<SEC-DOCUMENT>0001144204-15-029301.txt : 20150511
<SEC-HEADER>0001144204-15-029301.hdr.sgml : 20150511
<ACCEPTANCE-DATETIME>20150511162530
ACCESSION NUMBER:		0001144204-15-029301
CONFORMED SUBMISSION TYPE:	10-Q
PUBLIC DOCUMENT COUNT:		12
CONFORMED PERIOD OF REPORT:	20150331
FILED AS OF DATE:		20150511
DATE AS OF CHANGE:		20150511

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INTER PARFUMS INC
		CENTRAL INDEX KEY:			0000822663
		STANDARD INDUSTRIAL CLASSIFICATION:	PERFUMES, COSMETICS & OTHER TOILET PREPARATIONS [2844]
		IRS NUMBER:				133275609
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		10-Q
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-16469
		FILM NUMBER:		15851094

	BUSINESS ADDRESS:	
		STREET 1:		551 FIFTH AVE
		STREET 2:		STE 1500
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10176
		BUSINESS PHONE:		2129832640

	MAIL ADDRESS:	
		STREET 1:		551 FIFTH AVENUE
		STREET 2:		STE 1500
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10176

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	JEAN PHILIPPE FRAGRANCES INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>10-Q
<SEQUENCE>1
<FILENAME>v408666_10q.htm
<DESCRIPTION>10-Q
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">UNITED STATES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">WASHINGTON, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM 10-Q</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>(MARK ONE)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Wingdings"><B>x</B></FONT></TD><TD STYLE="text-align: justify">Quarterly Report pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934 for the quarterly period ended March 31, 2015.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>OR</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD STYLE="text-align: justify">Transition Report pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934 for the transition period from ___________to ________.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Commission File No. <B><U>0-16469</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B><I>INTER PARFUMS,
INC.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact name of registrant as specified in its
charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 60%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%; text-decoration: none; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Delaware</B></FONT></TD>
    <TD STYLE="width: 4%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 48%; text-decoration: none; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"><B>13-3275609</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">(State or other jurisdiction of</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">(I.R.S. Employer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">incorporation or organization)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">Identification No.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>551 Fifth Avenue, New
York, New York 10176</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B> </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">(Address of Principal Executive Offices)
(Zip Code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>(212) 983-2640</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">(Registrants telephone number, including area
code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or such
shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for
the past 90 days: Yes <FONT STYLE="font-family: Wingdings">x</FONT><B> </B>No <FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Indicate by check mark whether the registrant has submitted electronically
and posted on its corporate web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule
405 of Regulation S-T (&sect;232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant
was required to submit and post such files). Yes <FONT STYLE="font-family: Wingdings">x</FONT> No <FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See definition of &ldquo;large accelerated
filer,&rdquo; &ldquo;accelerated filer&rdquo; and &ldquo;smaller reporting company&rdquo; in Rule 12b-2 of the Exchange Act).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 69%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Large accelerated Filer <FONT STYLE="font-family: Wingdings">&uml;</FONT></FONT></TD>
    <TD STYLE="width: 31%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Accelerated filer <FONT STYLE="font-family: Wingdings">x</FONT></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Non-accelerated filer <FONT STYLE="font-family: Wingdings">&uml;</FONT> (Do not check if a smaller reporting company)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Smaller reporting company <FONT STYLE="font-family: Wingdings">&uml;</FONT></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Indicate by check mark whether the registrant is a shell company
(as defined in Rule 12b-2 of the Exchange Act). Yes <FONT STYLE="font-family: Wingdings">&uml;</FONT> No<FONT STYLE="font-family: Wingdings">x</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Indicate the number of shares outstanding of each of the issuer&rsquo;s
classes of common stock, as of the latest practicable date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">At May 8, 2015, there were 30,983,441 shares of common stock, par value $.001 per share, outstanding</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B><I>INTER PARFUMS,
INC. AND SUBSIDIARIES</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%">&nbsp;</TD>
    <TD STYLE="width: 77%">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 8%; text-align: center">Page Number</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="vertical-align: top"><A HREF="#a_001">Part I. Financial Information</A></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">1</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 0.5in; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">Item 1.</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#a_002">Financial Statements</A></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-left: 0.25in"><A HREF="#a_003">Consolidated Balance Sheets as of March 31, 2015 and December 31, 2014</A></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">2</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-left: 0.25in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-left: 0.25in"><A HREF="#a_004">Consolidated Statements of Income for the Three Months Ended &nbsp;March 31, 2015 and March 31, 2014</A></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">3</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-left: 0.25in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-left: 0.25in"><A HREF="#a_005">Consolidated Statements of Comprehensive Income (Loss)
    &nbsp;for the Three Months Ended&nbsp;&nbsp;&nbsp;March 31, 2015 and March 31, 2014</A></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">4</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-left: 0.25in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-left: 0.25in"><A HREF="#a_006">Consolidated Statements of Changes in Equity &nbsp;for the Three Months Ended&nbsp;&nbsp;&nbsp;March 31, 2015 and March 31, 2014</A></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">5</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-left: 0.25in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-left: 0.25in"><A HREF="#a_007">Consolidated Statements of Cash Flows &nbsp;for the Three Months Ended&nbsp;&nbsp;&nbsp;March 31, 2015 and March 31, 2014</A></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">6</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-left: 0.25in">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-left: 0.25in"><A HREF="#a_008">Notes to Consolidated Financial Statements</A></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">7</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 0.5in; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">Item 2.</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#a_009">Management's Discussion and Analysis of Financial Condition and Results of Operations</A></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">13</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 0.5in; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 0.5in; font-family: Courier New, Courier, Monospace"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Item
    3.</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Courier New, Courier, Monospace"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#a_010">Quantitative and Qualitative Disclosures About Market Risk</A></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">25</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 0.5in; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">Item 4.</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#a_011">Controls and Procedures</A></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">26</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD COLSPAN="2" STYLE="vertical-align: top"><A HREF="#a_012">Part II. Other Information</A></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">26</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 0.5in; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif">Item 2.</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Courier New, Courier, Monospace"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#a_013">Unregistered Sales of Equity Securities and Use of Proceeds</A></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">26</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; padding-left: 0.5in">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; padding-left: 0.5in">Item 6.</TD>
    <TD STYLE="vertical-align: top"><A HREF="#a_014">Exhibits</A></TD>
    <TD STYLE="vertical-align: bottom; text-align: center">27</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><A HREF="#a_015">Signatures</A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">27</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B><I>INTER PARFUMS,
INC. AND SUBSIDIARIES</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><A NAME="a_001"></A><B>Part I.&#9;Financial Information</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><A NAME="a_002"></A><B>Item 1.&#9; Financial Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In our opinion, the accompanying unaudited consolidated
financial statements contain all adjustments (consisting only of normal recurring adjustments) necessary to present fairly our
financial position, results of operations and cash flows for the interim periods presented. We have condensed such financial statements
in accordance with the rules and regulations of the Securities and Exchange Commission (&ldquo;SEC&rdquo;). Therefore, such financial
statements do not include all disclosures required by accounting principles generally accepted in the United States of America.
In preparing these consolidated financial statements, the Company has evaluated events and transactions for potential recognition
or disclosure through the date the consolidated financial statements were issued by filing with the SEC. These financial statements
should be read in conjunction with our audited financial statements for the year ended December&nbsp;31, 2014 included in our annual
report filed on Form 10-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The results of operations for the three months
ended March 31, 2015 are not necessarily indicative of the results to be expected for the entire fiscal year.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><A HREF="#a_003"></A><FONT STYLE="font-size: 12pt"><B><I><A NAME="a_003"></A>INTER PARFUMS,
INC. AND SUBSIDIARIES</I></B></FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">CONSOLIDATED BALANCE SHEETS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(In thousands except share and per share data)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Unaudited)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold; font-style: italic; text-align: center">ASSETS</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; font-style: italic; text-align: center">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; font-style: italic; text-align: center">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-size: 10pt; font-weight: bold; font-style: italic; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">March 31, <BR>2015</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">December 31,<BR> 2014</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Current assets:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 72%; font-size: 10pt; text-align: left; padding-left: 0.125in">Cash and cash equivalents</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">87,242</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">90,138</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; padding-left: 0.125in">Short-term investments</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">155,938</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">190,152</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.125in">Accounts receivable, net</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">96,387</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">90,124</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; padding-left: 0.125in">Inventories</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">104,554</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">102,326</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.125in">Receivables, other</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,473</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,542</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.125in">Other current assets</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">4,665</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">4,504</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.125in">Income taxes receivable</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">333</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">929</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt; padding-left: 0.125in">Deferred tax assets</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">6,953</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">6,848</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.375in">Total current assets</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">457,545</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">486,563</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Equipment and leasehold improvements, net</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">8,253</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">9,187</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Trademarks, licenses and other intangible assets, net</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">88,012</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">98,531</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Other assets</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">9,953</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">10,225</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.5pt; padding-left: 0.75in">Total assets</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">563,763</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">604,506</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; font-style: italic; text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; font-style: italic; text-align: center">LIABILITIES AND EQUITY</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Current liabilities:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.125in">Loans payable &ndash; banks</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">425</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">298</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.125in">Accounts payable &ndash; trade</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">53,373</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">46,646</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.125in">Accrued expenses</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">38,678</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">49,194</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.125in">Income taxes payable</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">5,466</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">3,773</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt; padding-left: 0.125in">Dividends payable</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">4,028</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">3,717</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt; padding-left: 0.5in">Total current liabilities</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">101,970</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">103,628</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Deferred tax liability</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,894</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">2,154</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold">Equity:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: normal; text-align: left; padding-left: 0.125in">Inter Parfums, Inc. shareholders&rsquo; equity:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: normal; text-align: left; padding-left: 0.5in; text-indent: -0.125in">Preferred stock, $.001 par; authorized<BR> 1,000,000 shares; none issued</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">--</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">--</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -9pt"><FONT STYLE="font-weight: normal">Common stock, $.001 par; authorized 100,000,000 shares;<BR> outstanding 30,982,101 and 30,977,293 shares at </FONT></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-weight: normal">March 31, 2015 and December 31, 2014, respectively</FONT></P></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">31</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">31</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: normal; text-align: left; padding-left: 0.375in">Additional paid-in capital</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">60,470</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">60,200</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: normal; text-align: left; padding-left: 0.5in; text-indent: -0.125in">Retained earnings</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">380,100</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">374,121</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: normal; text-align: left; padding-left: 0.5in; text-indent: -0.125in">Accumulated other comprehensive income (loss)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(51,059</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(15,823</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: normal; text-align: left; padding-left: 0.5in; text-indent: -0.125in">Treasury stock, at cost, 9,897,995 shares at March&nbsp;31, 2015 and December 31, 2014, respectively</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(36,464</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(36,464</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: normal; text-align: left; padding-left: 0.625in">Total Inter Parfums, Inc. shareholders&rsquo; equity</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">353,078</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">382,065</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: normal; text-align: left; padding-bottom: 1pt; padding-left: 0.125in">Noncontrolling interest</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">106,821</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">116,659</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt; padding-left: 0.75in">Total equity</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">459,899</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">498,724</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.5pt; padding-left: 0.875in">Total liabilities and equity</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">563,763</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">604,506</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>See notes to consolidated financial statements.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>&nbsp;</I></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B><I><A NAME="a_004"></A>INTER PARFUMS,
INC. AND SUBSIDIARIES</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><I>CONSOLIDATED STATEMENTS OF INCOME</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(In thousands except per share data)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>(Unaudited)</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center">Three months ended<BR> March 31,</TD><TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">2015</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">2014</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-family: Courier New, Courier, Monospace; text-align: center">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-family: Courier New, Courier, Monospace; text-align: center">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 70%; font-weight: bold; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Net sales</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">109,249</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">121,730</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 0.1in">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in">Cost of sales</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">41,639</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">52,500</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 0.1in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Gross margin</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">67,610</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">69,230</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 0.1in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in">Selling, general and administrative expenses</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">46,544</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">51,807</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 0.1in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in">Income from operations</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">21,066</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">17,423</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 0.1in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Other expenses (income):</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 16.2pt">Interest expense</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">158</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">273</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 16.2pt">Loss (gain) on foreign currency</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,006</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(49</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 16.2pt">Interest and dividend income</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,196</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,111</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-indent: -0.1in; padding-left: 0.1in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">968</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(887</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-indent: -0.1in; padding-left: 0.1in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Income before income taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20,098</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">18,310</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-indent: -0.1in; padding-left: 0.1in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: normal; text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in">Income taxes</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">6,793</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">6,160</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-indent: -0.1in; padding-left: 0.1in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Net income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,305</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12,150</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-indent: -0.1in; padding-left: 0.1in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 16.2pt">Less: Net income attributable to the noncontrolling interest</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,298</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,256</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-indent: -0.1in; padding-left: 0.1in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt; text-indent: -0.1in; padding-left: 0.1in">Net income attributable to Inter Parfums, Inc.</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">10,007</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">8,894</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-indent: -0.1in; padding-left: 0.1in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt; text-indent: -0.1in; padding-left: 0.1in">Net income attributable to Inter Parfums, Inc. common shareholders:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.1in; padding-left: 0.35in">Basic</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.32</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.29</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt; text-indent: -0.1in; padding-left: 0.35in">Diluted</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">0.32</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">0.29</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-indent: -0.1in; padding-left: 0.1in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-indent: -0.1in; padding-left: 0.1in">Weighted average number of shares outstanding:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.1in; padding-left: 0.35in">Basic</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,979</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,900</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt; text-indent: -0.1in; padding-left: 0.35in">Diluted</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">31,072</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">31,058</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.1in; padding-left: 0.1in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt; text-indent: -0.1in; padding-left: 0.1in">Dividends declared per share</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">0.13</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">0.12</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>See notes to consolidated financial statements.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><A NAME="a_005"></A><FONT STYLE="font-size: 12pt"><B><I>INTER PARFUMS,
INC. AND SUBSIDIARIES</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><I>CONSOLIDATED STATEMENTS OF COMPREHENSIVE
INCOME (LOSS)</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(In thousands)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>(Unaudited)</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center">Three months ended<BR> March 31,</TD><TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">2015</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">2014</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Comprehensive income (loss):</TD><TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 0.1in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 70%; font-weight: normal; text-align: left; text-indent: -0.1in; padding-left: 16.2pt">Net income</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">13,305</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">12,150</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 16.2pt">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: normal; text-align: left; text-indent: -0.1in; padding-left: 16.2pt">Other comprehensive income (loss):</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 25.6pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: normal; text-align: left; text-indent: -0.1in; padding-left: 0.35in">Net derivative instrument loss, net of tax</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(608</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 0.35in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: normal; text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.35in">Translation adjustments, net of tax</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(47,868</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,397</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 0.1in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in">Comprehensive income (loss)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(35,171</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">10,753</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 0.1in">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Comprehensive income (loss) attributable to the noncontrolling interests:</TD><TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 0.1in">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 16.2pt">Net income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,298</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,256</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 16.2pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: normal; text-align: left; text-indent: -0.1in; padding-left: 16.2pt">Other comprehensive income (loss):</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-indent: -0.1in; padding-left: 25.6pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: normal; text-align: left; text-indent: -0.1in; padding-left: 0.35in">Net derivative instrument loss, net of tax</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(165</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 0.35in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.35in">Translation adjustments, net of tax</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(13,075</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(478</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-indent: -0.1in; padding-left: 0.1in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in">Comprehensive income (loss) attributable to the noncontrolling interests</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(9,942</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,778</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-indent: -0.1in; padding-left: 0.1in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt; text-indent: -0.1in; padding-left: 0.1in">Comprehensive income (loss) attributable to Inter Parfums, Inc.</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(25,229</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">7,975</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>See notes to consolidated financial statements.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B><I><A NAME="a_006"></A>INTER PARFUMS,
INC. AND SUBSIDIARIES</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><I>CONSOLIDATED STATEMENTS OF CHANGES IN
EQUITY</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>(In thousands)</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>(Unaudited)</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center">Three months ended<BR> March 31,</TD><TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">2015</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">2014</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 70%; font-weight: bold; text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in">Common stock, beginning and end of period</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 12%; border-bottom: Black 1pt solid; text-align: right">31</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 12%; border-bottom: Black 1pt solid; text-align: right">31</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 0.6in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-indent: -0.1in; padding-left: 0.1in">Additional paid-in capital, beginning of period</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">60,200</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">57,877</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 0.35in">Shares issued upon exercise of stock options</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">82</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">908</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.1in; padding-left: 0.35in">Stock-based compensation</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">194</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">168</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.35in">Sale of subsidiary shares to noncontrolling interest</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(6</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(319</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in">Additional paid-in capital, end of period</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">60,470</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">58,634</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 0.6in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-indent: -0.1in; padding-left: 0.1in">Retained earnings, beginning of period</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">374,121</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">359,459</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.35in">Net income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,007</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,894</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.1in; padding-left: 0.35in">Dividends</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(4,028</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,712</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.35in">Stock-based compensation</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">29</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in">Retained earnings, end of period</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">380,100</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">364,670</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 52.2pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Accumulated other comprehensive income (loss), beginning of period</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(15,823</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25,860</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.35in">Foreign currency translation adjustment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(34,793</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(919</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.35in">Net derivative instrument loss, net of tax</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(443</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in">Accumulated other comprehensive income (loss), end of period</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(51,059</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">24,941</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.1in; padding-left: 0.6in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-indent: -0.1in; padding-left: 0.1in">Treasury stock, beginning of period</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(36,464</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(36,016</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.1in; padding-left: 0.35in">Shares issued upon exercise of stock options</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">101</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.35in">Shares received as proceeds of option exercises</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(351</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in">Treasury stock, end of period</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(36,464</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(36,266</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 0.6in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-indent: -0.1in; padding-left: 0.1in">Noncontrolling interest, beginning of period</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">116,659</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">128,145</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.35in">Net income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,298</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,256</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.35in">Foreign currency translation adjustment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(13,075</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(478</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.35in">Net derivative instrument loss, net of tax</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(165</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.35in">Sale of subsidiary shares to noncontrolling interest</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">104</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,309</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.35in">Stock-based compensation</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">10</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in">Noncontrolling interest, end of period</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">106,821</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">132,242</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 0.1in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt; text-indent: -0.1in; padding-left: 34.2pt">Total equity</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">459,899</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">544,252</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>See notes to consolidated financial statements. </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>&nbsp;&nbsp;</I></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B><I><A NAME="a_007"></A>INTER PARFUMS,
INC. AND SUBSIDIARIES</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><I>CONSOLIDATED STATEMENTS OF CASH FLOWS</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(In thousands)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>(Unaudited)</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center">Three months ended<BR> March 31,</TD><TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">2015</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">2014</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Cash flows from operating activities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 70%; text-align: left; text-indent: -0.1in; padding-left: 16.2pt">Net income</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">13,305</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">12,150</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 16.2pt">Adjustments to reconcile net income to net cash used in operating activities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 34.2pt">Depreciation and amortization</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,228</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,545</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 34.2pt">Provision for doubtful accounts</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">47</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 34.2pt">Noncash stock compensation</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">194</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">230</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 34.2pt">Deferred tax expense (benefit)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(503</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">447</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 16.2pt">Changes in:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 34.2pt">Accounts receivable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(14,397</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(20,927</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 34.2pt">Inventories</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(11,679</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(850</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 34.2pt">Other assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,564</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,821</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 34.2pt">Accounts payable and accrued expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,480</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(17,616</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 34.2pt">Income taxes, net</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,578</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,425</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.6in">Net cash used in operating activities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,311</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(27,259</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Cash flows from investing activities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 16.2pt">Purchases of short-term investments</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(56,437</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(142,110</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 16.2pt">Proceeds from sale of short-term investments</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">69,593</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">96,146</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 16.2pt">Purchases of equipment and leasehold improvements</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(687</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(709</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 16.2pt">Payment for intangible assets acquired</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(774</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(522</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.6in">Net cash provided by (used in) investing activities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">11,695</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(47,195</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Cash flows from financing activities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 16.2pt">Proceeds from (repayments of) loans payable &ndash; banks, net</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">168</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,866</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.1in; padding-left: 16.2pt">Proceeds from exercise of options</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">82</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">695</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 16.2pt">Proceeds from sale of stock of subsidiary</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">98</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">990</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 16.2pt">Dividends paid</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,717</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,704</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 16.2pt">Purchase of treasury stock</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(37</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.6in">Net cash used in financing activities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(3,369</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(4,922</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in">Effect of exchange rate changes on cash</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(9,911</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(680</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Net decrease in cash and cash equivalents</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,896</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(80,056</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: normal; text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 0.1in">Cash and cash equivalents - beginning of period</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">90,138</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">125,650</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt; text-indent: -0.1in; padding-left: 0.1in">Cash and cash equivalents - end of period</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">87,242</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">45,594</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -0.1in; padding-left: 0.1in">Supplemental disclosure of cash flow information:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 16.2pt">Cash paid for:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 34.2pt">Interest</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">168</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">248</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 34.2pt">Income taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,365</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,086</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>See notes to consolidated financial statements.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B><I><A NAME="a_008"></A>INTER PARFUMS,
INC. AND SUBSIDIARIES</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Notes to Consolidated Financial Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>1.</B></TD><TD><B><U>Significant Accounting Policies:</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">The accounting policies we follow are set forth in the
notes to our financial statements included in our Form 10-K which was filed with the Securities and Exchange Commission for the
year ended December&nbsp;31, 2014. We also discuss such policies in Part I, Item 2, Management&rsquo;s Discussion and Analysis
of Financial Condition and Results of Operations, included in this Form 10-Q.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>2.</B></TD><TD><B><U>Recent Accounting Pronouncements:</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">In May 2014, the Financial Accounting
Standards Board (&ldquo;FASB&rdquo;) issued an Accounting Standards Update which supersedes the most current revenue recognition
requirements. The new revenue recognition standard requires entities to recognize revenue in a way that depicts the transfer of
goods or services to customers in an amount that reflects the consideration which the entity expects to be entitled to in exchange
for those goods or services. This guidance is effective for annual and interim reporting periods beginning after December 15, 2016,
with early adoption not permitted. We are currently evaluating the standard to determine the impact of its adoption on our consolidated
financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">There are no other recent accounting pronouncements issued
but not yet adopted that would have a material effect on our consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>3.</B></TD><TD STYLE="text-align: justify"><B><U>New Agreements:</U></B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">In March 2015, the Company, through its majority owned
Paris-based subsidiary, Interparfums SA, entered into an agreement with The Procter &amp; Gamble Company to acquire the Rochas
brand. This transaction will cover all brand names and registered trademarks for Rochas (<I>Femme, Madame, Eau de Rochas</I>, etc.),
mainly for class 3 (cosmetics) and class 25 (fashion). The cost of the acquisition of $108 million is payable in cash on the closing
date and is expected to be financed entirely through a medium term loan. This transaction is expected to be completed within the
first half of 2015, subject to customary closing conditions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">In April 2015, the Company, through its majority owned
Paris-based subsidiary, Interparfums SA, entered into an 11-year exclusive worldwide license with Coach, Inc. to create, produce
and distribute new perfumes and fragrance related products, including new men&rsquo;s and women&rsquo;s scents under the Coach
brand name. Interparfums SA will distribute these fragrances globally to department stores, specialty stores and duty free shops,
as well as in Coach retail stores beginning in 2016. The agreement is subject to certain minimum sales, advertising expenditures
and royalty payments as are customary in our industry.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-variant: small-caps"><B>4.</B></FONT></TD><TD STYLE="text-align: justify"><B><U>Inventories:</U></B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Inventories consist of
the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 88%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: justify; padding-bottom: 1pt">(In&nbsp;thousands)</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">March&nbsp;31,<BR> &nbsp;2015</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">December&nbsp;31,<BR> 2014</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 70%; text-align: left">Raw materials and component parts</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">31,282</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">36,383</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Finished goods</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">73,272</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">65,943</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">104,554</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">102,326</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B><I>INTER PARFUMS,
INC. AND SUBSIDIARIES</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Notes to Consolidated Financial Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>5.</B></TD><TD><B><U>Fair Value Measurement:</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left">The following tables present our
financial assets and liabilities that are measured at fair value on a recurring basis and are categorized using the fair
value hierarchy. The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair
value.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 92%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-bottom: 1pt">(In thousands)</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Fair Value Measurements at March 31, 2015</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right">Quoted Prices in</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right">Significant Other</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right">Significant</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right">Active Markets for</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right">Observable</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right">Unobservable</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right">Identical Assets</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right">Inputs</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right">Inputs</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Total</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">(Level 1)</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">(Level 2)</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">(Level 3)</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.1in; padding-left: 0.1in">Assets:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 40%; padding-bottom: 2.5pt; text-indent: -0.1in; padding-left: 16.2pt">Short-term investments</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 12%; border-bottom: Black 2.5pt double; text-align: right">155,938</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 12%; border-bottom: Black 2.5pt double; text-align: right">&mdash;</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 12%; border-bottom: Black 2.5pt double; text-align: right">155,938</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 12%; border-bottom: Black 2.5pt double; text-align: right">&mdash;</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.1in; padding-left: 0.1in">Liabilities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 16.2pt">Foreign currency forward exchange contracts accounted for using hedge accounting</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">981</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">981</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 16.2pt">Foreign currency forward exchange contracts not accounted for using hedge accounting</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,241</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,241</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">2,222</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">2,222</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 92%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Fair Value Measurements at December 31, 2014</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right">Quoted Prices in</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right">Significant Other</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right">Significant</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right">Active Markets for</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right">Observable</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right">Unobservable</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right">Identical Assets</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right">Inputs</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right">Inputs</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Total</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">(Level 1)</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">(Level 2)</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">(Level 3)</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.1in; padding-left: 0.1in">Assets:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 40%; padding-bottom: 2.5pt; text-indent: -0.1in; padding-left: 16.2pt">Short-term investments</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 12%; border-bottom: Black 2.5pt double; text-align: right">190,152</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 12%; border-bottom: Black 2.5pt double; text-align: right">&mdash;</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 12%; border-bottom: Black 2.5pt double; text-align: right">190,152</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 12%; border-bottom: Black 2.5pt double; text-align: right">&mdash;</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 0.1in">Liabilities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; text-indent: -0.1in; padding-left: 16.2pt">Foreign currency forward exchange contracts not accounted for using hedge accounting</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">355</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">355</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left">The carrying amount of cash and cash
equivalents including money market funds, short-term investments, accounts receivable, other receivables, accounts payable and
accrued expenses approximates fair value due to the short terms to maturity of these instruments. The carrying amount of loans
payable approximates fair value as the interest rates on the Company&rsquo;s indebtedness approximate current market rates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left">Foreign currency forward exchange contracts
are valued based on quotations from financial institutions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B><I>INTER PARFUMS,
INC. AND SUBSIDIARIES</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Notes to Consolidated Financial Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>6.</B></TD><TD><B><U>Derivative Financial Instruments:</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">The Company enters into foreign currency forward exchange
contracts to hedge exposure related to receivables denominated in a foreign currency and occasionally to manage risks related to
future transactions expected to be denominated in a foreign currency.&nbsp;In connection with the Rochas acquisition, the purchase
price of $108 million is payable in cash on the closing date and is expected to be financed entirely through a medium term loan.
As the payment at closing is due in dollars and we plan to finance it with debt in euro, the Company entered into foreign currency
exchange contracts to secure the exchange rate for the $108 million purchase price at $1.067 per 1 euro. This derivative has been
designated and qualifies as a cash flow hedge. The Company did not have any other cash flow hedges during the three months ended
March 31, 2015 and 2014. Gains and losses in derivatives not designated as hedges are included in (loss) gain on foreign currency
on the accompanying income statement and were immaterial for the three months ended March 31, 2015 and 2014.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">All derivative instruments are reported as either assets
or liabilities on the balance sheet measured at fair value. The valuation of all foreign currency forward exchange contracts as
of March 31, 2015 and December 31, 2014 resulted in a liability that is included in accrued expenses on the accompanying balance
sheets. Generally, increases or decreases in the fair value of derivative instruments will be recognized as gains or losses in
earnings in the period of change. If the derivative instrument is designated and qualifies as a cash flow hedge, the change in
fair value of the derivative instrument is recorded as a separate component of shareholders&rsquo; equity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">At March 31, 2015, we had foreign currency contracts in
the form of forward exchange contracts in the amount of approximately U.S. $126.7&nbsp;million, GB pounds &pound;2.2&nbsp;million
and JPY &yen;220.7 million which all have maturities of less than one year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>7.</B></TD><TD STYLE="text-align: justify"><B><U>Share-Based Payments:</U></B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left">The Company maintains a stock option
program for key employees, executives and directors. The plans, all of which have been approved by shareholder vote, provide for
the granting of both nonqualified and incentive options. Options granted under the plans typically have a six-year term and vest
over a four to five-year period. The fair value of shares vested during both the three months ended March 31, 2015 and 2014 aggregated
$0.03 million. Compensation cost is recognized on a straight-line basis over the requisite service period for the entire award.
It is generally our policy to issue new shares upon exercise of stock options.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left">The following table sets forth information
with respect to nonvested options for the three month period ended March 31, 2015:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.6in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: justify">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: right; border-bottom: Black 1pt solid">Number&nbsp;of&nbsp;Shares</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Weighted&nbsp;Average&nbsp;<BR> Grant&nbsp;Date&nbsp;Fair&nbsp;Value</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 70%; text-align: left">Nonvested options &ndash; beginning of period</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">385,505</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">7.14</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Nonvested options granted</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6.73</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Nonvested options vested or forfeited</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(7,085</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">$</TD><TD STYLE="padding-bottom: 1pt; text-align: right">6.39</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Nonvested options &ndash; end of period</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">392,420</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">$</TD><TD STYLE="padding-bottom: 2.5pt; text-align: right">7.14</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B><I>INTER PARFUMS,
INC. AND SUBSIDIARIES</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Notes to Consolidated Financial Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Share-based payment expense decreased income before income
taxes by $0.19 million and $0.23 million for the three months ended March 31, 2015 and 2014, respectively, and decreased net income
attributable to Inter Parfums, Inc. by $0.12 million and $0.11 million for the three months ended March&nbsp;31, 2015 and 2014,
respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">The following table summarizes stock option information
as of March 31, 2015:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 88%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-family: Courier New, Courier, Monospace; text-align: justify">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Shares</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Weighted&nbsp;Average<BR> Exercise&nbsp;Price</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 70%">Outstanding at January 1, 2015</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">639,495</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">23.19</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Options granted</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25.67</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Options cancelled</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,170</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25.49</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Options exercised</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(4,808</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">17.14</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt">Outstanding at March 31, 2015</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">646,517</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">23.28</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Options exercisable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">254,097</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">18.50</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Options available for future grants</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">316,705</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left">As of March 31, 2015, the weighted average
remaining contractual life of options outstanding is 3.69 years (2.39 years for options exercisable), the aggregate intrinsic value
of options outstanding and options exercisable is $6.4 million and $3.7 million, respectively, and unrecognized compensation cost
related to stock options outstanding of Inter Parfums, Inc. aggregated $2.5 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left">Cash proceeds, tax benefits and intrinsic
value related to stock options exercised during the three months ended March 31, 2015 and March 31, 2014 were as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 88%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: justify; padding-bottom: 1pt">(In thousands)</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">March 31, <BR>2015</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">March 31, <BR>2014</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 70%; text-align: left">Cash proceeds from stock options exercised</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">82</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">695</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Tax benefits</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Intrinsic value of stock options exercised</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">66</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,455</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left">The weighted average fair values of
the options granted by Inter Parfums, Inc. during the three months ended March 31, 2015 and 2014 were $6.73 and $8.37 per share,
respectively, on the date of grant using the Black-Scholes option pricing model to calculate the fair value of options granted.
The assumptions used in the Black-Scholes pricing model for the periods ended March&nbsp;31, 2015 and 2014 are set forth in the
following table:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 88%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-family: Courier New, Courier, Monospace; text-align: justify">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">March 31, <BR>2015</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">March 31, <BR>2014</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 70%">Weighted average expected stock-price volatility</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">34</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">37</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Weighted average expected option life</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5 years</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5 years</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Weighted average risk-free interest rate</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.28</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.55</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Weighted average dividend yield</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.8</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.8</TD><TD STYLE="text-align: left">%</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B><I>INTER PARFUMS,
INC. AND SUBSIDIARIES</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Notes to Consolidated Financial Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left">Expected volatility is estimated based
on historic volatility of the Company&rsquo;s common stock. The expected term of the option is estimated based on historic data.
The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of the grant of the option and the dividend
yield reflects the assumption that the dividend payout as authorized by the Board of Directors would increase as the earnings of
the Company and its stock price continue to increase.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>8.</B></TD><TD><B><U>Net Income Attributable to Inter Parfums, Inc. Common Shareholders:</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Net income attributable to Inter Parfums, Inc. per common
share (&ldquo;basic EPS&rdquo;) is computed by dividing net earnings attributable to Inter Parfums, Inc. by the weighted average
number of shares outstanding.&nbsp;Net earnings attributable to Inter Parfums, Inc. per share assuming dilution (&ldquo;diluted
EPS&rdquo;), is computed using the weighted average number of shares outstanding, plus the incremental shares outstanding assuming
the exercise of dilutive stock options using the treasury stock method.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">The reconciliation between the numerators and denominators
of the basic and diluted EPS computations is as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 88%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>(In thousands, except per share data)</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; text-align: center">March 31,</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.1in; padding-left: 0.1in">Numerator:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 70%; text-align: left; padding-bottom: 2.5pt; text-indent: -0.1in; padding-left: 16.2pt">Net income attributable to Inter Parfums, Inc.</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 12%; border-bottom: Black 2.5pt double; text-align: right">10,007</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 12%; border-bottom: Black 2.5pt double; text-align: right">8,894</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.1in; padding-left: 0.1in">Denominator:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 16.2pt">Weighted average shares</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,979</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,900</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 16.2pt">Effect of dilutive securities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -0.1in; padding-left: 34.2pt">Stock options</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">93</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">158</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; text-indent: -0.1in; padding-left: 52.2pt">Denominator for diluted earnings per share</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">31,072</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">31,058</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.1in; padding-left: 0.1in">Earnings per share:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 16.2pt">Net income attributable to Inter Parfums, Inc. common shareholders:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.1in; padding-left: 52.2pt">Basic</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.32</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.29</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 52.2pt">Diluted</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.32</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.29</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left">Not included in the above computations
is the effect of antidilutive potential common shares which consist of outstanding options to purchase 0.27 million and 0.13 million
shares of common stock for the three months ended March 31, 2015 and 2014, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B><I>INTER PARFUMS,
INC. AND SUBSIDIARIES</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Notes to Consolidated Financial Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>9.</B></TD><TD STYLE="text-align: justify"><B><U>Segment and Geographic Areas:</U></B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"></TD><TD>The Company manufactures and distributes one product line, fragrances and fragrance related products. The Company manages its
business in two segments, European based operations and United States based operations. The European assets are located, and operations
are primarily conducted, in France. European operations primarily represent the sale of prestige brand name fragrances and United
States operations primarily represent the sale of prestige brand name and specialty retail fragrance. Information on our operations
by geographical areas is as follows:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 88%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: left">(In thousands)</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center">Three months ended<BR> March 31,</TD><TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">2015</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">2014</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD NOWRAP STYLE="text-align: left">Net sales:</TD><TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD><TD NOWRAP STYLE="text-align: right">&nbsp;</TD><TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 70%; text-align: left; padding-left: 9pt">United States</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">22,479</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">19,392</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt">Europe</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">86,787</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">102,376</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; padding-left: 9pt">Eliminations</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(17</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(38</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">109,249</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">121,730</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Net income attributable to Inter Parfums, Inc.:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">United States</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,109</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(67</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt">Europe</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,898</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,961</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; padding-left: 9pt">Eliminations</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">10,007</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">8,894</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 88%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">March 31,</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">March 31,</TD><TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">2015</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">2014</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Total Assets:</TD><TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 70%; text-align: left; padding-left: 9pt">United States</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">75,648</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">71,014</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt">Europe</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">497,294</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">589,481</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 9pt">Eliminations of investment in subsidiary</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(9,179</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(9,217</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt; padding-left: 9pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">563,763</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">651,278</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>10.</B></TD><TD STYLE="text-align: justify"><B><U>Accrued Expenses:</U></B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"></TD><TD><FONT STYLE="font-size: 10pt">Accrued expenses include approximately $8.4 million and $16.5 million in advertising liabilities
as of March 31, 2015 and December 31, 2014, respectively.</FONT><B> </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B><I>INTER PARFUMS,
INC. AND SUBSIDIARIES</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.75in; text-align: left"><A NAME="a_009"></A><B>Item 2:</B></TD><TD STYLE="text-align: left"><B>MANAGEMENT&rsquo;S DISCUSSION AND ANALYSIS OF FINANCIAL
CONDITION AND RESULTS OF OPERATIONS</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Forward Looking Information</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Statements in this report which are not historical
in nature are forward-looking statements. Although we believe that our plans, intentions and expectations reflected in such forward-looking
statements are reasonable, we can give no assurance that such plans, intentions or expectations will be achieved. In some cases
you can identify forward-looking statements by forward-looking words such as &quot;anticipate,&quot; &quot;believe,&quot; &quot;could,&quot;
&quot;estimate,&quot; &quot;expect,&quot; &quot;intend,&quot; &quot;may,&quot; &quot;should,&quot; &quot;will&quot; and &quot;would&quot;
or similar words. You should not rely on forward-looking statements because actual events or results may differ materially from
those indicated by these forward-looking statements as a result of a number of important factors. These factors include, but are
not limited to, the risks and uncertainties discussed under the headings &ldquo;Forward Looking Statements&rdquo; and &quot;Risk
Factors&quot; in Inter Parfums' annual report on Form 10-K for the fiscal year ended December 31, 2014 and the reports Inter Parfums
files from time to time with the Securities and Exchange Commission. Inter Parfums does not intend to and undertakes no duty to
update the information contained in this report.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Overview</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We operate in the fragrance business, and manufacture,
market and distribute a wide array of fragrances and fragrance related products. We manage our business in two segments, European
based operations and United States based operations. Certain prestige fragrance products are produced and marketed by our European
operations through our 73% owned subsidiary in Paris, Interparfums SA, which is also a publicly traded company as 27% of Interparfums
SA shares trade on the NYSE Euronext.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We produce and distribute our European based
prestige products primarily under license agreements with brand owners, and European based prestige product sales represented approximately
79% and 84% of net sales for the three months ended March 31, 2015 and 2014, respectively. We have built a portfolio of prestige
brands, which include <I>Balmain, Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Lanvin, Montblanc, Paul Smith, S.T. Dupont, Repetto
and Van Cleef &amp; Arpels</I>, whose products are distributed in over 100 countries around the world. We own the Lanvin brand
name for our class of trade, and license the Montblanc and Jimmy Choo brand names; for the three months ended March 31, 2015, sales
of product for these brands represented 15%, 25%, and 20% of net sales, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Through our United States operations we also
market prestige brand as well as specialty retail fragrance and fragrance related products. United States operations represented
21% and 16% of net sales for the three months ended March 31, 2015 and 2014, respectively. These fragrance products are sold or
to be sold under trademarks owned by us or pursuant to license or other agreements with the owners of the <I>Abercrombie &amp;
Fitch, Agent Provocateur, Anna Sui, Banana Republic, bebe, Dunhill, Gap, Hollister, Oscar de la Renta, and Shanghai Tang</I> brands.<I>
</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Quarterly sales fluctuations are influenced
by the timing of new product launches as well as the third and fourth quarter holiday season. In certain markets where we sell
directly to retailers, seasonality has been more evident in the past few years. We operate distribution subsidiaries in Italy,
Germany, Spain, and the United States. In addition, our specialty retail product lines sold to U.S. retailers are also concentrated
in the second half of the year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B><I>INTER PARFUMS,
INC. AND SUBSIDIARIES</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We grow our business in two distinct ways. First,
we grow by adding new brands to our portfolio, either through new licenses or other arrangements or out-right acquisitions of brands.
Second, we grow through the introduction of new products and supporting new and established products through advertising, merchandising
and sampling as well as phasing out existing products that no longer meet the needs of our consumers.&nbsp;The economics of developing,
producing, launching and supporting products influence our sales and operating performance each year.&nbsp; Our introduction of
new products may have some cannibalizing effect on sales of existing products, which we take into account in our business planning.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Our business is not capital intensive, and it
is important to note that we do not own manufacturing facilities. We act as a general contractor and source our needed components
from our suppliers. These components are received at one of our distribution centers and then, based upon production needs, the
components are sent to one of several third party fillers, which manufacture the finished product for us and then deliver them
to one of our distribution centers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">As with any global business, many aspects of
our operations are subject to influences outside our control. We believe we have a strong brand portfolio with global reach and
potential. As part of our strategy, we plan to continue to make investments behind fast-growing markets and channels to grow market
share.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">During the three months ended March 31, 2015,
the economic and political uncertainty and financial market volatility taking place in certain European countries and the Middle
East did not have a significant impact on our business, and at this time we do not believe it will have a significant impact on
our business for the foreseeable future. However, if the degree of uncertainty or volatility worsens or is prolonged, then there
will likely be a negative effect on ongoing consumer confidence, demand and spending and as a result, our business. Currently,
we believe general economic, political and other uncertainties still exist in select markets in which we do business, and we continue
to monitor global economic and political uncertainties and other risks that may affect our business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Our reported net sales are impacted by changes
in foreign currency exchange rates. A strong U.S. dollar has a negative impact on our net sales. However, earnings are positively
affected by a strong dollar, because almost 50% of net sales of our European operations are denominated in U.S. dollars, while
almost all costs of our European operations are incurred in euro. Our Company addresses certain financial exposures through a controlled
program of risk management that includes the use of derivative financial instruments.&nbsp; We primarily enter into foreign currency
forward exchange contracts to reduce the effects of fluctuating foreign currency exchange rates.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>
<P STYLE="margin: 0"><B>&nbsp;</B></P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-size: 12pt"><B><I>INTER PARFUMS, INC. AND SUBSIDIARIES</I></B></FONT></P>

<P STYLE="margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Recent Important Events</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 31.5pt"><B><I>Coach</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 31.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 31.5pt">In April 2015, the Company, through its majority
owned Paris-based subsidiary, Interparfums SA, entered into an 11-year exclusive worldwide license with Coach, Inc. to create,
produce and distribute new perfumes and fragrance related products, including new men&rsquo;s and women&rsquo;s scents under the
Coach brand name. Interparfums SA will distribute these fragrances globally to department stores, specialty stores and duty free
shops, as well as in Coach retail stores beginning in 2016. The agreement is subject to certain minimum sales, advertising expenditures
and royalty payments as are customary in our industry.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Rochas</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 31.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In March 2015, the Company, through its majority
owned Paris-based subsidiary, Interparfums SA, entered into an agreement with The Procter &amp; Gamble Company to acquire the Rochas
brand. This transaction will cover all brand names and registered trademarks for Rochas (<I>Femme, Madame, Eau de Rochas</I>, etc.),
mainly for class 3 (cosmetics) and class 25 (fashion). The cost of the acquisition of $108 million is payable in cash on the closing
date and is expected to be financed entirely through a medium term loan. This transaction is expected to be completed within the
first half of 2015, subject to customary closing conditions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Abercrombie &amp; Fitch and Hollister</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In December 2014, the Company entered into a
7-year exclusive worldwide license to create, produce and distribute new perfumes and fragrance related products under the Abercrombie
&amp; Fitch and Hollister brand names. The Company will distribute these fragrances internationally in specialty retailers, high-end
department stores and duty free shops, and in the U.S., in duty free shops and potentially in Abercrombie &amp; Fitch and Hollister
retail stores. The agreement is subject to certain minimum sales, advertising expenditures and royalty payments as are customary
in our industry. New men&rsquo;s and women&rsquo;s scents are planned for both Abercrombie &amp; Fitch and Hollister for 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Discussion of Critical Accounting Policies</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We make estimates and assumptions in the preparation
of our financial statements in conformity with accounting principles generally accepted in the United States of America. Actual
results could differ significantly from those estimates under different assumptions and conditions. We believe the following discussion
addresses our most critical accounting policies, which are those that are most important to the portrayal of our financial condition
and results of operations. These accounting policies generally require our management&rsquo;s most difficult and subjective judgments,
often as a result of the need to make estimates about the effect of matters that are inherently uncertain. Management of the Company
has discussed the selection of significant accounting policies and the effect of estimates with the Audit Committee of the Board
of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;<B>&nbsp;</B></P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-size: 12pt"><B><I>INTER PARFUMS, INC. AND SUBSIDIARIES</I></B></FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Revenue Recognition</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We sell our products to department stores, perfumeries,
specialty retailers, mass market retailers, supermarkets and domestic and international wholesalers and distributors. Sales of
such products by our domestic subsidiaries are denominated in U.S. dollars and sales of such products by our foreign subsidiaries
are primarily denominated in either euro or U.S. dollars. We recognize revenues when merchandise is shipped and the risk of loss
passes to the customer. Net sales are comprised of gross revenues less returns, trade discounts and allowances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Accounts Receivable</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Accounts receivable represent payments due to
the Company for previously recognized net sales, reduced by allowances for sales returns and doubtful accounts. Accounts receivable
balances are written-off against the allowance for doubtful accounts when they become uncollectible. Recoveries of accounts receivable
previously recorded against the allowance are recorded in the consolidated statement of income when received. We generally grant
credit based upon our analysis of the customer&rsquo;s financial position as well as previously established buying patterns.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Sales Returns</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Generally, we do not permit customers to return
their unsold products. However, for U.S. distribution of our prestige products, we allow returns if properly requested, authorized
and approved. We regularly review and revise, as deemed necessary, our estimate of reserves for future sales returns based primarily
upon historic trends and relevant current data, including information provided by retailers regarding their inventory levels. In
addition, as necessary, specific accruals may be established for significant future known or anticipated events. The types of known
or anticipated events that we have considered, and will continue to consider, include, but are not limited to, the financial condition
of our customers, store closings by retailers, changes in the retail environment and our decision to continue to support new and
existing products. We record estimated reserves for sales returns as a reduction of sales, cost of sales and accounts receivable.
Returned products are recorded as inventories and are valued based upon estimated realizable value. The physical condition and
marketability of returned products are the major factors we consider in estimating realizable value. Actual returns, as well as
estimated realizable values of returned products, may differ significantly, either favorably or unfavorably, from our estimates,
if factors such as economic conditions, inventory levels or competitive conditions differ from our expectations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Inventories&#9;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Inventories are stated at the lower of cost
or market value. Cost is principally determined by the first-in, first-out method. We record adjustments to the cost of inventories
based upon our sales forecast and the physical condition of the inventories. These adjustments are estimates, which could vary
significantly, either favorably or unfavorably, from actual requirements if future economic conditions or competitive conditions
differ from our expectations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="margin: 0"><B>&nbsp;</B></P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-size: 12pt"><B><I>INTER PARFUMS, INC. AND SUBSIDIARIES</I></B></FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Equipment and Other Long-Lived Assets</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Equipment, which includes tools and molds, is
recorded at cost and is depreciated on a straight-line basis over the estimated useful lives of such assets. Changes in circumstances
such as technological advances, changes to our business model or changes in our capital spending strategy can result in the actual
useful lives differing from our estimates. In those cases where we determine that the useful life of equipment should be shortened,
we would depreciate the net book value in excess of the salvage value, over its revised remaining useful life, thereby increasing
depreciation expense. Factors such as changes in the planned use of equipment, or market acceptance of products, could result in
shortened useful lives.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We evaluate indefinite-lived intangible assets
for impairment at least annually during the fourth quarter, or more frequently when events occur or circumstances change, such
as an unexpected decline in sales, that would more likely than not indicate that the carrying value of an indefinite-lived intangible
asset may not be recoverable. When testing indefinite-lived intangible assets for impairment, the evaluation requires a comparison
of the estimated fair value of the asset to the carrying value of the asset. The fair values used in our evaluations are estimated
based upon discounted future cash flow projections using a weighted average cost of capital of 6.7%. The cash flow projections
are based upon a number of assumptions, including, future sales levels and future cost of goods and operating expense levels, as
well as economic conditions, changes to our business model or changes in consumer acceptance of our products which are more subjective
in nature. If the carrying value of an indefinite-lived intangible asset exceeds its fair value, an impairment charge is recorded.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We believe that the assumptions we have made
in projecting future cash flows for the evaluations described above are reasonable and currently no impairment indicators exist
for our indefinite-lived intangible assets. However, if future actual results do not meet our expectations, we may be required
to record an impairment charge, the amount of which could be material to our results of operations. The following table presents
the impact a change in the following significant assumptions would have had on the calculated fair value in 2014 assuming all other
assumptions remained constant:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP><I>In millions</I></TD><TD NOWRAP STYLE="font-style: italic">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-style: italic"></TD><TD NOWRAP STYLE="font-style: italic">&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">Increase (decrease)</TD><TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center">Change</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">to fair value</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 64%">Weighted average cost of capital</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 14%; text-align: right">+10</TD><TD STYLE="width: 2%; text-align: left">%</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 14%; text-align: right">(1.0</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Weighted average cost of capital</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-10</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.3</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Future sales levels</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">+10</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Future sales levels</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-10</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(1.0</TD><TD STYLE="text-align: left">)</TD></TR>
</TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="margin: 0"><B>&nbsp;</B></P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-size: 12pt"><B><I>INTER PARFUMS, INC. AND SUBSIDIARIES</I></B></FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Intangible assets subject to amortization are
evaluated for impairment testing whenever events or changes in circumstances indicate that the carrying amount of an amortizable
intangible asset may not be recoverable. If impairment indicators exist for an amortizable intangible asset, the undiscounted future
cash flows associated with the expected service potential of the asset are compared to the carrying value of the asset. If our
projection of undiscounted future cash flows is in excess of the carrying value of the intangible asset, no impairment charge is
recorded. If our projection of undiscounted future cash flows is less than the carrying value of the intangible asset, an impairment
charge would be recorded to reduce the intangible asset to its fair value. The cash flow projections are based upon a number of
assumptions, including future sales levels and future cost of goods and operating expense levels, as well as economic conditions,
changes to our business model or changes in consumer acceptance of our products which are more subjective in nature. We believe
that the assumptions we have made in projecting future cash flows for the evaluations described above are reasonable and currently
no impairment indicators exist for our intangible assets subject to amortization. In those cases where we determine that the useful
life of long-lived assets should be shortened, we would depreciate the net book value in excess of the salvage value (after testing
for impairment as described above), over the revised remaining useful life of such asset thereby increasing amortization expense.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In determining the useful life of our Lanvin
brand names and trademarks, we applied the provisions of ASC topic 350-30-35-3. The only factor that prevented us from determining
that the Lanvin brand names and trademarks were indefinite life intangible assets was Item c. &ldquo;Any legal, regulatory, or
contractual provisions that may limit the useful life.&rdquo; The existence of a repurchase option in 2025 may limit the useful
life of the Lanvin brand names and trademarks to the Company. However, this limitation would only take effect if the repurchase
option were to be exercised and the repurchase price was paid. If the repurchase option is not exercised, then the Lanvin brand
names and trademarks are expected to continue to contribute directly to the future cash flows of our Company and their useful life
would be considered to be indefinite.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">With respect to the application of ASC topic
350-30-35-8, the Lanvin brand names and trademarks would only have a finite life to our Company if the repurchase option were exercised,
and in applying ASC topic 350-30-35-8, we assumed that the repurchase option is exercised. When exercised, Lanvin has an obligation
to pay the exercise price and the Company would be required to convey the Lanvin brand names and trademarks back to Lanvin. The
exercise price to be received (Residual Value) is well in excess of the carrying value of the Lanvin brand names and trademarks,
therefore no amortization is required.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B><I>Derivatives</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We account for derivative financial instruments
in accordance with ASC topic 815, which establishes accounting and reporting standards for derivative instruments, including certain
derivative instruments embedded in other contracts, and for hedging activities.&nbsp;This topic also requires the recognition of
all derivative instruments as either assets or liabilities on the balance sheet and that they are measured at fair value.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We currently use derivative financial instruments
to hedge certain anticipated transactions and interest rates, as well as receivables denominated in foreign currencies.&nbsp;We
do not utilize derivatives for trading or speculative purposes.&nbsp;Hedge effectiveness is documented, assessed and monitored
by employees who are qualified to make such assessments and monitor the instruments.&nbsp;Variables that are external to us such
as social, political and economic risks may have an impact on our hedging program and the results thereof.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="margin: 0"><B>&nbsp;</B></P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-size: 12pt"><B><I>INTER PARFUMS, INC. AND SUBSIDIARIES</I></B></FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Income Taxes</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Company accounts for income taxes using
an asset and liability approach that requires the recognition of deferred tax assets and liabilities for the expected future tax
consequences of events that have been recognized in its financial statements or tax returns.&nbsp;The net deferred tax assets assume
sufficient future earnings for their realization, as well as the continued application of currently anticipated tax rates.&nbsp;Included
in net deferred tax assets is a valuation allowance for deferred tax assets, where management believes it is more-likely-than-not
that the deferred tax assets will not be realized in the relevant jurisdiction.&nbsp;If the Company determines that a deferred
tax asset will not be realizable, an adjustment to the deferred tax asset will result in a reduction of net income at that time.
In addition, the Company follows the provisions of uncertain tax positions as addressed in ASC topic 740-10-65-1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Results of Operations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><B><I>Three Months Ended March 31, 2015 as Compared to
the Three Months Ended March 31, 2014</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 96%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; font-style: italic; padding-bottom: 1pt">Net Sales</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="18" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Three months ended March 31,</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-bottom: 1pt">(in millions)</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">% Change</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">% Change</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="18" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 35%; text-align: left; text-indent: -9pt; padding-left: 9pt">European based ongoing brand product sales</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">86.7</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">(15</TD><TD STYLE="width: 1%; text-align: left">)%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">102.3</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">20</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">85.4</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">United States based product sales</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">22.5</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">16</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">19.4</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">4</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">18.7</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Total ongoing brand net sales</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">109.2</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(10</TD><TD STYLE="text-align: left">)%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">121.7</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">104.1</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Burberry brand &nbsp;net sales</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;0&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">n/a</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;0&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">n/a</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">109.7</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Total net sales</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">109.2</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(10</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">121.7</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(43</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">213.8</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Net sales for the three months ended March 31,
2015 declined 10% to $109.2 million, as compared to $121.7 for the corresponding period of the prior year. At comparable foreign
currency exchange rates, net sales decreased 3%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">European based prestige product sales decreased
15% to $86.7 million for the three months ended March 31, 2015, as compared to $102.3 million for the corresponding period of the
prior year. At comparable foreign currency exchange rates, European based prestige product sales decreased 6% due in large part
to the difficult comparison for the Karl Lagerfeld brand. The 2014 launch of Karl Lagerfeld&rsquo;s signature scents for both men
and women yielded more than $13 million in sales in 2014, as compared to $2.5 million in 2015. The nearly 20% depreciation of the
euro against the U.S. dollar masked several of the gains in comparable quarter sales volume. Montblanc fragrance sales increased
19% in local currency, as compared to a 2% decline in dollars with Montblanc <I>Legend</I> and <I>Emblem</I> as the two main sales
drivers. Jimmy Choo fragrances also performed exceptionally well with sales up 52% in local currency but up only 25% in dollars
reflecting the continued momentum of the Jimmy Choo <I>Man</I> scent launched late last year and the recent launch of Jimmy Choo
<I>Blossom</I>. Our third largest brand, Lanvin, had a modest 3% decline in sales in local currency.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Despite the severe and anticipated continuing
change in currency exchange rates, we maintain confidence in our future as we have strengthened advertising and promotional investments
supporting all portfolio brands and accelerated brand development. Our expectations reflect plans to continue to build upon the
strength of our brands and our worldwide distribution network. For the remainder of 2015, we expect strong performances from the
existing scents within our major European based prestige brands. In addition, our plans call for a number of new product launches
including new scents for Montblanc, Boucheron, Lanvin, Balmain and Van Cleef &amp; Arpels.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="margin: 0"><B>&nbsp;</B></P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-size: 12pt"><B><I>INTER PARFUMS, INC. AND SUBSIDIARIES</I></B></FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">United States based prestige product sales increased
16% to $22.5 million for the three months ended March 31, 2015, as compared to $19.4 million for the corresponding period of the
prior year. This increase reflects two first quarter 2015 new product launches, <I>Extraordinary</I> by Oscar de la Renta and <I>Icon</I>
by Dunhill. Both of these launches have exceeded our expectations, Oscar de la Renta brand sales increased 262% to $4.5 million
for the three months ended March&nbsp;31, 2015, as compared to $1.2 million for the corresponding period of the prior year. Dunhill
brand sales increased 72% in the period to $5.7 million, as compared to $3.3 million for the corresponding period of the prior
year. The Asian market continues to be a challenge and with no new product launches, Anna Sui brand sales was $2.3 million for
the period, as compared to $4.6 million for the corresponding period of the prior year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Net Sales to Customers by Region</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.15in; text-indent: 0in">(in millions)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; text-align: center">Three months ended March 31,</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-family: Courier New, Courier, Monospace; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">2014</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 70%; text-align: left">North America</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">30.8</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">31.0</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Western Europe</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">24.5</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">33.3</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Eastern Europe</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6.4</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9.0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Central and South America</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12.1</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12.2</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Middle East</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12.7</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12.9</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Asia</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20.1</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20.7</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt">Other</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2.6</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2.6</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Courier New, Courier, Monospace; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">109.2</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">121.7</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">For the three months ended March 31, 2015, the
sales decreases in Eastern and Western Europe primarily reflect the decline in Karl Lagerfeld brand sales.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; font-style: italic">Gross margin</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center"><font style="font-size: 10pt"><b>Three months ended March 31,</b></font></TD><TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt; padding-left: 0.125in">(in millions)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">2014</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 70%; text-align: left">Net sales</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">109.2</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">121.7</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt">Cost of sales</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">41.6</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">52.5</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Gross margin</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">67.6</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">69.2</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: right">&nbsp;</TD><TD STYLE="font-family: Courier New, Courier, Monospace; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Gross margin as a % of net sales</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">61.9</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">56.9</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Gross margin was 61.9% of net sales for the
three months ended March 31, 2015, as compared to 56.9% for the corresponding period of the prior year. For European operations,
gross profit margin was 64.7% and 59.6% in 2015 and 2014, respectively. The margin fluctuation for European operations is directly
related to currency fluctuation. We carefully monitor movements in foreign currency exchange rates as almost 50% of our European
based operations net sales are denominated in U.S. dollars, while most of our costs are incurred in euro. From a margin standpoint,
a strong U.S. dollar has a positive effect on our gross margin while a weak U.S. dollar has a negative effect. The average dollar/euro
exchange rate for the three months ended March 31, 2015 was 1.13, as compared to 1.37 for the 2014 period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="margin: 0"><B>&nbsp;</B></P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-size: 12pt"><B><I>INTER PARFUMS, INC. AND SUBSIDIARIES</I></B></FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">For U.S. operations, gross profit margin
was 51.1% and 42.5% in 2015 and 2014, respectively. The increase is primarily the result of a shift in product mix during the period
as sales growth for our U.S. operations has primarily come from our newest, higher margin prestige product licenses, such as Oscar
de la Renta and Dunhill, while sales of lower margin specialty retail and mass market products have been in a decline. This trend
is expected to continue throughout 2015.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Generally, we do not bill customers for shipping
and handling costs and such costs, which aggregated $1.1 million and $1.2 million for the three months ended March 31, 2015 and
2014, respectively, are included in selling, general and administrative expenses in the consolidated statements of income. As such,
our Company&rsquo;s gross profit may not be comparable to other companies which may include these expenses as a component of cost
of goods sold.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; font-style: italic">Selling, general and administrative expenses</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>(in millions)</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; text-align: center">Three months ended March 31,</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2014</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD><TD NOWRAP STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD><TD NOWRAP STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD><TD NOWRAP STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD><TD NOWRAP STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 70%; text-align: left; padding-bottom: 2.5pt">Selling, general and administrative expenses</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 12%; border-bottom: Black 2.5pt double; text-align: right">46.5</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="width: 12%; border-bottom: Black 2.5pt double; text-align: right">51.8</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Selling, general and administrative expenses &nbsp;as a % of net sales</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">43</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">43</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD></TR>
</TABLE>

<P STYLE="font: 10pt Courier; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Selling, general and administrative expenses
decreased 10% for the three months ended March 31, 2015, as compared to the corresponding period of the prior year. As a percentage
of sales, selling, general and administrative expenses were 43% for both the three months ended March 31, 2015 and 2014. For European
operations, selling, general and administrative expenses decreased 15% in 2015, as compared to 2014 and represented 43% of sales
in both 2015 and 2014. For U.S. operations, while sales increased 16% for the three months ended March 31, 2015, as compared to
the corresponding period of the prior year, selling, general and administrative expenses also increased 16% for the same period
and also represented 43% of sales in 2015 and 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Promotion and advertising included in selling,
general and administrative expenses aggregated approximately $12.6 million (11.5% of net sales) and $14.5 million (11.9% of net
sales) for the three months ended March 31, 2015 and 2014, respectively. As a percentage of sales, promotion and advertising expenditures
was practically the same for both periods.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Royalty expense included in selling, general and administrative expenses aggregated $8.6 million (7.8%
of net sales) and $7.8 million (6.4% of net sales), for the three month periods ended March 31, 2015 and 2014, respectively. In
the 2015 period, an additional $0.6 million has been accrued in an effort to settle our royalty liability with Burberry. Negotiations
with Burberry are ongoing and the Company does not anticipate any further increases to the royalty liability. The remaining increase
is the result of increased sales of licensed brand product combined with lower sales of Lanvin brand product for which no royalties
are due. S<FONT STYLE="font: 10pt Times New Roman, Times, Serif">ervice fees paid to third parties relating to the activities of
our distribution subsidiaries, aggregated $2.5 million (2.3% of net sales) and $3.3 million (2.7% of net sales), for the three
month periods ended March&nbsp;31, 2015 and 2014, respectively. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">As a result of the above analysis regarding
margins and selling, general and administrative expenses, income from operations increased 21% to $21.1 million for the three months
ended March 31, 2015, as compared to $17.4 million for the corresponding period of the prior year. Operating margins were 19.3%
of net sales in the current period as compared to 14.3% for the corresponding period of the prior year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="margin: 0"><B>&nbsp;</B></P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-size: 12pt"><B><I>INTER PARFUMS, INC. AND SUBSIDIARIES</I></B></FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B><I>Other Income and
Expense</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Interest expense aggregated $0.2 million and
$0.3 million for the three months ended March 31, 2015 and 2014, respectively. We use the credit lines available to us, as needed,
to finance our working capital needs as well as our financing needs for brand acquisitions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Foreign currency gains and (losses) aggregated
$(2.0) million and $0.1 million for the three months ended March 31, 2015 and 2014, respectively. The recent volatility in currency
exchange rates has not been seen in many years. The loss incurred for the three months ended March 31, 2015, primarily represents
losses from intercompany accounts between our majority owned subsidiary, Interparfums SA, and its other foreign subsidiaries, which
were not hedged by the use of foreign currency forward exchange contracts. We typically enter into foreign currency forward exchange
contracts to manage exposure related to receivables from unaffiliated third parties denominated in a foreign currency and occasionally
to manage risks related to future sales expected to be denominated in a foreign currency. Almost 50% of net sales of our European
operations are denominated in U.S. dollars.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B><I>Income Taxes</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Our effective income tax rate was 34% for both
the three months ended March&nbsp;31, 2015 and 2014. Our effective tax rates differ from statutory rates due to the effect of state
and local taxes and tax rates in foreign jurisdictions. We did not experience any<U> </U>significant changes in tax rates during
the period, and none were expected in jurisdictions where we operate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B><I>Net Income and Earnings per Share</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>(in thousands except per share data)</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center">Three months ended<BR> March 31,</TD><TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">2015</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">2014</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 70%; font-weight: normal; text-align: left">Net income attributable to European operations</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">12,197</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">12,217</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Net income (loss) attributable to United States operations</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,108</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(67</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Net Income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,305</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12,150</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Less: Net income attributable to the noncontrolling interest</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,298</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,256</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: normal; text-align: left; padding-bottom: 2.5pt">Net income attributable to Inter Parfums, Inc.</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">10,007</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">8,894</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.1in">Net income attributable to Inter Parfums, Inc. common shareholders:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.25in">Basic</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.32</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.29</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt; padding-left: 0.25in">Diluted</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">0.32</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">0.29</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 0.1in">Weighted average number of shares outstanding:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-left: 0.25in">Basic</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,979</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,900</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 2.5pt; padding-left: 0.25in">Diluted</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">31,072</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">31,058</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="margin: 0"><B>&nbsp;</B></P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-size: 12pt"><B><I>INTER PARFUMS, INC. AND SUBSIDIARIES</I></B></FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Net income increased 9.5% to $13.3 million for
the three months ended March 31, 2015, as compared to $12.2 million for the corresponding period of the prior year. The reasons
for significant fluctuations in net income for both European operations and United States operations are directly related to the
previous discussions relating to changes in sales, gross margin and selling, general and administrative expenses. As previously
discussed, our European operations reported net sales are affected by changes in foreign currency exchange rates, as a strong U.S.
dollar has a negative impact on reported net sales. However, earnings are positively affected by a strong U.S. dollar, because
almost 50% of net sales of our European operations are denominated in U.S. dollars, while almost all costs of our European operations
are incurred in euro. For United States operations, as both sales and selling, general and administrative expenses increased 16%,
the increase in net income is primarily the result of the 39% increase in gross margin.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The noncontrolling interest arises from our
73% owned subsidiary in Paris, Interparfums SA, which is also a publicly traded company as 27% of Interparfums SA shares trade
on the NYSE Euronext. Net income attributable to the noncontrolling interest is directly related to the profitability of our European
operations, and aggregated 27% of European operations net income in both 2015 and 2014. Net income attributable to Inter Parfums,
Inc. increased 12.5% to $10.0 million in 2015, as compared to $8.9 million in 2014. Net margins attributable to Inter Parfums,
Inc. aggregated 9.2% and 7.3% in the first quarters of 2015 and 2014, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Liquidity and Capital Resources</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Company&rsquo;s financial position remains
strong. At March 31, 2015, working capital aggregated $356 million and we had a working capital ratio of almost 4.5 to 1. Cash
and cash equivalents and short-term investments aggregated $243 million, most of which is held in euro by our European operations
and is readily convertible into U.S. dollars. We have not had any liquidity issues to date, and do not expect any liquidity issues
relating to such cash and cash equivalents and short-term investments held by our European operations. Approximately 88% of the
Company&rsquo;s total assets are held by European operations. In addition to the cash and cash equivalents and short-term investments
referred to above, approximately $76 million of trademarks, licenses and other intangible assets are held by European operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 31.5pt">In March 2015, the Company, through its
majority owned Paris-based subsidiary, Interparfums SA, entered into an agreement with The Procter &amp; Gamble Company to acquire
the Rochas brand. This transaction will cover all brand names and registered trademarks for class&nbsp;3 (cosmetics) and class
25 (fashion). The cost of the acquisition of $108 million is payable in cash on the closing date and is expected to be financed
entirely through a medium term loan. As the payment at closing is due in dollars and we plan to finance it with debt in euro, the
Company entered into foreign currency exchange contracts to secure the exchange rate of the $108 million purchase price at $1.067
per 1 euro. This transaction is expected to be completed within the first half of 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 31.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Company hopes to benefit from its substantial
resources to potentially acquire additional brands, either on a proprietary basis or as a licensee. Opportunities for external
growth continue to be examined without urgency, with the priority of maintaining the quality and homogeneous nature of our portfolio.
However, we cannot assure you that any new license or acquisition agreements will be consummated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="margin: 0"><B>&nbsp;</B></P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-size: 12pt"><B><I>INTER PARFUMS, INC. AND SUBSIDIARIES</I></B></FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Cash used in operating activities aggregated
$1.3 million and $27.3 million for the three months ended March 31, 2015 and 2014, respectively. For the three months ended March
31, 2015, working capital items used $16.6 million in cash from operating activities, as compared to $42.6 million in the 2014
period. Although accounts receivable is up 18%, the balance is reasonable based on first quarter 2015 sales levels and reflects
continued strong collection activity as day&rsquo;s sales outstanding is 79 days, as compared to the 74 days for the corresponding
period of the prior year. Inventory levels are up approximately 11% from year end and reflect levels needed to support upcoming
launches. The decline in accrued expenses primarily reflects the payments of advertising liabilities from 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Cash flows used in investing activities in 2015
reflect the purchase and sales, in our European operations, of short-term investments. These investments are primarily certificates
of deposit with maturities greater than three months. Approximately $85 million of such certificates of deposit contain penalties
where we would forfeit a portion of the interest earned in the event of early withdrawal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Our business is not capital intensive as we
do not own any manufacturing facilities. However, on a full year basis, we spend approximately $3.0 million to $4.0 million on
tools and molds, depending on our new product development calendar. Capital expenditures also include amounts for office fixtures,
computer equipment and industrial equipment needed at our distribution centers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Our short-term financing requirements are expected
to be met by available cash on hand at March 31, 2015, cash generated by operations and short-term credit lines provided by domestic
and foreign banks. The principal credit facilities for 2015 consist of a $20.0 million unsecured revolving line of credit provided
by a domestic commercial bank and approximately $30.0 million in credit lines provided by a consortium of international financial
institutions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 35pt">In January 2015, the Board of Directors authorized
an 8% increase in the annual dividend to $0.52 per share. The next quarterly cash dividend of $0.13 per share is payable on July&nbsp;15,
2015 to shareholders of record on June 29, 2015. The annual cash dividend for 2015 represents a small part of our cash position
and is not expected to have any significant impact on our financial position.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We believe that funds provided by or used in
operations can be supplemented by our present cash position and available credit facilities, so that they will provide us with
sufficient resources to meet all present and reasonably foreseeable future operating needs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Inflation rates in the U.S. and foreign countries
in which we operate did not have a significant impact on operating results for the three month period ended March 31, 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -1in"><B>&nbsp;</B></P>

<P STYLE="margin: 0"><B></B></P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-size: 12pt"><B><I>INTER PARFUMS, INC. AND SUBSIDIARIES</I></B></FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in; text-align: left"><A NAME="a_010"></A><B>Item 3:</B></TD><TD STYLE="text-align: justify"><B>QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET
RISK</B></TD>
</TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>General</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We address certain financial exposures through
a controlled program of risk management that primarily consists of the use of derivative financial instruments. We primarily enter
into foreign currency forward exchange contracts in order to reduce the effects of fluctuating foreign currency exchange rates.
We do not engage in the trading of foreign currency forward exchange contracts or interest rate swaps.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Foreign Exchange Risk Management </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We periodically enter into foreign currency
forward exchange contracts to hedge exposure related to receivables denominated in a foreign currency and to manage risks related
to future sales expected to be denominated in a currency other than our functional currency. We enter into these exchange contracts
for periods consistent with our identified exposures. The purpose of the hedging activities is to minimize the effect of foreign
exchange rate movements on the receivables and cash flows of Interparfums SA, our French subsidiary, whose functional currency
is the euro. All foreign currency contracts are denominated in currencies of major<B> </B>industrial<B> </B>countries<B> </B>and
are with large<B> </B>financial institutions, which are rated<B> </B>as<B> </B>strong<B> </B>investment<B> </B>grade.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">All derivative instruments are required to be
reflected as either assets or liabilities in the balance sheet measured at fair value. Generally, increases or decreases in fair
value of derivative instruments will be recognized as gains or losses in earnings in the period of change. If the derivative is
designated and qualifies as a cash flow hedge, then the changes in fair value of the derivative instrument will be recorded in
other comprehensive income.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Before entering into a derivative transaction
for hedging purposes, we determine that the change in the value of the derivative will effectively offset the change in the fair
value of the hedged item from a movement in foreign currency rates. Then, we measure the effectiveness of each hedge throughout
the hedged period. Any hedge ineffectiveness is recognized in the income statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">At March 31, 2015, we had foreign currency contracts
in the form of forward exchange contracts in the amount of approximately U.S. $126.7&nbsp;million, GB pounds &pound;2.2&nbsp;million
and JPY &yen;220.7 million which all have maturities of less than one year. We believe that our risk of loss as the result of nonperformance
by any of such financial institutions is remote.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Interest Rate Risk Management</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We mitigate interest rate risk by monitoring
interest rates, and then determining whether fixed interest rates should be swapped for floating rate debt, or if floating rate
debt should be swapped for fixed rate debt.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="margin: 0"><B>&nbsp;</B></P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-size: 12pt"><B><I>INTER PARFUMS, INC. AND SUBSIDIARIES</I></B></FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in; text-align: left"><A NAME="a_011"></A><B>Item 4.</B></TD><TD STYLE="text-align: justify"><B>CONTROLS AND PROCEDURES</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Evaluation of Disclosure Controls and Procedures </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Our Chief Executive Officer and Chief Financial
Officer have reviewed and evaluated the effectiveness of our disclosure controls and procedures (as defined in the Securities Exchange
Act of 1934 Rule 13a-15(e)) as of the end of the period covered by this quarterly report on Form 10-Q (the &ldquo;Evaluation Date&rdquo;).
Based on their review and evaluation, our Chief Executive Officer and Chief Financial Officer have concluded that as of the Evaluation
Date, our Company's disclosure controls and procedures were effective.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Changes in Internal Control Over Financial Reporting </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">There has been no change in our internal control
over financial reporting (as defined in Rule 13a-15(f) of the Securities Exchange Act of 1934) that occurred during the quarterly
period covered by this report on Form 10-Q that has materially affected, or is reasonably likely to materially affect, the Company's
internal control over financial reporting. &nbsp;In 2015, the Company has implemented <I>Internal Control &ndash; Integrated Framework (2013)</I>
issued by the Committee of Sponsoring Organizations of the Treadway Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><A NAME="a_012"></A><B>Part II. Other Information</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in; text-align: left"><A NAME="a_013"></A><B>Item 2:</B></TD><TD STYLE="text-align: justify"><B>Unregistered Sales of Equity Securities and Use of Proceeds</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In March 2015, one of our non-employee directors
exercised stock options granted under out Non-Employee Director Stock Option Plan to purchase an aggregate of 875 shares of restricted
common stock. The director agreed to purchase the shares for investment and not for resale to the public. Such transaction was
exempt from the registration requirements of Section 5 of the Securities Act under Sections 4(2) and 4(6) of the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Items 1. Legal Proceedings, <FONT STYLE="text-transform: uppercase">1a.
</FONT>Risk Factors, 3. Defaults Upon Senior Securities, 4. Mine Safety Disclosures and 5. Other Information, are omitted as they
are either not applicable or have been included&nbsp;in Part I.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="margin: 0"><B></B></P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-size: 12pt"><B><I>INTER PARFUMS, INC. AND SUBSIDIARIES</I></B></FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left"><A NAME="a_014"></A><B>Item 6.</B></TD><TD STYLE="text-align: justify"><B>Exhibits.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The following documents are filed herewith:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD NOWRAP STYLE="width: 17%; border-bottom: Black 1pt solid; font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: normal 10pt Times New Roman, Times, Serif">Exhibit No.</font></td>
    <TD NOWRAP STYLE="width: 3%; font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</font></td>
    <TD NOWRAP STYLE="width: 61%; border-bottom: Black 1pt solid; font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: normal 10pt Times New Roman, Times, Serif">Description</font></td>
    <TD NOWRAP STYLE="width: 2%; font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</font></td>
    <TD NOWRAP STYLE="width: 17%; border-bottom: Black 1pt solid; font-weight: bold; text-align: center; font-family: Courier New, Courier, Monospace"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif">Page
    Number</FONT></td></tr>
<tr style="vertical-align: top">
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</font></td>
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</font></td>
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</font></td>
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></td>
    <TD STYLE="font-weight: bold; text-align: center; font-family: Courier New, Courier, Monospace"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace; text-decoration: none"><font style="font: normal 10pt Times New Roman, Times, Serif">2.1</font></td>
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</font></td>
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: normal 10pt Times New Roman, Times, Serif">Asset Purchase Agreement dated March 18, 2015 among The Procter &amp; Gamble Company and two of its subsidiaries, Parfums Rochas SAS and Procter &amp; Gamble International Operations SA, and Interparfums SA* </font></td>
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></td>
    <TD STYLE="font-weight: bold; text-align: center; font-family: Courier New, Courier, Monospace"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">31&nbsp;</FONT></td></tr>
<tr style="vertical-align: top">
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</font></td>
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></td>
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></td>
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;</font></td>
    <TD STYLE="font-weight: bold; text-align: center; font-family: Courier New, Courier, Monospace"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<tr style="vertical-align: top">
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: normal 10pt Times New Roman, Times, Serif">31.1</font></td>
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</font></td>
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: normal 10pt Times New Roman, Times, Serif">Certifications required by Rule 13a-14(a) of Chief Executive Officer</font></td>
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</font></td>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">112&nbsp;</FONT></td></tr>
<tr style="vertical-align: top">
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</font></td>
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</font></td>
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</font></td>
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</font></td>
    <TD STYLE="font-weight: bold; text-align: center; font-family: Courier New, Courier, Monospace"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<tr style="vertical-align: top">
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: normal 10pt Times New Roman, Times, Serif">31.2</font></td>
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</font></td>
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: normal 10pt Times New Roman, Times, Serif">Certifications required by Rule 13a-14(a) of Chief Financial Officer</font></td>
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</font></td>
    <TD STYLE="text-align: center">113</td></tr>
<tr style="vertical-align: top">
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</font></td>
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</font></td>
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</font></td>
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</font></td>
    <TD STYLE="font-weight: bold; text-align: center; font-family: Courier New, Courier, Monospace"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<tr style="vertical-align: top">
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: normal 10pt Times New Roman, Times, Serif">32.1</font></td>
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</font></td>
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: normal 10pt Times New Roman, Times, Serif">Certification required by Section 906 of the Sarbanes-Oxley Act of Chief Executive Officer</font></td>
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</font></td>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT>114</td></tr>
<tr style="vertical-align: top">
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</font></td>
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</font></td>
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</font></td>
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</font></td>
    <TD STYLE="font-weight: bold; text-align: center; font-family: Courier New, Courier, Monospace"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<tr style="vertical-align: top">
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif">32.2</FONT></td>
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</font></td>
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: normal 10pt Times New Roman, Times, Serif">Certification required by Section 906 of the Sarbanes-Oxley Act of Chief Financial Officer</font></td>
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</font></td>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT>115</td></tr>
<tr style="vertical-align: top">
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</font></td>
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</font></td>
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</font></td>
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</font></td>
    <TD STYLE="font-weight: bold; text-align: center; font-family: Courier New, Courier, Monospace"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<tr style="vertical-align: top">
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: normal 10pt Times New Roman, Times, Serif">101</font></td>
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</font></td>
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: normal 10pt Times New Roman, Times, Serif">Interactive data files</font></td>
    <td style="font-weight: bold; text-align: left; font-family: Courier New, Courier, Monospace"><font style="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</font></td>
    <TD STYLE="font-weight: bold; text-align: center; font-family: Courier New, Courier, Monospace"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">*Schedules have been omitted pursuant to Item 601(b)(2) of Regulation
S-K. A copy of any omitted schedule will be furnished supplementally to the Securities and Exchange Commission upon request; provided,
however that the Company may request confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934 for any
schedule or exhibit so furnished.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><A NAME="a_015"></A><U>SIGNATURES</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized
on the 11th day of May 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</td>
    <TD STYLE="width: 4%">&nbsp;</td>
    <TD STYLE="width: 46%"><b>INTER PARFUMS, INC.</b></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>By:</td>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Russell Greenberg</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</td>
    <TD STYLE="font-family: Courier New, Courier, Monospace">&nbsp;</td>
    <TD STYLE="font-family: Courier New, Courier, Monospace"><font style="font-family: Times New Roman, Times, Serif">Executive Vice President and</font></td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>Chief Financial Officer</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<DOCUMENT>
<TYPE>EX-2.1
<SEQUENCE>2
<FILENAME>v408666_ex2-1.htm
<DESCRIPTION>EXHIBIT 2.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>EXHIBIT 2.1- EXECUTION VERSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>CONFIDENTIAL</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>TRANSACTION AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>between</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>The
Procter &amp; Gamble CoMPANY, </B></FONT><B>as Seller</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>PARFUMS
ROCHAS SAS and Procter &amp; Gamble INTERNATIONAL OPERATIONS SA, </B></FONT><B>as Obligees</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>and</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>INTERPARFUMS
S.A., </B></FONT><B>as Acquiror</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Dated as of</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>18 March 2015</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>TABLE OF CONTENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 8%; text-align: right"><B>&nbsp;</B></TD>
    <TD STYLE="width: 6%; text-align: right"><B>&nbsp;</B></TD>
    <TD STYLE="width: 76%; text-align: right"><B>&nbsp;</B></TD>
    <TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: center"><B>Page</B></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in; text-transform: uppercase">I.</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in; text-transform: uppercase">Purchase and sale</TD>
    <TD STYLE="text-align: right; text-indent: 0in; text-transform: uppercase">1</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">1.01</TD>
    <TD STYLE="text-indent: 0in">Sale of Assets</TD>
    <TD STYLE="text-align: right; text-indent: 0in">1</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">1.02</TD>
    <TD STYLE="text-indent: 0in">Assumption of Liabilities</TD>
    <TD STYLE="text-align: right; text-indent: 0in">1</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">1.03</TD>
    <TD STYLE="text-indent: 0in">Misallocated Transfers</TD>
    <TD STYLE="text-align: right; text-indent: 0in">1</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">1.04</TD>
    <TD STYLE="text-indent: 0in">Acquired Assets</TD>
    <TD STYLE="text-align: right; text-indent: 0in">2</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">1.05</TD>
    <TD STYLE="text-indent: 0in">Rochas Liabilities</TD>
    <TD STYLE="text-align: right; text-indent: 0in">6</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">1.06</TD>
    <TD STYLE="text-indent: 0in">Transfers In Violation of Law or Required Consents</TD>
    <TD STYLE="text-align: right; text-indent: 0in">8</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">1.07</TD>
    <TD STYLE="text-indent: 0in">Waiver of Bulk-Sales Laws</TD>
    <TD STYLE="text-align: right; text-indent: 0in">9</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">1.08</TD>
    <TD STYLE="text-indent: 0in">Closing</TD>
    <TD STYLE="text-align: right; text-indent: 0in">9</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">1.09</TD>
    <TD STYLE="text-indent: 0in">Purchase Price</TD>
    <TD STYLE="text-align: right; text-indent: 0in">9</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">1.10</TD>
    <TD STYLE="text-indent: 0in">Inventory Adjustment</TD>
    <TD STYLE="text-align: right; text-indent: 0in">10</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">1.11</TD>
    <TD STYLE="text-indent: 0in">Closing Deliveries</TD>
    <TD STYLE="text-align: right; text-indent: 0in">12</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">1.12</TD>
    <TD STYLE="text-indent: 0in">Conveyance of Acquired Assets and Assumption of Assumed Liabilities</TD>
    <TD STYLE="text-align: right; text-indent: 0in">13</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">1.13</TD>
    <TD STYLE="text-indent: 0in">Escrow</TD>
    <TD STYLE="text-align: right; text-indent: 0in">13</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in; text-transform: uppercase">&nbsp;</TD>
    <TD STYLE="text-indent: 0in; text-transform: uppercase">&nbsp;</TD>
    <TD STYLE="text-indent: 0in; text-transform: uppercase">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in; text-transform: uppercase">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in; text-transform: uppercase">II.</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in; text-transform: uppercase">REPRESENTATIONS AND WARRANTIES OF Seller</TD>
    <TD STYLE="text-align: right; text-indent: 0in; text-transform: uppercase">14</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">2.01</TD>
    <TD STYLE="text-indent: 0in">Due Organization, Good Standing and Corporate Power</TD>
    <TD STYLE="text-align: right; text-indent: 0in">14</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">2.02</TD>
    <TD STYLE="text-indent: 0in">Authorization of Agreement</TD>
    <TD STYLE="text-align: right; text-indent: 0in">14</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">2.03</TD>
    <TD STYLE="text-indent: 0in">Consents and Approvals; No Violations</TD>
    <TD STYLE="text-align: right; text-indent: 0in">15</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">2.04</TD>
    <TD STYLE="text-indent: 0in">Intellectual Property</TD>
    <TD STYLE="text-align: right; text-indent: 0in">15</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">2.05</TD>
    <TD STYLE="text-indent: 0in">Litigation</TD>
    <TD STYLE="text-align: right; text-indent: 0in">16</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">2.06</TD>
    <TD STYLE="text-indent: 0in">Compliance With Laws</TD>
    <TD STYLE="text-align: right; text-indent: 0in">17</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">2.07</TD>
    <TD STYLE="text-indent: 0in">Contracts</TD>
    <TD STYLE="text-align: right; text-indent: 0in">17</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
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    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">2.08</TD>
    <TD STYLE="text-indent: 0in">Employees and Employee Benefits</TD>
    <TD STYLE="text-align: right; text-indent: 0in">19</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
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    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">2.09</TD>
    <TD STYLE="text-indent: 0in">Absence of Changes</TD>
    <TD STYLE="text-align: right; text-indent: 0in">20</TD></TR>
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    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
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    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">2.10</TD>
    <TD STYLE="text-indent: 0in">Taxes</TD>
    <TD STYLE="text-align: right; text-indent: 0in">20</TD></TR>
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    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
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    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">2.11</TD>
    <TD STYLE="text-indent: 0in">Broker&rsquo;s or Finder&rsquo;s Fee</TD>
    <TD STYLE="text-align: right; text-indent: 0in">21</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">2.12</TD>
    <TD STYLE="text-indent: 0in">Title to Properties; Security Interests</TD>
    <TD STYLE="text-align: right; text-indent: 0in">21</TD></TR>
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    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
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    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">2.13</TD>
    <TD STYLE="text-indent: 0in">Sufficiency; Condition of Assets</TD>
    <TD STYLE="text-align: right; text-indent: 0in">21</TD></TR>
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    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">2.14</TD>
    <TD STYLE="text-indent: 0in">Real Property</TD>
    <TD STYLE="text-align: right; text-indent: 0in">22</TD></TR>
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    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
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    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">2.15</TD>
    <TD STYLE="text-indent: 0in">Access to Fragrances</TD>
    <TD STYLE="text-align: right; text-indent: 0in">22</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>TABLE OF CONTENTS</B><BR>
<B>(continued)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 8%; text-align: right"><B>&nbsp;</B></TD>
    <TD STYLE="width: 6%; text-align: right"><B>&nbsp;</B></TD>
    <TD STYLE="width: 76%; text-align: right"><B>&nbsp;</B></TD>
    <TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: center"><B>Page</B></TD></TR>
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    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">2.16</TD>
    <TD STYLE="text-indent: 0in">French labor law obligations</TD>
    <TD STYLE="text-align: right; text-indent: 0in">23</TD></TR>
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    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">2.17</TD>
    <TD STYLE="text-indent: 0in">Revenues and Net Results Prior to Closing</TD>
    <TD STYLE="text-align: right; text-indent: 0in">23</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">2.18</TD>
    <TD STYLE="text-indent: 0in">No Other Representations or Warranties</TD>
    <TD STYLE="text-align: right; text-indent: 0in">23</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in; text-transform: uppercase">&nbsp;</TD>
    <TD STYLE="text-indent: 0in; text-transform: uppercase">&nbsp;</TD>
    <TD STYLE="text-indent: 0in; text-transform: uppercase">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in; text-transform: uppercase">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in; text-transform: uppercase">III.</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in; text-transform: uppercase">REPRESENTATIONS AND WARRANTIES OF Acquiror</TD>
    <TD STYLE="text-align: right; text-indent: 0in; text-transform: uppercase">24</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">3.01</TD>
    <TD STYLE="text-indent: 0in">Due Organization, Good Standing and Corporate Power</TD>
    <TD STYLE="text-align: right; text-indent: 0in">24</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">3.02</TD>
    <TD STYLE="text-indent: 0in">Authorization of Agreement</TD>
    <TD STYLE="text-align: right; text-indent: 0in">24</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">3.03</TD>
    <TD STYLE="text-indent: 0in">Consents and Approvals; No Violations</TD>
    <TD STYLE="text-align: right; text-indent: 0in">24</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">3.04</TD>
    <TD STYLE="text-indent: 0in">Broker&rsquo;s or Finder&rsquo;s Fee</TD>
    <TD STYLE="text-align: right; text-indent: 0in">25</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">3.05</TD>
    <TD STYLE="text-indent: 0in">Financing</TD>
    <TD STYLE="text-align: right; text-indent: 0in">25</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">3.06</TD>
    <TD STYLE="text-indent: 0in">Litigation</TD>
    <TD STYLE="text-align: right; text-indent: 0in">25</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">3.07</TD>
    <TD STYLE="text-indent: 0in">Solvency</TD>
    <TD STYLE="text-align: right; text-indent: 0in">25</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">3.08</TD>
    <TD STYLE="text-indent: 0in">Independent Investigation</TD>
    <TD STYLE="text-align: right; text-indent: 0in">26</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">3.09</TD>
    <TD STYLE="text-indent: 0in">No Other Representations or Warranties; Acknowledgement by Acquiror</TD>
    <TD STYLE="text-align: right; text-indent: 0in">26</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in; text-transform: uppercase">&nbsp;</TD>
    <TD STYLE="text-indent: 0in; text-transform: uppercase">&nbsp;</TD>
    <TD STYLE="text-indent: 0in; text-transform: uppercase">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in; text-transform: uppercase">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in; text-transform: uppercase">IV.</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in; text-transform: uppercase">COVENANTS</TD>
    <TD STYLE="text-align: right; text-indent: 0in; text-transform: uppercase">26</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">4.01</TD>
    <TD STYLE="text-indent: 0in">Conduct of Rochas Business Pending the Closing</TD>
    <TD STYLE="text-align: right; text-indent: 0in">26</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">4.02</TD>
    <TD STYLE="text-indent: 0in">Further Assurances; Efforts To Obtain Consents; Antitrust Clearance</TD>
    <TD STYLE="text-align: right; text-indent: 0in">28</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">4.03</TD>
    <TD STYLE="text-indent: 0in">Public Announcements</TD>
    <TD STYLE="text-align: right; text-indent: 0in">29</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">4.04</TD>
    <TD STYLE="text-indent: 0in">Notification of Certain Matters</TD>
    <TD STYLE="text-align: right; text-indent: 0in">30</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">4.05</TD>
    <TD STYLE="text-indent: 0in">Access</TD>
    <TD STYLE="text-align: right; text-indent: 0in">30</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">4.06</TD>
    <TD STYLE="text-indent: 0in">Agreement for Exchange of Information</TD>
    <TD STYLE="text-align: right; text-indent: 0in">31</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">4.07</TD>
    <TD STYLE="text-indent: 0in">Privileged Matters</TD>
    <TD STYLE="text-align: right; text-indent: 0in">33</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">4.08</TD>
    <TD STYLE="text-indent: 0in">Non-Solicitation; No Hiring</TD>
    <TD STYLE="text-align: right; text-indent: 0in">34</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">4.09</TD>
    <TD STYLE="text-indent: 0in">Intellectual Property Assignment/Recordation</TD>
    <TD STYLE="text-align: right; text-indent: 0in">35</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">4.10</TD>
    <TD STYLE="text-indent: 0in">Use of Seller Names and Marks</TD>
    <TD STYLE="text-align: right; text-indent: 0in">35</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">4.11</TD>
    <TD STYLE="text-indent: 0in">Removal of Tangible Assets</TD>
    <TD STYLE="text-align: right; text-indent: 0in">36</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">4.12</TD>
    <TD STYLE="text-indent: 0in">Access to Fragrances</TD>
    <TD STYLE="text-align: right; text-indent: 0in">37</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">4.13</TD>
    <TD STYLE="text-indent: 0in">Insurance Matters</TD>
    <TD STYLE="text-align: right; text-indent: 0in">37</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">4.14</TD>
    <TD STYLE="text-indent: 0in">Confidentiality</TD>
    <TD STYLE="text-align: right; text-indent: 0in">38</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>TABLE OF CONTENTS</B><BR>
<B>(continued)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 8%; text-align: right"><B>&nbsp;</B></TD>
    <TD STYLE="width: 6%; text-align: right"><B>&nbsp;</B></TD>
    <TD STYLE="width: 76%; text-align: right"><B>&nbsp;</B></TD>
    <TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: center"><B>Page</B></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">4.15</TD>
    <TD STYLE="text-indent: 0in">Transition Coordination; Completion of Agreements</TD>
    <TD STYLE="text-align: right; text-indent: 0in">39</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">4.16</TD>
    <TD STYLE="text-indent: 0in">No Shop</TD>
    <TD STYLE="text-align: right; text-indent: 0in">40</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">4.17</TD>
    <TD STYLE="text-indent: 0in">Rochas Name</TD>
    <TD STYLE="text-align: right; text-indent: 0in">40</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in; text-transform: uppercase">&nbsp;</TD>
    <TD STYLE="text-indent: 0in; text-transform: uppercase">&nbsp;</TD>
    <TD STYLE="text-indent: 0in; text-transform: uppercase">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in; text-transform: uppercase">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in; text-transform: uppercase">V.</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in; text-transform: uppercase">EMPLOYEE MATTERS</TD>
    <TD STYLE="text-align: right; text-indent: 0in; text-transform: uppercase">40</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">5.01</TD>
    <TD STYLE="text-indent: 0in">Identification of Employees</TD>
    <TD STYLE="text-align: right; text-indent: 0in">40</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">5.02</TD>
    <TD STYLE="text-indent: 0in">Transferred Employees</TD>
    <TD STYLE="text-align: right; text-indent: 0in">40</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">5.03</TD>
    <TD STYLE="text-indent: 0in">Terms of Employment</TD>
    <TD STYLE="text-align: right; text-indent: 0in">41</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">5.04</TD>
    <TD STYLE="text-indent: 0in">Bonuses and Incentives</TD>
    <TD STYLE="text-align: right; text-indent: 0in">41</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">5.05</TD>
    <TD STYLE="text-indent: 0in">Credit for Service with Seller</TD>
    <TD STYLE="text-align: right; text-indent: 0in">42</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">5.06</TD>
    <TD STYLE="text-indent: 0in">Miscellaneous</TD>
    <TD STYLE="text-align: right; text-indent: 0in">42</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in; text-transform: uppercase">&nbsp;</TD>
    <TD STYLE="text-indent: 0in; text-transform: uppercase">&nbsp;</TD>
    <TD STYLE="text-indent: 0in; text-transform: uppercase">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in; text-transform: uppercase">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in; text-transform: uppercase">VI.</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in; text-transform: uppercase">CONDITIONS</TD>
    <TD STYLE="text-align: right; text-indent: 0in; text-transform: uppercase">43</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">6.01</TD>
    <TD STYLE="text-indent: 0in">Joint Conditions</TD>
    <TD STYLE="text-align: right; text-indent: 0in">43</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">6.02</TD>
    <TD STYLE="text-indent: 0in">Conditions to the Obligation of Acquiror</TD>
    <TD STYLE="text-align: right; text-indent: 0in">44</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">6.03</TD>
    <TD STYLE="text-indent: 0in">Conditions to the Obligation of Seller</TD>
    <TD STYLE="text-align: right; text-indent: 0in">44</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">6.04</TD>
    <TD STYLE="text-indent: 0in">Frustration of Conditions</TD>
    <TD STYLE="text-align: right; text-indent: 0in">45</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in; text-transform: uppercase">&nbsp;</TD>
    <TD STYLE="text-indent: 0in; text-transform: uppercase">&nbsp;</TD>
    <TD STYLE="text-indent: 0in; text-transform: uppercase">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in; text-transform: uppercase">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in; text-transform: uppercase">VII.</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in; text-transform: uppercase">TERMINATION AND ABANDONMENT</TD>
    <TD STYLE="text-align: right; text-indent: 0in; text-transform: uppercase">45</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">7.01</TD>
    <TD STYLE="text-indent: 0in">Basis for Termination</TD>
    <TD STYLE="text-align: right; text-indent: 0in">45</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">7.02</TD>
    <TD STYLE="text-indent: 0in">Notice of Termination; Return of Documents; Continuing Confidentiality Obligation</TD>
    <TD STYLE="text-align: right; text-indent: 0in">46</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">7.03</TD>
    <TD STYLE="text-indent: 0in">Effect of Termination</TD>
    <TD STYLE="text-align: right; text-indent: 0in">47</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in; text-transform: uppercase">&nbsp;</TD>
    <TD STYLE="text-indent: 0in; text-transform: uppercase">&nbsp;</TD>
    <TD STYLE="text-indent: 0in; text-transform: uppercase">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in; text-transform: uppercase">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in; text-transform: uppercase">VIII.</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in; text-transform: uppercase">INDEMNIFICATION</TD>
    <TD STYLE="text-align: right; text-indent: 0in; text-transform: uppercase">47</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">8.01</TD>
    <TD STYLE="text-indent: 0in">Indemnification by Acquiror</TD>
    <TD STYLE="text-align: right; text-indent: 0in">47</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">8.02</TD>
    <TD STYLE="text-indent: 0in">Indemnification by Seller</TD>
    <TD STYLE="text-align: right; text-indent: 0in">47</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">8.03</TD>
    <TD STYLE="text-indent: 0in">Calculation and Other Provisions Relating to Indemnity Payments</TD>
    <TD STYLE="text-align: right; text-indent: 0in">48</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">8.04</TD>
    <TD STYLE="text-indent: 0in">Procedures for Defense, Settlement and Indemnification of Claims</TD>
    <TD STYLE="text-align: right; text-indent: 0in">48</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">8.05</TD>
    <TD STYLE="text-indent: 0in">Additional Matters</TD>
    <TD STYLE="text-align: right; text-indent: 0in">51</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">8.06</TD>
    <TD STYLE="text-indent: 0in">Exclusive Remedy</TD>
    <TD STYLE="text-align: right; text-indent: 0in">52</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">8.07</TD>
    <TD STYLE="text-indent: 0in">Limitations on Indemnification</TD>
    <TD STYLE="text-align: right; text-indent: 0in">53</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">8.08</TD>
    <TD STYLE="text-indent: 0in">Tax Treatment of Indemnification</TD>
    <TD STYLE="text-align: right; text-indent: 0in">53</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">8.09</TD>
    <TD STYLE="text-indent: 0in">Indemnification in Case of Strict Liability or Indemnitee Negligence</TD>
    <TD STYLE="text-align: right; text-indent: 0in">53</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>TABLE OF CONTENTS</B><BR>
<B>(continued)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 8%; text-align: right"><B>&nbsp;</B></TD>
    <TD STYLE="width: 6%; text-align: right"><B>&nbsp;</B></TD>
    <TD STYLE="width: 76%; text-align: right"><B>&nbsp;</B></TD>
    <TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: center"><B>Page</B></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in; text-transform: uppercase">IX.</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in; text-transform: uppercase">TAX MATTERS</TD>
    <TD STYLE="text-align: right; text-indent: 0in; text-transform: uppercase">54</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">9.01</TD>
    <TD STYLE="text-indent: 0in">Allocation of Cash Purchase Price</TD>
    <TD STYLE="text-align: right; text-indent: 0in">54</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">9.02</TD>
    <TD STYLE="text-indent: 0in">Transfer Taxes</TD>
    <TD STYLE="text-align: right; text-indent: 0in">54</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">9.03</TD>
    <TD STYLE="text-indent: 0in">VAT</TD>
    <TD STYLE="text-align: right; text-indent: 0in">54</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">9.04</TD>
    <TD STYLE="text-indent: 0in">Registration in France</TD>
    <TD STYLE="text-align: right; text-indent: 0in">54</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">9.05</TD>
    <TD STYLE="text-indent: 0in">Statement of Fairness</TD>
    <TD STYLE="text-align: right; text-indent: 0in">55</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">9.06</TD>
    <TD STYLE="text-indent: 0in">Miscellaneous</TD>
    <TD STYLE="text-align: right; text-indent: 0in">55</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in; text-transform: uppercase">&nbsp;</TD>
    <TD STYLE="text-indent: 0in; text-transform: uppercase">&nbsp;</TD>
    <TD STYLE="text-indent: 0in; text-transform: uppercase">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in; text-transform: uppercase">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in; text-transform: uppercase">X.</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in; text-transform: uppercase">MISCELLANEOUS</TD>
    <TD STYLE="text-align: right; text-indent: 0in; text-transform: uppercase">55</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">10.01</TD>
    <TD STYLE="text-indent: 0in">Survival of Representations and Warranties</TD>
    <TD STYLE="text-align: right; text-indent: 0in">55</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">10.02</TD>
    <TD STYLE="text-indent: 0in">Expenses</TD>
    <TD STYLE="text-align: right; text-indent: 0in">55</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">10.03</TD>
    <TD STYLE="text-indent: 0in">Entire Agreement</TD>
    <TD STYLE="text-align: right; text-indent: 0in">56</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">10.04</TD>
    <TD STYLE="text-indent: 0in">Governing Law; Jurisdiction; Waiver of Jury Trial</TD>
    <TD STYLE="text-align: right; text-indent: 0in">56</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">10.05</TD>
    <TD STYLE="text-indent: 0in">Notices</TD>
    <TD STYLE="text-align: right; text-indent: 0in">56</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">10.06</TD>
    <TD STYLE="text-indent: 0in">Amendments and Waivers</TD>
    <TD STYLE="text-align: right; text-indent: 0in">57</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">10.07</TD>
    <TD STYLE="text-indent: 0in">No Third-Party Beneficiaries</TD>
    <TD STYLE="text-align: right; text-indent: 0in">58</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">10.08</TD>
    <TD STYLE="text-indent: 0in">Assignability</TD>
    <TD STYLE="text-align: right; text-indent: 0in">58</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">10.09</TD>
    <TD STYLE="text-indent: 0in">Construction</TD>
    <TD STYLE="text-align: right; text-indent: 0in">58</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">10.10</TD>
    <TD STYLE="text-indent: 0in">Severability</TD>
    <TD STYLE="text-align: right; text-indent: 0in">59</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">10.11</TD>
    <TD STYLE="text-indent: 0in">Counterparts, Etc</TD>
    <TD STYLE="text-align: right; text-indent: 0in">59</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">10.12</TD>
    <TD STYLE="text-indent: 0in">Specific Performance</TD>
    <TD STYLE="text-align: right; text-indent: 0in">59</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">10.13</TD>
    <TD STYLE="text-indent: 0in">Disclosure Letters</TD>
    <TD STYLE="text-align: right; text-indent: 0in">59</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">10.14</TD>
    <TD STYLE="text-indent: 0in">Waiver</TD>
    <TD STYLE="text-align: right; text-indent: 0in">60</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">10.15</TD>
    <TD STYLE="text-indent: 0in">Dispute Resolution</TD>
    <TD STYLE="text-align: right; text-indent: 0in">60</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">10.16</TD>
    <TD STYLE="text-indent: 0in">Obligations of Affiliates</TD>
    <TD STYLE="text-align: right; text-indent: 0in">60</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-indent: 0in; text-transform: uppercase">&nbsp;</TD>
    <TD STYLE="text-indent: 0in; text-transform: uppercase">&nbsp;</TD>
    <TD STYLE="text-indent: 0in; text-transform: uppercase">&nbsp;</TD>
    <TD STYLE="text-align: right; text-indent: 0in; text-transform: uppercase">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0in; text-transform: uppercase">XI.</TD>
    <TD COLSPAN="2" STYLE="text-indent: 0in; text-transform: uppercase">definitions</TD>
    <TD STYLE="text-align: right; text-indent: 0in; text-transform: uppercase">61</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>EXHIBITS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -1in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%">Exhibit A</TD>
    <TD STYLE="width: 85%">Transaction Announcement</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Exhibit B</TD>
    <TD>Seller Shared Technology License Agreement</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Exhibit C</TD>
    <TD>Transitional Supply Agreements</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center">transaction
agreement</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">This Transaction Agreement (this &ldquo;<U>Agreement</U>&rdquo;),
dated 18 March 2015, is between The Procter &amp; Gamble Company, an Ohio corporation (&ldquo;Seller&rdquo;), and Interparfums,
a French <I>soci&eacute;t&eacute; anonyme</I> (&ldquo;Acquiror&rdquo;), as well as Parfums Rochas SAS, a French <I>soci&eacute;t&eacute;
par actions simplifi&eacute;e</I> and Procter &amp; Gamble International Operations SA, Swiss <I>soci&eacute;t&eacute; anonyme</I>
(Parfums Rochas SAS and Procter &amp; Gamble International Operations SA are hereinafter referred to as &ldquo;Obligees&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>RECITALS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Seller
is engaged, directly and indirectly through certain of its Subsidiaries, notably including the Obligees, in the Rochas Business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Seller
has determined that it would be appropriate to divest the Rochas Business in the manner contemplated hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acquiror
desires to purchase from Seller, and Seller desires to Convey or cause to be Conveyed to Acquiror, the Acquired Assets, and Acquiror
desires to assume from Seller and its Subsidiaries, and Seller desires to assign or cause to be assigned to Acquiror, the Assumed
Liabilities, in each case, on the terms and subject to the conditions hereinafter set forth.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Accordingly, the Parties agree as follows:</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-transform: uppercase; text-align: center">I.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchase
and sale</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>1.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Sale
of Assets</U></I></B>. Except as provided in <U>Section 1.06</U>, effective as of the Closing, Seller will sell, assign, transfer,
convey and deliver (&ldquo;<U>Convey</U>&rdquo;) (or will cause any applicable Subsidiary of Seller to Convey) to Acquiror (or
one or more Affiliates of Acquiror), and Acquiror (or one or more Affiliates of Acquiror) will purchase from Seller, or a Subsidiary
of Seller, free and clear of any Security Interests other than Permitted Encumbrances, all of Seller&rsquo;s and its applicable
Subsidiaries&rsquo; respective right, title and interest in and to all Acquired Assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>1.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Assumption
of Liabilities</U></I></B>. Effective as of the Closing, Seller will assign (or will cause any applicable Subsidiary of Seller
to assign) to Acquiror (or one or more Affiliates of Acquiror), and Acquiror (or one or more Affiliates of Acquiror) will assume,
perform and fulfill when due and, to the extent applicable, comply with, or will cause any of its Affiliates to assume, perform
and fulfill when due and, to the extent applicable, comply with, all of the Assumed Liabilities, in accordance with their respective
terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>1.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Misallocated
Transfers</U></I></B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(a) If, at any time from and after the Closing,
either Party (or any member of the Seller Group or the Acquiror Group, as applicable) discovers that it or any of its Affiliates
is the owner of, receives or otherwise comes to possess any Asset (including the receipt of payments made pursuant to Contracts
and proceeds from accounts receivable) or is liable for any Liability that is attributable to any Person that is a member of the
other Group pursuant to this Agreement or any Ancillary Agreement (except in the case of any acquisition of Assets or assumption
of Liabilities from the other Group for value subsequent to the Closing), such Party will promptly Convey, or cause to be Conveyed,
such Asset or assign, or cause to be assigned, such Liability to the Person so entitled thereto or responsible therefor (and the
relevant Party will cause such entitled Person to accept such Asset or assume, perform and fulfill when due and, to the extent
applicable, comply with, such Liability). Prior to any such Conveyance or assignment, such Asset will be held, and related costs
with respect thereto will be addressed, in accordance with <U>Section &lrm;1.06</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b) If, at any time as of, from and after the
Closing, the contract of employment of any person of the Seller Group who is not a Transferred Employee is, as a result of the
transactions contemplated by this Agreement, alleged to have been or deemed transferred, or is alleged or found to have effect
after the Closing Date as if originally made with the Acquiror or any member of the Acquiror Group, (i) the Acquiror will, or will
cause its applicable Affiliate to, terminate the employment of such individual with the Acquiror Group within no less than six
months and (ii) the Seller shall hold harmless the relevant members of the Acquiror&rsquo;s Group from any loss caused to it as
a result thereof, including in connection with any benefits that would be payable in relation to the termination of such person
based on a termination by reason of redundancy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>1.04&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Acquired
Assets</U></I></B>. (a) For purposes of this Agreement, &ldquo;<U>Acquired Assets</U>&rdquo; means all Assets owned or held by
any member of the Seller Group that are included in any of clauses (i)-(xii) below or that are otherwise exclusively used or held
for exclusive use in the Rochas Business, in each case whether now existing or hereafter acquired prior to the Closing (other than
any such Assets that are Conveyed or otherwise disposed of after the date hereof and prior to the Closing not in violation of <U>Section
4.01</U>):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;molds,
tools (including special and general tools), prototypes, models, equipment, furniture, office equipment and other tangible personal
property (1) located at the Rochas Facilities except as set forth in <U>Section 1.04(b)(i)</U> of the Seller Disclosure Letter
or (2) exclusively used or held for exclusive use in the Rochas Business and (B)&nbsp;the items listed on <U>Section 1.04(a)(i)</U>
of the Seller Disclosure Letter;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all
Real Property Interests in the land and facilities listed on <U>Section 1.04(a)(ii)</U> of the Seller Disclosure Letter, together
with the improvements, structures and fixtures located thereon (the &ldquo;<U>Rochas Facilities</U>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all
Rochas Contracts, including all interests, rights, claims and benefits of Seller and any of its Subsidiaries pursuant thereto,
and associated therewith;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all
of the Governmental Approvals that are exclusively used or held for exclusive use in the Rochas Business (the &ldquo;<U>Rochas
Governmental Approvals</U>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all
Intellectual Property exclusively used in or exclusively relating to the Rochas Business and the Intellectual Property otherwise
listed on <U>Section 1.04(a)(v)</U> of the Seller Disclosure Letter, including all goodwill related to any of the foregoing and
all rights to sue or recover and retain damages and costs and attorneys&rsquo; fees for infringement, misappropriation or other
violation of any of the foregoing, whether occurring prior to, on or after the Closing Date (all of the foregoing, the &ldquo;<U>Rochas
IP Assets</U>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;all
business and employment records exclusively related to the Rochas Business, (B)&nbsp;all of the financial records exclusively relating
to the Rochas Business, the Acquired Assets and the Assumed Liabilities that do not form part of the general ledger of Seller or
any of its Affiliates, (C)&nbsp;to the extent not publicly available, and within Seller&rsquo;s possession all prosecution files,
histories, certificates, notices and registrations pertaining to the Intellectual Property listed on <U>Section 1.04(a)(v)</U>
of the Seller Disclosure Letter, and (D) all other books, records, ledgers, files, documents, correspondence, lists, plats, drawings,
photographs, product literature (including historical), advertising and promotional materials, customer lists, supplier lists,
customer financial data and information, sales, product and marketing reports, market and market share data, operating, production
and other manuals, manufacturing and quality control records and procedures, research and development files, data, data models,
reports, surveys, invoices, purchase orders, receipts, engineering drawings, notebooks and logbooks, in all cases whether in paper,
microfilm, microfiche, computer tape or disc, magnetic tape or any other form, and that in any such case are exclusively related
to the Rochas Business (collectively, the &ldquo;<U>Rochas Books and Records</U>&rdquo;); <U>provided</U>, <U>however</U>, that
(1)&nbsp;none of clauses (A) - (D) will include Intellectual Property in any such records, writings or other materials (which is
the subject of clause (v)&nbsp;above), (2)&nbsp;Seller will be entitled to retain a copy of the Rochas Books and Records, which
will be subject to the provisions of <U>Section 4.07</U>, (3)&nbsp;neither clause&nbsp;(A) nor (D) will be deemed to include any
books, records or other items or portions thereof (w)&nbsp;with respect to which it is not reasonably practicable to identify and
extract the portion thereof exclusively related to the Rochas Business from the portions thereof that relate to businesses of Seller
other than the Rochas Business, (x)&nbsp;that are subject to restrictions on transfer pursuant to applicable Laws regarding personally
identifiable information or Seller&rsquo;s privacy policies regarding personally identifiable information or with respect to which
transfer would require any Governmental Approval under applicable Law, (y)&nbsp;that relate to performance ratings or assessments
of employees of Seller or its Affiliates (including performance history, reports prepared in connection with bonus plan participation
and related data (other than individual bonus opportunities based on target bonus as a percentage of base salary)), unless such
records are required to be transferred to Acquiror under applicable Law, or (z)&nbsp;that relate to any employees who are not Transferred
Employees, and (4)&nbsp;in no event will Rochas Books and Records include any Tax records or Tax Returns;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
benefits of all prepaid expenses (other than allocated expenses), including prepaid leases and prepaid rentals, in each case to
the extent exclusively related to the Rochas Business, including any advertising (including television, print, radio and point
of sale) to the extent such advertising has been fully or partially created but not published, broadcasted or delivered prior to
the Closing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(viii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
marketing intangibles and/or brand equities of the Rochas Business (which will not be deemed to constitute Intellectual Property,
which is the subject of clause (v));</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(ix)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;subject
to <U>Section 1.04(a)(v)</U>, all rights to causes of action, lawsuits, judgments, claims and demands arising out of the conduct
of or otherwise exclusively related to the Rochas Business to the extent arising after the Closing Date;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(x)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
other Assets identified on <U>Section 1.04(a)(x)</U> of the Seller Disclosure Letter;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(xi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all
Assets in respect of the Rochas Business Acquired Plans, as determined in accordance with <U>Section 1.04(a)(xi)</U> of the Seller
Disclosure Letter (the &ldquo;<U>Rochas Business Acquired Plan Assets</U>&rdquo;), and all Assets expressly allocated to any member
of the Acquiror Group pursuant to <U>Article&nbsp;V</U>; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(xii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
right to enforce any entity in the Seller Group&rsquo;s rights in (A) the confidentiality provisions of any confidentiality, non-disclosure
or other similar Contracts that are not otherwise Rochas Contracts to the extent such provisions relate to confidential information
of the Rochas Business and (B)&nbsp;any Intellectual Property assignment provisions of any Intellectual Property assignment Contract
that is not otherwise a Rochas Contract to the extent such provisions relate to the Rochas IP Assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
<U>Section 1.04(a)</U> or any other provision hereof, the Acquired Assets will not in any event include any of the following Assets
(the &ldquo;<U>Excluded Assets</U>&rdquo;):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Assets listed or described on <U>Section 1.04(b)(i)</U> of the Seller Disclosure Letter;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Excluded IP Assets;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;all
Assets in respect of any and all Compensation and Benefit Plans, all Assets corresponding to any Liabilities allocated to Seller
or any of its Affiliates or for which Seller is expressly liable pursuant to <U>Article&nbsp;V</U> and all Assets in respect of
all other compensation and benefit plans sponsored by the Seller Group, in each case other than the Rochas Business Acquired Plan
Assets and (B)&nbsp;any Assets expressly allocated to any member of the Acquiror Group pursuant to <U>Article V</U>;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all
accounts receivable of Seller and its Affiliates;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all
cash and cash equivalents (including investments and securities);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
tangible property of Seller or its Subsidiaries other than the tangible property described in <U>Section 1.04(a)(i)</U> and <U>Section
1.04(a)(x)</U>;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
furniture, office equipment or personal use Assets of employees, other than Assets transferred pursuant to <U>Section 1.04(a)(i)</U>;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(viii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;except
as set forth in <U>Section 1.04(a)(ix)</U>, all rights to causes of action, lawsuits, judgments, claims, counterclaims or demands
of Seller or its Subsidiaries against a party other than Acquiror or its Affiliates to the extent such causes of action, lawsuits,
judgments, claims, counterclaims or demands (A)&nbsp;first arose prior to the Closing or (B)&nbsp;are not exclusively related to
the Rochas Business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(ix)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all
financial and Tax records relating to the Rochas Business that form part of the general ledger of Seller or any of its Subsidiaries,
any work papers of Seller or its Affiliates auditors concerning the Rochas Business and any other Tax records (including accounting
records) of Seller or any of its Subsidiaries;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(x)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;subject
to <U>Section 4.13</U>, all rights to insurance policies or practices of Seller and its Subsidiaries (including any captive insurance
policies, fronted insurance policies, surety bonds or corporate insurance policies or practices, or any form of self-insurance
whatsoever), any refunds paid or payable in connection with the cancellation or discontinuance of any such policies or practices
and any claims made under such policies;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(xi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all
records prepared by or on behalf of Seller or its Subsidiaries relating to the negotiation of the transactions contemplated by
this Agreement and all records prepared by or on behalf of Seller or its Subsidiaries in connection with the potential divestiture
of all or a part of the Rochas Business or any other business or Asset of Seller or its Subsidiaries, including (A)&nbsp;proposals
received from third parties and analyses relating to such transactions and (B) without limiting <U>Section 4.07</U>,&nbsp;communications
with legal counsel representing Seller or its Affiliates and the right to assert the attorney-client privilege with respect thereto;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(xii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all
rights of Seller or its Affiliates under this Agreement or any Ancillary Agreement and the certificates, instruments and Transfer
Documents delivered in connection therewith;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(xiii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all
software owned or used by or licensed to Seller and its Subsidiaries;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(xiv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
and all Assets of Seller or its Affiliates that are not exclusively used or held for exclusive use in the Rochas Business, except
for any Assets that are listed on <U>Section 1.04(a)</U> of the Seller Disclosure Letter as an Acquired Asset; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(xv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
and all Assets that are expressly contemplated by this Agreement as Assets to be retained by Seller or any other member of the
Seller Group.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>1.05&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Rochas
Liabilities</U></I></B>. (a) For the purposes of this Agreement, &ldquo;<U>Assumed Liabilities</U>&rdquo; will mean, subject to
<U>Section 1.05(b)</U>, all Liabilities of Seller and its Affiliates listed below solely to the extent relating to, resulting from
or arising out of the ownership or use of the Acquired Assets or the operation or the conduct of the Rochas Business; <U>provided</U>,
<U>however</U>, that, except as otherwise expressly set forth below, in no event will the Assumed Liabilities include any Liability
to the extent resulting from the ownership or use of the Acquired Assets or the operation or conduct of the Rochas Business prior
to the Closing. The Assumed Liabilities are limited to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all
Liabilities related to the Rochas Business Acquired Plans;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all
Liabilities for Taxes relating to, resulting from or arising out of the Acquired Assets or the Rochas Business with respect to
a Post-Closing Tax Period and all Transfer Taxes;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all
Liabilities listed on <U>Section 1.05(a)(iii)</U> of the Seller Disclosure Letter;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all
Liabilities that are provided by this Agreement or any Ancillary Agreement as Liabilities to be assumed by Acquiror or any other
member of the Acquiror Group and all Liabilities of Acquiror or any other member of the Acquiror Group under this Agreement or
any Ancillary Agreement, including all Liabilities allocated to or expressly assumed by any member of the Acquiror Group pursuant
to <U>Article&nbsp;V</U>;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all
Liabilities under the Rochas Contracts with respect to performance of the Rochas Contracts after the Closing, in each case other
than any Liability to the extent arising out of, relating to or otherwise in respect of any breach, default or violation of or
under any Rochas Contract that occurred prior to the Closing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all
Liabilities relating to, resulting from or arising out of advertising time and/or space (including television, print, radio and
point of sale) to the extent such advertising is exclusively related to the Rochas Business and is published, broadcasted or delivered,
or to be published, broadcasted or delivered after the Closing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all
Liabilities relating to, resulting from or arising out of trade and consumer promotions, in-store promotions, coupon campaigns,
loyalty programs and gift card campaigns with respect to the Rochas Business committed to by Seller or any of its Affiliates prior
to the Closing but occurring after the Closing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(viii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all
Liabilities relating to, resulting from or arising out of product returns, recalls of products of the Rochas Business or fulfilling
warranty claims and similar repair and replacement commitments in respect of products of the Rochas Business manufactured, sold
or distributed prior to the Closing; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(ix)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all
other Liabilities to the extent relating to, resulting from or arising out of the operation or conduct of the Rochas Business after
the Closing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
anything to the contrary in this Agreement, any schedule or exhibit hereto or any Ancillary Agreement, the Assumed Liabilities
will not include the Excluded Liabilities. The &ldquo;<U>Excluded Liabilities</U>&rdquo; means all of the Liabilities of the Seller
and its Affiliates other than the Assumed Liabilities, including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
Liabilities to the extent resulting from the ownership or use of the Acquired Assets or the operation or conduct of the Rochas
Business prior to the Closing, except in each case for the Liabilities expressly identified as Assumed Liabilities in <U>Section
1.05(a)</U>;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
Liabilities that result from any Breach of any Rochas Contract assumed by Acquiror that occurred prior to the Closing Date;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
Liabilities under any Contracts not assumed by Acquiror under <U>Section 1.04(a)</U>, including any Liabilities arising out of
or relating to Seller&rsquo;s credit facilities or any security interest related thereto;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all
Liabilities under Compensation and Benefit Plans or relating to payroll, vacation, sick leave, workers' compensation, unemployment
benefits, pension benefits, employee stock option or profit-sharing plans, health care plans or benefits or any other employee
plans or benefits of any kind for Seller's employees or former employees or both, other than those Liabilities assumed by the Acquiror
Group pursuant to <U>Section 1.05(a)(i)</U> or <U>1.05(a)(iv)</U>;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all
Liabilities to the extent arising out of or relating to or resulting from the ownership or use of any Excluded Asset, except to
the extent expressly identified as Assumed Liabilities in <U>Section 1.05(a)</U>;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
Liabilities of Seller or its Affiliates to any Affiliate of Seller or to Seller (in the case of Seller&rsquo;s Affiliates);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
Liabilities of Seller or its Affiliates under this Agreement or any Ancillary Agreement; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(viii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all
Liabilities for Taxes relating to, resulting from, or arising out of the Acquired Assets or the Rochas Business with respect to
a Pre-Closing Tax Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
any other provision hereof, in the event that there are facts, circumstances, actions, inactions, ownership or use of the Acquired
Assets, or operation or conduct of the Rochas Business, that constitute Assumed Liabilities as defined above, and that commence
or exist prior to the Closing and continue following the Closing that give rise to Liabilities, such Liabilities will constitute
Excluded Liabilities to the extent the Liabilities relate to the period prior to the Closing and will constitute Assumed Liabilities
only to the extent such additional Liabilities relate to the period from and after the Closing Date and will be apportioned between
Seller and Acquiror on that basis. To the extent that there are any material changes in the manner in which the Rochas Business
is operated or conducted after the Closing relative to the manner in which the Rochas Business is operated or conducted in the
Ordinary Course prior to the Closing, other than (i) as required by applicable Law, (ii) as otherwise expressly provided pursuant
to the Rochas Contracts, or (ii) in order to attempt to mitigate damages to the Rochas Business or the Acquiror or its Affiliates
attributable to any breach by Seller or any member of the Seller Group of this Agreement or any Ancillary Agreement, if such changes
result in any additional Liabilities, such additional Liabilities will be Assumed Liabilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
any other provision hereof, &ldquo;Excluded Liabilities&rdquo; will not include claims asserted by Acquiror in respect of the condition
of any Acquired Asset that is a tangible Asset (excluding real property), it being understood that the representations set forth
in <U>Section 2.06</U>, <U>Section 2.13(b)</U> or any other representation that could reasonably be interpreted to relate to the
condition of such Acquired Assets and Acquiror&rsquo;s right to indemnification for breaches of such representations under <U>Section
8.02(c)</U> (subject to the limitations set forth in <U>Section 8.07</U>) will be Acquiror&rsquo;s sole remedy in respect of such
claims.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>1.06&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Transfers
In Violation of Law or Required Consents</U></I></B>. If and to the extent that the valid, complete and perfected Conveyance to
Acquiror of any Acquired Asset or to the Seller Group of any Excluded Asset would be a violation of applicable Laws or require
any Consent in connection with the transactions contemplated hereby that has not been obtained as of the Closing, then, notwithstanding
any other provision hereof, such Conveyance will automatically be deferred and will not occur until all legal impediments are removed
or such Consents have been obtained. Notwithstanding the foregoing, any such Asset will still be considered an Acquired Asset or
Excluded Asset, as applicable, solely for the economic benefit, insofar as reasonably possible, of the Person entitled thereto
(and at such Person&rsquo;s sole expense) until the consummation of the Conveyance thereof but only to the extent permitted under
applicable Law. The Parties will use their respective Commercially Reasonable Efforts to (a) continue to seek to remove any legal
impediments and/or secure any contractual Consents required from third parties necessary to Convey such Asset and (b) develop and
implement arrangements to place the Person entitled to receive such Asset, insofar as reasonably possible, in the same position
as if such Asset had been Conveyed as contemplated hereby such that all the benefits and burdens relating to such Asset, including
possession, use, risk of loss, potential for gain, any Tax Liabilities in respect thereof and dominion, control and command over
such Asset, are to inure from and after the Closing to such Person. If and when the applicable legal or contractual impediments
are removed or the applicable Consents are obtained, the Conveyance of the applicable Asset will be effected in accordance with
the terms of this Agreement and/or such applicable Ancillary Agreement. The obligations set forth in this <U>Section 1.06</U> will
terminate on the one-year anniversary of the Closing. Nothing in this <U>Section 1.06</U> will be deemed to constitute or require
a waiver by any of the Parties of any of the closing conditions set forth in <U>Article VI</U>, including the receipt of the Governmental
Approvals. Except as otherwise expressly provided in this Agreement, all costs associated with the Conveyance of any Assets or
Employees will be borne by Seller (other than physical moves of assets with respect to Rochas Inventory or Acquired Assets at third
party facilities).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>1.07&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Waiver
of Bulk-Sales Laws</U></I></B>. Except for as otherwise prohibited by applicable Law, each of Seller and Acquiror hereby waives
compliance by each member of their respective Group with the requirements and provisions of the &ldquo;bulk-sale&rdquo; or &ldquo;bulk-transfer&rdquo;
Laws of any jurisdiction that may otherwise be applicable with respect to the Conveyance of any or all of the Assets to any member
of the Seller Group or Acquiror Group, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>1.08&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Closing</U></I></B>.
On the terms and subject to the conditions set forth in this Agreement, the consummation of the purchase and Conveyance of the
Acquired Assets and the assumption of the Assumed Liabilities (the &ldquo;<U>Closing</U>&rdquo;) will take place at Jones Day,
21 Tudor Street, London EC4Y 0DJ England, at 10:00&nbsp;a.m., local time, on the last Business Day of the calendar month in which
the satisfaction or waiver of the conditions set forth in <U>Article VI</U> occurs (other than those conditions that by their nature
or pursuant to the terms of this Agreement are to be satisfied at or immediately prior to the Closing, but subject to the satisfaction
or, where permitted, the waiver of those conditions). The date on which the Closing occurs is referred to as the &ldquo;<U>Closing
Date</U>.&rdquo; For accounting purposes, the Closing will be deemed to have occurred as of 11:59:59 pm local time on the Closing
Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>1.09&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Purchase
Price</U></I></B>. (a) The aggregate purchase price to be paid to Seller in full consideration of the Acquired Assets will be (i)
the payment in cash of (A)&nbsp;$107,950,000 (the &ldquo;<U>Base Amount</U>&rdquo;), <U>plus</U> (B)&nbsp;the payment in cash for
the Rochas Inventory, as determined pursuant to <U>Section 1.09</U> of the Seller Disclosure Letter, (such aggregate amount, the
&ldquo;<U>Cash Purchase Price</U>&rdquo;) and (ii) the assumption by Acquiror or one or more of its Affiliates of the Assumed Liabilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not
later than five Business Days prior to the anticipated Closing Date, Seller will provide to Acquiror its good faith estimate of
the value of the Rochas Inventory, as determined pursuant to <U>Section 1.09</U> of the Seller Disclosure Letter (the &ldquo;<U>Estimated
Inventory Amount</U>&rdquo; and such statement, the &ldquo;<U>Estimated Closing Statement</U>&rdquo;). The Estimated Closing Statement
will be prepared using the most current financial information reasonably available to Seller in the Ordinary Course of Seller&rsquo;s
operations that Seller determines is reliable and appropriate for the relevant calculations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At
the Closing and on the terms and subject to the conditions set forth in this Agreement, in consideration of the Conveyance of the
Acquired Assets, Acquiror and/or its designated Affiliates will assume the Assumed Liabilities and pay to Seller and/or its designated
Affiliates in cash an amount equal to the Estimated Inventory Amount plus the Base Amount by wire transfer of immediately available
funds to a bank account or accounts designated by Seller in writing not less than two days prior to the anticipated Closing Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>1.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Inventory
Adjustment</U></I></B>. (a) Within 90&nbsp;days following the Closing Date, Acquiror will prepare and deliver to Seller a statement
setting forth Acquiror&rsquo;s calculation of the value of the Rochas Inventory, as determined pursuant to <U>Section 1.09</U>
of the Seller Disclosure Letter (the &ldquo;<U>Closing Statement</U>&rdquo;). The Closing Statement will be prepared in a manner
and format consistent with the accounting policies, procedures and principles used to determine the Estimated Closing Statement
as set forth in <U>Section 1.09</U> of the Seller Disclosure Letter. Upon the request of Acquiror, Seller will provide to Acquiror
and its accountants access during normal business hours to the books and records, any other information, and any employees of Seller
or any other member of the Seller Group, that Seller determines is reasonably necessary for Acquiror to prepare the Closing Statement,
to respond to any Seller Objection and to prepare materials for presentation to the Accounting Firm contemplated by this <U>Section
1.10</U>, and Seller will otherwise cooperate with and assist Acquiror as Acquiror may reasonably request to carry out the purposes
of this <U>Section 1.10</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
a period of 30&nbsp;days after delivery of the Closing Statement, Acquiror will provide Seller with reasonable access to all books,
records, work papers, personnel and other materials and sources used by Acquiror to prepare the Closing Statement and not already
in the possession or under the control of Seller to the extent reasonably related to the determinations contemplated by this <U>Section
1.10</U>. The Closing Statement will be binding and conclusive upon, and deemed accepted by, Seller unless Seller notifies Acquiror
in writing within 30&nbsp;days after delivery of the Closing Statement of any good faith objection thereto (the &ldquo;<U>Seller
Objection</U>&rdquo;). Any Seller Objection will set forth a description in reasonable detail of the basis of the Seller Objection
and the specific adjustments to the values reflected in the Closing Statement prepared by Acquiror which Seller believes should
be made. Any items not disputed during the foregoing 30-day period will be deemed to have been accepted by Seller, without reservations,
and will be final and binding on the Parties. In the event a Seller Objection is sent to Acquiror, Acquiror and Seller shall attempt
to reach an Agreement on the specific adjustments raised by Seller.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
Seller and Acquiror are unable to resolve any of their disputes with respect to the Closing Statement within 30&nbsp;days following
Acquiror&rsquo;s receipt of the Seller Objection pursuant to <U>Section 1.10(b)</U>, the Parties agree to submit the dispute to
administered expert proceedings in accordance with the Rules for the Administration of Expert Proceedings of the International
Chamber of Commerce (&ldquo;<U>ICC Expert Rules</U>&rdquo;). The Parties agree that the findings of the expert shall be contractually
binding upon them. In this respect, either party may refer the remaining disputed items to an<B> </B>independent accounting firm
mutually selected by Seller and Acquiror (the &ldquo;<U>Accounting Firm</U>&rdquo;) who will act as an expert pursuant to the ICC
Expert Rules or in the event that the Parties are unable to agree on an independent accounting firm within 14 days following a
notice by one of the Parties proposing an Accounting Firm, the Accounting Firm shall be selected pursuant to the ICC Expert Rules.
The Accounting Firm shall make a written determination as to each then-remaining disputed item, which written determination will
be final, binding and not appealable by the Parties as to each such disputed item. The Accounting Firm will act as an expert and
not an arbitrator and will address only those items that are in dispute. If the Accounting Firm does not accept its appointment
or cannot or will not carry out its duties for any reason or is materially conflicted, the Parties shall promptly meet to agree
on a replacement. With respect to any item or the Closing Statement for which a determination is to be made by the Accounting Firm,
the Accounting Firm shall remain within the range of values assigned to each items in the Closing Statement and the Seller Objection
respectively. The Accounting Firm will not have any contacts with any Party without providing the other with a reasonable opportunity
to participate, and shall provide each Party with any written documents provided to it by the other. The Accounting Firm will make
its determinations pursuant to this Agreement and the most current financial information reasonably available in the Ordinary Course
of Rochas Business based on the materials submitted to it by the Parties subject to the terms of this Agreement. Each Party agrees
to execute, if requested by the Accounting Firm, a reasonable engagement letter, including customary indemnification protections
for the Accounting Firm. The Accounting Firm will comply with any arbitral decision rendered pursuant to <U>Section 10.04</U> with
respect to the interpretation or application of the present Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Parties will use their reasonable best efforts to cause the Accounting Firm to (i) to send to the Parties a draft report setting
out its preliminary conclusions within 20 Business Days from the appointment of the Accounting Firm, and to offer the Parties a
reasonable opportunity to comment thereon and (ii) issue a report setting forth its final calculation of the inventory adjustment
within 45 Business Days from the date of the appointment of the Accounting Firm. The costs of any dispute resolution pursuant to
<U>Section 1.10(e) and Section 1.10(d)</U>, including the fees and expenses of the Accounting Firm, will be borne by Seller and
Acquiror in the proportion determined by Accounting Firm, which will base its decision upon the relative extent to which Seller&rsquo;s
and Acquiror&rsquo;s relative positions regarding the inventory adjustment are upheld in the final report of the Accounting Firm.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Closing Statement will become final, binding and not appealable by the Parties except in the event of a mathematical error upon
the earliest of (i)&nbsp;if no Seller Objection has been given, the expiration of the period within which Seller must make its
objection pursuant to <U>Section 1.10(b)</U>, (ii)&nbsp;the agreement in writing by Seller and Acquiror that the Closing Statement,
together with any modifications thereto agreed by Seller and Acquiror, is final, binding and not appealable by the Parties, and
(iii)&nbsp;the date on which the Accounting Firm issues its written determination with respect to any dispute relating to such
Closing Statement pursuant to <U>Section 1.10(b)</U>. The Closing Statement, as submitted by Acquiror if no timely Seller Objection
has been given, as adjusted pursuant to any agreement between the Parties or as finally determined pursuant to the decision of
the Accounting Firm, when final, binding and not appealable by the Parties and upon which a judgment may be entered by a court
of competent jurisdiction, is herein referred to as the &ldquo;<U>Final Closing Statement</U>.&rdquo; The value of the Rochas Inventory
as set forth in the Final Closing Statement is the &ldquo;<U>Final Inventory Amount</U>.&rdquo; Notwithstanding anything to the
contrary herein, including by determination of the Accounting Firm, in no event will the Final Inventory Amount be more than 6%
greater than, nor more than 6% less than, the Estimated Inventory Amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Closing Rochas Inventory Payment payable pursuant to this <U>Section 1.10(f)</U> will be paid by wire transfer of immediately available
funds to a bank account or accounts designated by Seller or Acquiror, as applicable. The &ldquo;<U>Closing Rochas Inventory Payment</U>&rdquo;
will be equal to the Final Inventory Amount <U>minus</U> the Estimated Inventory Amount. If the Closing Rochas Inventory Payment
is positive, then Acquiror will pay, on a Dollar for Dollar basis, to Seller the Closing Rochas Inventory Payment. If the Closing
Rochas Inventory Payment is negative, then Seller will pay, on a Dollar for Dollar basis, to Acquiror the absolute value of the
Closing Rochas Inventory Payment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any amounts owed under <U>Section 1.10(f)</U>
by Seller or Acquiror (as applicable) will be paid, together with interest on such amount, from the Closing Date to the date of
such payment, calculated on the basis of the EURIBOR 1-month lending rate on the Closing Date plus 2.0%, no later than 5 Business
Days as from the date of the Accounting Firm&rsquo;s final report in immediately available funds to the bank accounts designated
by Acquiror or Seller (as applicable), and such payments will be made to Acquiror or to Seller (as applicable) without any setoff,
deduction or counterclaim.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>1.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Closing
Deliveries</U></I></B>. (a) <U>Documents To Be Delivered by Seller</U>. On the Closing Date, Seller will deliver, or will cause
its appropriate Subsidiaries to deliver, to Acquiror all of the following instruments (each duly executed by Seller or those of
its Subsidiaries that are parties, as applicable):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Ancillary Agreements to which Seller or any of its Subsidiaries is a party;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
formula cards with respect to Seller Fragrances and Hybrid Fragrances;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Transfer Documents as described in <U>Section 1.12</U>; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
certificate contemplated by <U>Section 6.02(c)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Documents
To Be Delivered by Acquiror</U>. On the Closing Date, Acquiror will deliver, or will cause its Subsidiaries to deliver, as appropriate,
to Seller all of the following instruments (each duly executed by Acquiror or those of its Subsidiaries that are parties, as applicable):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Ancillary Agreements to which Acquiror or any of its Subsidiaries is a party;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Transfer Documents as described in <U>Section 1.12</U>; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
certificate contemplated by <U>Section 6.03(c)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>1.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Conveyance
of Acquired Assets and Assumption of Assumed Liabilities</U></I></B>. In furtherance of the Conveyance of Acquired Assets and assumption
of Assumed Liabilities provided in <U>Sections 1.01</U> and <U>1.02</U>, on the Closing Date, (a)&nbsp;Seller will execute and
deliver, and will cause its Subsidiaries to execute and deliver, such bills of sale, certificates of title, deeds, assignments
of Contracts and other instruments of Conveyance, (in each case to the extent applicable and in a form that is consistent with
the terms and conditions of this Agreement, and otherwise customary or statutorily required in the jurisdiction in which the relevant
Assets are located), as necessary and in form reasonably acceptable to Acquiror, to evidence the Conveyance of all of Seller&rsquo;s
and its Subsidiaries&rsquo; right, title and interest in and to the Acquired Assets to Acquiror and its Affiliates (it being understood
that no such bill of sale, certificate of title, deed, assignment or other instrument of Conveyance will require Seller or any
of its Affiliates to make any additional representations, warranties or covenants, expressed or implied, not contained in this
Agreement except to the extent required to comply with applicable local Law, in which case the Parties will enter into such supplemental
agreements or arrangements as are effective to preserve the allocation of economic benefits and burdens contemplated by this Agreement)
and (b)&nbsp;Acquiror will execute and deliver such assumptions of Assumed Liabilities and other instruments of assumption (in
each case in a form that is consistent with the terms and conditions of this Agreement, and otherwise customary or statutorily
required in the jurisdiction in which the relevant Liabilities are located) as and to the extent reasonably necessary to evidence
the valid and effective assumption of the Assumed Liabilities by Acquiror. All of the foregoing documents contemplated by this
<U>Section 1.12</U> will be referred to collectively herein as the &ldquo;<U>Transfer Documents</U>.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>1.13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Escrow</U></I></B>.
Each of Seller and Acquiror hereby expressly acknowledges that their respective legal advisors duly informed the Parties of the
legal right for Seller or certain of its Affiliates&rsquo; creditors to object to the payment of the Purchase Price in respect
of the transfer of the part of the Acquired Assets and the Rochas Business which constitute a &ldquo;<I>fonds de commerce</I>&rdquo;
as defined pursuant to French law, in accordance with the terms of Article L.141-14 of the French Commercial Code and to make a
claim against Purchaser to obtain the payment of their receivables up to the amount of the relevant portion of the Purchase Price.
The Parties have agreed to proceed with the payment of the Purchase Price in accordance with <U>Section 1.09</U> (Purchase Price)
and discharge their legal advisors of any and all liability in connection with such payment. Acquiror shall promptly notify Seller
of any potential creditor&rsquo;s objection (<I>opposition d&rsquo;un cr&eacute;ancier</I>) and Seller hereby undertakes to be
responsible for any such potential creditor&rsquo;s objection and indemnify, defend and hold Acquiror harmless from any Losses,
resulting from any objection of a Seller&rsquo;s creditor made pursuant to Article L.141-14 of the French Commercial Code, in accordance
with <U>Section 1.05(a)</U> (<I>Rochas Liabilities</I>) <U>1.05(b)</U> (<I>Excluded Liabilities</I>) and <U>Article VIII</U> (<I>Indemnification</I>).</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center; text-indent: 0in">II.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;REPRESENTATIONS
AND WARRANTIES OF Seller</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Seller and Obligees hereby represent and warrant
to Acquiror as of the date hereof that, except as set forth in the applicable Section or subsection of the Seller Disclosure Letter
(interpreted as contemplated by <U>Section 10.13</U>):<FONT STYLE="font-size: 10pt"> </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>2.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Due
Organization, Good Standing and Corporate Power</U></I></B>. <FONT STYLE="font-family: Times New Roman, Times, Serif">Seller and
Obligees are corporations duly organized, validly existing and in good standing under the Laws of its jurisdiction of incorporation.
Seller and its Subsidiaries have the requisite corporate power and authority to own, lease and operate their properties that will
be Conveyed to Acquiror, to carry on the Rochas Business as now being conducted and to enter into and perform its obligations under
this Agreement and/or the Ancillary Agreements to which it is, or will be at Closing, a party and to consummate the transactions
contemplated hereby and thereby. Seller and each of its Subsidiaries is duly qualified to do business and is in good standing in
each jurisdiction in which the property owned, leased or operated by the Rochas Business that will be Conveyed to Acquiror or the
nature of the Rochas Business conducted by it makes such qualification or licensing necessary, except in such jurisdictions where
the failure to be so qualified or licensed and in good standing has not had and </FONT>would not reasonably be expected to have,
individually or in the aggregate, a Rochas Business MAE<FONT STYLE="font-family: Times New Roman, Times, Serif">. </FONT>Neither
the Seller nor any of its Subsidiaries has taken any step with a view to a suspension of payments or a moratorium of any indebtedness
nor have any of them made any voluntary arrangement with any of their creditors, in each case as with respect to the Rochas Business.
As of the date hereof and as of the Closing Date, neither the Seller nor any of its Subsidiaries Conveying any Acquired Assets
or Assumed Liabilities is insolvent or unable to pay its debts as they fall due.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>2.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Authorization
of Agreement</U></I></B>. The execution, delivery and performance of this Agreement and the Ancillary Agreements by Seller and,
if applicable, its Subsidiaries, and the consummation by it and, as of the Closing, its Subsidiaries of the transactions contemplated
hereby and thereby, have been or will be duly authorized and approved by all necessary corporate action and no other corporate
or shareholder action on the part of Seller or its Subsidiaries is necessary to authorize the execution, delivery and performance
of this Agreement and the Ancillary Agreements to which it is, or will be at Closing, a party, or the consummation of the transactions
contemplated hereby and thereby. This Agreement and the Ancillary Agreements, when executed, will be duly executed and delivered
by Seller, and its Subsidiaries (to the extent it is a party thereto), and each is (or when executed will be) a valid and binding
obligation of Seller and its applicable Subsidiaries and enforceable against Seller and such applicable Subsidiary in accordance
with its terms, except to the extent that its enforceability may be subject to applicable bankruptcy, insolvency, reorganization,
moratorium and similar Law affecting the enforcement of creditors&rsquo; rights generally and by general equitable principles (such
exception, the &ldquo;<U>Enforceability Exception</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>2.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Consents
and Approvals; No Violations</U></I></B>. (a) Assuming&nbsp;the Governmental Approvals set forth on <U>Section 2.03</U> of the
Seller Disclosure Letter have been obtained, the execution and delivery of this Agreement and the Ancillary Agreements by Seller
and, if applicable, its Subsidiaries, and the consummation by Seller and, if applicable, its Subsidiaries of the transactions contemplated
hereby and thereby do not and will not (i)&nbsp;violate or conflict with any provision of their respective certificates or articles
of incorporation, bylaws or code of regulations (or the comparable governing documents), (ii)&nbsp;violate or conflict with any
Law or Order of any Governmental Authority applicable to Seller or any of its Subsidiaries or by which any of their respective
properties or assets that will be Conveyed to Acquiror, (iii)&nbsp;require any Governmental Approval, or (iv)&nbsp;result in a
violation or breach of, conflict with, constitute (with or without due notice or lapse of time or both) a default under or give
rise to any right of termination, cancellation or acceleration, or result in the creation of any Security Interest upon any of
the material properties or assets of Seller or its Subsidiaries that will be Conveyed to Acquiror, or give rise to any obligation,
right of termination, cancellation, acceleration or increase of any obligation or a loss of a material benefit under, any of the
terms, conditions or provisions of any Rochas Material Contract, excluding in the case of clauses&nbsp;(ii) through (iv) above,
conflicts, violations, breaches, defaults, rights of terminations, cancellations, accelerations, creations and impositions of Security
Interests, increases or losses which would not reasonably be expected, individually or in the aggregate, to be material to the
Rochas Business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other
than as identified in <U>Section 2.03</U> of the Seller Disclosure Letter, there are no Consents necessary for Seller to Convey
to Acquiror (i) the Assumed Assets and the Assumed Liabilities in order for Section 2.13(a) to be true and correct immediately
after Closing with respect to Acquiror and (ii) the Rochas Material Contracts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>2.04&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Intellectual
Property</U></I></B>. (a) Seller or a Subsidiary of Seller is, and assuming that all required Consents have been duly obtained,
after Closing Acquiror will be, the sole owner of the Rochas IP Assets, free and clear of any Security Interests other than Permitted
Encumbrances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Section
1.04(a)(v)</U> of the Seller Disclosure Letter sets forth a list of the material Rochas IP Assets that constitute Registered Intellectual
Property, including for each such item listed, as applicable, its (i) territory, (ii)&nbsp;application serial number and date,
(iii) issue number and date, and (iv) title or mark. All registration, maintenance and renewal fees, issue fees and annuities due
in respect of such Rochas IP Assets as of the date hereof have been paid. None of such Rochas IP Assets is licensed to any third
party or is subject to any material restrictions on its disclosure, ownership, license or transfer, except pursuant to a Rochas
Material Contract listed in <U>Section 2.07(a)(iv)</U> of the Seller Disclosure Letter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as would not, individually or in the aggregate, be material to the Rochas Business, to the Knowledge of Seller, the Rochas Business
as currently conducted by Seller and its Subsidiaries does not infringe, misappropriate or otherwise violate any enforceable Intellectual
Property right of any third party. Except as would not, individually or in the aggregate, be material to the Rochas Business, during
the past two years, no third party has made any written claim or demand or instituted any litigation against Seller or any of its
Subsidiaries, or to the Knowledge of Seller threatened the same in writing, and neither Seller nor any of its Subsidiaries has
received any written notice of such a claim, demand or litigation, that (i)&nbsp;challenges the rights of Seller and its Subsidiaries
in respect of any of the Intellectual Property utilized in the Rochas Business or (ii)&nbsp;asserts that the operation of the Rochas
Business is or was infringing, misappropriating or otherwise violating the Intellectual Property rights of any third party. None
of the Intellectual Property utilized in the Rochas Business is subject to any outstanding Order applicable to the Rochas Business
that materially limits the use of such Intellectual Property in the Rochas Business as currently conducted by Seller and its Subsidiaries.
To the Knowledge of Seller, no Person is engaging in any activity that materially infringes, misappropriates or otherwise violates
any of the Rochas IP Assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
whether any other representations or warranties in this <U>Article II</U> could be read to apply to matters involving Intellectual
Property, the representations and warranties set forth in this <U>Section 2.04</U>, <U>Section 2.07(a)(iv)</U> (and <U>Sections
2.07(b) and 2.07(c)</U> as applicable thereto) and <U>Section 2.13(a)</U> (and <U>Section &lrm;2.13(c)</U> as applicable thereto)
constitute the sole and exclusive representations and warranties under this <U>Article II</U> with respect to Intellectual Property.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There
are no royalties, fees or other payments payable to any employees of Seller or any of its Subsidiaries as a result of ownership
or use of any Rochas IP Assets in connection with the Rochas Business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
the Knowledge of the Seller, there is no unauthorized use or disclosure, infringement, misappropriation or violation of any Rochas
IP Assets by any third party, including any employee or former employee of Seller or any of its Subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
the Knowledge of Seller, except as set forth on <U>Section 2.04(g)</U> of the Seller Disclosure Letter, the Trademarks that are
included as Acquired Assets are not substantially similar to Trademarks that are Excluded IP Assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>2.05&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Litigation</U></I></B>.
As of the date of this Agreement, there are no Actions in respect of which Seller or any of its Subsidiaries has been served with
a complaint or otherwise given written notice (or to the Knowledge of Seller, oral notice) that are pending against Seller or any
of its Subsidiaries, or, to the Knowledge of Seller, threatened against Seller or any of its Subsidiaries (or any of their respective
properties, rights or franchises), at Law or in equity, or before or by any Governmental Authority, that have been or would reasonably
be expected to be, individually or in the aggregate, material to the Rochas Business. Neither Seller nor any of its Subsidiaries
is subject to any Order applicable to the Rochas Business, other than any Order generally applicable to the businesses in which
the Rochas Business operates, that would reasonably be expected to affect, in any material respect, individually or in the aggregate,
the Rochas Business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>2.06&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Compliance
With Laws</U></I></B>. (a) Except as has not been and would not reasonably be expected to be material to the Rochas Business, the
Rochas Business is being conducted in compliance with applicable Laws. None of the Governmental Approvals required for the continued
conduct of the Rochas Business as such business is currently being conducted will lapse, terminate, expire or otherwise be impaired
as a result of the consummation of the transactions contemplated hereby or by the Ancillary Agreements, except as has not been
and would not reasonably be expected to be material to the Rochas Business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
the foregoing, the representations and warranties set forth in this <U>Section 2.06</U> do not apply to Intellectual Property,
employees and employee benefits or Taxes, which are addressed in their entirety and exclusively in <U>Sections 2.04</U>, <U>2.08</U>
and <U>2.10</U>, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>2.07&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Contracts</U></I></B>.
(a) <U>Section 2.07(a)</U> of the Seller Disclosure Letter contains a list of each Rochas Contract that is in effect as of the
date of this Agreement and that falls in one or more of the following categories (collectively, whether or not scheduled, the &ldquo;<U>Rochas
Material Contracts</U>&rdquo;):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
Contract (x) containing covenants binding upon Seller or its Subsidiaries that restrict during any period of time the ability of
Seller or any of its Subsidiaries to compete or engage in any business or geographic area or in any way purport to restrict Seller
or its Subsidiaries&rsquo; business activity or limit the freedom of Seller or any of its Subsidiaries to engage in any line of
business and (y) that would bind Acquiror or any of its Affiliates following the Closing by virtue of the transactions contemplated
by this Agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
Contract containing any &ldquo;most favored nations,&rdquo; exclusivity or similar right or undertaking in favor of any party other
than Seller and its Subsidiaries with respect to any material goods or services purchased or sold by Seller or its Subsidiaries
and that would bind Acquiror or any of its Affiliates following the Closing by virtue of the transactions contemplated by this
Agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
lease, sublease or similar Contract with any Person under which Seller or any of its Subsidiaries is a lessor or sublessor of,
or makes available for use to any Person, any Rochas Facilities;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
license or sublicense Contract under which Seller or any of its Subsidiaries is licensee or licensor, or sub-licensee or sub-licensor
of any material Intellectual Property used in the Rochas Business other than licenses to any shrink wrap, click wrap or other software
that is generally commercially available and not customized;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
Contract for the sale of any material Acquired Asset or collection of Acquired Assets that are material to the Rochas Business
in the aggregate, other than Contracts entered into in the Ordinary Course of the Rochas Business that provide for the sale of
Rochas Inventory (including any finished goods or work-in-process) or obsolete equipment;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
Contract involving the payment of more than $2,500,000 relating exclusively to the Rochas Business for the purchase of materials,
supplies, goods, services, equipment or other assets and that is (A)&nbsp;with any vendor from whom Seller or any of its Subsidiaries
purchased more than $2,500,000, in the aggregate in respect of the Rochas Business, in the fiscal year ended June&nbsp;30, 2014,
or would reasonably be expected to provide for the purchase of more than $2,500,000 in the aggregate in respect of the Rochas Business,
in the fiscal year ended June&nbsp;30, 2015 or any future 12-month period ended June 30 and (B)&nbsp;not terminable at will by
Seller or any of its Subsidiaries (or the Acquiror following the Closing) on less than 60&nbsp;days&rsquo; notice without penalty;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
Contract with a customer of the Rochas Business that involves, or would reasonably be expected to involve, (A) the payment of more
than $2,500,000 by such customer to the Rochas Business in the fiscal year ended June&nbsp;30, 2014 or any future 12-month period
ended June 30 (other than purchase orders submitted in the Ordinary Course of the Rochas Business) or (B)&nbsp;the payment of more
than $2,500,000 to such customer by the Rochas Business in the fiscal year ended June&nbsp;30, 2015 or any future 12-month period
ended June 30 pursuant to a &ldquo;joint business plan&rdquo; or other similar incentive arrangement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(viii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
Contract relating to any Indebtedness to a third party that individually is in excess of $2,500,000;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(ix)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
Contract under which (A)&nbsp;any Person has directly or indirectly guaranteed or assumed Indebtedness, liabilities or obligations
of the Rochas Business or (B) the Rochas Business has directly or indirectly guaranteed or assumed Indebtedness, Liabilities or
obligations of another Person, in each case in excess of $2,500,000;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(x)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
material settlement or compromise of any suit, claim, proceeding or dispute relating to the Rochas Business that would materially
and adversely impact the Rochas Business at or following the Closing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(xi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
Contract (however denominated) establishing or providing for any material partnership, strategic alliance, joint venture or material
collaboration or involving a sharing of profits, losses, costs or liabilities by Seller with any other Person;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(xii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
Contract involving performance of services or delivery of goods or materials of an amount or value in excess of $2,500,000 and
requiring one or more Consents (other than by the Seller or Seller Group) in order to be Conveyed to the Acquiror;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(xiii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;each
power of attorney of Seller that is currently effective and outstanding and that would bind Acquiror or any of its Affiliates following
the Closing by virtue of the transactions contemplated by this Agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(xiv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;each
Contract calling for capital expenditures in excess of $2,500,000 that would bind Acquiror or any of its Affiliates following the
Closing by virtue of the transactions contemplated by this Agreement; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(xv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
other Contract not made in the Ordinary Course of the Rochas Business that is material to the Rochas Business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Rochas Material Contract is valid, binding and in full force and effect and is enforceable by and against Seller or one of its
Subsidiaries in accordance with its terms, except as has not been and would not reasonably be expected to be material to the Rochas
Business. Each of Seller and its Subsidiaries has performed all obligations required to be performed by it to date under the Rochas
Material Contracts to which it is a party and is not in breach of or default thereunder and, to the Knowledge of Seller, no other
party to any Rochas Material Contract is in breach of or default thereunder in any respect that would reasonably be expected to
be, individually or in the aggregate, material to the Rochas Business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither
the Seller nor any of its Subsidiaries has received any written notice (including email) that the counterparty to any Rochas Material
Contract is seeking to renegotiate any material term of such contract, including material amounts paid or payable thereunder, nor
has Seller nor any of its Subsidiaries given written notice (including email) to the counterparty to any Rochas Material Contract
seeking to renegotiate any material term of such contract, including material amounts paid or payable thereunder, nor is any renegotiation
of any material term of a Rochas Material Contract, including material amounts paid or payable thereunder, underway.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(d)Seller has made available to Acquiror a true,
complete and correct copy of each Rochas Material Contract (or, if such Contract is not in written form, a true and correct summary
of the material terms thereof), including any material amendment, supplement and modification (whether oral or written) in respect
thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>2.08&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Employees
and Employee Benefits</U></I></B>. (a) <U>Section 5.01</U> of the Seller Disclosure Letter indicates, as of the relevant date of
presentation, (i) a list of each Transferred Employee and (ii) each such employee&rsquo;s function, base and variable salary or
hourly wage rate, most recent annual equity compensation award, cash bonus target, cash, annual, long-term, equity or similar incentive
program in which he or she participates, employer, home country, host country, employment site, age, credited service date, employment
status.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;From
June&nbsp;30, 2012 through the date of this Agreement, (i)&nbsp;there has not been any labor strike, work stoppage or lockout with
respect to the Rochas Business, (ii)&nbsp;no member of the Seller Group has received written notice of any unfair labor practice
charges against the Rochas Business that are pending before any state, local or foreign Governmental Authority, and (iii)&nbsp;no
member of the Seller Group has received written notice of any suits, actions or other proceedings in connection with the Rochas
Business that are pending before any state, local or foreign Governmental Authority responsible for the enforcement of employment
practices Laws, except, in the case of each of clauses&nbsp;(i), (ii) and (iii) above, for any such matters that have not had and
would not reasonably be expected to have, individually or in the aggregate, material to the Rochas Business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Section
2.08</U> of the Seller Disclosure Letter identifies each collective bargaining agreement or other material Contract with any labor
organization, union or works council that applies to any Transferred Employees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With
respect to each Rochas Business Acquired Plan, (i)&nbsp;all contributions due from Seller or any of its Subsidiaries through the
date of this Agreement have been made and all amounts and Liabilities have been properly accrued to date and (ii)&nbsp;there are
no actions, suits or claims pending (other than routine claims for benefits) or, to the Knowledge of Seller, threatened with respect
to such Rochas Business Acquired Plan, except, in the case of each of clauses&nbsp;(i)-(ii) above, as would not result in a material
Liability to the Rochas Business after the Closing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Seller
has made available to Acquiror copies or summaries of the material terms of all of the Compensation and Benefit Plans (including
any material amendments thereto).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Compensation and Benefit Plan has been maintained, operated and administered in all material respects in accordance with its terms
and in compliance in all material respects with all applicable Laws except, in each case, as would not result in material Liability
to the Rochas Business after the Closing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
anything herein to the contrary, the representations and warranties set forth in this <U>Section 2.08</U> are the sole and exclusive
representations and warranties applicable to Compensation and Benefit Plans and to employees or other service providers of Seller
or its Affiliates (and, in all instances, any Liabilities relating thereto).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>2.09&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Absence
of Changes</U></I></B>. (a) Since December 31, 2014, there has not occurred any event, occurrence or condition which has had or
would reasonably be expected to have, individually or in the aggregate, a Rochas Business MAE.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
for such matters as would not be reasonably expected to have a Rochas Business MAE, since December 31, 2014, the Rochas Business
has been conducted in the Ordinary Course of the Rochas Business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>2.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Taxes</U></I></B>.
(a) Except as would not reasonably be expected to affect, in any material respect, individually or in the aggregate, the Rochas
Business, (i)&nbsp;there are no liens for Taxes on any of the Acquired Assets other than Permitted Encumbrances, (ii)&nbsp;all
Tax Returns required to be filed by or with respect to the Acquired Assets or the Rochas Business have been duly and timely filed,
and all such Tax Returns are true and correct in all material respects, (iii)&nbsp;all Taxes required to be paid by or with respect
to the Acquired Assets or the Rochas Business have been timely paid in full, (iv)&nbsp;Seller and its Subsidiaries have complied
with all applicable Laws regarding the collection, withholding and remittance to the appropriate Taxing Authority of amounts required
to be collected or withheld by any of them with respect to the Acquired Assets and the Rochas Business, and (v)&nbsp;there is no
action, suit, proceeding, investigation, audit or claim with respect to Taxes (&ldquo;<U>Tax Proceeding</U>&rdquo;) pending or
asserted in writing with respect to any of the Acquired Assets or the Rochas Business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
any other representation or warranty contained in this <U>Article II</U>, the representations and warranties contained in this
<U>Section 2.10</U> constitute the sole and exclusive representations and warranties of Seller relating to Taxes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>2.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Broker&rsquo;s
or Finder&rsquo;s Fee</U></I></B>. Neither Seller nor any of its Subsidiaries has any liability or obligation to pay any fees or
commissions to any broker, finder or other agent with respect to the transactions contemplated by this Agreement for which Acquiror
or any of its Affiliates could become liable or obligated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>2.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Title
to Properties; Security Interests</U></I></B>. Seller and its Subsidiaries have, and assuming that the required Consents are duly
obtained, Acquiror will, immediately after Closing, have, good and valid title to, or, if applicable, valid leasehold interests
in or valid license or right to use, all Acquired Assets, in each case as such property is currently being used, subject to no
Security Interests, except for Permitted Encumbrances. On March 18, 2003, Seller announced it signed an agreement to purchase a
controlling interest in Wella AG, a global beauty company, based in Darmstadt, Germany. One of the businesses operated by Wella
was the Rochas Business. The cash purchase of &euro;3.2 billion gave P&amp;G 77.6% of Wella&rsquo;s voting shares. On April 28,
2003, Procter &amp; Gamble Germany Management GmbH (P&amp;G), a wholly owned subsidiary of Seller announced the launch of its tender
offer for the remaining voting and preference shares of Wella. Seller offered a cash price of &euro;92.25 per share for the voting
shares, and &euro;65 per share for the preference shares, valuing the total shares at about &euro;5.5 billion. Seller completed
the acquisition in September of 2003.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>2.13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Sufficiency;
Condition of Assets</U></I></B>. (a) The Acquired Assets, together with (i)&nbsp;the Assets for which provision for access thereto
is otherwise made in this Agreement or in the Ancillary Agreements, including in <U>Section 1.06</U>, (ii)&nbsp;the Excluded Assets,
and (iii)&nbsp;the Assets that are identified in <U>Section 2.13</U> of the Seller Disclosure Letter (including those Assets that
are used to provide the services that are identified in <U>Section 2.13</U> of the Seller Disclosure Letter), are sufficient to
conduct the Rochas Business in substantially the same manner as which the Rochas Business is being conducted on the date hereof
by Seller and its Subsidiaries in all material respects.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
tangible Acquired Assets are in good condition in all material respects, reasonable wear and tear excepted, except as would not
materially adversely affect the continued production of the products of the Rochas Business in the quality and quantity as such
products are being manufactured and sold by the Rochas Business as of the date of this Agreement in all material respects.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
anything to the contrary, the representations and warranties set forth in this <U>Section 2.13</U> will not be deemed to be a representation
or warranty that any of such activities can or will be conducted without infringement, other violation or use of the Intellectual
Property of any third party, and the Parties hereby acknowledge that, to the extent any such representation or warranty is made,
it is exclusively in <U>Section 2.04</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>2.14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Real
Property</U></I></B>. (a) <U>Section 2.14(a)</U> of the Seller Disclosure Letter sets forth a list of (i)&nbsp;any real property
leases, subleases, licenses or occupancy agreements to which the Seller or any of its Subsidiaries is a party, whether as a lessor
or a lessee that is exclusively used in the Rochas Business, (the &ldquo;<U>Real Property Leases</U>,&rdquo; and such real property,
the &ldquo;<U>Leased Real Property</U>&rdquo;), and (ii)&nbsp;any other real property that is owned in fee or leased, subleased,
licensed or otherwise used by Seller or any of its Subsidiaries and utilized by Seller or any of its Subsidiaries to manufacture,
distribute or sell the products of the Rochas Business that is material to, but is not exclusively used in, the Rochas Business
(&ldquo;<U>Shared Operational Real Property</U>&rdquo;). For the avoidance of doubt, &ldquo;Shared Operational Real Property&rdquo;
will be deemed to include any real property utilized by Seller&rsquo;s &ldquo;Global Business Services&rdquo; unit and other corporate
supporting functions to provide support to the Rochas Business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
real property or real property interest that is exclusively used in connection with the Rochas Business is owned by Seller or any
of its Subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
the Knowledge of Seller, no parcel of Leased Real Property is subject to any Order to be sold or being condemned, expropriated
or otherwise taken by any public authority with or without payment of compensation therefor, nor, to the Knowledge of Seller, has
any condemnation, expropriation, or taking been proposed, except as would not be material to the Rochas Business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>2.15&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Access
to Fragrances</U></I></B>. (a) <U>Section 4.12(a)</U> of the Seller Disclosure Letter sets forth (i) a complete and accurate list
of the externally developed fragrances that are currently used in the products of the Rochas Business (the &ldquo;<U>Third-Party
Fragrances</U>&rdquo;) and (ii) for each Third-Party Fragrance (A) the name of the external fragrance supplier (each, an &ldquo;<U>Existing
Fragrance Supplier</U>&rdquo; and, collectively, the &ldquo;<U>Existing Fragrance Suppliers</U>&rdquo;) currently used by Seller
or any of Seller&rsquo;s Affiliates and (B) the name of the products of the Rochas Business in which such Third-Party Fragrance
is currently used.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Section
4.12(b)</U> of the Seller Disclosure Letter sets forth a complete and accurate list of the Seller&rsquo;s internally developed
and internally produced fragrances that are currently used in the products of the Rochas Business (the &ldquo;<U>Seller Fragrances</U>&rdquo;)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Section
4.12(c)</U> of the Seller Disclosure Letter sets forth (i) a complete and accurate list of the internally developed fragrances
that are currently used in the products of the Rochas Business utilizing a Firmenich proprietary ingredient (the &ldquo;<U>Hybrid
Fragrances</U>&rdquo; and, together with the Third-Party Fragrances and Seller Fragrances, the &ldquo;<U>Fragrances</U>&rdquo;))
currently used by Seller or any of Seller&rsquo;s Affiliates and (ii) the name of the products of the Rochas Business in which
such Hybrid Fragrance is currently used.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Seller
and its Affiliates have, and assuming that the required Consents are duly obtained, Acquiror will, immediately after Closing, have,
the right to use the Fragrances, in each case, as the Fragrances are currently being used in the products of the Rochas Business,
including with respect to geographic scope.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>2.16&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>French
labor law obligations</U></I></B>. Seller and any other member of the Seller Group having employees in France and Conveying any
Assumed Assets or Assumed Liabilities pursuant to the present Agreement are in compliance with all applicable Laws and internal
rules regarding the consultation process of their personnel representative bodies (&ldquo;<I>institutions representatives du personnel</I>&rdquo;)
required by French labor law and hereby represent and warrant that (i) no information is required to be furnished to their personnel
representative bodies (&ldquo;<I>institutions representatives du personnel</I>&rdquo;) as regards this Agreement and the transactions
contemplated hereby, and (ii) no consultation of or issuance by of a written opinion by such personnel representative bodies is
required prior to making decisions regarding the present Agreement and the transactions contemplated hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>2.17&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Revenues
and Net Results Prior to Closing</U></I></B>. Section 2.17 of the Seller Disclosure Letter contains the information relating to
the revenues (<I>chiffres d&rsquo;affaires</I>) and net results (<I>r&eacute;sultats d'exploitation</I>) generated by the Rochas
Business related to the Acquired Assets, during the three fiscal-year period preceding the Closing, as well as the estimated breakdown
on a monthly basis of the revenues generated by the business related to the Acquired Assets since 30 June, 2014 up to the month
preceding the date hereof in accordance with Article L.141-2 of the French Commercial Code. Considering the specificity of the
Acquired Assets, Purchaser acknowledges and agrees that such revenues and net results figures, which have been determined according
to Seller's Group&rsquo;s accounting rules and extracted from Seller's Group&rsquo;s analytical accounting system, may not be determined
precisely and are only estimates prepared in good faith on the basis of the books and records of Seller and certain of its Affiliates
with respect to the Rochas Business, and that, as such, they are not relevant to assess the expected profitability in the future
of the business related to the Acquired Assets as such business may be operated in a group other than the Seller Group. Acquiror
acknowledges and agrees that through the due diligence process it has had access, prior to the date hereof, to all information
necessary for Acquiror to assess the expected profitability of the business related to the Acquired Assets, following the Closing
Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>2.18&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>No
Other Representations or Warranties</U></I></B>. Except for the representations and warranties of Seller and Obligees expressly
set forth in this <U>Article II</U> and the Ancillary Agreements, neither Seller nor any other Person makes any other express or
implied representation or warranty on behalf of Seller or any of its Subsidiaries with respect to the Acquired Assets, the Rochas
Business, the transactions contemplated by this Agreement and the Ancillary Agreements or the accuracy or completeness of the information
concerning the Rochas Business provided by Seller or any of its Subsidiaries.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center; text-indent: 0in">III.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;REPRESENTATIONS
AND WARRANTIES OF Acquiror</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Acquiror hereby represents and warrants to Seller
that, except as set forth in the applicable Section or subsection of the Acquiror Disclosure Letter (as contemplated by <U>Section
10.13</U>):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>3.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Due
Organization, Good Standing and Corporate Power</U></I></B>. (a) Acquiror is a corporation duly organized, validly existing and
in good standing under the Laws of the jurisdiction of its incorporation and has the requisite corporate power and authority to
own, lease and operate its properties and to carry on its business as now being conducted, except, in each case, as would not reasonably
be expected to have, individually or in the aggregate, an Acquiror MAE.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acquiror
is duly qualified or licensed to do business and is in good standing in each jurisdiction in which the property owned, leased or
operated by it or the nature of the business conducted by it makes such qualification necessary, except in such jurisdictions where
the failure to be so qualified or licensed and in good standing has not had or would not reasonably be expected to have, individually
or in the aggregate, an Acquiror MAE.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>3.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Authorization
of Agreement</U></I></B>. The execution, delivery and performance of this Agreement and the Ancillary Agreements by Acquiror, and
the consummation by Acquiror of the transactions contemplated hereby and thereby, have been duly authorized and approved by its
board of directors, and no other corporate or stockholder action on the part of Acquiror or any member of the Acquiror Group is
necessary to authorize the execution, delivery and performance of this Agreement and the Ancillary Agreements or the consummation
of the transactions contemplated hereby or thereby. This Agreement has been, and the Ancillary Agreements, when executed, will
be, duly executed and delivered by Acquiror and, to the extent it is a party thereto, each is (or when executed will be) a valid
and binding obligation of Acquiror enforceable against Acquiror in accordance with its terms, subject to the Enforceability Exception.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>3.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Consents
and Approvals; No Violations</U></I></B>. Assuming that (a)&nbsp; the Governmental Approvals required to Convey any real property
or Governmental Permits to Acquiror have been made or obtained, and (b)&nbsp;the Governmental Approvals set forth on <U>Section
2.03</U> of the Seller Disclosure Letter have been obtained, the execution and delivery of this Agreement and the Ancillary Agreements
by Acquiror and the consummation by Acquiror of the transactions contemplated hereby and thereby do not and will not (i)&nbsp;violate
or conflict with any provision of the certificate of incorporation or bylaws (or the comparable governing documents) of Acquiror
or any member of the Acquiror Group, (ii)&nbsp;violate or conflict with any Law or Order of any Governmental Authority applicable
to Acquiror or any member of the Acquiror Group or by which any of its or their properties or assets may be bound, (iii)&nbsp;require
any Governmental Approval, or (iv) result in a violation or breach of, conflict with, constitute (with or without due notice or
lapse of time or both) a default under or give rise to any right of termination, cancellation or acceleration, under or result
in the creation of any Security Interest upon any of the material properties or assets of Acquiror or its Subsidiaries or give
rise to any obligation, right of termination, cancellation, acceleration or increase of any obligation or a loss of a material
benefit under, any of the terms, conditions or provisions of any Contract to which any member of the Acquiror Group is a party,
excluding in the case of clauses&nbsp;(ii) through (iv) above, conflicts, violations, breaches, defaults, rights of payment and
reimbursement, terminations, cancellations, accelerations or required approvals which would not reasonably be expected to have,
individually or in the aggregate, an Acquiror MAE.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>3.04&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Broker&rsquo;s
or Finder&rsquo;s Fee</U></I></B>. Neither Acquiror nor any of its Subsidiaries has any liability or obligation to pay any fees
or commissions to any broker, finder or other agent with respect to the transactions contemplated by this Agreement or the Ancillary
Agreements for which Seller or any of its Subsidiaries could become liable or obligated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>3.05&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Financing</U></I></B>.
Acquiror has, and at the Closing will have, available cash sufficient to consummate the transactions contemplated by this Agreement,
including the funds necessary to pay the aggregate Cash Purchase Price pursuant to <U>Section 1.10(d)</U> and all other amounts
required to be paid in connection with the consummation of the transactions contemplated by this Agreement and all Ancillary Agreements
and to allow Acquiror to perform all of its obligations under this Agreement and pay all fees and expenses to be paid by Acquiror
related to the transactions contemplated by this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>3.06&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Litigation</U></I></B>.
There are no Actions pending against Acquiror or any of its Subsidiaries or, to the Knowledge of Acquiror, threatened against Acquiror
or any of its Subsidiaries (or any of their respective properties, rights or franchises), at law or in equity, or before or by
any Governmental Authority, that have had or would reasonably be expected to have, individually or in the aggregate, an Acquiror
MAE. Neither Acquiror nor any of its Subsidiaries is subject to any Order that has had or would reasonably be expected to have,
individually or in the aggregate, an Acquiror MAE.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>3.07&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Solvency</U></I></B>.
Immediately after giving effect to the transactions contemplated hereby, Acquiror will be solvent and will (a) be able to pay its
debts as they become due, (b) own property that has a fair saleable value greater than the amounts required to pay its debts (including
a reasonable estimate of the amount of all contingent liabilities), and (c) have adequate capital to carry on its business. No
transfer of property is being made and no obligation is being incurred in connection with the transactions contemplated hereby
with the intent to hinder, delay or defraud either present or future creditors of Acquiror or Seller. In connection with the transactions
contemplated hereby, Acquiror has not incurred, nor plans to incur, debts beyond its ability to pay as they become absolute and
matured.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>3.08&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Independent
Investigation</U></I></B>. Acquiror has conducted its own independent investigation, review and analysis of the Rochas Business
and the Acquired Assets, and acknowledges that it has been provided adequate access to the personnel, properties, assets, premises,
books and records and other documents and data of Seller for such purpose. Acquiror acknowledges and agrees that in making its
decision to enter into this Agreement and to consummate the transactions contemplated hereby, Acquiror has relied solely upon its
own investigation and the express representations and warranties of Seller set forth in <U>Article II</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>3.09&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>No
Other Representations or Warranties; Acknowledgement by Acquiror</U></I></B>. (a) Except for the representations and warranties
of Acquiror expressly set forth in this <U>Article III</U> and in the Ancillary Agreements, neither Acquiror nor any other Person
makes any other express or implied representation or warranty on behalf of Acquiror or any of its Subsidiaries with respect to
Acquiror or the transactions contemplated by this Agreement and the Ancillary Agreements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acquiror
acknowledges that, except as provided herein, neither Seller nor any of its Subsidiaries nor any other Person acting on their behalf
will have or be subject to any Liability or indemnification obligation to Acquiror or any other Person acting on its behalf resulting
from the distribution in written or oral communication to Acquiror, or use by Acquiror of, any information, documents, projections,
forecasts or other material made available to Acquiror, confidential information memoranda or management interviews and presentations
in expectation of the transactions contemplated by this Agreement and the Ancillary Agreements.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center; text-indent: 0in">IV.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;COVENANTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>4.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Conduct
of Rochas Business Pending the Closing</U></I></B>. (a) Except as expressly provided by this Agreement or any Ancillary Agreement,
as set forth on <U>Section 4.01</U> of the Seller Disclosure Letter, as required by applicable Law or as expressly consented to
in writing by Acquiror (such consent not to be unreasonably withheld, conditioned or delayed), from the date of this Agreement
until the Closing (the &ldquo;<U>Pre-Closing Period</U>&rdquo;), Seller and each of its Subsidiaries will use its respective Commercially
Reasonable Efforts to, (i)&nbsp;conduct the Rochas Business in the Ordinary Course of the Rochas Business in all material respects
in accordance with applicable Law, (ii)&nbsp;preserve (other than the sale of Assets in the Ordinary Course of the Rochas Business)
the material Acquired Assets, (iii) preserve in all material respects the material business relationships of the Rochas Business
with customers, suppliers, manufacturers, distributors and others with whom the Rochas Business deals in the Ordinary Course, and
(iv)&nbsp;maintain the goodwill and reputation of the Rochas Business, including through advertising, marketing and promoting the
products of the Rochas Business in the Ordinary Course of the Rochas Business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Without
limiting the generality of <U>Section 4.01(a)</U>, and except as otherwise expressly provided in this Agreement, as set forth on
<U>Section 4.01</U> of the Seller Disclosure Letter, as required by applicable Law or as expressly consented to in writing by Acquiror
(such consent not to be unreasonably withheld, conditioned or delayed), during the Pre-Closing Period, Seller will not, nor will
it permit any of its Subsidiaries to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;sell,
pledge, dispose of, transfer, lease, license, guarantee, encumber or authorize the sale, pledge, disposition, transfer, lease,
license, guarantee or encumbrance on, any Assets that are (or would otherwise be) material Acquired Assets (excluding Rochas IP
Assets, provision for which is made in <U>Section 4.01(b)(vii) </U>and <U>Section 4.01(b)(viii)</U>), other than any sale of Rochas
Inventory (including any finished goods or work-in-process) or obsolete equipment or obsolete inventory in the Ordinary Course
of the Rochas Business, or (B) move any material Assets located at the Rochas Facilities out of the Rochas Facilities other than
in the Ordinary Course of the Rochas Business, provided that such move will not affect whether or not an Asset is an Acquired Asset;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;acquire
(including by merger, consolidation or acquisition of stock or assets) any interest in any Person or any division thereof or any
assets that would be material Acquired Assets, other than in the Ordinary Course of the Rochas Business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;adopt,
amend or terminate any Compensation and Benefit Plans, or increase the salaries, wage rates, target bonus opportunities or equity-based
compensation of Transferred Employees, in each case except (A)&nbsp;in the Ordinary Course as applicable generally to Seller Group
employees in the relevant jurisdictions, (B)&nbsp;in connection with the adoption or amendment of Compensation and Benefit Plans
(or other practices) that are applicable generally to Seller Group employees in the relevant jurisdictions, or (C)&nbsp;as required
(1)&nbsp;to comply with applicable Law, (2)&nbsp;by the terms of any Compensation and Benefit Plan in effect on the date hereof,
or (3)&nbsp;by the terms of any agreement of Seller or any of its Subsidiaries that is in effect on the date hereof, the existence
of which agreement does not constitute a breach of any representation, warranty or covenant in this Agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;amend,
modify, terminate (partially or completely), grant any waiver under or give any consent with respect to, or enter into any agreement
to amend, modify, terminate (partially or completely), grant any waiver under or give any consent with respect to, any of the Rochas
Material Contracts or enter into or assume any Contract that if in effect on the date hereof would be a Rochas Material Contract
other than in the Ordinary Course of the Rochas Business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;incur,
assume or guarantee any indebtedness for borrowed money or make or forgive any loans or advances, or make any capital contributions
to or investments in, any other Person, except as would not materially affect Acquiror&rsquo;s conduct of the Rochas Business following
the Closing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;license,
grant any rights to or transfer any of the material Rochas IP Assets or other material Intellectual Property owned or used by the
Rochas Business, other than grants of licenses in the Ordinary Course of the Rochas Business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;abandon,
cancel, let lapse, fail to renew, fail to continue to prosecute, protect or defend or otherwise dispose of any of the material
Rochas IP Assets that are Registered Intellectual Property, other than in the Ordinary Course of the Rochas Business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(viii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;enter
into any settlement, or offer or propose to enter into any settlement, or otherwise compromise or waive any material claims or
rights of the Rochas Business, in each case that would materially and adversely affect the Rochas Business or limit the ability
of Acquiror to conduct the Rochas Business as currently conducted following the Closing in any geographic area or in any other
material respect;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(ix)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;make
any material change in any method of accounting or accounting practice or policy with respect to the Rochas Business, except with
respect to Taxes or as required by applicable Law or GAAP;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(x)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;allow
the levels of raw materials, supplies or other materials included in the Rochas Inventory to vary materially from the levels customarily
maintained; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(xi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;agree,
in writing or otherwise, to take any of the foregoing actions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Seller
and Acquiror acknowledge and agree that nothing contained in this Agreement is intended to give Acquiror, directly or indirectly,
the right to control or direct the operations of the Rochas Business prior to the Closing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>4.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Further
Assurances; Efforts To Obtain Consents; Antitrust Clearance</U></I></B>. (a)&nbsp;<U>Generally</U>. In addition to the actions
specifically provided for elsewhere in this Agreement or in any Ancillary Agreement, each of the Parties will cooperate with each
other and use (and will cause their respective Subsidiaries and Affiliates to use) their reasonable best efforts, prior to, at
and after the Closing Date, to take, or to cause to be taken, all actions, and to do, or to cause to be done, all things reasonably
necessary on its part under applicable Law or contractual obligations to consummate and make effective the transactions contemplated
by this Agreement and the Ancillary Agreements as promptly as practicable, including, if applicable, forming legal entities, opening
bank accounts and reaffirming any consents, approvals or waivers previously granted; <U>provided</U>, <U>however</U>, that (i)
with respect to the matters that are the subject of <U>Section 1.07</U>, such matters will be governed by that Section instead
of this <U>Section 4.02(a)</U> following the Closing, and (ii) except as otherwise provided in <U>Section 4.02(b)</U> or <U>4.02(c)</U>,
neither Seller nor Acquiror will be required to make any non-de minimis payments, incur any non-de minimis Liability or offer or
grant any non-de minimis accommodation (financial or otherwise) to any third party in connection with obtaining any Consent or
Governmental Approval.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Requisite
Antitrust Filings</U>. Seller and Acquiror will comply fully with all applicable notification, reporting and other requirements
of applicable Antitrust Laws in connection with the transactions contemplated by this Agreement. Seller and Acquiror, as soon as
practicable after the date of this Agreement (and in any event within five Business Days), will file the required notifications
with the appropriate Governmental Authorities pursuant to and in compliance with all applicable Antitrust Laws in accordance with
<U>Section 4.02(b)</U> of the Seller Disclosure Letter. Seller and Acquiror will as soon as practicable file any additional information
reasonably requested by any Governmental Authority in connection with any Antitrust Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Efforts
To Obtain Antitrust Approvals</U>. Seller and Acquiror will each use reasonable best efforts to obtain, or terminate, as the case
may be, as soon as practicable, the Governmental Approvals required by any Antitrust Law (the &ldquo;<U>Antitrust Approvals</U>&rdquo;)
that may be or become necessary for the performance of its obligations under this Agreement, the Ancillary Agreements and the consummation
of the transactions contemplated hereby and thereby and will cooperate fully with each other in promptly seeking to obtain such
Antitrust Approvals or terminate any waiting period thereunder, all such actions to be effective prior to the Closing. Acquiror
and Seller will cooperate in connection with the antitrust defense of the transactions contemplated hereby in any investigation
or litigation by, or negotiations with, any Governmental Authority or other Person relating to the transactions contemplated hereby
or regulatory filings under applicable Antitrust Laws. Without limiting the foregoing and subject to applicable legal limitations
and the instructions of any Governmental Authority, each of Seller and Acquiror agrees with respect to obtaining any Antitrust
Approval to (A) cooperate and consult with each other, (B) furnish to the other such necessary information and assistance as the
other may reasonably request in connection with its preparation of any notifications or filings, (C) keep each other apprised of
the status of matters relating to the completion of the transactions contemplated thereby, including promptly furnishing the other
with copies of notices or other communications received by such party from, or given by such party to, any third party and/or any
Governmental Authority with respect to such transactions, (D) permit the other party to review and consider in good faith the other
party&rsquo;s reasonable comments in any communication to be given by it to any Governmental Authority with respect to obtaining
the necessary Antitrust Approvals, and (E) not participate in any meeting or substantive discussion, either in person or by telephone,
with any Governmental Authority in connection with the transactions contemplated hereby unless, to the extent not prohibited by
such Governmental Authority, it gives the other party the opportunity to attend and observe.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Seller
and its Subsidiaries shall use Commercially Reasonable Efforts to obtain all necessary Consents required to effect the transactions
contemplated by this Agreement that are requested in writing by Acquiror to be obtained, including those necessary to transfer
the Rochas Material Contracts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>4.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Public
Announcements</U></I></B>. (a) The press release(s) announcing the execution and delivery of this Agreement and the transactions
contemplated hereby will be in the form(s) attached as <U>Exhibit&nbsp;A</U> (the &ldquo;<U>Transaction Announcement</U>&rdquo;).
From the date hereof through the Closing, neither Seller nor Acquiror will publish any press releases or make other public statements
(including to securities analysts) that contradicts the Transaction Announcement with respect to this Agreement, the Ancillary
Agreements and the transactions contemplated hereby (or the portion thereof relating to this Agreement, the Ancillary Agreements
and the transactions contemplated hereby), except as such Party determines in good faith is required by Law after consultation
with counsel (in which case, such Party will consult with the other Party to the extent reasonably practicable under the circumstances
prior to making such disclosure and will only disclose that information that is required by Law based upon advice of counsel),
without the prior approval of the other Party, such approval not to be unreasonably withheld, conditioned or delayed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Seller
acknowledges that the parent of Acquiror, InterParfums, Inc. (&ldquo;<U>Acquiror Parent</U>&rdquo;) is a publicly held company
and is subject to reporting requirements of the United States federal securities laws; Acquiror Parent is obligated to issue a
press release promptly subsequent to the execution of this Agreement; is obligated to file with the United States Securities and
Exchange Commission a Current Report on Form 8-K within four business days of the execution of this Agreement disclosing the material
terms of this Agreement; and may be required to file a copy of this Agreement with the Securities and Exchange Commission. Notwithstanding
anything to the contrary contained in this Agreement, nothing in this Agreement shall preclude or prohibit such disclosure as may
be required by Acquiror Parent under applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>4.04&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Notification
of Certain Matters</U></I></B>. Each of Seller and Acquiror will give prompt written notice to the other of (a)&nbsp;any notice
or other communication from any Person alleging that the Consent of such Person is or may be required in connection with the transactions
contemplated hereby or (b)&nbsp;any Action commenced or threatened in writing against, relating to or involving or otherwise affecting
it or any of its Affiliates that relate to the consummation of the transactions contemplated hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>4.05&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Access</U></I></B>.
From the date hereof to the Closing, to the extent permitted by Law, Seller will allow all designated Representatives of Acquiror,
access to the extent reasonably practicable upon reasonable notice to the Acquired Assets; provided, however, that (i) no investigation
pursuant to this <U>Section 4.05</U> will affect any representation or warranty given by Seller hereunder or any closing condition,
indemnity obligation or other provision and (ii) notwithstanding the provision of information or investigation by Seller, Seller
will not be deemed to make any representation or warranty except as expressly set forth in this Agreement. Notwithstanding the
foregoing, (A) Seller will not be required to provide any information which it determines in good faith it may not provide to Acquiror
by reason of applicable Law (including any information in confidential personnel files), or which constitutes Privileged Communications
or other information which Seller&rsquo;s outside legal counsel advises is protected by attorney-client or other similar privilege
(provided that Seller and Acquiror will discuss in good faith if any joint defense privilege that would permit such privilege to
be maintained), and (B) Seller will not be required to provide access to any performance review materials or any information from
personnel files that relates to an individual employee&rsquo;s participation in bonus plans and similar incentive compensation
arrangements (other than individual bonus opportunities based on target bonus as a percentage of base salary). Each of Seller and
Acquiror agrees that it will not, and will cause its respective Representatives not to, use any information obtained pursuant to
this <U>Section 4.05</U> for any purpose unrelated to this Agreement and the Ancillary Agreements. All information provided by
a Party to the other Party hereunder will be kept confidential to the same extent as would be applicable if the Confidentiality
Agreement were in effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>4.06&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Agreement
for Exchange of Information</U></I></B>. (a) <U>Generally</U>. (i) Except as prohibited by applicable Law, each Party, on behalf
of its respective Group, will provide, or cause to be provided, to the other Party&rsquo;s Group, at any time after the Closing
Date and until the sixth anniversary of the Closing Date, as soon as reasonably practicable after written request therefor, any
Shared Information in its possession or under its control. Each of Seller and Acquiror agree to make their respective personnel
available during regular business hours to discuss the Information exchanged pursuant to this <U>Section 4.06</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Party will provide to the other such Information as the other may from time to time reasonably request in order to prepare its
financial statements and satisfy its public reporting obligations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior
to the Closing, each Party will take measures that it determines in good faith to be appropriate to ensure compliance with applicable
Law and that any competitively sensitive Shared Information from one Party is not disclosed to the other Party&rsquo;s personnel
involved in a competing business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Ownership
of Information</U>. Any Information owned by a Party that is provided to the other Party pursuant to this <U>Section 4.06</U> remains
the property of the Party that owned and provided such Information. Each Party will, and will cause members of their respective
Groups to, remove and destroy any hard drives or other electronic data storage devices from any computer or server that is reasonably
likely to contain Information that is protected by this <U>Section 4.06</U> and that is transferred or sold to a third party or
otherwise disposed of in accordance with <U>Section 4.06(c)</U>, unless required by Law or bona fide document retention policies
to retain such materials.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Record
Retention</U>. Each Party agrees to use its Commercially Reasonable Efforts to retain all Information that relates to the operations
of the Rochas Business in its respective possession or control at the Closing in accordance with their respective then existing
document retention policies, as such policies may be amended from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Other
Agreements Providing for Exchange of Information</U>. The rights and obligations granted under this <U>Section 4.06</U> are subject
to any specific limitations, qualifications or additional provisions on the sharing, exchange or confidential treatment of Information
set forth in this Agreement and any Ancillary Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Compensation
for Providing Information</U>. The Party requesting Information will reimburse the other Party for the reasonable out-of-pocket
costs, if any, of creating, gathering and copying such Information, to the extent that such costs are incurred for the benefit
of the requesting Party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Production
of Witnesses; Records; Cooperation</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;After
the Closing Date, except in the case of any Action by one Party or its Affiliates against another Party or its Affiliates, each
Party will use its Commercially Reasonable Efforts to make available to each other Party, upon written request, the former, current
and future directors, officers, employees, other personnel and agents of the members of its respective Group as witnesses and any
books, records or other documents within its control or which it otherwise has the ability to make available, to the extent that
any such Person (giving consideration to reasonable business demands of such directors, officers, employees, other personnel and
agents) or books, records or other documents are reasonably requested in connection with any Action in which the requesting Party
may from time to time be involved.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
an Indemnifying Party chooses to defend or to seek to compromise or settle any Third-Party Claim, the other Party will use Commercially
Reasonable Efforts to make available to such Indemnifying Party, upon written request, the former, current and future directors,
officers, employees, other personnel and agents of the members of its respective Group as witnesses and any books, records or other
documents within its control or which it otherwise has the ability to make available, to the extent that any such Person (giving
consideration to business demands of such directors, officers, employees, other personnel and agents) or books, records or other
documents are reasonably requested in connection with such defense, settlement or compromise, or the prosecution, evaluation or
pursuit thereof, as the case may be.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
obligation of the Parties to provide witnesses pursuant to this <U>Section 4.06</U> is intended to be interpreted in a manner so
as to facilitate cooperation and will include the obligation to provide as witnesses managers and other officers without regard
to whether the witness or the employer of the witness could assert a possible business conflict.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Restrictions</U>.
Except as expressly provided in this Agreement or any Ancillary Agreement, no Party or member of such Party&rsquo;s Group grants
or confers rights of license in any Information owned by any member of such Party&rsquo;s Group to any member of the other Party&rsquo;s
Group hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Updated
Revenues and Results</U>. On or prior to the Closing Date, Seller shall provide Acquiror with an updated <U>Section 2.17</U> of
the Seller Disclosure Letter containing the information relating to the revenues (<I>chiffres d&rsquo;affaires</I>) and net results
(<I>r&eacute;sultats d'exploitation</I>) generated by the Rochas Business related to the Acquired Assets, during the three fiscal-year
period preceding the Closing Date, as well as the estimated breakdown on a monthly basis of the revenues generated by the business
related to the Acquired Assets since 30 June 2014 up to the month end prior to the Closing Date in accordance with Article L.141-2
of the French Commercial Code. Any updates pursuant to this Section 4.06(h) will be without prejudice to Acquiror&rsquo;s rights
under <U>Article VIII</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>4.07&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Privileged
Matters</U></I></B>. (a) As to all privileged communications among counsel for Seller or the Seller Group (including Jones Day
and in-house counsel of Seller or the Seller Group), Seller and any other member of the Seller Group that relate in any way to
the transactions contemplated by this Agreement (collectively, the &ldquo;<U>Privileged Communications</U>&rdquo;), the attorney-client
privilege and the expectation of client confidence belongs to Seller and may be controlled by Seller and will not pass to or be
claimed by Acquiror or any of its Affiliates. The Privileged Communications are the property of Seller, and from and after the
Closing none of Acquiror, any other member of the Acquiror Group or any Person purporting to act on behalf of or through the Acquiror
or any other member of the Acquiror Group will seek to obtain such communications, whether by seeking a waiver of the attorney-client
privilege or through other means. As to any such Privileged Communications prior to the Closing Date, Acquiror and each member
of the Acquiror Group, together with any of their respective Affiliates, successors or assigns, further agree that no such Person
may use or rely on any of the Privileged Communications in any action against or involving any of the Parties after the Closing.
Notwithstanding the foregoing, the Seller or any other member of the Seller Group may waive the privilege relating to some or all
of the Privileged Communications in which case such communications may be used by the Seller and/or any other member of the Seller
Group in connection with any dispute that relates in any way to the transactions contemplated by this Agreement, including in any
claim for indemnification brought by Acquiror. Notwithstanding the foregoing, in the event that a dispute arises between Acquiror
or any of its Affiliates and a third party (other than a Party or any of their respective Affiliates) after the Closing, Acquiror
may assert the attorney-client privilege to prevent disclosure of confidential communications by counsel for Seller or the Seller
Group to such third party; <U>provided</U>, <U>however</U>, that neither Acquiror nor any of its Affiliates may waive such privilege
without the prior written consent of Seller.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon
receipt by Acquiror or any of its Affiliates of any subpoena, discovery or other request from any third party that actually or
arguably calls for the production or disclosure of Privileged Communications or if Acquiror or any of its Affiliates obtains knowledge
that any current or former employee of Acquiror receives any subpoena, discovery or other request from any third party that actually
or arguably calls for the production or disclosure of Privileged Communications Acquiror will promptly notify Seller of the existence
of the request and will provide Seller a reasonable opportunity to assert any rights it may have under this <U>Section 4.07</U>
or otherwise to prevent the production or disclosure of Privileged Communications. Acquiror will not, and will cause its Affiliates
not to, produce or disclose to any third party any of the Privileged Communications under this <U>Section 4.07</U> unless (i)&nbsp;Seller
has provided its express written consent to such production or disclosure or (ii)&nbsp;a court of competent jurisdiction has entered
an Order finding that the Privileged Communications are not entitled to protection from disclosure under any applicable privilege,
doctrine or rule.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Seller&rsquo;s
Conveyance of books and records pertaining to the Rochas Business and other Information to Acquiror, Seller&rsquo;s covenant to
permit Acquiror to obtain Information existing prior to the Closing Date and Acquiror&rsquo;s covenant to permit Seller to obtain
Information existing prior to the Closing Date are made in reliance on Seller&rsquo;s and Acquiror&rsquo;s respective agreements,
as set forth in <U>Section 4.06</U> and this <U>Section 4.07</U>, to maintain the confidentiality of such Information and to take
the steps provided herein for the preservation of all Privileged Communications that may belong to or be asserted by Seller. The
access to Information, witnesses and individuals being granted pursuant to <U>Section 4.06</U> and the disclosure to Seller and
Acquiror of Privileged Communications relating to the Rochas Business pursuant to this Agreement in connection with the transactions
contemplated hereby will not be asserted by Seller or Acquiror to constitute, or otherwise deemed, a waiver of any Privilege that
has been or may be asserted under this <U>Section 4.07</U> or otherwise. Nothing in this Agreement will operate to reduce, minimize
or condition the rights granted to Seller and Acquiror in, or the obligations imposed upon Seller and Acquiror by, this <U>Section
4.07</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>4.08&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Non-Solicitation;
No Hiring</U></I></B>. (a) Seller agrees that for a period of 24 months from the Closing Date, Seller will not, and will cause
each other member of the Seller Group not to, without obtaining the prior written consent of Acquiror, directly or indirectly,
solicit for employment or employ (or refer to another Person for the purpose of such Person soliciting for employment or employing)
any Transferred Employee (after giving effect to any employee transfers contemplated in this Agreement); <U>provided</U>, <U>however</U>,
that (i) no member of the Seller Group will be deemed to have solicited any such Person who is an employee of the Acquiror Group
and responds to any general media advertisement or job posting placed by or on behalf of Seller or any member of the Seller Group
or such Person is contacted by an employment search firm engaged by Seller or a member of the Seller Group that is not specifically
directed to solicit Persons employed by Acquiror or the Acquiror Group and (ii)&nbsp;any member of the Seller Group may solicit
and hire any such Person if such Person&rsquo;s employment has terminated for any reason whatsoever or such Person has been given
notice of such termination, in either case, prior to any unpermitted direct or indirect solicitation by any member of the Seller
Group.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acquiror
agrees that for a period of 24 months from the Closing Date, Acquiror will not, and will cause each other member of the Acquiror
Group not to, without obtaining the prior written consent of Seller, directly or indirectly, solicit for employment or employ (or
refer to another Person for the purpose of such Person soliciting for employment or employing) any employee of Seller or any member
of the Seller Group; <U>provided</U>, <U>however</U>, that (i) no member of the Acquiror Group will be deemed to have solicited
any such Person who is an employee of the Seller Group and responds to any general media advertisement or job posting placed by
or on behalf of Acquiror or any member of the Acquiror Group or such Person is contacted by an employment search firm engaged by
Acquiror or a member of the Acquiror Group that is not specifically directed to solicit Persons employed by Seller or the Seller
Group and (ii) any member of the Acquiror Group may solicit and hire any such Person if such Person&rsquo;s employment has terminated
for any reason whatsoever or such Person has been given notice of such termination, in either case, prior to any unpermitted direct
or indirect solicitation by any member of the Acquiror Group.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>4.09&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Intellectual
Property Assignment/Recordation</U></I></B>. Each Party will be responsible for, and will pay all expenses (whether incurred before
or after the Closing) involved in notarization, authentication, legalization or consularization of the signatures of any of the
representatives of its Group on any of the Transfer Documents relating to the transfer of Intellectual Property. Acquiror will
be responsible for, and will pay, all expenses (whether incurred before or after the Closing) relating to, the recording of any
such Transfer Documents relating to the transfer of Intellectual Property from any member of the Seller Group to any member of
the Acquiror Group with any Governmental Authorities as may be necessary or appropriate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>4.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Use
of Seller Names and Marks</U></I></B>. (a) &ldquo;<U>Seller Names and Marks</U>&rdquo; means the names and marks &ldquo;P&amp;G&rdquo;
and &ldquo;Procter and Gamble&rdquo; (in any style or design), and any Trademark derived from, confusingly similar to or including
any of the foregoing. Subject to the terms and conditions of this <U>Section 4.10</U>, Seller, on behalf of itself and its Affiliates
as necessary, hereby grants to Acquiror a limited, non-transferable, non-sublicensable, non-exclusive, royalty-free license, for
the six-month period following the Closing Date (the &ldquo;<U>Transition Period</U>&rdquo;), to use the Seller Names and Marks
in connection with the Rochas Business in the manner set forth in <U>Section 4.10(d)</U>. Acquiror will use Commercially Reasonable
Efforts to transition from use of the Seller Names and Marks as soon as reasonably practicable and in any event prior to expiration
of the Transition Period. Except as expressly provided in this <U>Section 4.10</U>, Seller reserves for itself and its Affiliates
all rights in the Seller Names and Marks, and no other rights therein are granted to any, member of the Acquiror Group or any of
their respective Affiliates, whether by implication, estoppel or otherwise. All use of the Seller Names and Marks by the Acquiror
Group will inure to the benefit of Seller and its Affiliates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
soon as practicable following the Closing Date, and in any event prior to the expiration of the Transition Period, Acquiror will,
and will cause the other members of the Acquiror Group to, (i)&nbsp;remove all Seller Names and Marks from any internet or other
electronic communications vehicles, including internet domain names and from the content of any internet websites within the Acquired
Assets, and remove all links to any internet domains of Seller or any of its Affiliates from any of the foregoing, (ii) remove
or irreversibly cover or modify all Seller Names and Marks from or destroy any packaging bearing any of the Seller Names and Marks,
except that the Rochas Business may continue to sell inventories of finished goods existing as of the Closing Date and included
in the Acquired Assets packaged in packaging bearing the Seller Names and Marks until the expiration of the applicable shelf lives
of such products; <U>provided</U>, <U>however</U>, that Acquiror and its Affiliates use their Commercially Reasonable Efforts to
sell such existing inventories prior to the sale of subsequently manufactured or packaged products, (iii) remove or irreversibly
cover or modify all Seller Names and Marks from or destroy any product literature, store displays and similar materials bearing
any of the Seller Names and Marks, and (iv) remove or irreversibly cover or modify any and all of Seller&rsquo;s UPC and EAN codes
from packaging, products or other Assets Conveyed to Acquiror.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
all other uses of the Seller Names and Marks not specifically identified in <U>Section 4.10(b)</U> (<U>e.g.</U>, signage, business
cards and stationery), for up to 90 days after the Closing Date, in each applicable jurisdiction, the Rochas Business may continue
to use the Seller Names and Marks on the same materials and in substantially the same manner as used by the Rochas Business during
the 90-day period preceding the Closing. In each applicable jurisdiction, as soon as practicable following the Closing Date, and,
in any event within 90 days after the Closing Date, Acquiror will, and will cause the other members of the Acquiror Group to, remove
or irreversibly cover or modify all Seller Names and Marks from or destroy any such other materials bearing any of the Seller Names
and Marks.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
no event will the Rochas Business use, and Acquiror will, and will cause the other members of the Acquiror Group to not use, any
of the Seller Names and Marks after the Closing in any manner or for any purpose other than in the same or substantially same manner
that such Seller Names and Marks were being used by the Rochas Business during the 90-day period preceding the Closing. Without
limiting the generality or effect of the foregoing, all products sold by the Rochas Business using any Seller Name or Mark will
be of high quality, consistent in nature and quality with such products as sold by the Rochas Business in the 90-day period preceding
Closing. Seller reserves the right to reasonably inspect the Rochas Business&rsquo;s quality control of the products sold bearing
and uses of a Seller Name or Mark and other compliance with the terms of the license granted under this <U>Section 4.10</U>, in
each of the foregoing cases, upon reasonable prior written notice to Acquiror and during normal business hours.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
license granted under this <U>Section 4.10</U> may be terminated by written notice if Acquiror or the Rochas Business is in material
breach of any provision hereof that remains uncured for more than ten days after written notice thereof from Seller. Upon such
termination of the license granted hereunder for any reason, Acquiror and its Affiliates will not use any of the Seller Names and
Marks.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>4.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Removal
of Tangible Assets</U></I></B>. (a) Except as may be otherwise provided in the Ancillary Agreements or otherwise agreed to by the
Parties in writing, all tangible Acquired Assets that are located at any facilities of any member of the Seller Group that are
not Rochas Facilities will be moved prior to the Closing to a Rochas Facility. If such Acquired Assets are not moved prior to the
Closing, then Seller will cause such Acquired Assets to be moved as promptly as reasonably practicable after the Closing Date from
such facilities to a Rochas Facility, at Seller&rsquo;s expense and in a manner so as not to cause substantial damage to such Acquired
Assets, <U>provided</U>, that Acquiror will be responsible for the installation of such property within its facilities. Any damage
to the Acquired Assets or the Rochas Facilities resulting from such moves shall be paid by Seller at the Closing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as otherwise agreed to by the Parties, all tangible Excluded Assets (if any) that are located at any of the Rochas Facilities will
be removed from such facilities prior to the Closing (or as promptly as reasonably practicable thereafter), at Seller&rsquo;s expense
and in a manner so as not to unreasonably interfere with the operations of any member of the Acquiror Group and to not cause substantial
damage to such Rochas Facility, and such member of the Acquiror Group will provide reasonable access as applicable to such Rochas
Facility to effectuate such movement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Should
Seller fail to remove the Excluded Assets as required by this <U>Section 4.11</U>, Acquiror shall have the right, but not the obligation,
(a) to remove the Excluded Assets at Seller's sole cost and expense; (b) to store the Excluded Assets and to charge Seller all
storage costs associated therewith; (c) to treat the Excluded Assets as unclaimed and to proceed to dispose of the same under the
laws governing unclaimed property; or (d) to exercise any other right or remedy conferred by this Agreement or otherwise available
at law or in equity. Seller shall promptly reimburse Acquiror for all costs and expenses incurred by Acquiror in connection with
any Excluded Assets not removed by Seller on or before the Closing Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>4.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Access
to Fragrances</U></I></B>. (a) With respect to the Third-Party Fragrances, Seller hereby agrees to waive (which waiver will be
effective as of the Closing Date) any exclusivity provision in Seller&rsquo;s supply agreements with the relevant Existing Fragrance
Suppliers that is necessary to allow Acquiror to establish its own independent relationship with such Existing Fragrance Suppliers
who can, subject to Acquiror reaching a mutually agreeable arrangement with such Existing Fragrance Suppliers, supply the Third-Party
Fragrances directly to Acquiror on an exclusive basis solely for use by Acquiror.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With
respect to the Hybrid Fragrances, Seller hereby agrees to provide to the Acquiror the formula card for the portion of the Hybrid
Fragrances that Seller or its Affiliates produce. Acquiror may provide such formula card or any portion thereof to Firmenich to
allow Acquiror to establish its own independent relationship with Firmenich who can, subject to Acquiror reaching a mutually agreeable
arrangement with Firmenich, produce and supply either (1) any proprietary ingredients of the Hybrid Fragrances on a non-exclusive
basis for use by Acquiror in the products of the Rochas Business as they were used in the Rochas Business as of the date of this
Agreement, including the geographic scope of the Rochas Business or (2) the Hybrid Fragrances directly to Acquiror on an exclusive
basis for use by Acquiror.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(c) With respect to the Seller Fragrances, Seller
hereby agrees to provide the formula card for the Seller Fragrances to the Acquiror for use by Acquiror.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>4.13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Insurance
Matters</U></I></B>. From and after the Closing, Acquiror will not, and will cause its Affiliates not to, assert any claim against
any insurance policies or practices of Seller and its Affiliates under any captive insurance policies, fronted insurance policies,
surety bonds or corporate insurance policies or practices, or any form of self-insurance whatsoever; <U>provided</U>, <U>however</U>,
that (a)&nbsp;Seller and Acquiror agree that all claims with respect to insured events occurring prior to the Closing will be administered
in accordance with the terms of Seller&rsquo;s or its Subsidiaries&rsquo; third-party policies, if any, and coverage applicable
to such claims, (b)&nbsp;Acquiror will receive the benefit of such third-party policies with respect to such claims to the extent
losses occurring prior to the Closing related to Acquired Assets are covered notwithstanding the consummation of the transactions
contemplated by this Agreement, and (c) Seller will receive the benefit of such policies with respect to such claims to the extent
losses occurring prior to the Closing related to Liabilities other than Assumed Liabilities are covered notwithstanding the consummation
of the transactions contemplated by this Agreement and provided that in the case of clauses (b) and (c) such recovery will be net
of any deductibles or self-insured retention amounts, costs of any retroactive insurance premiums or other amounts paid or expenses
incurred in connection with any insured claims made after the Closing under any such policies that relate to the period prior to
Closing or any amounts paid by Seller pursuant to <U>Article VIII</U> in respect of the applicable Liabilities (it being understood
that Seller will have the right to determine whether or not to make any claim against Seller&rsquo;s insurance policies).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>4.14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Confidentiality</U></I></B>.
(a) The Parties acknowledge that in connection with the transactions contemplated hereby, the Parties have disclosed to each other
Information which the Parties consider proprietary and confidential (&ldquo;<U>Confidential Information</U>&rdquo;). For the avoidance
of doubt, any information disclosed by or on behalf of the Parties under the Confidentiality Agreement that is subject to the confidentiality
obligations contained therein will be, and will be deemed to be, Confidential Information for purposes of this Agreement and will
be subject to all of the terms and conditions of this Agreement, including the restrictions on the disclosure of such Confidential
Information contained herein. The Parties agree that, after the Closing, Information that constitutes an Acquired Asset will be
Confidential Information of Acquiror and Acquiror will not be subject to this <U>Section 4.14</U> (except for <U>Section 4.14(c)</U>)
with respect to such information, and Seller will be deemed to be the Receiving Party of such Confidential Information for purposes
of <U>Section 4.14(b)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Party receiving Confidential Information (the &ldquo;<U>Receiving Party</U>&rdquo;) recognizes and acknowledges:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;that
Confidential Information of the other Party may be commercially valuable proprietary products of such Party, the design and development
of which may have involved the expenditure of substantial amounts of money and the use of skilled development experts over a long
period of time and which afford such Party a commercial advantage over its competitors;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;that
the loss of this competitive advantage due to unauthorized disclosure or use of Confidential Information of such Party may cause
great injury and harm to such Party; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;that
the restrictions imposed upon the Parties under this <U>Section 4.14</U> are necessary to protect the secrecy of Confidential Information
and to prevent the occurrence of such injury and harm. The Parties agree that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">(A)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;disclosure
of Confidential Information will be received and held in confidence by the Receiving Party and that such Receiving Party will not,
without the prior written consent of the Party from whom such Confidential Information was obtained (the &ldquo;<U>Disclosing Party</U>&rdquo;),
disclose, divulge or permit any Person to obtain any Confidential Information disclosed by the Disclosing Party (whether or not
such Confidential Information is in written or tangible form), other than to Subsidiaries of the Receiving Party and their employees
and agents, in each case, who have a need to know such Confidential Information and who are bound in writing by duties of confidentiality
and non-use obligations with respect to such Confidential Information no less protective of the Disclosing Party than those set
forth herein;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">(B)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Receiving Party will take such steps as may be reasonably necessary to prevent the disclosure of Confidential Information to others;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">(C)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Receiving Party will use the Information only in connection with the transactions contemplated hereby to perform its and its Group&rsquo;s
obligations, or to exercise its rights, under this Agreement and the Ancillary Agreements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
commitments set forth above will not extend to any portion of Confidential Information:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;which
is already known to the Receiving Party other than any member of Seller Group with respect to Confidential Information related
to the Rochas Business, or is information generally available to the public;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;which,
hereafter, through no act in violation of the present Agreement or the Confidentiality Agreement or any other applicable duty on
the part of the Receiving Party or its Representatives becomes generally available to the public;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;which
corresponds in substance to a disclosure furnished to the Receiving Party by any third party having a bona fide right to do so
and not having any confidential obligation, direct or indirect, to the Disclosing Party with respect to the same; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;which
is required to be disclosed by Law; <U>provided</U> that the Receiving Party provides reasonable prior written notice of such required
disclosure to the Disclosing Party following the Receiving Party&rsquo;s knowledge of such requirement in order to provide the
Disclosing Party with an opportunity to prevent or limit such disclosure by seeking a protective order or other appropriate remedy
at the sole expense of the Disclosing Party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>4.15&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Transition
Coordination; Completion of Agreements</U></I></B>. Subject to applicable Law, from and after the date hereof until the Closing,
Seller and Acquiror will cooperate in good faith on transition planning, including forming transition teams that are each sufficiently
staffed. As part of the transition planning, the transition teams will meet, either in person or teleconference, to finalize the
operational details of each of the Ancillary Agreements and all schedules thereto, in each case in accordance with applicable Law.
For the avoidance of doubt, Seller and Acquiror agree that the material terms of the Ancillary Agreements in the forms attached
hereto will not be changed without their mutual agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>4.16&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>No
Shop</U></I></B>. Between the date hereof and the Closing Date, the Seller shall not, nor shall it permit any of its Affiliates
to, or authorize or permit any director, officer or employee of the Seller or any of its Affiliates or any advisor or representative
of the Seller or its Affiliates to, directly or indirectly (i) solicit, encourage or facilitate, any Alternative Proposal, or (ii)
enter into, continue, or otherwise participate in any discussions or negotiations regarding, or furnish to any person any information
with respect to, or otherwise cooperation in any way with, any Alternative Proposal. For the avoidance of doubt, Seller and Acquiror
acknowledge, pursuant to Article L. 141-23 of the French Commercial Code, that any employee of Parfums Rochas SAS can make an offer
to Seller for the Rochas Business until April 19th, 2015, and such offer and Sellers&rsquo; actions with respect thereto will not
be in violation of this <U>Section 4.17</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>4.17&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Rochas
Name</U></I></B>. Within 90 days following the Closing, Seller will file with the appropriate Governmental Authority the documents
necessary to change the name of Parfums Rochas SAS to remove the name &ldquo;Rochas.&rdquo; Acquiror will provide Seller with reasonable
cooperation as necessary to effect such name change.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center; text-indent: 0in">V.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EMPLOYEE
MATTERS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>5.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Identification
of Employees</U></I></B>. (a) The list of Transferred Employees is set forth on <U>Section 5.01</U> of the Seller Disclosure Letter.
Seller may update <U>Section 5.01</U> of the Seller Disclosure Letter from time to time in order to maintain the accuracy of <U>Section
5.01</U> of the Seller Disclosure Letter, including as a result of terminations, transfers, new hires and accidental or inadvertent
errors or omissions, highlighting such changes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With
respect to each Rochas Business Acquired Plan, within 30 days following the date of this Agreement, Seller will provide or make
available to Acquiror copies of the most recent actuarial valuation, if applicable, and any other financial statements in respect
of the Transferred Employees who participate in each such Rochas Business Acquired Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>5.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Transferred
Employees</U></I></B>. (a) As a consequence of the transfer of the Acquired Assets, the contracts of employment of all the Transferred
Employees will automatically transfer to the Acquiror Group at Closing in accordance with the Transfer Regulations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acquiror
will comply with all mandatory provisions of the Transfer Regulations and in particular will maintain individual terms of employment
contracts of the Transferred Employees, including length of service, remuneration, and place of work. From and after the Closing,
Seller will bear no obligation or liability with respect to any of the Transferred Employees and Acquiror will indemnify and hold
Seller harmless from and against any termination, severance, claim or other liability arising in connection with the Transferred
Employees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>5.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Terms
of Employment</U></I></B>. (a) <U>Employment Position</U>. As of the Closing, Acquiror will, or will cause one of its Subsidiaries
to, provide to each Transferred Employee employment in a position at least comparable to that held by such Transferred Employee
immediately before the Closing. A Transferred Employee&rsquo;s position will be treated as comparable only if (i) the responsibilities
of the position are generally comparable to the responsibilities of such Transferred Employee immediately prior to the Closing,
and (ii) there is not an increase in the Transferred Employee&rsquo;s business travel that results in either (A) an undue hardship
to the Transferred Employee when compared to the Transferred Employee&rsquo;s business travel immediately prior to the Closing
or (B) the Transferred Employee spending 50% or more of his or her business time away from such Transferred Employee&rsquo;s primary
place of employment if such time away differs materially from the period immediately prior to the Closing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Transfer
of Agreements</U>. (i) To the extent that (A) the applicable Law of any jurisdiction, (B) any applicable collective bargaining
agreement or other applicable agreement with a works council or economic committee, or (C) any applicable employment agreement,
would require Acquiror or its Affiliates to provide any more favorable terms of employment to any Transferred Employee than those
otherwise provided for by this <U>Section 5.03</U> (or extend the period of time for which such standards are met), in connection
with the sale of the Rochas Business to Acquiror, then Acquiror will, or will cause one of its Subsidiaries to, provide such Transferred
Employee with such more favorable term, and otherwise provide terms of employment in accordance with this <U>Section 5.03</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acquiror
and Seller agree that to the extent provided under the applicable Laws, (A) any employment agreements between Seller and its Affiliates,
on the one hand, and any Transferred Employee, on the other hand, and (B) any collective bargaining agreements applicable to the
Transferred Employees in such jurisdictions, will in each case be in effect and be binding upon Acquiror after the Closing as if
originally made between Acquiror and the other parties to such employment agreement or collective bargaining agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Severance</U>.
With respect to each Transferred Employee who is notified of a termination for economic reasons (i.e., other than for Cause) before
November 25, 2017, Acquiror will, or will cause one of its Affiliates to, provide such employee with the severance payments and
benefits set forth on <U>Section 5.03(c)</U> of the Seller Disclosure Letter, and under the applicable formula set forth on the
attachment to <U>Section 5.03(c)</U> of the Seller Disclosure Letter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>5.04&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Bonuses
and Incentives</U></I></B>. (a) Except as otherwise set forth in<U> Section 5.04(b)</U>, Seller will retain all obligations to
the Transferred Employees, including Transferred Employees, with respect to the bonuses and incentives under Seller&rsquo;s Short
Term Achievement Reward (STAR) bonus program, Long-Term Incentive (LTI) program, Key Manager Stock Option Program and any other
cash, annual, long-term, equity or similar incentive program in which the Transferred Employees participate for the plan year in
which the Closing Date occurs that are attributable to the period prior to the Closing;<U> provided</U>,<U> however</U>, that,
if requested by Seller, Acquiror or one of its Subsidiaries will make all cash payments in respect of any such program so long
as Seller transfers to Acquiror or a designated Subsidiary, as of the Closing, all amounts payable in respect of such cash obligations
that are attributable to the period prior to the Closing and any associated Taxes payable by Acquiror or any of its Subsidiaries
in connection with such cash payments (but Seller will not be liable for any Tax withholding except to the extent it is required
to remit any such Tax withheld from any such bonuses and incentives to the appropriate Governmental Authority).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
<U>Section 5.04(a)</U>, Acquiror will, or will cause one of its Subsidiaries, to pay to each Transferred Employee any 13th month,
jubilee and/or similar payment, as applicable, that would next be payable following the Closing at such time as Seller or its Subsidiary
would have made such payments (for example, if the Closing takes place on September 30, 2015, and a 13th month payment would have
been paid on December 31, 2015, then Acquiror will make such payment on December 31, 2015) in accordance with Seller&rsquo;s applicable
policies (in each instance regardless of the applicable Transferred Employee&rsquo;s employment status on the relevant payment
date and irrespective of whether applicable Law requires such payment(s)).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>5.05&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Credit
for Service with Seller</U></I></B>. Where applicable, Acquiror and its Affiliates will provide credit for each Transferred Employee&rsquo;s
length of service with Seller and its Affiliates for all purposes (including eligibility, vesting and benefit accrual) under (a)&nbsp;each
plan, program, policy or arrangement of Acquiror and its Affiliates to the same extent such service was recognized under a similar
plan, program, policy or arrangement of Seller or any of its Affiliates, and (b)&nbsp;applicable Law in each case, except that
such prior service credit will not be required to the extent that it results in a duplication of benefits provided by Seller (including
any duplication of benefits under a defined benefit pension plan).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>5.06&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Miscellaneous</U></I></B>.
(a) Following the date of this Agreement, Seller (and its Subsidiaries) and Acquiror (and its Subsidiaries) will reasonably cooperate
and use good faith efforts in all matters reasonably necessary to effect the transactions contemplated by this <U>Article&nbsp;V</U>,
including (i)&nbsp;exchanging information and data, including (A)&nbsp;reports prepared in connection with bonus plan participation
and related data of Transferred Employees and all other information reasonably necessary for Seller or Acquiror to comply with
the covenants contained in this <U>Article&nbsp;V</U> other than the information related to performance ratings or assessment of
Transferred Employees (including performance history reports) and (B)&nbsp;information relating to employee benefits and employee
benefit plan coverages (in each case, except to the extent prohibited by applicable Law or to the extent that such information
and data relates to performance ratings or assessments or employees of Seller and its Subsidiaries), (ii)&nbsp;making any and all
required filings and notices, (iii)&nbsp;making any and all required communications with Transferred Employees, and (iv)&nbsp;obtaining
any Governmental Approvals required hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Between
the date hereof and the Closing Date, any communications between Acquiror and any employees of Seller and its Affiliates regarding
terms of employment, employee benefits or otherwise regarding employment with Acquiror will be conducted at the times and through
processes approved by Seller, such approval not to be unreasonably withheld. Such processes will provide adequate access to the
Transferred Employees and allow all reasonable means of communication with such employees by Acquiror and its Subsidiaries; <U>provided</U>,
<U>however</U>, that any communications with Transferred Employees or any other employees of Seller or its Affiliates will be limited
to employee benefit matters relating to Transferred Employees, future organization design and staffing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Without
limiting Acquiror&rsquo;s obligations under this <U>Article V</U> with respect to the Transferred Employees, this <U>Article&nbsp;V</U>
will not (i) constitute or be treated as an amendment of, or undertaking to amend any employee benefit plan in which Seller&rsquo;s
or any of its Affiliates&rsquo;, or Acquiror&rsquo;s or any of its Subsidiaries&rsquo;, employees participate or (ii)&nbsp;prohibit
Acquiror or any of its Subsidiaries from amending any employee benefit plan in which Acquiror&rsquo;s or such Subsidiary&rsquo;s
employees participate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
anything in this Agreement to the contrary (including the provisions of <U>Sections 10.07</U> and <U>10.15</U>), Seller, in its
sole discretion, will have the right to enforce the obligations of any member of the Acquiror Group under this <U>Article&nbsp;V</U>
on behalf of, and for the benefit of, any Transferred Employee (other than in the case of a termination of employment by Acquiror
or its Subsidiaries of a Transferred Employee for Cause, which will be final and binding and not subject to challenge by Seller);
<U>provided</U>, <U>however</U>, that with respect to any such enforcement, Seller must first (i)&nbsp;within 90&nbsp;days following
Seller&rsquo;s actual knowledge of the condition giving rise to Seller&rsquo;s enforcement action, deliver to Acquiror a written
explanation specifying the relevant portion of this <U>Article&nbsp;V</U> that is the basis for such enforcement action and (ii)&nbsp;give
Acquiror an opportunity to cure such condition within 30&nbsp;days following delivery of such explanation; and <U>provided</U>,
<U>further</U>, that in no event will Seller have any rights under this <U>Section 5.06(d)</U> relating to any alleged breach by
Acquiror of its obligations under this <U>Article&nbsp;V</U> if the alleged failure to meet such obligations results from Seller&rsquo;s
failure to provide information reasonably necessary to satisfy Acquiror&rsquo;s obligations. Each member of the Acquiror Group
acknowledges and agrees that the remedies at law for a breach or threatened breach of any of the provisions of this <U>Article
V</U> may be inadequate and Seller, its Affiliates and the applicable Transferred Employee(s) may suffer irreparable damages as
a result of such breach or threatened breach. In recognition of this fact, Acquiror agrees on behalf of each member of the Acquiror
Group that, in the event of such a breach or threatened breach by any member of the Acquiror Group, in addition to any remedies
at Law, Seller, without posting any bond, will be entitled to equitable relief in the form of specific performance, a temporary
restraining order, a temporary or permanent injunction or any other equitable remedy which may then be available.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center; text-indent: 0in">VI.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CONDITIONS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>6.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Joint
Conditions</U></I></B>. The respective obligation of Seller and Acquiror to consummate the Closing is subject to the satisfaction
or waiver of the following conditions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;no
preliminary or permanent injunction or other Order shall have been issued that would make unlawful the consummation of the transactions
contemplated hereby; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;no
employee of Parfums Rochas SAS has made an offer to Seller or an Obligee to purchase the Rochas Business in France within the two-month
period following receipt of the information notice delivered to each of them in accordance with Article L. 141-23 of the French
Commercial Code, <U>provided that</U> this condition precedent shall be deemed satisfied prior to the end of the abovementioned
two-month period upon receipt by Parfums Rochas SAS of written notification by each employee required to be informed pursuant to
Article L. 141-23 of the French Commercial Code that he/she has waived his/her right to make a purchase offer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>6.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Conditions
to the Obligation of Acquiror</U></I></B>. The obligation of Acquiror to consummate the Closing is subject to the satisfaction
of each of the following conditions (each of which is for the exclusive benefit of Acquiror and may be waived by Acquiror unless
otherwise provided in this Agreement):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all
covenants of Seller under this Agreement and the Ancillary Agreements to be performed on or before the Closing shall have been
duly performed by Seller in all material respects;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)
the representations and warranties of Seller in this Agreement (other than the representations and warranties in <U>Section 2.09(b)</U>),
which for purposes of this clause (i) will be read as though none of them contained any materiality or &ldquo;Rochas Business MAE&rdquo;
qualifications (but not disregarding limitations of representations to Rochas Material Contracts), shall be true and correct in
all respects as of the Closing with the same effect as if made at and as of the Closing (except that any representation and warranty
in any Section that is specifically and expressly made as of a date other than the date of this Agreement shall be true and correct
in all respects as of the specified date), except where the failure of the representations and warranties to be true and correct
in all respects would not in the aggregate have a Rochas Business MAE, and (ii) the representations and warranties of Seller in
<U>Section 2.09(b)</U> shall be true and correct in all respects as of the Closing with the same effect as if made at and as of
the Closing; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acquiror
shall have received a certificate of Seller addressed to Acquiror and dated the Closing Date, signed on behalf of Seller by an
officer of Seller (on Seller&rsquo;s behalf and without personal liability), confirming the matters set forth in <U>Section 6.02(a)</U>
and <U>Section 6.02(b)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>6.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Conditions
to the Obligation of Seller</U></I></B><I>. </I>The obligation of Seller to consummate the Closing is subject to the satisfaction
of each of the following conditions (each of which is for the exclusive benefit of Seller and may be waived by Seller unless otherwise
provided in this Agreement):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;all
covenants of Acquiror under this Agreement and the Ancillary Agreements to be performed on or before the Closing Date shall have
been duly performed by Acquiror in all material respects;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
representations and warranties of Acquiror in this Agreement (which for purposes of this paragraph will be read as though none
of them contained any materiality or Acquiror MAE qualifications) shall be true and correct in all respects as of the Closing with
the same effect as if made at and as of the Closing (except that any representation and warranty in any Section that is made as
of a date other than the date of this Agreement shall be true and correct in all respects as of the specified date), except where
the failure of the representations and warranties to be true and correct in all respects would not have in the aggregate an Acquiror
MAE; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Seller
shall have received a certificate of Acquiror addressed to Seller and dated the Closing Date, signed on behalf of Acquiror by an
officer of Acquiror (on Acquiror&rsquo;s behalf and without personal liability), confirming the matters set forth in <U>Section
6.03(a)</U> and <U>Section 6.03(b)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>6.04&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Frustration
of Conditions</U></I></B>. Neither the Seller nor Acquiror may rely on the failure of any condition set forth in <U>Section 6.01</U>,
<U>Section 6.02</U> or <U>Section 6.03</U>, as the case may be, to be satisfied to excuse it from its obligation to effect the
Transaction if such failure was caused by such Party&rsquo;s breach of its obligations under this Agreement.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center; text-indent: 0in">VII.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TERMINATION
AND ABANDONMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>7.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Basis
for Termination</U></I></B>. This Agreement may be terminated and the transactions contemplated hereby abandoned at any time prior
to the Closing Date:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;by
mutual written consent of Seller and Acquiror;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;by
either Seller or Acquiror:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if
the Closing does not occur on or prior to June 30, 2015 (the &ldquo;<U>End Date</U>&rdquo;), unless the failure of the Closing
to occur by such date is due to the failure of the Party seeking to terminate this Agreement to perform or observe in all material
respects the covenants of such Party set forth herein; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if
(A)&nbsp;there is any Law that makes consummation of the transactions hereunder illegal or otherwise prohibited (other than those
having only an immaterial effect and that do not impose criminal liability or penalties) or (B)&nbsp;any Governmental Authority
having competent jurisdiction has issued an Order or taken any other action (which the terminating Party must have complied with
its obligations hereunder to resist, resolve or lift) permanently restraining, enjoining or otherwise prohibiting any material
component of the transactions contemplated hereunder, and such Order or other action becomes final and non-appealable;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;by
Seller:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if
Acquiror breaches any of its representations and warranties or covenants contained in this Agreement, which breach (A) would give
rise to the failure of a condition set forth in <U>Section 6.01</U> or <U>Section 6.03</U> and (B) cannot be or has not been cured
within 60&nbsp;days after the giving of written notice to Acquiror of such breach (or, if earlier, the End Date);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if
any of the conditions set forth in <U>Section 6.01</U> or <U>Section</U> <U>6.03</U> becomes incapable of fulfillment, and has
not been waived by Seller to the extent waivable; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;by
Acquiror:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if
Seller breaches any of its representations and warranties or covenants contained in this Agreement, which breach (A)&nbsp;would
give rise to the failure of a condition set forth in <U>Section 6.01</U> or <U>Section 6.02</U> and (B)&nbsp;cannot be or has not
been cured within 60&nbsp;days after the giving of written notice to Seller of such breach (or, if earlier, the End Date); or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if
any of the conditions set forth in <U>Section 6.01</U> or <U>6.02</U> becomes incapable of fulfillment, and has not been waived
by Acquiror to the extent waivable;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><U>provided</U>, <U>however</U>, that the Party seeking termination
pursuant to clause (c)(i), (c)(ii), (d)(i) or (d)(ii) is not in material breach of any of its representations, warranties or covenants
contained in this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>7.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Notice
of Termination; Return of Documents; Continuing Confidentiality Obligation</U></I></B>. In the event of a termination of this Agreement
by Seller or Acquiror pursuant to this <U>Article&nbsp;VII</U>, written notice thereof will be given to the other Party and the
transactions contemplated by this Agreement and the Ancillary Agreements will terminate, without further action by any Party. If
the transactions contemplated by this Agreement and the Ancillary Agreements are terminated as provided herein, (a)&nbsp;Acquiror
will return to Seller or destroy all documents and copies and other material received from Seller and its Subsidiaries and its
and their Representatives relating to the transactions contemplated hereby and by the Ancillary Agreements, whether so obtained
before or after the execution hereof, (b)&nbsp;Seller will return to Acquiror or destroy all documents and copies and other material
received from Acquiror and its Subsidiaries and its and their Representatives relating to the transactions contemplated hereby
and by the Ancillary Agreements, whether so obtained before or after the execution hereof, and (c)&nbsp;notwithstanding anything
herein to the contrary, the Confidentiality Agreement will be deemed to be reinstated and will be deemed to apply as if it had
not originally been terminated pursuant to <U>Section 10.03</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>7.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Effect
of Termination</U></I></B>. If this Agreement is duly terminated and the transactions contemplated hereby are abandoned as described
in this <U>Article&nbsp;VII</U>, this Agreement will become void and of no further force and effect, except for the provisions
of <U>Section 4.03</U> relating to publicity, <U>Section 7.02</U>, this <U>Section 7.03</U>, <U>Article&nbsp;X</U> and <U>Article
XI</U> containing general provisions and definitions, respectively, except that nothing in this <U>Article&nbsp;VII</U> will be
deemed to release any Party from any Liability for any breach<B> </B>by such Party of the terms and provisions of this Agreement
prior to such termination or to impair the right of any Party to compel specific performance by another Party of its obligations
under this Agreement that specifically survive such termination as set forth in the immediately preceding sentence.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center; text-indent: 0in">VIII.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;INDEMNIFICATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>8.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Indemnification
by Acquiror</U></I></B>. Without limiting or otherwise affecting the indemnity provisions of any Ancillary Agreement, but subject
to the limitations set forth in this <U>Article VIII</U>, from and after the Closing Date, Acquiror will indemnify, defend (or,
where applicable, pay the defense costs for) and hold harmless the Seller Indemnitees from and against any and all Losses that
result from or arise out of, whether prior to or following the Closing, any of the following items (without duplication):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
Assumed Liability, including the failure of Acquiror, any other member of the Acquiror Group or any other Person to pay, perform,
fulfill, discharge and, to the extent applicable, comply with, in due course and in full, any such Assumed Liability;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
breach by Acquiror or any other member of the Acquiror Group of any covenant to be performed by such Persons pursuant to this Agreement
or any Ancillary Agreement at or after the Closing; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
breach of any of the representations and warranties contained in <U>Article&nbsp;III</U> of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>8.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Indemnification
by Seller</U></I></B>. Without limiting or otherwise affecting the indemnity provisions of any Ancillary Agreement but subject
to the limitations set forth in this <U>Article VIII</U>, from and after the Closing, Seller will indemnify, defend (or, where
applicable, pay the defense costs for) and hold harmless the Acquiror Indemnitees from and against any and all Losses that result
from, relate to or arise out of, whether prior to or following the Closing, any of the following items (without duplication):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
Excluded Liability, including the failure of Seller or any other member of the Seller Group or any other Person to pay, perform,
fulfill, discharge and, to the extent applicable, comply with, in due course and in full, such Excluded Liabilities;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
breach by Seller or any other member of the Seller Group of any covenant to be performed by such Persons pursuant to this Agreement
or any Ancillary Agreement at or after the Closing; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;any
breach of any of the representations and warranties of Seller contained in <U>Article&nbsp;II</U> of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>8.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Calculation
and Other Provisions Relating to Indemnity Payments</U></I></B>. (a) <U>Insurance</U>. The amount of any Loss for which indemnification
is provided under this <U>Article&nbsp;VIII</U> will be net of any amounts actually recovered by the Indemnitee or its Affiliates
under third-party, non-captive insurance policies with respect to such Loss (less the cost to collect the proceeds of such insurance).
If any Loss resulting in indemnification under <U>Section 8.01(c)</U> or <U>8.02(c)</U> relates to a claim by an Indemnitee or
its Affiliates that is covered by one or more third-party, non-captive insurance policies held by the Indemnitee or its Affiliates,
the Indemnitee will use and will cause its Affiliates to use Commercially Reasonable Efforts to pursue claims against the applicable
insurers for coverage of such Loss under such policies. Any indemnity payment hereunder will initially be made without regard to
this <U>Section 8.03(a)</U>, and if the Indemnitee or its Affiliates actually receive a full or partial recovery under such insurance
policies following payment of indemnification by the Indemnifying Party in respect of such Loss, then the Indemnitee will refund
amounts received from the Indemnifying Party up to the amount of indemnification actually received from the Indemnifying Party
with respect to such Loss (less the cost to collect the proceeds of such insurance).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Taxes</U>.
The amount that any Indemnifying Party is or may be required to provide indemnification to or on behalf of any Indemnitee pursuant
to this Agreement (including under <U>Section 9.04</U>) will be:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;decreased
to offset any Tax benefit realized by the Indemnitee (or an Affiliate thereof) arising from the incurrence or payment of the relevant
indemnified item; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;increased
to offset any Tax amount that would be due by the Indemnitee (or an Affiliate thereof) by reason of a payment pursuant to <U>Section
8</U>, provided that the Indemnitee shall use its best endeavors to mitigate such Tax amount to the extent permitted by applicable
Law<FONT STYLE="font-family: Times New Roman, Times, Serif">.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>8.04&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Procedures
for Defense, Settlement and Indemnification of Claims</U></I></B>. (a)<U> Direct Claims</U>. All claims made hereunder by (i)&nbsp;any
member of the Seller Group, on the one hand, against Acquiror or any member of the Acquiror Group, on the other hand, or (ii)&nbsp;by
any member of the Acquiror Group, on the one hand, against Seller or any member of the Seller Group, on the other hand (collectively,
<U>&ldquo;Direct Claims</U>&rdquo;), will be subject to the limitations and dispute resolution procedures set forth in<U> Section
10.15</U>. If an Indemnitee receives notice or otherwise learns of any matter that may be the subject of a Direct Claim, such Indemnitee
will give the Indemnifying Party prompt written notice thereof but in any event within 15 days after receiving such notice or otherwise
learning of such matter. Any such notice will describe the matter in reasonable detail, stating the nature, basis for indemnification
and the amount thereof, to the extent known, along with copies of any relevant documents evidencing such matter. Notwithstanding
the foregoing, the delay or failure of any Indemnitee or other Person to give notice as provided in this<U> Section 8.04(a)</U>
will not relieve the Indemnifying Party of its obligations under this<U> Article VIII</U>, except to the extent that such Indemnifying
Party is prejudiced by such delay or failure to give notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Third-Party
Claims</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Notice
of Claims</U>. If an Indemnitee receives notice or otherwise learns of the assertion by a Person (including any Governmental Authority)
which is not a member of the Seller Group or the Acquiror Group of any claim or of the commencement by any such Person of any Action
with respect to which an Indemnifying Party may be obligated to provide indemnification (collectively, a &ldquo;<U>Third-Party
Claim</U>&rdquo;), such Indemnitee will give such Indemnifying Party prompt written notice (a &ldquo;<U>Claims Notice</U>&rdquo;)
thereof but in any event within 15&nbsp;days after becoming aware of such Third-Party Claim. Any such notice will describe the
Third-Party Claim in reasonable detail, stating the nature, basis for indemnification and the amount thereof, to the extent known,
along with copies of any relevant documents evidencing such Third-Party Claim. Notwithstanding the foregoing, the delay or failure
of any Indemnitee or other Person to give notice as provided in this <U>Section 8.04(b)(i)</U> will not relieve the Indemnifying
Party of its obligations under this <U>Article&nbsp;VIII</U>, except to the extent that such Indemnifying Party is prejudiced by
such delay or failure to give notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 1in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Opportunity
to Defend</U>. The Indemnifying Party has the right, exercisable by written notice to the Indemnitee within 180&nbsp;days after
receipt of a Claims Notice from the Indemnitee of the commencement or assertion of any Third-Party Claim in respect of which indemnity
may be sought under this <U>Article&nbsp;VIII</U>, to assume and conduct the defense of such Third-Party Claim in accordance with
the limits set forth in this Agreement with counsel selected by the Indemnifying Party and reasonably acceptable to the Indemnitee;
<U>provided</U>, <U>however</U>, that (A)&nbsp;the Third-Party Claim does not relate to or arise in connection with any criminal
proceeding, action, indictment, allegation or investigation, (B)&nbsp;the Third-Party Claim solely seeks (and continues to seek)
monetary damages and/or equitable or corrective relief (with or without monetary damages, fines or penalties) which equitable relief
would not reasonably be expected to adversely affect the operations of (1)&nbsp;Seller or its Affiliates, if Acquiror is the Indemnifying
Party, or (2)&nbsp;Acquiror or its Affiliates, if Seller is the Indemnifying Party, and (C)&nbsp;the Indemnifying Party expressly
agrees with the Indemnitee in writing to be fully responsible for all of the Losses that arise from the Third-Party Claim and the
counsel selected by the Indemnifying Party is reasonably satisfactory to the Indemnitee, subject to the limitations thereon set
forth in this <U>Article VIII</U> (the conditions set forth in clauses&nbsp;(A) through (C) are, collectively, the &ldquo;<U>Litigation
Conditions</U>&rdquo;). For purposes of clause&nbsp;(C) of the preceding sentence, if a Third-Party Claim consists of multiple
claims by a plaintiff or group of plaintiffs, and it is reasonably practicable for an Indemnifying Party to control the defense
of a subset of such claims, the Indemnifying Party may elect to agree to be fully responsible subject to the limitations thereon
set forth in this <U>Article VIII</U>, for only all of the Losses that arise from such subset of claims, and may elect to control
the defense of only such subset of claims; <U>provided</U>, that the other Litigation Conditions set forth in clauses&nbsp;(A),
(B) and (C) of the preceding sentence are satisfied. If the Indemnifying Party does not assume the defense of a Third-Party Claim
in accordance with this <U>Section 8.04(b)</U>, the Indemnitee may continue to defend the Third-Party Claim. If the Indemnifying
Party has assumed the defense of a Third-Party Claim as provided in this <U>Section 8.04(b)</U>, the Indemnifying Party will not
be liable for any legal expenses subsequently incurred by the Indemnitee in connection with the defense of the Third-Party Claim;
<U>provided</U>, <U>however</U>, that if (x)&nbsp;any of the Litigation Conditions ceases to be met, (y)&nbsp;the Indemnifying
Party fails to take reasonable steps necessary to defend diligently such Third-Party Claim, or (z)&nbsp;in the reasonable judgment
of the Indemnitee based on the advice of counsel, there exists an actual or potential conflict of interest between the Indemnifying
Party and the Indemnitee with respect to such Third-Party Claim, the Indemnitee may assume its own defense, and the Indemnifying
Party will be liable for all reasonable costs or expenses thereafter incurred in connection with such defense to the extent otherwise
provided under this <U>Article VIII</U>. The Indemnifying Party or the Indemnitee, as the case may be, has the right to participate
in (but, subject to the prior sentence, not control), at its own expense, the defense of any Third-Party Claim that the other is
defending as provided in this Agreement. The Indemnifying Party, if it has assumed the defense of any Third-Party Claim as provided
in this Agreement, may not, without the prior written consent of the Indemnitee, consent to a settlement of, or the entry of any
judgment arising from, any such Third-Party Claim unless such settlement or judgment includes as an unconditional term thereof
the giving by the claimant or the plaintiff to the Indemnitee of a complete release from all liability in respect of such Third-Party
Claim and unless such settlement or judgment does not impose injunctive or other non-monetary equitable relief against the Indemnitee
or its Affiliates, or their respective businesses. The Indemnitee has the right to settle any Third-Party Claim, the defense of
which has not been assumed by the Indemnifying Party, with the prior written consent of the Indemnifying Party, not to be unreasonably
withheld, conditioned or delayed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Without
limiting any provision of this <U>Section 8.04</U>, each of the Parties will reasonably cooperate, and will cause each of its respective
Affiliates to reasonably cooperate, with each other in the defense of any claim that the Rochas Business infringes Intellectual
Property of any third Person, and no Party will knowingly acknowledge, or permit any member of its respective Group to acknowledge,
the validity or infringing use of any Intellectual Property of a third Person in a manner as to which such Party has actual knowledge
that so doing will be materially inconsistent with the defense of such infringement, validity or similar claim or challenge except
as required by Law. For the avoidance of doubt, nothing herein will preclude truthful testimony by any Party or any of its representatives
or employees, and such truthful testimony will not be deemed a breach hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event Acquiror promptly notifies Seller in writing that Seller or one of its Affiliates has challenged or called into question
the validity of any Intellectual Property of the Rochas Business, Seller will, and will cause its Affiliates to, withdraw or cause
such challenge to be withdrawn within five Business Days following receipt of such written notice from Acquiror.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
the avoidance of doubt, this <U>Section 8.04</U> will not apply to any claim related to Tax matters, which will be governed exclusively
by <U>Article&nbsp;IX</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>8.05&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Additional
Matters</U></I></B>. (a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Cooperation in Defense and Settlement</U>. With
respect to any Third-Party Claim for which Acquiror, on the one hand, and Seller, on the other hand, may have Liability under
this Agreement or any of the Ancillary Agreements, the Parties agree to cooperate fully and maintain a joint defense (in a manner
that will preserve the attorney-client privilege, joint defense or other privilege with respect thereto) so as to minimize such
Liabilities and defense costs associated therewith. The Party that is not responsible for managing the defense of such Third-Party
Claims will, upon its reasonable request, be consulted with respect to strategy and development of the Action, including significant
matters relating thereto, and may retain counsel to monitor or assist in the defense of such claims at its own cost.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Certain
Actions</U>. Notwithstanding anything to the contrary set forth in this <U>Article VIII</U>, Seller may elect to have exclusive
authority and control over the investigation, prosecution, defense and appeal of any and all Actions pending at the Closing which
relate to or arise out of the Rochas Business, the Acquired Assets or the Assumed Liabilities and as to which a member of the Seller
Group is also a plaintiff or named as a target or defendant thereunder (but excluding any such Actions which solely relate to or
solely arise in connection with the Rochas Business, the Acquired Assets or the Assumed Liabilities); <U>provided</U>, <U>however</U>,
that, (i)&nbsp;Seller will defend or prosecute, as applicable, such Actions in good faith, (ii)&nbsp;Seller will reasonably consult
with Acquiror on a regular basis with respect to strategy and developments with respect to any such Action and make reasonable
efforts to take into account into account its comments, (iii)&nbsp;Acquiror will have the right to participate in (but not control)
the defense or prosecution, as applicable, of such Action, and (iv)&nbsp;Seller must obtain the written consent of Acquiror, such
consent not to be unreasonably withheld, conditioned or delayed, to settle or compromise or consent to the entry of judgment with
respect to such Action if Seller is a defendant and such settlement, consent or judgment would require Acquiror to abandon its
rights, change its business practices or incur any Liabilities with respect thereto or if Seller is a plaintiff and the resolution
involves a judgment that is less than was being sought as of the Closing Date in respect of the Rochas Business. After any such
compromise, settlement, consent to entry of judgment or entry of judgment, Seller and Acquiror will agree upon a reasonable allocation
to Acquiror, if any, and Acquiror will be responsible for or receive, as the case may be, Acquiror&rsquo;s proportionate share
of any such compromise, settlement, consent or judgment attributable to the Rochas Business, the Acquired Assets or the Assumed
Liabilities, including its proportionate share of the reasonable costs and expenses associated with defending same, and in all
cases without prejudice to the provisions of <U>Section 8.02</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Mitigation</U>.
The Indemnitee will make Commercially Reasonable Efforts to mitigate any Losses and will not be entitled to indemnification hereunder
to the extent that the amount of such Loss exceeds the minimum necessary remediation, correction or amelioration to remedy the
breach or Liability, as the case may be, at the lowest reasonable cost.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Substitution</U>.
In the event of an Action that involves solely matters that are indemnifiable and in which the Indemnifying Party is not a named
defendant, if either the Indemnitee or the Indemnifying Party so requests, the Parties will endeavor to substitute the Indemnifying
Party for the named defendant. If such substitution or addition cannot be achieved for any reason or is not requested, the rights
and obligations of the Parties regarding indemnification and the management of the defense of claims as set forth in this <U>Article&nbsp;VIII</U>
will not be affected.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Subrogation</U>.
In the event of payment by or on behalf of any Indemnifying Party to or on behalf of any Indemnitee in connection with any Third-Party
Claim, such Indemnifying Party will be subrogated to and will stand in the place of such Indemnitee, in whole or in part based
upon whether the Indemnifying Party has paid all or only part of the Indemnitee&rsquo;s Liability, as to any events or circumstances
in respect of which such Indemnitee may have any right, defense or claim relating to such Third-Party Claim against any claimant
or plaintiff asserting such Third-Party Claim or against any other Person. Such Indemnitee will cooperate with such Indemnifying
Party in a reasonable manner, and at the cost and expense of such Indemnifying Party, in prosecuting any subrogated right, defense
or claim.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>8.06&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Exclusive
Remedy</U></I></B>. (a) From and after the Closing, the sole and exclusive remedy of a Party with respect to any and all claims
relating to this Agreement, the Rochas Business, the Acquired Assets, the Assumed Liabilities, the Excluded Liabilities, or the
transactions contemplated by this Agreement (other than claims of, or causes of action arising from, common law fraud and except
for seeking specific performance or other equitable relief to require a Party to perform its obligations under this Agreement to
the extent permitted hereunder and thereunder and except as otherwise provided herein or in any Ancillary Agreement) will be pursuant
to the indemnification provisions set forth in this <U>Article&nbsp;VIII</U> or, in the case of indemnification for Taxes, <U>Article&nbsp;IX</U>.
In furtherance of the foregoing, each Party hereby waives, from and after the Closing, any and all rights, claims and causes of
action (other than pursuant to the indemnification provisions set forth in this <U>Article&nbsp;VIII</U> and <U>Article&nbsp;IX</U>
and other than claims of, or causes of action arising from, knowing and intentional fraud and except for seeking specific performance
or other equitable relief to require a Party to perform its obligations under this Agreement to the extent permitted hereunder
and except as otherwise provided in any Ancillary Agreement) that such Party or its Affiliates may have against the other Party
or any of its Affiliates, or their respective directors, officers and employees, arising under or based upon any applicable Laws
and arising out of the transactions contemplated by this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
any other provision hereof, from and after the Closing, the sole and exclusive remedy for Acquiror with respect to any and all
claims relating to the representations and warranties in <U>Section 2.13(a)</U>, including breaches thereof or inaccuracies therein,
will be for Seller to provide Acquiror with access in perpetuity to the relevant Asset in a manner consistent with the manner in
which such Asset was previously made available to the Rochas Business immediately prior to the Closing at no additional cost to
Acquiror, provided that notwithstanding the foregoing Seller shall be liable for Acquiror&rsquo;s Losses in respect of such breaches
thereof or inaccuracies therein in the event that Seller is unable to so provide Acquiror with access to such Acquired Assets as
required by this Agreement (including the foregoing).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>8.07&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Limitations
on Indemnification</U></I></B>. (a) Notwithstanding anything in this Agreement to the contrary, if the Closing occurs, (i)&nbsp;Seller
will not have any liability under <U>Section 8.02(c)</U> (other than with respect to a breach of <U>Sections 2.01 </U>(Organization),
<U>2.02</U>&nbsp;(Authorization), <U>2.11</U>&nbsp;(Brokers), and <U>2.12</U>&nbsp;(Title) (collectively, the &ldquo;<U>Seller
Specified Representations</U>&rdquo;)) unless the aggregate liability for Losses suffered by the Acquiror Indemnitees thereunder
exceeds $1.08 million (the &ldquo;<U>Deductible</U>&rdquo;), and then only to the extent of such excess, (ii)&nbsp;Seller&rsquo;s
aggregate liability under <U>Section 8.02(c)</U> (other than with respect to a breach of any of the Seller Specified Representations)
will not exceed $5.4 million (the &ldquo;<U>Cap</U>&rdquo;), (iii)&nbsp;(A)&nbsp;Acquiror will not have any liability under <U>Section
8.01(c)</U> (other than with respect to a breach of <U>Sections 3.01 </U>(Organization), <U>3.02</U>&nbsp;(Authorization), <U>3.04</U>&nbsp;(Brokers)
and <U>3.05</U> (Financing) (collectively, the &ldquo;<U>Acquiror Specified Representations</U>&rdquo;)) unless the aggregate liability
for Losses suffered by the Seller Indemnitees thereunder exceeds the Deductible, and then only to the extent of such excess, and
(B)&nbsp;Acquiror&rsquo;s aggregate liability under <U>Section 8.01(c)</U> (other than with respect to a breach of any of the Acquiror
Specified Representations) will not exceed the Cap, and (iv) no Party will have any liability under <U>Section 8.01(c)</U> or <U>8.02(c)</U>,
as applicable, for any Loss arising out of any individual claim (or any series of claims arising out of substantially the same
events, facts or circumstances, which will be aggregated for purposes of this clause (iv)), unless such Loss exceeds $100,000,
and any Losses that are disregarded pursuant to this clause (iv) will not be aggregated for purposes of the preceding clauses (i)
through (iii). This <U>Section 8.07</U> will not apply to indemnification for Taxes, which will be governed exclusively by <U>Article&nbsp;IX</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
purposes of <U>Sections 8.01(c)</U> and <U>8.02(c)</U>, any qualification in any such representation or warranty as to materiality,
Rochas Business MAE or Acquiror MAE will be taken into account for purposes of determining whether such representation or warranty
has been breached, but in the event that such representation or warranty has been determined to have been breached, such qualification
as to materiality, Rochas Business MAE or Acquiror MAE will thereafter be disregarded for purposes of determining the amount of
Losses arising from such breach and the applicable Indemnitee may recover the entire amount of such Losses subject to the limitations
set forth in this <U>Article&nbsp;VIII</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
any other provision hereof in no event will any Indemnitee be entitled to any double recovery under <U>Section 8.01</U> or <U>Section
8.02.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>8.08&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Tax
Treatment of Indemnification</U></I></B>. For all Tax purposes, Acquiror and Seller agree to treat any indemnity payment under
this Agreement as an adjustment to the purchase price unless, and then solely to the extent that, a Final Determination provides
otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>8.09&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Indemnification
in Case of Strict Liability or Indemnitee Negligence</U></I></B><I><FONT STYLE="font-size: 10pt">.</FONT></I><FONT STYLE="font-size: 10pt">
</FONT>Subject to the limitations in this <U>Article VIII</U>, including <U>Section 8.05(c)</U> and <U>8.07</U>, the indemnification
provisions in this <U>Article VIII</U> shall be enforceable regardless of whether the liability is based upon past, present or
future acts, claims or legal requirements (including any past, present or future bulk sales law, environmental law, fraudulent
transfer act, occupational safety and health law or products liability, securities or other legal requirement) and regardless of
whether any Person (including the Person from whom indemnification is sought) alleges or proves the sole or concurrent strict liability
imposed upon the Person seeking indemnification.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center; text-indent: 0in">IX.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TAX
MATTERS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>9.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Allocation
of Cash Purchase Price</U></I></B>. The allocation of the Cash Purchase Price among the Acquired Assets is set forth on <U>Section
9.01</U> of the Seller Disclosure Letter (the &ldquo;<U>Asset Allocation</U>&rdquo;). Seller and Acquiror will not, and will cause
their respective Affiliates not to, take a position in any forum that is inconsistent with the details set forth on the Asset Allocation,
including taking an inconsistent position on any Tax Return, before any Taxing Authority, or in any action relating to any Tax,
except as required by Law. Seller and Acquiror will file all federal, state, local and foreign Tax Returns in accordance with the
Asset Allocation of the Seller Disclosure Letter. Seller and Acquiror will provide each other promptly (and no later than 90 days
following the Closing Date) with any additional information necessary to complete any such filings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>9.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Transfer
Taxes</U></I></B>. Acquiror will pay, and be responsible for, 100% of all Transfer Taxes. Any Tax Return required to be filed with
respect to any such Transfer Taxes will be filed by the Person primarily responsible for such filing under applicable Law; <U>provided</U>,
that such Party will deliver a draft of any such Tax Return to the other Party at least 15&nbsp;days prior to the due date for
the filing of any such Tax Return (taking into account any applicable extensions) and any additional information relating thereto
that the other Party may reasonably request, and will reflect on the applicable Tax Return any reasonable comments submitted by
such other Party at least five days prior to the applicable due date. The Parties will reasonably cooperate in obtaining any available
exemptions or refunds with respect to Transfer Taxes. In any event, Acquiror will indemnify and hold harmless Seller from any cost
arising from a failure by Acquiror to pay Transfer Taxes in a timely manner.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>9.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>VAT</U></I></B>.
Pursuant to Article 257 bis of the French Tax Code (<I>Code g&eacute;n&eacute;ral des imp&ocirc;ts</I>), as interpreted by the
French tax authorities (administrative guidelines BOI-TVA-CHAMP-10-10-50-10-20121001), the sale of the Acquired Assets leads to
a transfer of a totality of assets and shall not give rise to the payment of any VAT. To this end, the Acquiror and Seller each
declare to be subject and liable to VAT in France as at the date of this Agreement. Acquiror and Seller shall mention the total
amount of the Acquired Assets (excluding VAT) on their respective VAT returns (on line &ldquo;other non-taxable operations&rdquo;)
filed in respect of the period during which the sale is effective. Under Article 242 nonies A of Annex II to the French Tax Code
(<I>Code g&eacute;n&eacute;ral des imp&ocirc;ts</I>), Seller shall provide an invoice to Acquiror for the Acquired Assets. Notwithstanding
the above, any VAT which would become payable by the Seller in relation to the transactions contemplated by this Agreement shall
be borne by Acquiror and paid to Seller no later than ten days from receipt of an invoice from Seller.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>9.04&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Registration
in France</U></I></B>. The Acquiror will register this deed under the conditions and within the time periods provided for by Article
201 of the French Tax Code to the competent authority and proceed to the payment of registration duties due under Article 719 of
the French Tax Code. All registration duties, stamp and other fees or taxes paid for publications or filings to be made in connection
with this transaction will be borne by the Acquiror (for clarity this does not include Taxes payable with respect to income of
Seller or its Affiliates). In the event that Seller or its Subsidiaries would have to pay such duties or taxes, they would be reimbursed
by the Acquiror promptly.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>9.05&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Statement
of Fairness</U></I></B>. In accordance with Article 850 of the French Tax Code, the Parties state that the purchase price (including
the Cash Purchase Price, the Estimated Cash Purchase Price and the Final Cash Purchase Price) indicated in this Agreement is the
full amount of the price to be paid by Acquiror to Seller in consideration for the transactions contemplated by this Agreement,
in the knowledge that if such statement is untrue the penalties provided for in Article 1837 of the French Tax Code shall apply.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>9.06&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Miscellaneous</U></I></B>.
Each Party will provide the other with such information, records and other assistance, and make such of its officers, directors,
employees and agents available, as may reasonably be requested by the other Party in connection with any Tax matter under this<U>
Article&nbsp;IX</U>, including the preparation of any Tax Return and the conduct of any Tax claim; <U>provided</U> that Acquiror
will not be permitted to inspect or otherwise review any Consolidated Tax Return.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center; text-indent: 0in">X.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MISCELLANEOUS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>10.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Survival
of Representations and Warranties</U></I></B>. The representations and warranties of Seller contained in this Agreement (other
than the Seller Specified Representations) will survive the Closing until the date that is 12 months after the Closing Date. The
Seller Specified Representations and the Acquiror Specified Representations will survive the Closing until the date that is the
third anniversary of the Closing. No Party will have any liability or obligation of any nature with respect to any representation
or warranty after the termination thereof as set forth in this <U>Section 10.01</U>, unless a notice of a breach thereof giving
rise to a right of indemnity has been notified pursuant to <U>Section 10.05</U> to the Party against whom such indemnity may be
sought prior to such termination, in which case the noticed claims relating to such breach will survive such termination until
they are finally resolved. Notwithstanding the foregoing, the Tax Representations provided for under Section 2.10 will survive
until 30 days after expiry of the relevant applicable statute of limitations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>10.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Expenses</U></I></B>.
(a) <U>General Rule</U>. Except as otherwise expressly provided in this Agreement, including in <U>Sections 1.10(c)</U>, <U>4.06(e)</U>,
and <U>10.02(b)</U> or any of the Ancillary Agreements, all fees and expenses incurred in connection with the transactions contemplated
hereby and thereby will be paid by the Party incurring such fees or expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Antitrust
Filing Fees</U>. Acquiror will be responsible for and pay any requisite filing fee in respect of any notification submitted pursuant
any Antitrust Laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>10.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Entire
Agreement</U></I></B>. This Agreement and the Ancillary Agreements, including any related annexes, schedules and exhibits, as well
as any other agreements and documents referred to herein and therein, will together constitute the entire agreement between the
Parties with respect to the subject matter hereof and thereof and will supersede all prior negotiations, agreements and understandings
of the Parties of any nature, whether oral or written, with respect to such subject matter, including the Confidentiality Agreement,
which is hereby terminated and of no further force or effect, subject to <U>Section 7.02</U>. If there is a conflict between any
provision of this Agreement and a provision of any Ancillary Agreement, the provision of this Agreement will control unless specifically
provided otherwise in this Agreement or required by applicable public policy rules.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>10.04&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Governing
Law; Jurisdiction; Waiver of Jury Trial</U></I></B>. (a) The validity, interpretation and enforcement of this Agreement will be
governed by the Laws of the State of Delaware without regard to the conflict of Laws provisions thereof that would cause the Laws
of another state to apply.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By
execution and delivery of this Agreement, each Party irrevocably agrees that (i) all disputes arising out or in connection with
this Agreement will be settled under the Rules of Arbitration of the International Chamber of Commerce (&ldquo;<U>ICC Rules</U>&rdquo;)
by three arbitrators appointed in accordance with the said rules, (ii)&nbsp;the seat of the arbitration will be Paris, France.
The language of the arbitration shall be English, provided that the arbitrators will accept documentation or witness evidence in
English or in French, and any award of the arbitration tribunal will be made in writing and will be final and binding on the Parties.
Any award will be enforceable in any court of competent jurisdiction. The Parties undertake to carry out the award without delay.
The Parties further agree that the mailing by certified or registered mail, return receipt requested, of any process required by
the Rules of Arbitration of the International Chamber of Commerce will constitute valid and lawful service of process against each
of them.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>10.05&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Notices</U></I></B>.
All notices, requests, permissions, waivers and other communications hereunder will be in writing and will be deemed to have been
duly given (a)&nbsp;when sent, if sent by facsimile or email during normal business hours (local time) of a Business Day of the
recipient, (b)&nbsp;when delivered, if delivered personally to the intended recipient, and (c)&nbsp;one Business Day following
sending by overnight delivery via an international courier service and, in each case, addressed to a Party at the following address
for such Party:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if
to Seller (or any Obligee):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in"><B>The Procter &amp; Gamble Company</B><BR>
One Procter &amp; Gamble Plaza<BR>
Cincinnati, OH 45202<BR>
Attention: Corporate Secretary<BR>
Attention: Joseph Stegbauer<BR>
Associate General Counsel &ndash; Global Transactions<BR>
Facsimile: (513) 983-7635</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">with a copy to (which will not constitute notice):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in"><B>Jones Day</B><BR>
222 East 41st Street<BR>
New York, NY 10017<BR>
Attention:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Robert A. Profusek</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.73in">Peter E. Izanec</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">Facsimile: (212) 755-7306</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If to Acquiror:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in"><B>Interparfums S.A.</B><BR>
4 rond-point des Champs Elys&eacute;es<BR>
75008 Paris (France)<BR>
Attention: Mr. Philippe Benacin<BR>
Email: pbenacin@interparfums.fr</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">with a copy to (which will not constitute notice):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in"><B>Darrois Villey Maillot Brochier AARPI</B><BR>
69 avenue Victor Hugo<BR>
75016 Paris (France)<BR>
Attention: Me. Pierre Casanova<BR>
Email: pcasanova@darroisvilley.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">Attention: Me. Forrest Alogna<BR>
Email: falogna@darroisvilley.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">or to such other address(es) as may be furnished in writing by any
such Party to the other Party in accordance with the provisions of this <U>Section 10.05</U>. Any notice to Seller will be deemed
notice to all members of the Seller Group, and any notice to Acquiror will be deemed notice to all members of the Acquiror Group.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>10.06&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Amendments
and Waivers</U></I></B>. (a) This Agreement may be amended and any provision of this Agreement may be waived; <U>provided</U>,
<U>however</U>, that any such amendment or waiver will become and remain binding upon a Party only if such amendment or waiver
is set forth in a writing executed by such Party. No course of dealing between or among any Persons having any interest in this
Agreement will be deemed effective to modify, amend or discharge any part of this Agreement or any rights or obligations of any
Party under or by reason of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
delay or failure in exercising any right, power or remedy hereunder will affect or operate as a waiver thereof; nor will any single
or partial exercise thereof or any abandonment or discontinuance of steps to enforce such a right, power or remedy preclude any
further exercise thereof or of any other right, power or remedy. Except and solely to the extent set forth in <U>Section 8.07</U>,
the rights and remedies hereunder are cumulative and not exclusive of any rights or remedies that any Party would otherwise have.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>10.07&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>No
Third-Party Beneficiaries</U></I></B>. This Agreement is solely for the benefit of the Parties and does not confer on third parties
(including any employees of any member of the Seller Group or the Acquiror Group) any remedy, claim, reimbursement, claim of action
or other right in addition to those existing without reference to this Agreement; <U>provided</U><I>, </I><U>however</U><I>, </I>that
this <U>Section 10.07</U> does not limit any rights of Seller pursuant to <U>Section 5.06(d)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>10.08&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Assignability</U></I></B>.
No Party may assign its rights or delegate its duties under this Agreement without the written consent of the other Party, except
that a Party may assign its rights or delegate its duties under this Agreement to a member of its Group, <U>provided</U> that (a)&nbsp;such
Person agrees in writing to be bound by the terms and conditions contained in this Agreement and (b)&nbsp;such assignment or delegation
will not relieve any Party of its indemnification obligations or other obligations under this Agreement. Any attempted assignment
or delegation in contravention of the foregoing will be void.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>10.09&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Construction</U></I></B>.
The descriptive headings herein are inserted for convenience of reference only and are not intended to be a substantive part of
or to affect the meaning or interpretation of this Agreement. Whenever required by the context, any pronoun used in this Agreement
or the Seller Disclosure Letter or Acquiror Disclosure Letter will include the corresponding masculine, feminine or neuter forms,
and the singular forms of nouns, pronouns, and verbs will include the plural and vice versa. Reference to any agreement, document,
or instrument means such agreement, document, or instrument as amended or otherwise modified from time to time in accordance with
the terms thereof, and if applicable, hereof. Unless the context otherwise requires, any references to an &ldquo;Exhibit,&rdquo;
&ldquo;Section&rdquo; or &ldquo;Article&rdquo; will be to an Exhibit, Section or Article to or of this Agreement, and will be deemed
to include any provisions or matters set forth in any corresponding schedule or section of the Acquiror Disclosure Letter or Seller
Disclosure Letter. The use of the words &ldquo;include&rdquo; or &ldquo;including&rdquo; in this Agreement or the Seller Disclosure
Letter or the Acquiror Disclosure Letter will be deemed to be followed by the words &ldquo;without limitation.&rdquo; The use of
the word &ldquo;covenant&rdquo; will mean &ldquo;covenant and agreement.&rdquo; The use of the words &ldquo;or,&rdquo; &ldquo;either&rdquo;
or &ldquo;any&rdquo; will not be exclusive. Days means calendar days unless specified as Business Days. References to statutes
will include all regulations promulgated thereunder, and references to statutes or regulations will be construed to include all
statutory and regulatory provisions consolidating, amending or replacing the statute or regulation as of the date hereof. The Parties
have participated jointly in the negotiation and drafting of this Agreement and the Ancillary Agreements. In the event an ambiguity
or question of intent or interpretation arises, this Agreement will be construed as if drafted jointly by the Parties, and no presumption
or burden of proof will arise favoring or disfavoring any Party by virtue of the authorship of any of the provisions of this Agreement.
Except as otherwise expressly provided elsewhere in this Agreement or any Ancillary Agreement, any provision herein which contemplates
the agreement, approval or consent of, or exercise of any right of, a Party, such Party may give or withhold such agreement, approval
or consent, or exercise such right, in its sole and absolute discretion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>10.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Severability</U></I></B>.
The Parties agree that (a)&nbsp;the provisions of this Agreement will be severable in the event that for any reason whatsoever
any of the provisions hereof are invalid, void or otherwise unenforceable, (b)&nbsp;any such invalid, void or otherwise unenforceable
provisions will be replaced by other provisions which are as similar as possible in terms to such invalid, void or otherwise unenforceable
provisions but are valid and enforceable, and (c)&nbsp;the remaining provisions will remain valid and enforceable to the fullest
extent permitted by applicable Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>10.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Counterparts,
Etc</U></I></B>. This Agreement may be executed in multiple counterparts (any one of which need not contain the signatures of more
than one Party), each of which will be deemed to be an original but all of which taken together will constitute one and the same
agreement and will be effective when counterparts have been signed by each of the Parties and delivered to the other Party. This
Agreement, and any amendments hereto, to the extent signed and delivered by means of a facsimile machine or other electronic transmission,
will be treated in all manner and respects as an original agreement and will be considered to have the same binding legal effects
as if it were the original signed version thereof delivered in person. At the request of any Party, the other Party will re-execute
original forms thereof and deliver them to the requesting Party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>10.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Specific
Performance</U></I></B>. The Parties agree that irreparable damage would occur if any provision of this Agreement was not performed
in accordance with its specific terms or was otherwise breached. It is accordingly agreed, that the Parties will be entitled to
an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the performance of the terms and
provisions of this Agreement without proof of actual damages, this being in addition to any other remedy to which any Party is
entitled at Law or in equity. Each Party further agrees that no other Party or any other Person will be required to obtain, furnish
or post any bond or similar instrument in connection with or as a condition to obtaining any remedy referred to in this <U>Section
10.12</U>, and each Party irrevocably waives any right it may have to require the obtaining, furnishing or posting of any such
bond or similar instrument.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>10.13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Disclosure
Letters</U></I></B>. There may be included in the Seller Disclosure Letter and/or the Acquiror Disclosure Letter items and information
that are not &ldquo;material,&rdquo; and such inclusion will not be deemed to be an acknowledgment or agreement that any such item
or information (or any non-disclosed item or information of comparable or greater significance) is &ldquo;material,&rdquo; or to
affect the interpretation of such term for purposes of this Agreement. Matters reflected in the Seller Disclosure Letter and the
Acquiror Disclosure Letter are not necessarily limited to matters required by this Agreement to be disclosed therein. The Seller
Disclosure Letter and the Acquiror Disclosure Letter set forth items of disclosure with specific reference to the particular Section
or subsection of this Agreement to which the information in the Seller Disclosure Letter or the Acquiror Disclosure Letter, as
applicable, relates; <U>provided</U>, <U>however</U>, that any information set forth in one Section of such disclosure letter will
be deemed to apply to each other Section or subsection thereof to which its relevance is reasonably apparent on its face.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>10.14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Waiver</U></I></B>.
Acquiror acknowledges, on behalf of itself and its Affiliates, that Jones Day has represented, is representing and will continue
to represent Seller in connection with the transactions contemplated by this Agreement and the Ancillary Agreements, and that Jones
Day will only represent the interests of Seller in connection with such transactions. Acquiror waives, on behalf of itself and
its Affiliates, any conflict of interest that it or they may assert against Jones Day in connection with such representation and
agrees not to challenge Jones Day&rsquo;s representation of Seller with respect to such transactions or to assert that a conflict
of interest exists with respect to such representation. Without limiting the generality of the foregoing, Acquiror agrees, on behalf
of itself and its Affiliates, that Jones Day may represent Seller in any litigation, arbitration, mediation or other Action against
or involving Acquiror and/or any of its Affiliates, arising out of or in connection with such transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>10.15&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Dispute
Resolution</U></I></B>. Except as otherwise specifically provided in this Agreement or in any Ancillary Agreement and subject to
<U>Section 10.12</U>, the procedures set forth in this <U>Section 10.15</U> will govern dispute resolution of any Direct Claim
under <U>Section 8.05</U> (a &ldquo;<U>Dispute</U>&rdquo;). Acquiror, on the one hand, and Seller, on the other hand, will first
refer any such Dispute for resolution to either the Chief Executive Officer of Acquiror or the Chief Financial Officer of Seller
(or their designees) by delivering to the other Party a written notice of the referral (a &ldquo;<U>Dispute Escalation Notice</U>&rdquo;).
Following receipt of a Dispute Escalation Notice, each of the Parties will cause their respective officer or designee to negotiate
in good faith to resolve the Dispute. If such officers or designees are unable to resolve the Dispute within 20&nbsp;Business Days
after the date of the Dispute Escalation Notice, either Party will have the right to commence arbitration in accordance with <U>Section
10.04</U>. The Parties agree that all discussions, negotiations and other Information exchanged between the Parties during the
foregoing escalation proceedings will be without prejudice to the legal position of a Party in any subsequent Action and kept confidential
and protected against disclosure. The Parties agree that the Dispute Escalation Notice shall be deemed to satisfy any requirement
as regards the commencement of any Action under any applicable statute of limitation or other applicable time period provided pursuant
to this Agreement or any Ancillary Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>10.16&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I><U>Obligations
of Affiliates</U></I></B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(a) Each of Seller and Acquiror will cause all
of the members of its Group to comply with their respective obligations or representations or warranties under this Agreement and
the Ancillary Agreements (whether or not any such members of its Group are parties to this Agreement or Ancillary Agreements).
Seller hereby guarantees to Acquiror the performance of the other members of the Seller Group of their respective obligations under
this Agreement and the other Ancillary Agreements, and Acquiror hereby guarantees to Seller the performance of the other members
of the Acquiror Group of their respective obligations under this Agreement and Ancillary Agreements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)The Obligees hereby expressly agree and consent
to be bound by the terms of the present Agreement and to comply with their obligations applicable to them under the present Agreement,
including in their capacity as Subsidiaries of the Seller.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center; text-indent: 0in">XI.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;definitions</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">For purposes of this Agreement, the following
terms, when utilized in a capitalized form, will have the following meanings:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Accounting Firm</U>&rdquo; has the
meaning set forth in <U>Section 1.10(b)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Acquired Assets</U>&rdquo; has the
meaning set forth in <U>Section 1.04(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Acquiror</U>&rdquo; has the meaning
set forth in the preamble to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Acquiror Disclosure Letter</U>&rdquo;
means the disclosure letter delivered by Acquiror to Seller immediately prior to the execution of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Acquiror Group</U>&rdquo; means Acquiror
and each of its Affiliates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Acquiror Indemnitees</U>&rdquo; means
Acquiror, each member of the Acquiror Group and each of their respective successors and assigns, and all Persons who are or have
been stockholders, directors, partners, managers, managing members, officers, agents, representatives or employees of any member
of the Acquiror Group (in each case, in their respective capacities as such).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Acquiror MAE</U>&rdquo; means any
circumstance, change, development, condition or event that, individually or in the aggregate, has had or would reasonably be expected
to have a material adverse effect on the ability of Acquiror to consummate the transactions contemplated hereby by no later than
the End Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Acquiror Parent</U>&rdquo; has the
meaning set forth in <U>Section 4.03(b)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Acquiror Specified Representations</U>&rdquo;
has the meaning set forth in <U>Section 8.07(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Action</U>&rdquo; means any demand,
charge, claim, action, suit, counter suit, arbitration, mediation, hearing, inquiry, proceeding, audit, review, complaint, litigation
or investigation, sanction, summons, demand, subpoena, examination, citation, audit, review or proceeding of any nature whether
administrative, civil, criminal, regulatory or otherwise, by or before any Governmental Authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Affiliate</U>&rdquo; means, with respect
to any Person, any other Person directly or indirectly controlling, controlled by, or under common control with such other Person
as of the date on which, or at any time during the period for which, the determination of affiliation is being made, providing
that with the sole exception of Acquiror Parent, notwithstanding anything to the contrary in the foregoing, an Affiliate shall
under no circumstances include any shareholder of a publicly listed company. For purposes of this definition, the term &ldquo;control&rdquo;
(including, with correlative meanings, the terms &ldquo;controlled by&rdquo; and &ldquo;under common control with&rdquo;), as used
with respect to any Person means the possession, directly or indirectly, of the power to direct or cause the direction of the management
and policies of such Person, whether through the ownership of voting securities, by Contract or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Agreement</U>&rdquo; has the meaning
set forth in the preamble to this document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Alternative Proposal</U>&rdquo; means
any written proposal, or offer from any Person relating to, or that is reasonably likely to lead to, any direct or indirect acquisition,
in one transaction or series of transactions, any assets that constitute or represent 10% or more of the total revenue, operating
income, EBITDA or assets of the Rochas Business, other than with respect to the transactions contemplated by this Agreement and
the Ancillary Agreements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Ancillary Agreements</U>&rdquo; means
the Seller Shared Technology License Agreement, the Transitional Supply Agreements, the Coexistence Agreement and the Fonds de
Commerce Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Antitrust Approvals</U>&rdquo; has
the meaning set forth in <U>Section 4.02(c)(i)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Antitrust Laws</U>&rdquo; means all
Laws that are designed or intended to prohibit, restrict or regulate actions having the purpose or effect of monopolization or
restraint of trade.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Assets</U>&rdquo; means assets, properties,
rights (including brand equity), claims, contracts, and businesses, and any right, title or interest thereto, wherever located
(including in the possession of vendors or other third-parties or elsewhere), whether real, personal or mixed, tangible, intangible
or contingent, in each case whether or not recorded or reflected or required to be recorded or reflected on the books and records
or financial statements of any Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Asset Allocation</U>&rdquo; has the
meaning set forth in <U>Section 9.01</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Assumed Liabilities</U>&rdquo; has
the meaning set forth in <U>Section 1.05(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Base Amount</U>&rdquo; has the meaning
set forth in <U>Section 1.09(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Business Day</U>&rdquo; means any
day that is not a Saturday, a Sunday or other day that is a statutory holiday under the Laws of France or the federal Laws of the
United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Cap</U>&rdquo; has the meaning set
forth in <U>Section <FONT STYLE="font-size: 10pt">&lrm;</FONT>8.07(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Cash Purchase Price</U>&rdquo; has
the meaning set forth in <U>Section <FONT STYLE="font-size: 10pt">&lrm;</FONT>1.09(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Cause</U>&rdquo; means (a)&nbsp;a
material violation of Acquiror&rsquo;s generally applicable written employment rules or policies (including a violation of applicable
Law in the course of employment and insubordination as described in such rules and policies), (b)&nbsp;a conviction of, or a plea
of guilty or <I>nolo contendere</I> to, a crime for which a custodial sentence may be applied, or (c)&nbsp;a material failure to
perform his or her duties (other than any such failure resulting from the Transferred Employee&rsquo;s good faith effort to perform
his or her duties), but only if (i)&nbsp;Acquiror first provides the Transferred Employee with an &ldquo;official notice&rdquo;
identifying the manner in which Acquiror believes that the Transferred Employee has failed to perform his or her duties and (ii)&nbsp;the
Transferred Employee fails to remedy such failure following such notice; <U>provided</U>, <U>however</U>, that Cause specifically
excludes redundancy, surplus enrollment, restructuring of Acquiror or its Affiliates or their respective operations, or any other
economic related reasons. Seller agrees that any termination of employment by Acquiror or its Affiliates of a Transferred Employee
for Cause will be final and not subject to challenge by Seller.]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Claims Notice</U>&rdquo; has the meaning
set forth in <U>Section 8.04(b)(i)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Closing</U>&rdquo; has the meaning
set forth in <U>Section 1.08</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Closing Date</U>&rdquo; has the meaning
set forth in <U>Section 1.08</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Closing Rochas Inventory Payment</U>&rdquo;
has the meaning set forth in <U>Section 1.10(f)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Closing Statement</U>&rdquo; has the
meaning set forth in <U>Section 1.10(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Code</U>&rdquo; means the Internal
Revenue Code of&nbsp;1986.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Coexistence Agreement</U>&rdquo; means
an agreement, in a form to be negotiated in good faith between the Parties, to address the coexistence of Trademarks that are Acquired
Assets and Trademarks that are Excluded IP Assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Commercially Reasonable Efforts</U>&rdquo;
means, with respect to the efforts to be expended by a Party with respect to any objective under this Agreement, reasonable, diligent
good faith efforts to accomplish such objective as such Party would normally use to accomplish a similar objective as expeditiously
as reasonably possible under similar circumstances exercising reasonable business judgment, it being understood and agreed that
such efforts will include the exertion of efforts and utilization of resources that would be used by such Party in support of one
of its own wholly owned businesses. &ldquo;Commercially Reasonable Efforts&rdquo; will not require a Party (a) to make payments
to unaffiliated third parties (except as set forth in this Agreement), to incur non-de minimis Liabilities to unaffiliated third
parties or to grant any non-de minimis concessions or accommodations unless the other Party agrees to reimburse and make whole
such Party to its reasonable satisfaction for such Liabilities, concessions or accommodations requested to be made by the other
Party (such reimbursement and make whole to be made promptly after the determination thereof following the Closing or, with respect
to items incurred after the Closing, promptly thereafter), (b) to violate any Law, or (c) to initiate any litigation or arbitration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Compensation and Benefit Plans</U>&rdquo;
means all written (a)&nbsp;salary, bonus, vacation, deferred compensation, pension, retirement, profit-sharing, thrift, savings,
overtime, employee stock ownership, stock bonus, stock purchase, restricted stock, stock option, equity-based, incentive, retention,
severance or change-in-control plans or other similar plans, policies, arrangements or agreements, (b)&nbsp;employment agreements,
and (c)&nbsp;medical, dental, disability, health and life insurance plans, in the case of each of clauses (a)&nbsp;through (d),
either (i)&nbsp;maintained or contributed to by Seller or any of its Affiliates as of the date of this Agreement for the benefit
of any of the Transferred Employees or any of their beneficiaries or (ii)&nbsp;pursuant to which Acquiror or any of its Subsidiaries
may have any Liability for any Transferred Employees subsequent to the Closing in respect of periods prior to the Closing (which
clause&nbsp;(ii) is limited solely to Rochas Business Acquired Plans with respect to Transferred Employees), excluding in the case
of clauses (i) and (ii) any plans, policies, arrangements or agreements not sponsored by Seller or any of its Affiliates to which
contributions by an employer are mandated by a Governmental Authority or by law, rules, regulations, orders or decrees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Confidential Information</U>&rdquo;
has the meaning set forth in <U>Section 4.14(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Confidentiality Agreement</U>&rdquo;
means the Non-Disclosure Agreement, dated as of 16 December 2014, between Seller and Acquiror.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Consents</U>&rdquo; means any consents,
waivers or approvals from, or notification requirements to, or authorizations by, any third parties, including filings with Governmental
Authorities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Consolidated Tax Returns</U>&rdquo;
means any Tax Returns with respect to any federal, state, provincial, local or foreign income Taxes that are paid on an affiliated,
consolidated, combined, unitary or similar basis and that include Seller or any of its Affiliates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Contracts</U>&rdquo; means any contract,
agreement, lease, sublease, license, sales order, purchase order, loan, credit agreement, bond, debenture, note, mortgage, indenture,
guarantee, undertaking, instrument, arrangement, understanding or other commitment, whether written or oral, that is binding on
any Person or any part of its property under applicable Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Convey</U>&rdquo; has the meaning
set forth in <U>Section 1.01</U>. Variants of this term such as &ldquo;<U>Conveyance</U>&rdquo; will have correlative meanings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Copyrights</U>&rdquo; has the meaning
set forth in the definition of &ldquo;Intellectual Property.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Deductible</U>&rdquo; has the meaning
set forth in <U>Section 8.07(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Direct Claims</U>&rdquo; has the meaning
set forth in <U>Section 8.04(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Disclosing Party</U>&rdquo; has the
meaning set forth in <U>Section 4.14(b)(iii)(A)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Dispute</U>&rdquo; has the meaning
set forth in <U>Section 10.15</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Dispute Escalation Notice</U>&rdquo;
has the meaning set forth in <U>Section 10.15</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>End Date</U>&rdquo; has the meaning
set forth in <U>Section 7.01(b)(i)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Enforceability Exception</U>&rdquo;
has the meaning set forth in <U>Section 2.02</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Estimated Closing Statement</U>&rdquo;
has the meaning set forth in <U>Section 1.09(b)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Estimated Inventory Amount</U>&rdquo;
has the meaning set forth in <U>Section 1.09(b)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Excluded Assets</U>&rdquo; has the
meaning set forth in <U>Section 1.04(b)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Excluded IP Assets</U>&rdquo; means
(a) all UPC, EAN codes, IP addresses and any other codes or numbers that contain Seller identifiers, (b) any Intellectual Property
utilized for the provision of any of the services set forth on the annex attached to <U>Section 2.13</U> of the Seller Disclosure
Letter, (c) the Trademarks &ldquo;P&amp;G&rdquo; and &ldquo;Procter &amp; Gamble,&rdquo; similar Trademarks and any other Trademark
that includes the name of Seller or any of its Affiliates or businesses, (d)&nbsp;all Intellectual Property that is not used exclusively
in the Rochas Business, and (e)&nbsp;the Les Cascades de Rochas mark.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Excluded Liabilities</U>&rdquo; has
the meaning set forth in <U>Section 1.05(b)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Existing Fragrance Supplier</U>&rdquo;
has the meaning set forth in <U>Section 2.15(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Final Closing Statement</U>&rdquo;
has the meaning set forth in <U>Section 1.10(d)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Final Determination</U>&rdquo; means
(a)&nbsp;with respect to U.S. federal income Taxes, a &ldquo;determination&rdquo; as defined in Section 1313(a) of the Code and
(b)&nbsp;with respect to Taxes other than U.S. federal income Taxes, any final determination of Liability in respect of a Tax that,
under applicable Law, is not subject to further appeal, review or modification through proceedings or otherwise, including the
expiration of a statute of limitations or a period for the filing of claims for refunds, amended Tax Returns or appeals from adverse
determinations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Final Inventory Amount</U>&rdquo;
has the meaning set forth in <U>Section 1.10(d)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Fonds de Commerce Agreement</U>&rdquo;
means the French Language Asset Purchase Agreement (<I>Acte de Cession de Fonds de Commerce</I>) to be negotiated in good faith
between the Parties within five Business Days of the date of this Agreement with any substantive terms thereof to reflect the terms
and conditions set forth in the provisions of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Fragrances</U>&rdquo; has the meaning
set forth in <U>Section 2.15(c)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>GAAP</U>&rdquo; means United States
generally accepted accounting principles, as consistently applied by Seller.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Goods in Transit</U>&rdquo; means
goods that have left a Seller site and were recorded by Seller in its accounting systems, but have not been received by customers
(and, because the title and risk of loss of the goods only transfers to the customer when received for these specific orders, therefore
cannot be reflected as sales in accordance with GAAP).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Governmental Approvals</U>&rdquo;
means any notices, reports or other filings to be made to, or any Consents, registrations, permits, orders, clearances, terminations
or expirations of waiting periods or authorizations to be obtained from, any Governmental Authority, including the Antitrust Approvals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Governmental Authority</U>&rdquo;
means any supranational (including the EU), federal, state, local, provincial, foreign or international court, tribunal, judicial
or arbitral body, government, department, commission, board, bureau, agency, official or other regulatory, administrative or governmental
authority or any national securities exchange.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Governmental Permits</U>&rdquo; means
any licenses, registrations, permits, orders, clearances, or other authorizations of any Governmental Authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Group</U>&rdquo; means the Seller
Group or the Acquiror Group, as the context requires.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Hybrid Fragrance</U>&rdquo; has the
meaning set forth in <U>Section 2.15(c)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>ICC Expert Rules</U>&rdquo; has the
meaning set forth in Section <U>1.10(c)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>ICC Rules</U>&rdquo; has the meaning
set forth in <U>Section 10.04</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Indebtedness</U>&rdquo; means and
includes as to any Person (a)&nbsp;indebtedness for borrowed money or indebtedness issued or incurred in substitution or exchange
for indebtedness for borrowed money, (b)&nbsp;amounts owing as deferred purchase price for property or services, (c)&nbsp;indebtedness
evidenced by any note, bond, debenture, mortgage or other debt instrument or debt security, (d)&nbsp;obligations or commitments
to repay deposits or other amounts advanced by and owing to third parties, (e)&nbsp;net payment obligations under any interest
rate, currency or other hedging agreement, (f)&nbsp;obligations of such Person as lessee under leases that have been, or should
be, in accordance with GAAP, recorded as capital leases, or (g)&nbsp;guarantees or other contingent liabilities (including so called
take-or-pay or keep-well agreements) with respect to any indebtedness, obligation, claim or liability of any other Person of a
type described in clauses&nbsp;(a) through&nbsp;(f) above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Indemnifying Party</U>&rdquo; means
any Party which may be obligated to provide indemnification to an Indemnitee pursuant to <U>Article&nbsp;VIII</U>, <U>Article&nbsp;IX</U>
or any other section of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Indemnitee</U>&rdquo; means any Person
which may be entitled to indemnification from an Indemnifying Party pursuant to <U>Article&nbsp;VIII</U>, <U>Article&nbsp;IX</U>
or any other section of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Information</U>&rdquo; means information
in written, oral, electronic or other tangible or intangible forms, stored in any medium, including studies, reports, records,
books, Contracts, instruments, surveys, discoveries, ideas, concepts, know-how, techniques, designs, specifications, drawings,
blueprints, diagrams, models, prototypes, samples, flow charts, data, computer data, disks, diskettes, tapes, computer programs
or other software, marketing plans, customer names, communications by or to attorneys (including attorney-client privileged communications),
memos and other materials prepared by attorneys or under their direction (including attorney work product), and other technical,
financial, employee or business information or data, but in any case excluding back-up tapes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Intellectual Property</U>&rdquo; means,
in any and all jurisdictions throughout the world, all (a) patents, patent applications, inventors&rsquo; certificates, utility
models, statutory invention registrations, and other indicia of ownership of an invention, discovery or improvement issued by an
Governmental Authority, including reissues, divisionals, continuations, continuations-in-part, extensions, reexaminations and other
pre-grant and post-grant forms of the foregoing (collectively, &ldquo;<U>Patents</U>&rdquo;), (b) trademarks, service marks, trade
dress, slogans, logos, symbols, trade names, brand names and other identifiers of source or goodwill recognized by any Governmental
Authority, including registrations and applications for registration thereof and including the goodwill symbolized thereby or associated
therewith (collectively, &ldquo;<U>Trademarks</U>&rdquo;), and Internet domain names and associated uniform resource locators,
(c) copyrights, whether in published and unpublished works of authorship, registrations, applications, renewals and extensions
therefor, mask works, and any and all similar rights recognized in a work of authorship by a Governmental Authority (collectively,
&ldquo;<U>Copyrights</U>&rdquo;), (d) any trade secret rights in any inventions, discoveries, improvements, trade secrets and all
other confidential or proprietary Information (including know-how, data, formulas, processes and procedures, research records,
records of inventions, test information, and market surveys), and all rights to limit the use or disclosure thereof (collectively,
&ldquo;<U>Trade Secrets</U>&rdquo;), (e) rights of privacy and publicity, and (f) any and all other intellectual or industrial
property rights recognized by any Governmental Authority under the Laws of any country throughout the world.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Knowledge</U>&rdquo; means, in the
case of Acquiror, the knowledge of each of the Persons listed on <U>Section 11.01(a)</U> of the Acquiror Disclosure Letter as of
the date of the representation after prudent inquiry by each such Person, and, in the case of Seller, the knowledge of each of
the persons listed on <U>Section 11.01(a)</U> of the Seller Disclosure Letter as of the date of the representation after prudent
inquiry by each such Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Law</U>&rdquo; means any statute,
law, ordinance, regulation, rule, code or other requirement of, or Order issued by, a Governmental Authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Leased Real Property</U>&rdquo; has
the meaning set forth in <U>Section 2.14(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Liabilities</U>&rdquo; means all debts,
liabilities, guarantees, assurances and commitments, whether fixed, contingent or absolute, asserted or unasserted, matured or
unmatured, liquidated or unliquidated, accrued or not accrued, known or unknown, due or to become due, whenever or however arising
(including whether arising out of any Contract or tort based on negligence, strict liability or relating to Taxes payable by a
Person in connection with compensatory payments to employees or independent contractors) and whether or not the same would be required
by generally accepted principles and accounting policies to be reflected in financial statements or disclosed in the notes thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Litigation Conditions</U>&rdquo; has
the meaning set forth in <U>Section 8.04(b)(ii)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Losses</U>&rdquo; means liabilities,
damages, penalties, judgments, assessments, losses, costs and expenses in any case, whether arising under strict liability or otherwise
(including reasonable attorneys&rsquo; fees and expenses); <U>provided</U>, <U>however</U>, that &ldquo;Losses&rdquo; will not
include any punitive, exemplary, special or similar damages, indirect damages, consequential damages that are not reasonably foreseeable,
damages computed on a multiple of earnings, cash flow or another financial measure, in each case, except to the extent awarded
by a court of competent jurisdiction in connection with a Third-Party Claim.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Obligees</U>&rdquo; has the meaning
set forth in the preamble to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Order</U>&rdquo; means any orders,
judgments, injunctions, awards, decrees, writs or other legally enforceable requirement handed down, adopted or imposed by, including
any consent decree, settlement agreement or similar written agreement with, any Governmental Authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Ordinary Course</U>&rdquo; means,
with respect to an action taken by any Person, an action that is materially (a)&nbsp;consistent in nature, scope and magnitude
with the past practices of such Person and is taken in the ordinary course of the normal operations of such Person or (b)&nbsp;similar
in nature, scope and magnitude to actions customarily taken, without any separate or special authorization, in the ordinary course
of the normal operations of other Persons that are in the same size and line of business as such Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Parties</U>&rdquo; means Seller and
Acquiror.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Patent</U>&rdquo; has the meaning
set forth in the definition of &ldquo;Intellectual Property.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Permitted Encumbrances</U>&rdquo;
means (a)&nbsp;Security Interests consisting of zoning or planning restrictions, easements, permits and other restrictions or limitations
on the use of real property or immaterial irregularities in title thereto which do not materially interfere with the use of the
property in the Rochas Business, (b)&nbsp;Security Interests for current Taxes, assessments or similar governmental charges or
levies (x) not yet due or (y) which are being contested in good faith, and have been fairly disclosed if they exceed 50,000 Euros,
(c)&nbsp;mechanic&rsquo;s, workmen&rsquo;s, materialmen&rsquo;s, carrier&rsquo;s, repairer&rsquo;s, warehousemen&rsquo;s and similar
other Security Interests arising or incurred in the Ordinary Course, (d)&nbsp;with respect to Acquiror, Security Interests securing
obligations pursuant to credit documents of Acquiror in connection with the Debt Financing or any refinancing thereof, (e) liens
on the Leased Real Property in favor of the landlord of such Leased Real Property, whether contractual, statutory or otherwise,
and (f) any Security Interest against any landlord&rsquo;s interest in the fee property that is subject to a Real Property Lease.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Person</U>&rdquo; means an individual,
a partnership, a corporation, a limited liability company, an association, a joint stock company, a trust, a joint venture, an
unincorporated organization, or other entity or organization or a Governmental Authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Post-Closing Tax Period</U>&rdquo;
means any Tax period (or portion thereof) beginning after the Closing Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Pre-Closing Period</U>&rdquo; has
the meaning set forth in <U>Section 4.01(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Privileged Communications</U>&rdquo;
has the meaning set forth in <U>Section 4.07(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Real Property Interests</U>&rdquo;
means all interests in real property of whatever nature, including easements, whether as owner or holder of a Security Interest,
lessor, sublessor, lessee, sublessee or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Real Property Leases</U>&rdquo; has
the meaning set forth in <U>Section 2.14(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Receiving Party</U>&rdquo; has the
meaning set forth in <U>Section 4.14(b)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Registered Intellectual Property</U>&rdquo;
means any active Patent, Trademark registration or application for registration, Copyright registration or application for registration,
or Internet domain name registration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Representatives</U>&rdquo; means with
respect to any Person, such Person&rsquo;s and any of its Subsidiaries&rsquo; officers, employees, agents, advisors, directors
and other representatives.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Rochas Books and Records</U>&rdquo;
has the meaning set forth in <U>Section 1.04(a)(vi)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Rochas Business</U>&rdquo; means Seller&rsquo;s
perfumes and fashion house that operate under the &ldquo;Rochas&rdquo; Trademark.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Rochas Business Acquired Plan Assets</U>&rdquo;
has the meaning set forth in <U>Section 1.04(a)(xi)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Rochas Business Acquired Plans</U>&rdquo;
has the meaning set forth on <U>Section 1.04(a)(xi)</U> of the Seller Disclosure Letter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Rochas Business MAE</U>&rdquo; means
any circumstance, change, development, condition or event that, individually or in the aggregate, has or would reasonably be expected
to have a material adverse effect on the assets, business, liabilities, condition (financial or other) or results of operations
of the Rochas Business taken as a whole; <U>provided</U>, <U>however</U>, that any such effect resulting or arising from or relating
to any of the following matters will not be considered when determining whether there has been, or would reasonably be expected
to be, a Rochas Business MAE: (a)&nbsp;general conditions in the industry in which the Rochas Business competes, (b)&nbsp;any conditions
in the United States general economy or the general economy in other geographic areas in which the Rochas Business operates or
proposes to operate, (c)&nbsp;political conditions, including acts of war (whether or not declared), armed hostilities, acts of
terrorism or developments or changes therein, (d) any conditions resulting from natural disasters, (e) compliance by Seller with
its covenants or obligations (other than representations and warranties) in this Agreement, (f) the failure of the financial or
operating performance of the Rochas Business to meet internal forecasts or budgets for any period prior to, on or after the date
of this Agreement (but the underlying reason for the failure to meet such forecasts or budgets may be considered provided that
they do not fall under another clause of this proviso), (g) any action taken or omitted to be taken at the request or with the
consent of Acquiror, (h)&nbsp;effects or conditions resulting from the announcement of this Agreement or the transactions contemplated
thereby, including any employee departures and any actions taken by customers or suppliers of the Rochas Business to terminate,
discontinue or not renew their Contracts with the Rochas Business or otherwise withhold any Consent necessary in respect of such
Contracts, (i) changes in applicable Laws or GAAP; <U>provided</U>, <U>further</U>, that with respect to clauses&nbsp;(a), (b),
(c), or (d), such matters will be considered to the extent that they disproportionately affect the Rochas Business as compared
to similarly situated businesses generally operating in the same industry and in the geographic areas in which the Rochas Business
operates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Rochas Contracts</U>&rdquo; means
the following Contracts to which Seller or any member of Seller Group is a Party or by which it or any of its Assets is bound,
except for any such Contract that is explicitly retained by Seller or any member of the Seller Group pursuant to any provision
of this Agreement or any Ancillary Agreement: (a)&nbsp;any Contract identified on <U>Section 2.07(a)</U> of the Seller Disclosure
Letter and (b)&nbsp;any other Contract that is exclusively used in or exclusively relates to the Rochas Business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Rochas Facilities</U>&rdquo; has the
meaning set forth in <U>Section 1.04(a)(ii)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Rochas Governmental Approvals</U>&rdquo;
has the meaning set forth in <U>Section 1.04(a)(iv)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Rochas Inventory</U>&rdquo; means
all product inventories, raw and packaging materials, Goods in Transit, parts, works-in-process and finished goods and products
of the Rochas Business as of the Closing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Rochas IP Assets</U>&rdquo; has the
meaning set forth in <U>Section 1.04(a)(v)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Rochas Material Contracts</U>&rdquo;
has the meaning set forth in <U>Section 2.07(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Security Interest</U>&rdquo; means,
whether arising under any Contract or otherwise, any mortgage, security interest, pledge, lien, charge, claim, option, indenture,
right to acquire, right of first refusal, deed of trust, licenses to third parties, leases to third parties, security agreements,
voting or other restriction, right-of-way, covenant, condition, easement, encroachment, title defect, restriction on transfer or
other encumbrance and other restrictions, conditions or limitations on the ownership, possession or use of any real, personal,
tangible or intangible property.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Seller</U>&rdquo; has the meaning
set forth in the preamble to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Seller Disclosure Letter</U>&rdquo;
means the disclosure letter delivered by Seller to Acquiror immediately prior to the execution of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Seller Fragrances</U>&rdquo; has the
meaning set forth in <U>Section 2.15(b)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Seller Group</U>&rdquo; means Seller
and each of its Affiliates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Seller Indemnitees</U>&rdquo; means
Seller, each member of the Seller Group, and all Persons who are or have been stockholders, directors, partners, managers, managing
members, officers, agents, representatives or employees of any member of the Seller Group (in each case, in their respective capacities
as such).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Seller Names and Marks</U>&rdquo;
has the meaning set forth in <U>Section 4.10(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Seller Objection</U>&rdquo; has the
meaning set forth in <U>Section 1.10(b)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Seller Shared Technology Agreement</U>&rdquo;
means the Seller Shared Technology License Agreement in substantially the form attached hereto as <U>Exhibit B</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Seller Specified Representations</U>&rdquo;
has the meaning set forth in <U>Section 8.07(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Shared Information</U>&rdquo; means
(a)&nbsp;all Information provided by any member of the Acquiror Group to a member of the Seller Group prior to the Closing, (b)&nbsp;any
Information in the possession or under the control of such respective Group that relates to the operation of the Rochas Business
prior to the Closing and that the requesting Party reasonably needs (i)&nbsp;to comply with reporting, disclosure, filing or other
requirements imposed on the requesting Party (including under applicable securities and Tax Laws) by a Governmental Authority having
jurisdiction over the requesting Party, including as required by Article L.141-2 of the French Commercial Code, (ii)&nbsp;for use
in any other judicial, regulatory, administrative or other proceeding or in order to satisfy audit, accounting, claims, regulatory,
litigation or other similar requirements, in each case other than claims or allegations that one Party to this Agreement has against
the other, (iii)&nbsp;subject to the foregoing clause&nbsp;(ii) above, to comply with its obligations under this Agreement or any
Ancillary Agreement, or (iv)&nbsp;to the extent such Information and cooperation is necessary to comply with such reporting, filing
and disclosure obligations, for the preparation of financial statements or completing an audit, and as reasonably necessary to
conduct the ongoing businesses of Seller or the Rochas Business, as the case may be, and (c)&nbsp;any Information that is reasonably
necessary for the conduct of the Rochas Business (except for any information relating to performance ratings or assessments of
employees of Seller and Transferred Employees (including performance history, reports prepared in connection with bonus plan participation
and related data, other than individual bonus opportunities based on target bonus as a percentage of base salary)).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Shared Operational Real Property</U>&rdquo;
has the meaning set forth in <U>Section 2.14(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Subsidiary</U>&rdquo; of any Person
means another Person (other than a natural Person), of which such Person owns directly or indirectly (a)&nbsp;an aggregate amount
of the voting securities, other voting ownership or voting partnership interests to elect more than 50% of the Board of Directors
or other governing body or (b)&nbsp;if there are no such voting interests, hold more than 50% or more of the equity interests therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Tax</U>&rdquo; means (i) all forms
of taxation imposed by any federal income, state, local or Tax Authority including (but not limited to) , charge, duty, fee, levy,
impost or other assessment of any nature whatsoever, including Transfer Taxes and income, gross receipts, excise, property, estimated,
sales or use, value added, goods and services, withholding, employment, unemployment net worth, customs duties, capital gains,
stamp and franchise taxes, , in each case including any interest, penalties, additions to tax and additional amounts with respect
thereto, and (ii) all amounts payable with respect to any Taxes pursuant to an agreement or an arrangement or any other legal obligation
including payments as a secondary liability besides or for the account of any other person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Tax Proceeding</U>&rdquo; has the
meaning set forth in <U>Section 2.10(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Tax Return</U>&rdquo; means any return,
report, declaration, statement or other document (including any amendment or schedule thereto) filed or required to be filed with
any Taxing Authority in respect of any Tax.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Taxing Authority</U>&rdquo; means
any Governmental Authority exercising any authority to impose, regulate or administer the imposition of Taxes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Third-Party Claim</U>&rdquo; has the
meaning set forth in <U>Section 8.04(b)(i)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Third-Party Fragrances</U>&rdquo;
has the meaning set forth in <U>Section 2.15(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Trade Secrets</U>&rdquo; has the meaning
set forth in the definition of &ldquo;Intellectual Property.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Trademarks</U>&rdquo; has the meaning
set forth in the definition of &ldquo;Intellectual Property.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Transaction Announcement</U>&rdquo;
has the meaning set forth in <U>Section 4.03(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Transfer Documents</U>&rdquo; has
the meaning set forth in <U>Section 1.12</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Transfer Regulation</U>&rdquo; means
Section L1224.1 of the French Labor Code in respect of Transferred Employees and the provisions of EU Council Directive 2001/23/EC
of 12 March 2001.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Transfer Tax</U>&rdquo; means any
federal, state, county, local, foreign and other sales, use, transfer, VAT, goods and services, conveyance, documentary transfer,
stamp, recording, registration or other similar Tax (including any notarial fee) imposed in connection with, or otherwise relating
to, the sale, transfer or assignment of the Acquired Assets from Seller or any of its Affiliates to Acquiror or any of its Affiliates
pursuant to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Transferred Employees</U>&rdquo; means
employees of Seller or its Subsidiaries identified as Transferred Employees on <U>Section 5.01</U> of the Seller Disclosure Letter,
as it may be updated from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Transition Period</U>&rdquo; has the
meaning in <U>Section 4.10(a)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>Transitional Supply Agreements</U>&rdquo;
means the Transitional Supply Agreement in substantially the form attached hereto as <U>Exhibit&nbsp;C</U>. From and after the
Closing, the Transitional Supply Agreements will refer to such agreements executed and delivered pursuant to this Agreement, as
amended and/or modified in accordance with its terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&ldquo;<U>VAT</U>&rdquo; means any value added
Tax, goods and services Tax or similar Tax, including such Tax as may be levied in accordance with (but subject to derogation from)
EEC&nbsp;Directive&nbsp;77/388/EEC (and other EEC directives relating to VAT) and/or local legislation imposing value added Tax
in the relevant jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in">[<I>Signature Page Follows</I>]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">IN WITNESS WHEREOF, the Parties have caused
this Agreement to be executed as of the day and year first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="text-transform: uppercase"><B>The Procter &amp; Gamble CoMPANY</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Laura Becker</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 45%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 10%">Name:</TD>
    <TD STYLE="width: 39%">Laura Becker</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>VP Business Development</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Location:</TD>
    <TD>Cincinnati, OH, USA</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="text-transform: uppercase"><B>INTERpARFUMS SA</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Stanislas Archambault</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 45%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 10%">Name:</TD>
    <TD STYLE="width: 39%">Stanislas Archambault</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Managing Director,</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;Duly Empowered</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Location:</TD>
    <TD>New York</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 12pt/10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">[<I>Signature
Page to Transaction Agreement]</I></FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-decoration: underline"><B><U>Obligees</U>:</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="text-transform: uppercase"><B>PARFUMS ROCHAS SAS</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Antoine Delgrange</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 45%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 10%">Name:</TD>
    <TD STYLE="width: 39%">Antoine Delgrange</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>President, Rochas SAS</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Location:</TD>
    <TD>Geneva</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="text-transform: uppercase"><B>Procter &amp; Gamble INTERNATIONAL OPERATIONS SA</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ [unintelligible] &nbsp;Ambrosio</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 45%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 10%">Name:</TD>
    <TD STYLE="width: 39%">L. Ambriosio</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>Associate General Counsel</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Location:</TD>
    <TD>Geneva</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ M Carla LiUni</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Name:</TD>
    <TD>M Carla Liuni</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>VP Prestige</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Location:</TD>
    <TD>Geneva</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">[<I>Signature
Page to Transaction Agreement]</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<DOCUMENT>
<TYPE>EX-31.1
<SEQUENCE>3
<FILENAME>v408666_ex31-1.htm
<DESCRIPTION>EXHIBIT 31.1
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 31.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>CERTIFICATIONS</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">I, Jean Madar, certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">1. I have reviewed this quarterly report on Form 10-Q of Inter Parfums,
Inc.;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">2. Based on my knowledge, this report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances
under which such statements were made, not misleading with respect to the period covered by this report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">3. Based on my knowledge, the financial statements, and other financial
information included in this quarterly report, fairly present in all material respects the financial condition, results of operations
and cash flows of the registrant as of, and for, the periods presented in this report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">4. The registrant's other certifying officer(s) and I are responsible
for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e))
and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and
have:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">a) Designed such disclosure controls and procedures, or
caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating
to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during
the period in which this report is being prepared;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">b) Designed such internal control over financial reporting,
or caused such control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding
the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally
accepted accounting principles;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">c) Evaluated the effectiveness of the registrant's disclosure
controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures
as of the end of the period covered by this report based upon such evaluation; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">d) Disclosed in this report any change in the registrant&rsquo;s
internal control over financial reporting that occurred during the registrant&rsquo;s most recent fiscal quarter (the registrant&rsquo;s
fourth quarter in case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant&rsquo;s
internal control over financial reporting; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">5. The registrant's other certifying officer(s) and I have disclosed,
based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee
of registrant's board of directors (or persons performing the equivalent functions):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">a) all significant deficiencies and material weaknesses
in the design or operation of internal controls over financial reporting which are reasonably likely to adversely affect the registrant's
ability to record, process, summarize and report financial information; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">b) any fraud, whether or not material, that involves management
or other employees who have a significant role in the registrant's internal control over financial reporting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">Date: May 11, 2015</FONT></TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Jean Madar</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Jean Madar,</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Chief Executive Officer</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<TYPE>EX-31.2
<SEQUENCE>4
<FILENAME>v408666_ex31-2.htm
<DESCRIPTION>EXHIBIT 31.2
<TEXT>
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<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 31.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">I, Russell Greenberg, certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">1. I have reviewed this quarterly report on Form 10-Q of Inter Parfums,
Inc.;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">2. Based on my knowledge, this report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances
under which such statements were made, not misleading with respect to the period covered by this report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">3. Based on my knowledge, the financial statements, and other financial
information included in this quarterly report, fairly present in all material respects the financial condition, results of operations
and cash flows of the registrant as of, and for, the periods presented in this report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">4. The registrant's other certifying officer(s) and I are responsible
for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e))
and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and
have:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">a) Designed such disclosure controls and procedures, or
caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating
to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during
the period in which this report is being prepared;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">b) Designed such internal control over financial reporting,
or caused such control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding
the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally
accepted accounting principles;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">c) Evaluated the effectiveness of the registrant's disclosure
controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures
as of the end of the period covered by this report based upon such evaluation; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">d) Disclosed in this report any change in the registrant&rsquo;s
internal control over financial reporting that occurred during the registrant&rsquo;s most recent fiscal quarter (the registrant&rsquo;s
fourth quarter in case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant&rsquo;s
internal control over financial reporting; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">5. The registrant's other certifying officer(s) and I have disclosed,
based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee
of registrant's board of directors (or persons performing the equivalent functions):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">a) all significant deficiencies and material weaknesses
in the design or operation of internal controls over financial reporting which are reasonably likely to adversely affect the registrant's
ability to record, process, summarize and report financial information; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">b) any fraud, whether or not material, that involves management
or other employees who have a significant role in the registrant's internal control over financial reporting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">Date: May 11, 2015</FONT></TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Russell Greenberg</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Russell Greenberg</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Chief Financial Officer and</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Principal Accounting Officer</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-32.1
<SEQUENCE>5
<FILENAME>v408666_ex32-1.htm
<DESCRIPTION>EXHIBIT 32.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 32.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CERTIFICATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The undersigned hereby certifies, in accordance
with 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, in his capacity as an officer of Inter
Parfums, Inc., that the Quarterly Report of Inter Parfums, Inc. on Form 10-Q for the period ended March 31, 2015, fully complies
with the requirements of Section 13(a) of the Securities Exchange Act of 1934 and that the information contained in such report
fairly presents, in all material respects, the financial condition and results of operation of Inter Parfums, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">Date: May 11, 2015</TD>
    <TD STYLE="width: 4%">By:</TD>
    <TD STYLE="width: 46%; border-bottom: Black 1pt solid">/s/ Jean Madar</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Jean Madar,</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Chief Executive Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">A signed original of this written statement
required by Section 906 has been provided to Inter Parfums, Inc. and will be retained by Inter Parfums, Inc. and furnished to the
Securities and Exchange Commission or its staff upon request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

</BODY>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-32.2
<SEQUENCE>6
<FILENAME>v408666_ex32-2.htm
<DESCRIPTION>EXHIBIT 32.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 32.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CERTIFICATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The undersigned hereby certifies, in accordance
with 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, in his capacity as an officer of Inter
Parfums, Inc., that the Quarterly Report of Inter Parfums, Inc. on Form 10-Q for the period ended March 31, 2015, fully complies
with the requirements of Section 13(a) of the Securities Exchange Act of 1934 and that the information contained in such report
fairly presents, in all material respects, the financial condition and results of operation of Inter Parfums, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 51%">Date: May 11, 2015</td>
    <td style="width: 5%">By:</td>
    <td style="width: 44%; border-bottom: Black 1pt solid">/s/ Russell Greenberg</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>Russell Greenberg</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>Executive Vice President,</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>Chief Financial Officer and</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>Principal Accounting Officer</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">A signed original of this written statement
required by Section 906 has been provided to Inter Parfums, Inc. and will be retained by Inter Parfums, Inc. and furnished to the
Securities and Exchange Commission or its staff upon request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.DEF
<SEQUENCE>7
<FILENAME>ipar-20150331_def.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION DEFINITION LINKBASE
<TEXT>
<XBRL>
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    <link:label xlink:type="resource" xlink:label="label_ipar_OtherComprehensiveIncomeLossUnrealizedGainLossOnDerivativesArisingDuringPeriodNetofTax" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_OtherComprehensiveIncomeLossUnrealizedGainLossOnDerivativesArisingDuringPeriodNetofTax" xml:lang="en-US" id="label_ipar_OtherComprehensiveIncomeLossUnrealizedGainLossOnDerivativesArisingDuringPeriodNetofTax">Amount after tax of increase (decrease) in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss) attributable to noncontrolling interest.</link:label>
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    <link:label xlink:type="resource" xlink:label="label_ipar_OtherComprehensiveIncomeLossUnrealizedGainLossOnDerivativesArisingDuringPeriodNetofTax_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_OtherComprehensiveIncomeLossUnrealizedGainLossOnDerivativesArisingDuringPeriodNetofTax_1" xml:lang="en-US" id="label_ipar_OtherComprehensiveIncomeLossUnrealizedGainLossOnDerivativesArisingDuringPeriodNetofTax_1">Other Comprehensive Income Loss Unrealized Gain Loss On Derivatives Arising During Period Netof Tax</link:label>
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    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_CollaborativeAndLicenseArrangementDisclosureTextBlock" xlink:label="ipar_CollaborativeAndLicenseArrangementDisclosureTextBlock" xlink:title="ipar_CollaborativeAndLicenseArrangementDisclosureTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_ipar_CollaborativeAndLicenseArrangementDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_CollaborativeAndLicenseArrangementDisclosureTextBlock" xml:lang="en-US" id="label_ipar_CollaborativeAndLicenseArrangementDisclosureTextBlock">Disclosure for collaborative and license arrangements.</link:label>
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    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_LicenseFairVaue" xlink:label="ipar_LicenseFairVaue" xlink:title="ipar_LicenseFairVaue" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_FixedAssetsWriteDown" xlink:to="label_ipar_FixedAssetsWriteDown" xlink:title="Label : ipar_FixedAssetsWriteDown to label_ipar_FixedAssetsWriteDown" />
    <link:label xlink:type="resource" xlink:label="label_ipar_FixedAssetsWriteDown_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_FixedAssetsWriteDown_1" xml:lang="en-US" id="label_ipar_FixedAssetsWriteDown_1">Fixed Assets Write Down</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_FixedAssetsWriteDown" xlink:to="label_ipar_FixedAssetsWriteDown_1" xlink:title="Label : ipar_FixedAssetsWriteDown to label_ipar_FixedAssetsWriteDown_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_FixedAssetsWriteDown_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_FixedAssetsWriteDown_2" xml:lang="en-US" id="label_ipar_FixedAssetsWriteDown_2">Writedown of fixed assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_FixedAssetsWriteDown" xlink:to="label_ipar_FixedAssetsWriteDown_2" xlink:title="Label : ipar_FixedAssetsWriteDown to label_ipar_FixedAssetsWriteDown_2" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_ModelingRightsUnusedWriteDown" xlink:label="ipar_ModelingRightsUnusedWriteDown" xlink:title="ipar_ModelingRightsUnusedWriteDown" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ModelingRightsUnusedWriteDown" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_ModelingRightsUnusedWriteDown" xml:lang="en-US" id="label_ipar_ModelingRightsUnusedWriteDown">Write down of unused modeling rights due to business exit.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ModelingRightsUnusedWriteDown" xlink:to="label_ipar_ModelingRightsUnusedWriteDown" xlink:title="Label : ipar_ModelingRightsUnusedWriteDown to label_ipar_ModelingRightsUnusedWriteDown" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ModelingRightsUnusedWriteDown_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_ModelingRightsUnusedWriteDown_1" xml:lang="en-US" id="label_ipar_ModelingRightsUnusedWriteDown_1">Modeling Rights Unused Write Down</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ModelingRightsUnusedWriteDown" xlink:to="label_ipar_ModelingRightsUnusedWriteDown_1" xlink:title="Label : ipar_ModelingRightsUnusedWriteDown to label_ipar_ModelingRightsUnusedWriteDown_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ModelingRightsUnusedWriteDown_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_ModelingRightsUnusedWriteDown_2" xml:lang="en-US" id="label_ipar_ModelingRightsUnusedWriteDown_2">Write-off of unsued modeling rights</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ModelingRightsUnusedWriteDown" xlink:to="label_ipar_ModelingRightsUnusedWriteDown_2" xlink:title="Label : ipar_ModelingRightsUnusedWriteDown to label_ipar_ModelingRightsUnusedWriteDown_2" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_LicensingAgreementsEstimatedInventory" xlink:label="ipar_LicensingAgreementsEstimatedInventory" xlink:title="ipar_LicensingAgreementsEstimatedInventory" />
    <link:label xlink:type="resource" xlink:label="label_ipar_LicensingAgreementsEstimatedInventory" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_LicensingAgreementsEstimatedInventory" xml:lang="en-US" id="label_ipar_LicensingAgreementsEstimatedInventory">Estimated inventory as of the balance sheet date.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_LicensingAgreementsEstimatedInventory" xlink:to="label_ipar_LicensingAgreementsEstimatedInventory" xlink:title="Label : ipar_LicensingAgreementsEstimatedInventory to label_ipar_LicensingAgreementsEstimatedInventory" />
    <link:label xlink:type="resource" xlink:label="label_ipar_LicensingAgreementsEstimatedInventory_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_LicensingAgreementsEstimatedInventory_1" xml:lang="en-US" id="label_ipar_LicensingAgreementsEstimatedInventory_1">Licensing Agreements Estimated Inventory</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_LicensingAgreementsEstimatedInventory" xlink:to="label_ipar_LicensingAgreementsEstimatedInventory_1" xlink:title="Label : ipar_LicensingAgreementsEstimatedInventory to label_ipar_LicensingAgreementsEstimatedInventory_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_LicensingAgreementsEstimatedInventory_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_LicensingAgreementsEstimatedInventory_2" xml:lang="en-US" id="label_ipar_LicensingAgreementsEstimatedInventory_2">Estimated inventory</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_LicensingAgreementsEstimatedInventory" xlink:to="label_ipar_LicensingAgreementsEstimatedInventory_2" xlink:title="Label : ipar_LicensingAgreementsEstimatedInventory to label_ipar_LicensingAgreementsEstimatedInventory_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_AmendmentFlag" xlink:label="dei_AmendmentFlag" xlink:title="dei_AmendmentFlag" />
    <link:label xlink:type="resource" xlink:label="label_dei_AmendmentFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_AmendmentFlag" xml:lang="en-US" id="label_dei_AmendmentFlag">Amendment Flag</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="label_dei_AmendmentFlag" xlink:title="Label : dei_AmendmentFlag to label_dei_AmendmentFlag" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_InventorySoldAtCost" xlink:label="ipar_InventorySoldAtCost" xlink:title="ipar_InventorySoldAtCost" />
    <link:label xlink:type="resource" xlink:label="label_ipar_InventorySoldAtCost" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_InventorySoldAtCost" xml:lang="en-US" id="label_ipar_InventorySoldAtCost">Inventory sold at cost.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_InventorySoldAtCost" xlink:to="label_ipar_InventorySoldAtCost" xlink:title="Label : ipar_InventorySoldAtCost to label_ipar_InventorySoldAtCost" />
    <link:label xlink:type="resource" xlink:label="label_ipar_InventorySoldAtCost_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_InventorySoldAtCost_1" xml:lang="en-US" id="label_ipar_InventorySoldAtCost_1">Inventory Sold At Cost</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_InventorySoldAtCost" xlink:to="label_ipar_InventorySoldAtCost_1" xlink:title="Label : ipar_InventorySoldAtCost to label_ipar_InventorySoldAtCost_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_InventorySoldAtCost_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_InventorySoldAtCost_2" xml:lang="en-US" id="label_ipar_InventorySoldAtCost_2">Inventory purchased by Burberry at cost</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_InventorySoldAtCost" xlink:to="label_ipar_InventorySoldAtCost_2" xlink:title="Label : ipar_InventorySoldAtCost to label_ipar_InventorySoldAtCost_2" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_LicensingAgreementsAxis" xlink:label="ipar_LicensingAgreementsAxis" xlink:title="ipar_LicensingAgreementsAxis" />
    <link:label xlink:type="resource" xlink:label="label_ipar_LicensingAgreementsAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_LicensingAgreementsAxis" xml:lang="en-US" id="label_ipar_LicensingAgreementsAxis">Licensing Agreements [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_LicensingAgreementsAxis" xlink:to="label_ipar_LicensingAgreementsAxis" xlink:title="Label : ipar_LicensingAgreementsAxis to label_ipar_LicensingAgreementsAxis" />
    <link:label xlink:type="resource" xlink:label="label_ipar_LicensingAgreementsAxis_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_LicensingAgreementsAxis_1" xml:lang="en-US" id="label_ipar_LicensingAgreementsAxis_1">Licensing Agreements [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_LicensingAgreementsAxis" xlink:to="label_ipar_LicensingAgreementsAxis_1" xlink:title="Label : ipar_LicensingAgreementsAxis to label_ipar_LicensingAgreementsAxis_1" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_BurberryMember" xlink:label="ipar_BurberryMember" xlink:title="ipar_BurberryMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_BurberryMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_BurberryMember" xml:lang="en-US" id="label_ipar_BurberryMember">Burberry [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_BurberryMember" xlink:to="label_ipar_BurberryMember" xlink:title="Label : ipar_BurberryMember to label_ipar_BurberryMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_BurberryMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_BurberryMember_1" xml:lang="en-US" id="label_ipar_BurberryMember_1">Burberry [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_BurberryMember" xlink:to="label_ipar_BurberryMember_1" xlink:title="Label : ipar_BurberryMember to label_ipar_BurberryMember_1" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_AgentProvocateurMember" xlink:label="ipar_AgentProvocateurMember" xlink:title="ipar_AgentProvocateurMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_AgentProvocateurMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_AgentProvocateurMember" xml:lang="en-US" id="label_ipar_AgentProvocateurMember">Agent Provocateur [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_AgentProvocateurMember" xlink:to="label_ipar_AgentProvocateurMember" xlink:title="Label : ipar_AgentProvocateurMember to label_ipar_AgentProvocateurMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_AgentProvocateurMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_AgentProvocateurMember_1" xml:lang="en-US" id="label_ipar_AgentProvocateurMember_1">Agent Provocateur [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_AgentProvocateurMember" xlink:to="label_ipar_AgentProvocateurMember_1" xlink:title="Label : ipar_AgentProvocateurMember to label_ipar_AgentProvocateurMember_1" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_AllocatedShareBasedCompensationExpensePerShareEffect" xlink:label="ipar_AllocatedShareBasedCompensationExpensePerShareEffect" xlink:title="ipar_AllocatedShareBasedCompensationExpensePerShareEffect" />
    <link:label xlink:type="resource" xlink:label="label_ipar_AllocatedShareBasedCompensationExpensePerShareEffect" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_AllocatedShareBasedCompensationExpensePerShareEffect" xml:lang="en-US" id="label_ipar_AllocatedShareBasedCompensationExpensePerShareEffect">Effect of share-based compensation expense on diluted earnings per share.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_AllocatedShareBasedCompensationExpensePerShareEffect" xlink:to="label_ipar_AllocatedShareBasedCompensationExpensePerShareEffect" xlink:title="Label : ipar_AllocatedShareBasedCompensationExpensePerShareEffect to label_ipar_AllocatedShareBasedCompensationExpensePerShareEffect" />
    <link:label xlink:type="resource" xlink:label="label_ipar_AllocatedShareBasedCompensationExpensePerShareEffect_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_AllocatedShareBasedCompensationExpensePerShareEffect_1" xml:lang="en-US" id="label_ipar_AllocatedShareBasedCompensationExpensePerShareEffect_1">Allocated Share Based Compensation Expense Per Share Effect</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_AllocatedShareBasedCompensationExpensePerShareEffect" xlink:to="label_ipar_AllocatedShareBasedCompensationExpensePerShareEffect_1" xlink:title="Label : ipar_AllocatedShareBasedCompensationExpensePerShareEffect to label_ipar_AllocatedShareBasedCompensationExpensePerShareEffect_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_AllocatedShareBasedCompensationExpensePerShareEffect_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_AllocatedShareBasedCompensationExpensePerShareEffect_2" xml:lang="en-US" id="label_ipar_AllocatedShareBasedCompensationExpensePerShareEffect_2">Decrease in diluted earnings per share attributable to Inter Parfums, Inc. due to share-based payment expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_AllocatedShareBasedCompensationExpensePerShareEffect" xlink:to="label_ipar_AllocatedShareBasedCompensationExpensePerShareEffect_2" xlink:title="Label : ipar_AllocatedShareBasedCompensationExpensePerShareEffect to label_ipar_AllocatedShareBasedCompensationExpensePerShareEffect_2" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_AnnaSuiMember" xlink:label="ipar_AnnaSuiMember" xlink:title="ipar_AnnaSuiMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_AnnaSuiMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_AnnaSuiMember" xml:lang="en-US" id="label_ipar_AnnaSuiMember">Anna Sui [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_AnnaSuiMember" xlink:to="label_ipar_AnnaSuiMember" xlink:title="Label : ipar_AnnaSuiMember to label_ipar_AnnaSuiMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_AnnaSuiMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_AnnaSuiMember_1" xml:lang="en-US" id="label_ipar_AnnaSuiMember_1">Anna Sui [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_AnnaSuiMember" xlink:to="label_ipar_AnnaSuiMember_1" xlink:title="Label : ipar_AnnaSuiMember to label_ipar_AnnaSuiMember_1" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_AssetsNoncurrentAdditions" xlink:label="ipar_AssetsNoncurrentAdditions" xlink:title="ipar_AssetsNoncurrentAdditions" />
    <link:label xlink:type="resource" xlink:label="label_ipar_AssetsNoncurrentAdditions" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_AssetsNoncurrentAdditions" xml:lang="en-US" id="label_ipar_AssetsNoncurrentAdditions">Aggregate carrying amount, as of the balance sheet date, of additions to noncurrent assets not separately disclosed in the balance sheet. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer).</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_AssetsNoncurrentAdditions" xlink:to="label_ipar_AssetsNoncurrentAdditions" xlink:title="Label : ipar_AssetsNoncurrentAdditions to label_ipar_AssetsNoncurrentAdditions" />
    <link:label xlink:type="resource" xlink:label="label_ipar_AssetsNoncurrentAdditions_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_AssetsNoncurrentAdditions_1" xml:lang="en-US" id="label_ipar_AssetsNoncurrentAdditions_1">Assets Noncurrent Additions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_AssetsNoncurrentAdditions" xlink:to="label_ipar_AssetsNoncurrentAdditions_1" xlink:title="Label : ipar_AssetsNoncurrentAdditions to label_ipar_AssetsNoncurrentAdditions_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_AssetsNoncurrentAdditions_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_AssetsNoncurrentAdditions_2" xml:lang="en-US" id="label_ipar_AssetsNoncurrentAdditions_2">Additions to long-lived assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_AssetsNoncurrentAdditions" xlink:to="label_ipar_AssetsNoncurrentAdditions_2" xlink:title="Label : ipar_AssetsNoncurrentAdditions to label_ipar_AssetsNoncurrentAdditions_2" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_ConcentrationRiskByProductAxis" xlink:label="ipar_ConcentrationRiskByProductAxis" xlink:title="ipar_ConcentrationRiskByProductAxis" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ConcentrationRiskByProductAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_ConcentrationRiskByProductAxis" xml:lang="en-US" id="label_ipar_ConcentrationRiskByProductAxis">Concentration Risk By Product [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ConcentrationRiskByProductAxis" xlink:to="label_ipar_ConcentrationRiskByProductAxis" xlink:title="Label : ipar_ConcentrationRiskByProductAxis to label_ipar_ConcentrationRiskByProductAxis" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ConcentrationRiskByProductAxis_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_ConcentrationRiskByProductAxis_1" xml:lang="en-US" id="label_ipar_ConcentrationRiskByProductAxis_1">Concentration Risk By Product [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ConcentrationRiskByProductAxis" xlink:to="label_ipar_ConcentrationRiskByProductAxis_1" xlink:title="Label : ipar_ConcentrationRiskByProductAxis to label_ipar_ConcentrationRiskByProductAxis_1" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_ConcentrationRiskByProductDomain" xlink:label="ipar_ConcentrationRiskByProductDomain" xlink:title="ipar_ConcentrationRiskByProductDomain" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ConcentrationRiskByProductDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_ConcentrationRiskByProductDomain" xml:lang="en-US" id="label_ipar_ConcentrationRiskByProductDomain">Concentration Risk By Product [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ConcentrationRiskByProductDomain" xlink:to="label_ipar_ConcentrationRiskByProductDomain" xlink:title="Label : ipar_ConcentrationRiskByProductDomain to label_ipar_ConcentrationRiskByProductDomain" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ConcentrationRiskByProductDomain_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_ConcentrationRiskByProductDomain_1" xml:lang="en-US" id="label_ipar_ConcentrationRiskByProductDomain_1">Concentration Risk By Product [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ConcentrationRiskByProductDomain" xlink:to="label_ipar_ConcentrationRiskByProductDomain_1" xlink:title="Label : ipar_ConcentrationRiskByProductDomain to label_ipar_ConcentrationRiskByProductDomain_1" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_DebtInstrumentVariableRate" xlink:label="ipar_DebtInstrumentVariableRate" xlink:title="ipar_DebtInstrumentVariableRate" />
    <link:label xlink:type="resource" xlink:label="label_ipar_DebtInstrumentVariableRate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_DebtInstrumentVariableRate" xml:lang="en-US" id="label_ipar_DebtInstrumentVariableRate">Variable rate at the end of the period used to calculate the interest rate on debt carried with a variable interet rate and basis spread.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_DebtInstrumentVariableRate" xlink:to="label_ipar_DebtInstrumentVariableRate" xlink:title="Label : ipar_DebtInstrumentVariableRate to label_ipar_DebtInstrumentVariableRate" />
    <link:label xlink:type="resource" xlink:label="label_ipar_DebtInstrumentVariableRate_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_DebtInstrumentVariableRate_1" xml:lang="en-US" id="label_ipar_DebtInstrumentVariableRate_1">Debt Instrument Variable Rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_DebtInstrumentVariableRate" xlink:to="label_ipar_DebtInstrumentVariableRate_1" xlink:title="Label : ipar_DebtInstrumentVariableRate to label_ipar_DebtInstrumentVariableRate_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_DebtInstrumentVariableRate_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_DebtInstrumentVariableRate_2" xml:lang="en-US" id="label_ipar_DebtInstrumentVariableRate_2">Variable rate</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_DebtInstrumentVariableRate" xlink:to="label_ipar_DebtInstrumentVariableRate_2" xlink:title="Label : ipar_DebtInstrumentVariableRate to label_ipar_DebtInstrumentVariableRate_2" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_DeferredFederalStateLocalAndForeignIncomeTaxExpenseBenefit" xlink:label="ipar_DeferredFederalStateLocalAndForeignIncomeTaxExpenseBenefit" xlink:title="ipar_DeferredFederalStateLocalAndForeignIncomeTaxExpenseBenefit" />
    <link:label xlink:type="resource" xlink:label="label_ipar_DeferredFederalStateLocalAndForeignIncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_DeferredFederalStateLocalAndForeignIncomeTaxExpenseBenefit" xml:lang="en-US" id="label_ipar_DeferredFederalStateLocalAndForeignIncomeTaxExpenseBenefit">Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations.</link:label>
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    <link:label xlink:type="resource" xlink:label="label_ipar_DeferredFederalStateLocalAndForeignIncomeTaxExpenseBenefit_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_DeferredFederalStateLocalAndForeignIncomeTaxExpenseBenefit_1" xml:lang="en-US" id="label_ipar_DeferredFederalStateLocalAndForeignIncomeTaxExpenseBenefit_1">Deferred Federal State Local And Foreign Income Tax Expense Benefit</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_DeferredFederalStateLocalAndForeignIncomeTaxExpenseBenefit" xlink:to="label_ipar_DeferredFederalStateLocalAndForeignIncomeTaxExpenseBenefit_1" xlink:title="Label : ipar_DeferredFederalStateLocalAndForeignIncomeTaxExpenseBenefit to label_ipar_DeferredFederalStateLocalAndForeignIncomeTaxExpenseBenefit_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_DeferredFederalStateLocalAndForeignIncomeTaxExpenseBenefit_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_ipar_DeferredFederalStateLocalAndForeignIncomeTaxExpenseBenefit_2" xml:lang="en-US" id="label_ipar_DeferredFederalStateLocalAndForeignIncomeTaxExpenseBenefit_2">Deferred income tax (benefit)</link:label>
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    <link:label xlink:type="resource" xlink:label="label_ipar_DeferredTaxAssetsInventoryAndAccountsReceivable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_DeferredTaxAssetsInventoryAndAccountsReceivable" xml:lang="en-US" id="label_ipar_DeferredTaxAssetsInventoryAndAccountsReceivable">Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from inventory and accounts receivable.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_DeferredTaxAssetsInventoryAndAccountsReceivable" xlink:to="label_ipar_DeferredTaxAssetsInventoryAndAccountsReceivable" xlink:title="Label : ipar_DeferredTaxAssetsInventoryAndAccountsReceivable to label_ipar_DeferredTaxAssetsInventoryAndAccountsReceivable" />
    <link:label xlink:type="resource" xlink:label="label_ipar_DeferredTaxAssetsInventoryAndAccountsReceivable_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_DeferredTaxAssetsInventoryAndAccountsReceivable_1" xml:lang="en-US" id="label_ipar_DeferredTaxAssetsInventoryAndAccountsReceivable_1">Deferred Tax Assets Inventory And Accounts Receivable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_DeferredTaxAssetsInventoryAndAccountsReceivable" xlink:to="label_ipar_DeferredTaxAssetsInventoryAndAccountsReceivable_1" xlink:title="Label : ipar_DeferredTaxAssetsInventoryAndAccountsReceivable to label_ipar_DeferredTaxAssetsInventoryAndAccountsReceivable_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_DeferredTaxAssetsInventoryAndAccountsReceivable_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_DeferredTaxAssetsInventoryAndAccountsReceivable_2" xml:lang="en-US" id="label_ipar_DeferredTaxAssetsInventoryAndAccountsReceivable_2">Inventory and accounts receivable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_DeferredTaxAssetsInventoryAndAccountsReceivable" xlink:to="label_ipar_DeferredTaxAssetsInventoryAndAccountsReceivable_2" xlink:title="Label : ipar_DeferredTaxAssetsInventoryAndAccountsReceivable to label_ipar_DeferredTaxAssetsInventoryAndAccountsReceivable_2" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_DocumentAndEntityInformationAbstract" xlink:label="ipar_DocumentAndEntityInformationAbstract" xlink:title="ipar_DocumentAndEntityInformationAbstract" />
    <link:label xlink:type="resource" xlink:label="label_ipar_DocumentAndEntityInformationAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_DocumentAndEntityInformationAbstract" xml:lang="en-US" id="label_ipar_DocumentAndEntityInformationAbstract">Document and Entity Information [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_DocumentAndEntityInformationAbstract" xlink:to="label_ipar_DocumentAndEntityInformationAbstract" xlink:title="Label : ipar_DocumentAndEntityInformationAbstract to label_ipar_DocumentAndEntityInformationAbstract" />
    <link:label xlink:type="resource" xlink:label="label_ipar_DocumentAndEntityInformationAbstract_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_DocumentAndEntityInformationAbstract_1" xml:lang="en-US" id="label_ipar_DocumentAndEntityInformationAbstract_1">Document and Entity Information [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_DocumentAndEntityInformationAbstract" xlink:to="label_ipar_DocumentAndEntityInformationAbstract_1" xlink:title="Label : ipar_DocumentAndEntityInformationAbstract to label_ipar_DocumentAndEntityInformationAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_AsiaMember" xlink:label="us-gaap_AsiaMember" xlink:title="us-gaap_AsiaMember" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AsiaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_AsiaMember" xml:lang="en-US" id="label_us-gaap_AsiaMember">Asia [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AsiaMember" xlink:to="label_us-gaap_AsiaMember" xlink:title="Label : us-gaap_AsiaMember to label_us-gaap_AsiaMember" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AsiaMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_AsiaMember_1" xml:lang="en-US" id="label_us-gaap_AsiaMember_1">Asia [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AsiaMember" xlink:to="label_us-gaap_AsiaMember_1" xlink:title="Label : us-gaap_AsiaMember to label_us-gaap_AsiaMember_1" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_DunhillMember" xlink:label="ipar_DunhillMember" xlink:title="ipar_DunhillMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_DunhillMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_DunhillMember" xml:lang="en-US" id="label_ipar_DunhillMember">Dunhill [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_DunhillMember" xlink:to="label_ipar_DunhillMember" xlink:title="Label : ipar_DunhillMember to label_ipar_DunhillMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_DunhillMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_DunhillMember_1" xml:lang="en-US" id="label_ipar_DunhillMember_1">Dunhill [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_DunhillMember" xlink:to="label_ipar_DunhillMember_1" xlink:title="Label : ipar_DunhillMember to label_ipar_DunhillMember_1" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_DupontMember" xlink:label="ipar_DupontMember" xlink:title="ipar_DupontMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_DupontMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_DupontMember" xml:lang="en-US" id="label_ipar_DupontMember">Dupont [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_DupontMember" xlink:to="label_ipar_DupontMember" xlink:title="Label : ipar_DupontMember to label_ipar_DupontMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_DupontMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_DupontMember_1" xml:lang="en-US" id="label_ipar_DupontMember_1">Dupont [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_DupontMember" xlink:to="label_ipar_DupontMember_1" xlink:title="Label : ipar_DupontMember to label_ipar_DupontMember_1" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_EarningsPerShareDilutedNumeratorAbstract" xlink:label="ipar_EarningsPerShareDilutedNumeratorAbstract" xlink:title="ipar_EarningsPerShareDilutedNumeratorAbstract" />
    <link:label xlink:type="resource" xlink:label="label_ipar_EarningsPerShareDilutedNumeratorAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_EarningsPerShareDilutedNumeratorAbstract" xml:lang="en-US" id="label_ipar_EarningsPerShareDilutedNumeratorAbstract">Earnings Per Share Diluted Numerator [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_EarningsPerShareDilutedNumeratorAbstract" xlink:to="label_ipar_EarningsPerShareDilutedNumeratorAbstract" xlink:title="Label : ipar_EarningsPerShareDilutedNumeratorAbstract to label_ipar_EarningsPerShareDilutedNumeratorAbstract" />
    <link:label xlink:type="resource" xlink:label="label_ipar_EarningsPerShareDilutedNumeratorAbstract_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_EarningsPerShareDilutedNumeratorAbstract_1" xml:lang="en-US" id="label_ipar_EarningsPerShareDilutedNumeratorAbstract_1">Earnings Per Share Diluted Numerator [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_EarningsPerShareDilutedNumeratorAbstract" xlink:to="label_ipar_EarningsPerShareDilutedNumeratorAbstract_1" xlink:title="Label : ipar_EarningsPerShareDilutedNumeratorAbstract to label_ipar_EarningsPerShareDilutedNumeratorAbstract_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_EarningsPerShareDilutedNumeratorAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_EarningsPerShareDilutedNumeratorAbstract_2" xml:lang="en-US" id="label_ipar_EarningsPerShareDilutedNumeratorAbstract_2">Numerator:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_EarningsPerShareDilutedNumeratorAbstract" xlink:to="label_ipar_EarningsPerShareDilutedNumeratorAbstract_2" xlink:title="Label : ipar_EarningsPerShareDilutedNumeratorAbstract to label_ipar_EarningsPerShareDilutedNumeratorAbstract_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="dei_CurrentFiscalYearEndDate" xlink:title="dei_CurrentFiscalYearEndDate" />
    <link:label xlink:type="resource" xlink:label="label_dei_CurrentFiscalYearEndDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_CurrentFiscalYearEndDate" xml:lang="en-US" id="label_dei_CurrentFiscalYearEndDate">Current Fiscal Year End Date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CurrentFiscalYearEndDate" xlink:to="label_dei_CurrentFiscalYearEndDate" xlink:title="Label : dei_CurrentFiscalYearEndDate to label_dei_CurrentFiscalYearEndDate" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_EquipmentAndLicenseAgreementsLineItems" xlink:label="ipar_EquipmentAndLicenseAgreementsLineItems" xlink:title="ipar_EquipmentAndLicenseAgreementsLineItems" />
    <link:label xlink:type="resource" xlink:label="label_ipar_EquipmentAndLicenseAgreementsLineItems" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_EquipmentAndLicenseAgreementsLineItems" xml:lang="en-US" id="label_ipar_EquipmentAndLicenseAgreementsLineItems">Equipment and License Agreements [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_EquipmentAndLicenseAgreementsLineItems" xlink:to="label_ipar_EquipmentAndLicenseAgreementsLineItems" xlink:title="Label : ipar_EquipmentAndLicenseAgreementsLineItems to label_ipar_EquipmentAndLicenseAgreementsLineItems" />
    <link:label xlink:type="resource" xlink:label="label_ipar_EquipmentAndLicenseAgreementsLineItems_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_EquipmentAndLicenseAgreementsLineItems_1" xml:lang="en-US" id="label_ipar_EquipmentAndLicenseAgreementsLineItems_1">Equipment and License Agreements [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_EquipmentAndLicenseAgreementsLineItems" xlink:to="label_ipar_EquipmentAndLicenseAgreementsLineItems_1" xlink:title="Label : ipar_EquipmentAndLicenseAgreementsLineItems to label_ipar_EquipmentAndLicenseAgreementsLineItems_1" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_EquipmentAndLicenseAgreementsTable" xlink:label="ipar_EquipmentAndLicenseAgreementsTable" xlink:title="ipar_EquipmentAndLicenseAgreementsTable" />
    <link:label xlink:type="resource" xlink:label="label_ipar_EquipmentAndLicenseAgreementsTable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_EquipmentAndLicenseAgreementsTable" xml:lang="en-US" id="label_ipar_EquipmentAndLicenseAgreementsTable">Equipment and License Agreements [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_EquipmentAndLicenseAgreementsTable" xlink:to="label_ipar_EquipmentAndLicenseAgreementsTable" xlink:title="Label : ipar_EquipmentAndLicenseAgreementsTable to label_ipar_EquipmentAndLicenseAgreementsTable" />
    <link:label xlink:type="resource" xlink:label="label_ipar_EquipmentAndLicenseAgreementsTable_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_EquipmentAndLicenseAgreementsTable_1" xml:lang="en-US" id="label_ipar_EquipmentAndLicenseAgreementsTable_1">Equipment And License Agreements [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_EquipmentAndLicenseAgreementsTable" xlink:to="label_ipar_EquipmentAndLicenseAgreementsTable_1" xlink:title="Label : ipar_EquipmentAndLicenseAgreementsTable to label_ipar_EquipmentAndLicenseAgreementsTable_1" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_EuroInterbankOfferedRateMember" xlink:label="ipar_EuroInterbankOfferedRateMember" xlink:title="ipar_EuroInterbankOfferedRateMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_EuroInterbankOfferedRateMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_EuroInterbankOfferedRateMember" xml:lang="en-US" id="label_ipar_EuroInterbankOfferedRateMember">Euro Interbank Offered Rate [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_EuroInterbankOfferedRateMember" xlink:to="label_ipar_EuroInterbankOfferedRateMember" xlink:title="Label : ipar_EuroInterbankOfferedRateMember to label_ipar_EuroInterbankOfferedRateMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_EuroInterbankOfferedRateMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_EuroInterbankOfferedRateMember_1" xml:lang="en-US" id="label_ipar_EuroInterbankOfferedRateMember_1">Euro Interbank Offered Rate [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_EuroInterbankOfferedRateMember" xlink:to="label_ipar_EuroInterbankOfferedRateMember_1" xlink:title="Label : ipar_EuroInterbankOfferedRateMember to label_ipar_EuroInterbankOfferedRateMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_EuroInterbankOfferedRateMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_EuroInterbankOfferedRateMember_2" xml:lang="en-US" id="label_ipar_EuroInterbankOfferedRateMember_2">EURIBOR [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_EuroInterbankOfferedRateMember" xlink:to="label_ipar_EuroInterbankOfferedRateMember_2" xlink:title="Label : ipar_EuroInterbankOfferedRateMember to label_ipar_EuroInterbankOfferedRateMember_2" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_ExercisePriceRangeEightMember" xlink:label="ipar_ExercisePriceRangeEightMember" xlink:title="ipar_ExercisePriceRangeEightMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ExercisePriceRangeEightMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_ExercisePriceRangeEightMember" xml:lang="en-US" id="label_ipar_ExercisePriceRangeEightMember">Exercise Price Range Eight [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ExercisePriceRangeEightMember" xlink:to="label_ipar_ExercisePriceRangeEightMember" xlink:title="Label : ipar_ExercisePriceRangeEightMember to label_ipar_ExercisePriceRangeEightMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ExercisePriceRangeEightMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_ExercisePriceRangeEightMember_1" xml:lang="en-US" id="label_ipar_ExercisePriceRangeEightMember_1">Exercise Price Range Eight [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ExercisePriceRangeEightMember" xlink:to="label_ipar_ExercisePriceRangeEightMember_1" xlink:title="Label : ipar_ExercisePriceRangeEightMember to label_ipar_ExercisePriceRangeEightMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ExercisePriceRangeEightMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_ExercisePriceRangeEightMember_2" xml:lang="en-US" id="label_ipar_ExercisePriceRangeEightMember_2">$21.76 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ExercisePriceRangeEightMember" xlink:to="label_ipar_ExercisePriceRangeEightMember_2" xlink:title="Label : ipar_ExercisePriceRangeEightMember to label_ipar_ExercisePriceRangeEightMember_2" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_ExercisePriceRangeFiveMember" xlink:label="ipar_ExercisePriceRangeFiveMember" xlink:title="ipar_ExercisePriceRangeFiveMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ExercisePriceRangeFiveMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_ExercisePriceRangeFiveMember" xml:lang="en-US" id="label_ipar_ExercisePriceRangeFiveMember">Exercise Price Range Five [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ExercisePriceRangeFiveMember" xlink:to="label_ipar_ExercisePriceRangeFiveMember" xlink:title="Label : ipar_ExercisePriceRangeFiveMember to label_ipar_ExercisePriceRangeFiveMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ExercisePriceRangeFiveMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_ExercisePriceRangeFiveMember_1" xml:lang="en-US" id="label_ipar_ExercisePriceRangeFiveMember_1">Exercise Price Range Five [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ExercisePriceRangeFiveMember" xlink:to="label_ipar_ExercisePriceRangeFiveMember_1" xlink:title="Label : ipar_ExercisePriceRangeFiveMember to label_ipar_ExercisePriceRangeFiveMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ExercisePriceRangeFiveMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_ExercisePriceRangeFiveMember_2" xml:lang="en-US" id="label_ipar_ExercisePriceRangeFiveMember_2">$15.59 - $15.62 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ExercisePriceRangeFiveMember" xlink:to="label_ipar_ExercisePriceRangeFiveMember_2" xlink:title="Label : ipar_ExercisePriceRangeFiveMember to label_ipar_ExercisePriceRangeFiveMember_2" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_ExercisePriceRangeFourMember" xlink:label="ipar_ExercisePriceRangeFourMember" xlink:title="ipar_ExercisePriceRangeFourMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ExercisePriceRangeFourMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_ExercisePriceRangeFourMember" xml:lang="en-US" id="label_ipar_ExercisePriceRangeFourMember">Exercise Price Range Four [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ExercisePriceRangeFourMember" xlink:to="label_ipar_ExercisePriceRangeFourMember" xlink:title="Label : ipar_ExercisePriceRangeFourMember to label_ipar_ExercisePriceRangeFourMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ExercisePriceRangeFourMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_ExercisePriceRangeFourMember_1" xml:lang="en-US" id="label_ipar_ExercisePriceRangeFourMember_1">Exercise Price Range Four [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ExercisePriceRangeFourMember" xlink:to="label_ipar_ExercisePriceRangeFourMember_1" xlink:title="Label : ipar_ExercisePriceRangeFourMember to label_ipar_ExercisePriceRangeFourMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ExercisePriceRangeFourMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_ExercisePriceRangeFourMember_2" xml:lang="en-US" id="label_ipar_ExercisePriceRangeFourMember_2">$13.45 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ExercisePriceRangeFourMember" xlink:to="label_ipar_ExercisePriceRangeFourMember_2" xlink:title="Label : ipar_ExercisePriceRangeFourMember to label_ipar_ExercisePriceRangeFourMember_2" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_ExercisePriceRangeNineMember" xlink:label="ipar_ExercisePriceRangeNineMember" xlink:title="ipar_ExercisePriceRangeNineMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ExercisePriceRangeNineMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_ExercisePriceRangeNineMember" xml:lang="en-US" id="label_ipar_ExercisePriceRangeNineMember">Exercise Price Range Nine [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ExercisePriceRangeNineMember" xlink:to="label_ipar_ExercisePriceRangeNineMember" xlink:title="Label : ipar_ExercisePriceRangeNineMember to label_ipar_ExercisePriceRangeNineMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ExercisePriceRangeNineMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_ExercisePriceRangeNineMember_1" xml:lang="en-US" id="label_ipar_ExercisePriceRangeNineMember_1">Exercise Price Range Nine [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ExercisePriceRangeNineMember" xlink:to="label_ipar_ExercisePriceRangeNineMember_1" xlink:title="Label : ipar_ExercisePriceRangeNineMember to label_ipar_ExercisePriceRangeNineMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ExercisePriceRangeNineMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_ExercisePriceRangeNineMember_2" xml:lang="en-US" id="label_ipar_ExercisePriceRangeNineMember_2">$22.20 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ExercisePriceRangeNineMember" xlink:to="label_ipar_ExercisePriceRangeNineMember_2" xlink:title="Label : ipar_ExercisePriceRangeNineMember to label_ipar_ExercisePriceRangeNineMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_AwardTypeAxis" xlink:label="us-gaap_AwardTypeAxis" xlink:title="us-gaap_AwardTypeAxis" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AwardTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_AwardTypeAxis" xml:lang="en-US" id="label_us-gaap_AwardTypeAxis">Award Type [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AwardTypeAxis" xlink:to="label_us-gaap_AwardTypeAxis" xlink:title="Label : us-gaap_AwardTypeAxis to label_us-gaap_AwardTypeAxis" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_ExercisePriceRangeOneMember" xlink:label="ipar_ExercisePriceRangeOneMember" xlink:title="ipar_ExercisePriceRangeOneMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ExercisePriceRangeOneMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_ExercisePriceRangeOneMember" xml:lang="en-US" id="label_ipar_ExercisePriceRangeOneMember">Exercise Price Range One [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ExercisePriceRangeOneMember" xlink:to="label_ipar_ExercisePriceRangeOneMember" xlink:title="Label : ipar_ExercisePriceRangeOneMember to label_ipar_ExercisePriceRangeOneMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ExercisePriceRangeOneMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_ExercisePriceRangeOneMember_1" xml:lang="en-US" id="label_ipar_ExercisePriceRangeOneMember_1">Exercise Price Range One [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ExercisePriceRangeOneMember" xlink:to="label_ipar_ExercisePriceRangeOneMember_1" xlink:title="Label : ipar_ExercisePriceRangeOneMember to label_ipar_ExercisePriceRangeOneMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ExercisePriceRangeOneMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_ExercisePriceRangeOneMember_2" xml:lang="en-US" id="label_ipar_ExercisePriceRangeOneMember_2">$6.15 - $6.93 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ExercisePriceRangeOneMember" xlink:to="label_ipar_ExercisePriceRangeOneMember_2" xlink:title="Label : ipar_ExercisePriceRangeOneMember to label_ipar_ExercisePriceRangeOneMember_2" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_ExercisePriceRangeSevenMember" xlink:label="ipar_ExercisePriceRangeSevenMember" xlink:title="ipar_ExercisePriceRangeSevenMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ExercisePriceRangeSevenMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_ExercisePriceRangeSevenMember" xml:lang="en-US" id="label_ipar_ExercisePriceRangeSevenMember">Exercise Price Range Seven [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ExercisePriceRangeSevenMember" xlink:to="label_ipar_ExercisePriceRangeSevenMember" xlink:title="Label : ipar_ExercisePriceRangeSevenMember to label_ipar_ExercisePriceRangeSevenMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ExercisePriceRangeSevenMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_ExercisePriceRangeSevenMember_1" xml:lang="en-US" id="label_ipar_ExercisePriceRangeSevenMember_1">Exercise Price Range Seven [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ExercisePriceRangeSevenMember" xlink:to="label_ipar_ExercisePriceRangeSevenMember_1" xlink:title="Label : ipar_ExercisePriceRangeSevenMember to label_ipar_ExercisePriceRangeSevenMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ExercisePriceRangeSevenMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_ExercisePriceRangeSevenMember_2" xml:lang="en-US" id="label_ipar_ExercisePriceRangeSevenMember_2">$19.03 - $19.33 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ExercisePriceRangeSevenMember" xlink:to="label_ipar_ExercisePriceRangeSevenMember_2" xlink:title="Label : ipar_ExercisePriceRangeSevenMember to label_ipar_ExercisePriceRangeSevenMember_2" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_ExercisePriceRangeSixMember" xlink:label="ipar_ExercisePriceRangeSixMember" xlink:title="ipar_ExercisePriceRangeSixMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ExercisePriceRangeSixMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_ExercisePriceRangeSixMember" xml:lang="en-US" id="label_ipar_ExercisePriceRangeSixMember">Exercise Price Range Six [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ExercisePriceRangeSixMember" xlink:to="label_ipar_ExercisePriceRangeSixMember" xlink:title="Label : ipar_ExercisePriceRangeSixMember to label_ipar_ExercisePriceRangeSixMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ExercisePriceRangeSixMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_ExercisePriceRangeSixMember_1" xml:lang="en-US" id="label_ipar_ExercisePriceRangeSixMember_1">Exercise Price Range Six [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ExercisePriceRangeSixMember" xlink:to="label_ipar_ExercisePriceRangeSixMember_1" xlink:title="Label : ipar_ExercisePriceRangeSixMember to label_ipar_ExercisePriceRangeSixMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ExercisePriceRangeSixMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_ExercisePriceRangeSixMember_2" xml:lang="en-US" id="label_ipar_ExercisePriceRangeSixMember_2">$17.07 - $17.94 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ExercisePriceRangeSixMember" xlink:to="label_ipar_ExercisePriceRangeSixMember_2" xlink:title="Label : ipar_ExercisePriceRangeSixMember to label_ipar_ExercisePriceRangeSixMember_2" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_ExercisePriceRangeTenMember" xlink:label="ipar_ExercisePriceRangeTenMember" xlink:title="ipar_ExercisePriceRangeTenMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ExercisePriceRangeTenMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_ExercisePriceRangeTenMember" xml:lang="en-US" id="label_ipar_ExercisePriceRangeTenMember">Exercise Price Range Ten [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ExercisePriceRangeTenMember" xlink:to="label_ipar_ExercisePriceRangeTenMember" xlink:title="Label : ipar_ExercisePriceRangeTenMember to label_ipar_ExercisePriceRangeTenMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ExercisePriceRangeTenMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_ExercisePriceRangeTenMember_1" xml:lang="en-US" id="label_ipar_ExercisePriceRangeTenMember_1">Exercise Price Range Ten [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ExercisePriceRangeTenMember" xlink:to="label_ipar_ExercisePriceRangeTenMember_1" xlink:title="Label : ipar_ExercisePriceRangeTenMember to label_ipar_ExercisePriceRangeTenMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ExercisePriceRangeTenMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_ExercisePriceRangeTenMember_2" xml:lang="en-US" id="label_ipar_ExercisePriceRangeTenMember_2">$35.75 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ExercisePriceRangeTenMember" xlink:to="label_ipar_ExercisePriceRangeTenMember_2" xlink:title="Label : ipar_ExercisePriceRangeTenMember to label_ipar_ExercisePriceRangeTenMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="dei_DocumentPeriodEndDate" xlink:title="dei_DocumentPeriodEndDate" />
    <link:label xlink:type="resource" xlink:label="label_dei_DocumentPeriodEndDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_DocumentPeriodEndDate" xml:lang="en-US" id="label_dei_DocumentPeriodEndDate">Document Period End Date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="label_dei_DocumentPeriodEndDate" xlink:title="Label : dei_DocumentPeriodEndDate to label_dei_DocumentPeriodEndDate" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_ExercisePriceRangeThreeMember" xlink:label="ipar_ExercisePriceRangeThreeMember" xlink:title="ipar_ExercisePriceRangeThreeMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ExercisePriceRangeThreeMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_ExercisePriceRangeThreeMember" xml:lang="en-US" id="label_ipar_ExercisePriceRangeThreeMember">Exercise Price Range Three [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ExercisePriceRangeThreeMember" xlink:to="label_ipar_ExercisePriceRangeThreeMember" xlink:title="Label : ipar_ExercisePriceRangeThreeMember to label_ipar_ExercisePriceRangeThreeMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ExercisePriceRangeThreeMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_ExercisePriceRangeThreeMember_1" xml:lang="en-US" id="label_ipar_ExercisePriceRangeThreeMember_1">Exercise Price Range Three [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ExercisePriceRangeThreeMember" xlink:to="label_ipar_ExercisePriceRangeThreeMember_1" xlink:title="Label : ipar_ExercisePriceRangeThreeMember to label_ipar_ExercisePriceRangeThreeMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ExercisePriceRangeThreeMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_ExercisePriceRangeThreeMember_2" xml:lang="en-US" id="label_ipar_ExercisePriceRangeThreeMember_2">$12.14 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ExercisePriceRangeThreeMember" xlink:to="label_ipar_ExercisePriceRangeThreeMember_2" xlink:title="Label : ipar_ExercisePriceRangeThreeMember to label_ipar_ExercisePriceRangeThreeMember_2" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_ExercisePriceRangeTwoMember" xlink:label="ipar_ExercisePriceRangeTwoMember" xlink:title="ipar_ExercisePriceRangeTwoMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ExercisePriceRangeTwoMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_ExercisePriceRangeTwoMember" xml:lang="en-US" id="label_ipar_ExercisePriceRangeTwoMember">Exercise Price Range Two [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ExercisePriceRangeTwoMember" xlink:to="label_ipar_ExercisePriceRangeTwoMember" xlink:title="Label : ipar_ExercisePriceRangeTwoMember to label_ipar_ExercisePriceRangeTwoMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ExercisePriceRangeTwoMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_ExercisePriceRangeTwoMember_1" xml:lang="en-US" id="label_ipar_ExercisePriceRangeTwoMember_1">Exercise Price Range Two [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ExercisePriceRangeTwoMember" xlink:to="label_ipar_ExercisePriceRangeTwoMember_1" xlink:title="Label : ipar_ExercisePriceRangeTwoMember to label_ipar_ExercisePriceRangeTwoMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ExercisePriceRangeTwoMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_ExercisePriceRangeTwoMember_2" xml:lang="en-US" id="label_ipar_ExercisePriceRangeTwoMember_2">$11.30 - $11.41 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ExercisePriceRangeTwoMember" xlink:to="label_ipar_ExercisePriceRangeTwoMember_2" xlink:title="Label : ipar_ExercisePriceRangeTwoMember to label_ipar_ExercisePriceRangeTwoMember_2" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_ExportSales" xlink:label="ipar_ExportSales" xlink:title="ipar_ExportSales" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ExportSales" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_ExportSales" xml:lang="en-US" id="label_ipar_ExportSales">Sales from export over the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ExportSales" xlink:to="label_ipar_ExportSales" xlink:title="Label : ipar_ExportSales to label_ipar_ExportSales" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ExportSales_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_ExportSales_1" xml:lang="en-US" id="label_ipar_ExportSales_1">Export Sales</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ExportSales" xlink:to="label_ipar_ExportSales_1" xlink:title="Label : ipar_ExportSales to label_ipar_ExportSales_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ExportSales_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_ExportSales_2" xml:lang="en-US" id="label_ipar_ExportSales_2">Export sales</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ExportSales" xlink:to="label_ipar_ExportSales_2" xlink:title="Label : ipar_ExportSales to label_ipar_ExportSales_2" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_ForeignSubsidiariesMember" xlink:label="ipar_ForeignSubsidiariesMember" xlink:title="ipar_ForeignSubsidiariesMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ForeignSubsidiariesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_ForeignSubsidiariesMember" xml:lang="en-US" id="label_ipar_ForeignSubsidiariesMember">Foreign Subsidiaries [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ForeignSubsidiariesMember" xlink:to="label_ipar_ForeignSubsidiariesMember" xlink:title="Label : ipar_ForeignSubsidiariesMember to label_ipar_ForeignSubsidiariesMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ForeignSubsidiariesMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_ForeignSubsidiariesMember_1" xml:lang="en-US" id="label_ipar_ForeignSubsidiariesMember_1">Foreign Subsidiaries [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ForeignSubsidiariesMember" xlink:to="label_ipar_ForeignSubsidiariesMember_1" xlink:title="Label : ipar_ForeignSubsidiariesMember to label_ipar_ForeignSubsidiariesMember_1" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_GainLossOnContractTerminationAvailableToCommonShareholders" xlink:label="ipar_GainLossOnContractTerminationAvailableToCommonShareholders" xlink:title="ipar_GainLossOnContractTerminationAvailableToCommonShareholders" />
    <link:label xlink:type="resource" xlink:label="label_ipar_GainLossOnContractTerminationAvailableToCommonShareholders" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_GainLossOnContractTerminationAvailableToCommonShareholders" xml:lang="en-US" id="label_ipar_GainLossOnContractTerminationAvailableToCommonShareholders">Gain (loss) available to common shareholders related to the termination of a contract between the parties.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_GainLossOnContractTerminationAvailableToCommonShareholders" xlink:to="label_ipar_GainLossOnContractTerminationAvailableToCommonShareholders" xlink:title="Label : ipar_GainLossOnContractTerminationAvailableToCommonShareholders to label_ipar_GainLossOnContractTerminationAvailableToCommonShareholders" />
    <link:label xlink:type="resource" xlink:label="label_ipar_GainLossOnContractTerminationAvailableToCommonShareholders_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_GainLossOnContractTerminationAvailableToCommonShareholders_1" xml:lang="en-US" id="label_ipar_GainLossOnContractTerminationAvailableToCommonShareholders_1">Gain (Loss) on Contract Termination Available to Common Shareholders</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_GainLossOnContractTerminationAvailableToCommonShareholders" xlink:to="label_ipar_GainLossOnContractTerminationAvailableToCommonShareholders_1" xlink:title="Label : ipar_GainLossOnContractTerminationAvailableToCommonShareholders to label_ipar_GainLossOnContractTerminationAvailableToCommonShareholders_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_GainLossOnContractTerminationAvailableToCommonShareholders_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_GainLossOnContractTerminationAvailableToCommonShareholders_2" xml:lang="en-US" id="label_ipar_GainLossOnContractTerminationAvailableToCommonShareholders_2">Gain on license termination available to common shareholders</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_GainLossOnContractTerminationAvailableToCommonShareholders" xlink:to="label_ipar_GainLossOnContractTerminationAvailableToCommonShareholders_2" xlink:title="Label : ipar_GainLossOnContractTerminationAvailableToCommonShareholders to label_ipar_GainLossOnContractTerminationAvailableToCommonShareholders_2" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_IntangibleAssetsAccumulatedAmortization" xlink:label="ipar_IntangibleAssetsAccumulatedAmortization" xlink:title="ipar_IntangibleAssetsAccumulatedAmortization" />
    <link:label xlink:type="resource" xlink:label="label_ipar_IntangibleAssetsAccumulatedAmortization" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_IntangibleAssetsAccumulatedAmortization" xml:lang="en-US" id="label_ipar_IntangibleAssetsAccumulatedAmortization">Accumulated amortization for all intangible assets.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_IntangibleAssetsAccumulatedAmortization" xlink:to="label_ipar_IntangibleAssetsAccumulatedAmortization" xlink:title="Label : ipar_IntangibleAssetsAccumulatedAmortization to label_ipar_IntangibleAssetsAccumulatedAmortization" />
    <link:label xlink:type="resource" xlink:label="label_ipar_IntangibleAssetsAccumulatedAmortization_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_IntangibleAssetsAccumulatedAmortization_1" xml:lang="en-US" id="label_ipar_IntangibleAssetsAccumulatedAmortization_1">Intangible Assets Accumulated Amortization</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_IntangibleAssetsAccumulatedAmortization" xlink:to="label_ipar_IntangibleAssetsAccumulatedAmortization_1" xlink:title="Label : ipar_IntangibleAssetsAccumulatedAmortization to label_ipar_IntangibleAssetsAccumulatedAmortization_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_IntangibleAssetsAccumulatedAmortization_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_IntangibleAssetsAccumulatedAmortization_2" xml:lang="en-US" id="label_ipar_IntangibleAssetsAccumulatedAmortization_2">Total Accumulated Amortization</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_IntangibleAssetsAccumulatedAmortization" xlink:to="label_ipar_IntangibleAssetsAccumulatedAmortization_2" xlink:title="Label : ipar_IntangibleAssetsAccumulatedAmortization to label_ipar_IntangibleAssetsAccumulatedAmortization_2" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_IntangibleAssetsGross" xlink:label="ipar_IntangibleAssetsGross" xlink:title="ipar_IntangibleAssetsGross" />
    <link:label xlink:type="resource" xlink:label="label_ipar_IntangibleAssetsGross" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_IntangibleAssetsGross" xml:lang="en-US" id="label_ipar_IntangibleAssetsGross">Sum of the costs of all intangible assets.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_IntangibleAssetsGross" xlink:to="label_ipar_IntangibleAssetsGross" xlink:title="Label : ipar_IntangibleAssetsGross to label_ipar_IntangibleAssetsGross" />
    <link:label xlink:type="resource" xlink:label="label_ipar_IntangibleAssetsGross_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_IntangibleAssetsGross_1" xml:lang="en-US" id="label_ipar_IntangibleAssetsGross_1">Intangible Assets Gross</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_IntangibleAssetsGross" xlink:to="label_ipar_IntangibleAssetsGross_1" xlink:title="Label : ipar_IntangibleAssetsGross to label_ipar_IntangibleAssetsGross_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_IntangibleAssetsGross_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_IntangibleAssetsGross_2" xml:lang="en-US" id="label_ipar_IntangibleAssetsGross_2">Total Gross Amount</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_IntangibleAssetsGross" xlink:to="label_ipar_IntangibleAssetsGross_2" xlink:title="Label : ipar_IntangibleAssetsGross to label_ipar_IntangibleAssetsGross_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/invest/2013/invest-2013-01-31.xsd#invest_DerivativeNotionalAmount" xlink:label="invest_DerivativeNotionalAmount" xlink:title="invest_DerivativeNotionalAmount" />
    <link:label xlink:type="resource" xlink:label="label_invest_DerivativeNotionalAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_invest_DerivativeNotionalAmount" xml:lang="en-US" id="label_invest_DerivativeNotionalAmount">Derivative, Notional Amount</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="invest_DerivativeNotionalAmount" xlink:to="label_invest_DerivativeNotionalAmount" xlink:title="Label : invest_DerivativeNotionalAmount to label_invest_DerivativeNotionalAmount" />
    <link:label xlink:type="resource" xlink:label="label_invest_DerivativeNotionalAmount_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_invest_DerivativeNotionalAmount_1" xml:lang="en-US" id="label_invest_DerivativeNotionalAmount_1">Notional amount</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="invest_DerivativeNotionalAmount" xlink:to="label_invest_DerivativeNotionalAmount_1" xlink:title="Label : invest_DerivativeNotionalAmount to label_invest_DerivativeNotionalAmount_1" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_JimmyChooMember" xlink:label="ipar_JimmyChooMember" xlink:title="ipar_JimmyChooMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_JimmyChooMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_JimmyChooMember" xml:lang="en-US" id="label_ipar_JimmyChooMember">Jimmy Choo [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_JimmyChooMember" xlink:to="label_ipar_JimmyChooMember" xlink:title="Label : ipar_JimmyChooMember to label_ipar_JimmyChooMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_JimmyChooMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_JimmyChooMember_1" xml:lang="en-US" id="label_ipar_JimmyChooMember_1">Jimmy Choo [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_JimmyChooMember" xlink:to="label_ipar_JimmyChooMember_1" xlink:title="Label : ipar_JimmyChooMember to label_ipar_JimmyChooMember_1" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_KarlLagerfeldMember" xlink:label="ipar_KarlLagerfeldMember" xlink:title="ipar_KarlLagerfeldMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_KarlLagerfeldMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_KarlLagerfeldMember" xml:lang="en-US" id="label_ipar_KarlLagerfeldMember">Karl Lagerfeld [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_KarlLagerfeldMember" xlink:to="label_ipar_KarlLagerfeldMember" xlink:title="Label : ipar_KarlLagerfeldMember to label_ipar_KarlLagerfeldMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_KarlLagerfeldMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_KarlLagerfeldMember_1" xml:lang="en-US" id="label_ipar_KarlLagerfeldMember_1">Karl Lagerfeld [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_KarlLagerfeldMember" xlink:to="label_ipar_KarlLagerfeldMember_1" xlink:title="Label : ipar_KarlLagerfeldMember to label_ipar_KarlLagerfeldMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:title="dei_EntityDomain" />
    <link:label xlink:type="resource" xlink:label="label_dei_EntityDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_EntityDomain" xml:lang="en-US" id="label_dei_EntityDomain">Entity [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityDomain" xlink:to="label_dei_EntityDomain" xlink:title="Label : dei_EntityDomain to label_dei_EntityDomain" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_LanvinMember" xlink:label="ipar_LanvinMember" xlink:title="ipar_LanvinMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_LanvinMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_LanvinMember" xml:lang="en-US" id="label_ipar_LanvinMember">Lanvin [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_LanvinMember" xlink:to="label_ipar_LanvinMember" xlink:title="Label : ipar_LanvinMember to label_ipar_LanvinMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_LanvinMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_LanvinMember_1" xml:lang="en-US" id="label_ipar_LanvinMember_1">Lanvin [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_LanvinMember" xlink:to="label_ipar_LanvinMember_1" xlink:title="Label : ipar_LanvinMember to label_ipar_LanvinMember_1" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_LicenseAgreementTerm" xlink:label="ipar_LicenseAgreementTerm" xlink:title="ipar_LicenseAgreementTerm" />
    <link:label xlink:type="resource" xlink:label="label_ipar_LicenseAgreementTerm" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_LicenseAgreementTerm" xml:lang="en-US" id="label_ipar_LicenseAgreementTerm">Term of a license agreement.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_LicenseAgreementTerm" xlink:to="label_ipar_LicenseAgreementTerm" xlink:title="Label : ipar_LicenseAgreementTerm to label_ipar_LicenseAgreementTerm" />
    <link:label xlink:type="resource" xlink:label="label_ipar_LicenseAgreementTerm_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_LicenseAgreementTerm_1" xml:lang="en-US" id="label_ipar_LicenseAgreementTerm_1">License Agreement Term</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_LicenseAgreementTerm" xlink:to="label_ipar_LicenseAgreementTerm_1" xlink:title="Label : ipar_LicenseAgreementTerm to label_ipar_LicenseAgreementTerm_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_LicenseAgreementTerm_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_LicenseAgreementTerm_2" xml:lang="en-US" id="label_ipar_LicenseAgreementTerm_2">License agreement term</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_LicenseAgreementTerm" xlink:to="label_ipar_LicenseAgreementTerm_2" xlink:title="Label : ipar_LicenseAgreementTerm to label_ipar_LicenseAgreementTerm_2" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_LicenseAgreementTermRenewal" xlink:label="ipar_LicenseAgreementTermRenewal" xlink:title="ipar_LicenseAgreementTermRenewal" />
    <link:label xlink:type="resource" xlink:label="label_ipar_LicenseAgreementTermRenewal" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_LicenseAgreementTermRenewal" xml:lang="en-US" id="label_ipar_LicenseAgreementTermRenewal">Duration of renewal period for license agreements.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_LicenseAgreementTermRenewal" xlink:to="label_ipar_LicenseAgreementTermRenewal" xlink:title="Label : ipar_LicenseAgreementTermRenewal to label_ipar_LicenseAgreementTermRenewal" />
    <link:label xlink:type="resource" xlink:label="label_ipar_LicenseAgreementTermRenewal_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_LicenseAgreementTermRenewal_1" xml:lang="en-US" id="label_ipar_LicenseAgreementTermRenewal_1">License Agreement Term Renewal</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_LicenseAgreementTermRenewal" xlink:to="label_ipar_LicenseAgreementTermRenewal_1" xlink:title="Label : ipar_LicenseAgreementTermRenewal to label_ipar_LicenseAgreementTermRenewal_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_LicenseAgreementTermRenewal_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_LicenseAgreementTermRenewal_2" xml:lang="en-US" id="label_ipar_LicenseAgreementTermRenewal_2">License agreement renwal term</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_LicenseAgreementTermRenewal" xlink:to="label_ipar_LicenseAgreementTermRenewal_2" xlink:title="Label : ipar_LicenseAgreementTermRenewal to label_ipar_LicenseAgreementTermRenewal_2" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_LicensingAgreementsDomain" xlink:label="ipar_LicensingAgreementsDomain" xlink:title="ipar_LicensingAgreementsDomain" />
    <link:label xlink:type="resource" xlink:label="label_ipar_LicensingAgreementsDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_LicensingAgreementsDomain" xml:lang="en-US" id="label_ipar_LicensingAgreementsDomain">Licensing Agreements [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_LicensingAgreementsDomain" xlink:to="label_ipar_LicensingAgreementsDomain" xlink:title="Label : ipar_LicensingAgreementsDomain to label_ipar_LicensingAgreementsDomain" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_LicensingAgreementsLineItems" xlink:label="ipar_LicensingAgreementsLineItems" xlink:title="ipar_LicensingAgreementsLineItems" />
    <link:label xlink:type="resource" xlink:label="label_ipar_LicensingAgreementsLineItems" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_LicensingAgreementsLineItems" xml:lang="en-US" id="label_ipar_LicensingAgreementsLineItems">Licensing Agreements [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_LicensingAgreementsLineItems" xlink:to="label_ipar_LicensingAgreementsLineItems" xlink:title="Label : ipar_LicensingAgreementsLineItems to label_ipar_LicensingAgreementsLineItems" />
    <link:label xlink:type="resource" xlink:label="label_ipar_LicensingAgreementsLineItems_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_LicensingAgreementsLineItems_1" xml:lang="en-US" id="label_ipar_LicensingAgreementsLineItems_1">Licensing Agreements [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_LicensingAgreementsLineItems" xlink:to="label_ipar_LicensingAgreementsLineItems_1" xlink:title="Label : ipar_LicensingAgreementsLineItems to label_ipar_LicensingAgreementsLineItems_1" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_LicensingAgreementsRepurchasePrice" xlink:label="ipar_LicensingAgreementsRepurchasePrice" xlink:title="ipar_LicensingAgreementsRepurchasePrice" />
    <link:label xlink:type="resource" xlink:label="label_ipar_LicensingAgreementsRepurchasePrice" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_LicensingAgreementsRepurchasePrice" xml:lang="en-US" id="label_ipar_LicensingAgreementsRepurchasePrice">Repurchase price for licensing agreements or related intangible assets.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_LicensingAgreementsRepurchasePrice" xlink:to="label_ipar_LicensingAgreementsRepurchasePrice" xlink:title="Label : ipar_LicensingAgreementsRepurchasePrice to label_ipar_LicensingAgreementsRepurchasePrice" />
    <link:label xlink:type="resource" xlink:label="label_ipar_LicensingAgreementsRepurchasePrice_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_LicensingAgreementsRepurchasePrice_1" xml:lang="en-US" id="label_ipar_LicensingAgreementsRepurchasePrice_1">Licensing Agreements Repurchase Price</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_LicensingAgreementsRepurchasePrice" xlink:to="label_ipar_LicensingAgreementsRepurchasePrice_1" xlink:title="Label : ipar_LicensingAgreementsRepurchasePrice to label_ipar_LicensingAgreementsRepurchasePrice_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_LicensingAgreementsRepurchasePrice_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_LicensingAgreementsRepurchasePrice_2" xml:lang="en-US" id="label_ipar_LicensingAgreementsRepurchasePrice_2">Repurchase price</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_LicensingAgreementsRepurchasePrice" xlink:to="label_ipar_LicensingAgreementsRepurchasePrice_2" xlink:title="Label : ipar_LicensingAgreementsRepurchasePrice to label_ipar_LicensingAgreementsRepurchasePrice_2" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_LicensingAgreementsTable" xlink:label="ipar_LicensingAgreementsTable" xlink:title="ipar_LicensingAgreementsTable" />
    <link:label xlink:type="resource" xlink:label="label_ipar_LicensingAgreementsTable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_LicensingAgreementsTable" xml:lang="en-US" id="label_ipar_LicensingAgreementsTable">Licensing Agreements [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_LicensingAgreementsTable" xlink:to="label_ipar_LicensingAgreementsTable" xlink:title="Label : ipar_LicensingAgreementsTable to label_ipar_LicensingAgreementsTable" />
    <link:label xlink:type="resource" xlink:label="label_ipar_LicensingAgreementsTable_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_LicensingAgreementsTable_1" xml:lang="en-US" id="label_ipar_LicensingAgreementsTable_1">Licensing Agreements [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_LicensingAgreementsTable" xlink:to="label_ipar_LicensingAgreementsTable_1" xlink:title="Label : ipar_LicensingAgreementsTable to label_ipar_LicensingAgreementsTable_1" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_MedianMember" xlink:label="ipar_MedianMember" xlink:title="ipar_MedianMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_MedianMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_MedianMember" xml:lang="en-US" id="label_ipar_MedianMember">Median [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_MedianMember" xlink:to="label_ipar_MedianMember" xlink:title="Label : ipar_MedianMember to label_ipar_MedianMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_MedianMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_MedianMember_1" xml:lang="en-US" id="label_ipar_MedianMember_1">Median [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_MedianMember" xlink:to="label_ipar_MedianMember_1" xlink:title="Label : ipar_MedianMember to label_ipar_MedianMember_1" />
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    <link:label xlink:type="resource" xlink:label="label_ipar_MontblancMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_MontblancMember" xml:lang="en-US" id="label_ipar_MontblancMember">Montblanc [Member]</link:label>
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    <link:label xlink:type="resource" xlink:label="label_ipar_MontblancMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_MontblancMember_1" xml:lang="en-US" id="label_ipar_MontblancMember_1">Montblanc [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_MontblancMember" xlink:to="label_ipar_MontblancMember_1" xlink:title="Label : ipar_MontblancMember to label_ipar_MontblancMember_1" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_NetIncomeAttributableToParentAndTransfersFromNoncontrollingInterestTableTextBlock" xlink:label="ipar_NetIncomeAttributableToParentAndTransfersFromNoncontrollingInterestTableTextBlock" xlink:title="ipar_NetIncomeAttributableToParentAndTransfersFromNoncontrollingInterestTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_ipar_NetIncomeAttributableToParentAndTransfersFromNoncontrollingInterestTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_NetIncomeAttributableToParentAndTransfersFromNoncontrollingInterestTableTextBlock" xml:lang="en-US" id="label_ipar_NetIncomeAttributableToParentAndTransfersFromNoncontrollingInterestTableTextBlock">Tabular dislcosure for net income attributable to parent and transfers from noncontrolling interest.</link:label>
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    <link:label xlink:type="resource" xlink:label="label_ipar_NetIncomeAttributableToParentAndTransfersFromNoncontrollingInterestTableTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_NetIncomeAttributableToParentAndTransfersFromNoncontrollingInterestTableTextBlock_1" xml:lang="en-US" id="label_ipar_NetIncomeAttributableToParentAndTransfersFromNoncontrollingInterestTableTextBlock_1">Net Income Attributable to Parent and Transfers from Noncontrolling Interest [Table Text Block]</link:label>
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    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_OscarDeLaRentaMember" xlink:label="ipar_OscarDeLaRentaMember" xlink:title="ipar_OscarDeLaRentaMember" />
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    <link:label xlink:type="resource" xlink:label="label_ipar_OscarDeLaRentaMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_OscarDeLaRentaMember_1" xml:lang="en-US" id="label_ipar_OscarDeLaRentaMember_1">Oscar De La Renta [Member]</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_OscarDeLaRentaMember" xlink:to="label_ipar_OscarDeLaRentaMember_2" xlink:title="Label : ipar_OscarDeLaRentaMember to label_ipar_OscarDeLaRentaMember_2" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAccumulatedOtherComprehensiveIncomeOnDerivativesNetOfTaxAttributableToNoncontrollingInterests" xlink:label="ipar_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAccumulatedOtherComprehensiveIncomeOnDerivativesNetOfTaxAttributableToNoncontrollingInterests" xlink:title="ipar_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAccumulatedOtherComprehensiveIncomeOnDerivativesNetOfTaxAttributableToNoncontrollingInterests" />
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    <link:label xlink:type="resource" xlink:label="label_ipar_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAccumulatedOtherComprehensiveIncomeOnDerivativesNetOfTaxAttributableToNoncontrollingInterests_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_ipar_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAccumulatedOtherComprehensiveIncomeOnDerivativesNetOfTaxAttributableToNoncontrollingInterests_2" xml:lang="en-US" id="label_ipar_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAccumulatedOtherComprehensiveIncomeOnDerivativesNetOfTaxAttributableToNoncontrollingInterests_2">Transfer from OCI into earnings</link:label>
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    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAccumulatedOtherComprehensiveIncomeOnDerivativesNetOfTaxAttributableToParent" xlink:label="ipar_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAccumulatedOtherComprehensiveIncomeOnDerivativesNetOfTaxAttributableToParent" xlink:title="ipar_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAccumulatedOtherComprehensiveIncomeOnDerivativesNetOfTaxAttributableToParent" />
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    <link:label xlink:type="resource" xlink:label="label_ipar_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAccumulatedOtherComprehensiveIncomeOnDerivativesNetOfTaxAttributableToParent_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_ipar_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAccumulatedOtherComprehensiveIncomeOnDerivativesNetOfTaxAttributableToParent_2" xml:lang="en-US" id="label_ipar_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAccumulatedOtherComprehensiveIncomeOnDerivativesNetOfTaxAttributableToParent_2">Transfer from OCI into earnings</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAccumulatedOtherComprehensiveIncomeOnDerivativesNetOfTaxAttributableToParent" xlink:to="label_ipar_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAccumulatedOtherComprehensiveIncomeOnDerivativesNetOfTaxAttributableToParent_2" xlink:title="Label : ipar_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAccumulatedOtherComprehensiveIncomeOnDerivativesNetOfTaxAttributableToParent to label_ipar_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAccumulatedOtherComprehensiveIncomeOnDerivativesNetOfTaxAttributableToParent_2" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_PackageDevelopmentCostsPolicyPolicyTextBlock" xlink:label="ipar_PackageDevelopmentCostsPolicyPolicyTextBlock" xlink:title="ipar_PackageDevelopmentCostsPolicyPolicyTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_ipar_PackageDevelopmentCostsPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_PackageDevelopmentCostsPolicyPolicyTextBlock" xml:lang="en-US" id="label_ipar_PackageDevelopmentCostsPolicyPolicyTextBlock">Policy disclosure for package development costs.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_PackageDevelopmentCostsPolicyPolicyTextBlock" xlink:to="label_ipar_PackageDevelopmentCostsPolicyPolicyTextBlock" xlink:title="Label : ipar_PackageDevelopmentCostsPolicyPolicyTextBlock to label_ipar_PackageDevelopmentCostsPolicyPolicyTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_ipar_PackageDevelopmentCostsPolicyPolicyTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_PackageDevelopmentCostsPolicyPolicyTextBlock_1" xml:lang="en-US" id="label_ipar_PackageDevelopmentCostsPolicyPolicyTextBlock_1">Package Development Costs, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_PackageDevelopmentCostsPolicyPolicyTextBlock" xlink:to="label_ipar_PackageDevelopmentCostsPolicyPolicyTextBlock_1" xlink:title="Label : ipar_PackageDevelopmentCostsPolicyPolicyTextBlock to label_ipar_PackageDevelopmentCostsPolicyPolicyTextBlock_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_PackageDevelopmentCostsPolicyPolicyTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_PackageDevelopmentCostsPolicyPolicyTextBlock_2" xml:lang="en-US" id="label_ipar_PackageDevelopmentCostsPolicyPolicyTextBlock_2">Package Development Costs</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_PackageDevelopmentCostsPolicyPolicyTextBlock" xlink:to="label_ipar_PackageDevelopmentCostsPolicyPolicyTextBlock_2" xlink:title="Label : ipar_PackageDevelopmentCostsPolicyPolicyTextBlock to label_ipar_PackageDevelopmentCostsPolicyPolicyTextBlock_2" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_ParentAndDomesticSubsidiariesMember" xlink:label="ipar_ParentAndDomesticSubsidiariesMember" xlink:title="ipar_ParentAndDomesticSubsidiariesMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ParentAndDomesticSubsidiariesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_ParentAndDomesticSubsidiariesMember" xml:lang="en-US" id="label_ipar_ParentAndDomesticSubsidiariesMember">Parent and Domestic Subsidiaries [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ParentAndDomesticSubsidiariesMember" xlink:to="label_ipar_ParentAndDomesticSubsidiariesMember" xlink:title="Label : ipar_ParentAndDomesticSubsidiariesMember to label_ipar_ParentAndDomesticSubsidiariesMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ParentAndDomesticSubsidiariesMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_ParentAndDomesticSubsidiariesMember_1" xml:lang="en-US" id="label_ipar_ParentAndDomesticSubsidiariesMember_1">Parent and Domestic Subsidiaries [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ParentAndDomesticSubsidiariesMember" xlink:to="label_ipar_ParentAndDomesticSubsidiariesMember_1" xlink:title="Label : ipar_ParentAndDomesticSubsidiariesMember to label_ipar_ParentAndDomesticSubsidiariesMember_1" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_PierreBalmainMember" xlink:label="ipar_PierreBalmainMember" xlink:title="ipar_PierreBalmainMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_PierreBalmainMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_PierreBalmainMember" xml:lang="en-US" id="label_ipar_PierreBalmainMember">Pierre Balmain [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_PierreBalmainMember" xlink:to="label_ipar_PierreBalmainMember" xlink:title="Label : ipar_PierreBalmainMember to label_ipar_PierreBalmainMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_PierreBalmainMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_PierreBalmainMember_1" xml:lang="en-US" id="label_ipar_PierreBalmainMember_1">Pierre Balmain [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_PierreBalmainMember" xlink:to="label_ipar_PierreBalmainMember_1" xlink:title="Label : ipar_PierreBalmainMember to label_ipar_PierreBalmainMember_1" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_PrepaidRoyaltiesFutureAmountMaximumCredit" xlink:label="ipar_PrepaidRoyaltiesFutureAmountMaximumCredit" xlink:title="ipar_PrepaidRoyaltiesFutureAmountMaximumCredit" />
    <link:label xlink:type="resource" xlink:label="label_ipar_PrepaidRoyaltiesFutureAmountMaximumCredit" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_PrepaidRoyaltiesFutureAmountMaximumCredit" xml:lang="en-US" id="label_ipar_PrepaidRoyaltiesFutureAmountMaximumCredit">Maximum amount available to credit against future royalty payments each year.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_PrepaidRoyaltiesFutureAmountMaximumCredit" xlink:to="label_ipar_PrepaidRoyaltiesFutureAmountMaximumCredit" xlink:title="Label : ipar_PrepaidRoyaltiesFutureAmountMaximumCredit to label_ipar_PrepaidRoyaltiesFutureAmountMaximumCredit" />
    <link:label xlink:type="resource" xlink:label="label_ipar_PrepaidRoyaltiesFutureAmountMaximumCredit_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_PrepaidRoyaltiesFutureAmountMaximumCredit_1" xml:lang="en-US" id="label_ipar_PrepaidRoyaltiesFutureAmountMaximumCredit_1">Prepaid Royalties Future Amount Maximum Credit</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_PrepaidRoyaltiesFutureAmountMaximumCredit" xlink:to="label_ipar_PrepaidRoyaltiesFutureAmountMaximumCredit_1" xlink:title="Label : ipar_PrepaidRoyaltiesFutureAmountMaximumCredit to label_ipar_PrepaidRoyaltiesFutureAmountMaximumCredit_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_PrepaidRoyaltiesFutureAmountMaximumCredit" xlink:to="label_ipar_PrepaidRoyaltiesFutureAmountMaximumCredit_2" xlink:title="Label : ipar_PrepaidRoyaltiesFutureAmountMaximumCredit to label_ipar_PrepaidRoyaltiesFutureAmountMaximumCredit_2" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_PrepaidRoyaltiesNetPresentValue" xlink:label="ipar_PrepaidRoyaltiesNetPresentValue" xlink:title="ipar_PrepaidRoyaltiesNetPresentValue" />
    <link:label xlink:type="resource" xlink:label="label_ipar_PrepaidRoyaltiesNetPresentValue" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_PrepaidRoyaltiesNetPresentValue" xml:lang="en-US" id="label_ipar_PrepaidRoyaltiesNetPresentValue">Net present value of advance royalties discounted against intangible assets.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_PrepaidRoyaltiesNetPresentValue" xlink:to="label_ipar_PrepaidRoyaltiesNetPresentValue" xlink:title="Label : ipar_PrepaidRoyaltiesNetPresentValue to label_ipar_PrepaidRoyaltiesNetPresentValue" />
    <link:label xlink:type="resource" xlink:label="label_ipar_PrepaidRoyaltiesNetPresentValue_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_PrepaidRoyaltiesNetPresentValue_1" xml:lang="en-US" id="label_ipar_PrepaidRoyaltiesNetPresentValue_1">Prepaid Royalties Net Present Value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_PrepaidRoyaltiesNetPresentValue" xlink:to="label_ipar_PrepaidRoyaltiesNetPresentValue_1" xlink:title="Label : ipar_PrepaidRoyaltiesNetPresentValue to label_ipar_PrepaidRoyaltiesNetPresentValue_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_PrepaidRoyaltiesNetPresentValue_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_PrepaidRoyaltiesNetPresentValue_2" xml:lang="en-US" id="label_ipar_PrepaidRoyaltiesNetPresentValue_2">Advance royalty payment, net present value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_PrepaidRoyaltiesNetPresentValue" xlink:to="label_ipar_PrepaidRoyaltiesNetPresentValue_2" xlink:title="Label : ipar_PrepaidRoyaltiesNetPresentValue to label_ipar_PrepaidRoyaltiesNetPresentValue_2" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_ProceedsFromLicenseTermination" xlink:label="ipar_ProceedsFromLicenseTermination" xlink:title="ipar_ProceedsFromLicenseTermination" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ProceedsFromLicenseTermination" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_ProceedsFromLicenseTermination" xml:lang="en-US" id="label_ipar_ProceedsFromLicenseTermination">Net proceeds from license termination.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ProceedsFromLicenseTermination" xlink:to="label_ipar_ProceedsFromLicenseTermination" xlink:title="Label : ipar_ProceedsFromLicenseTermination to label_ipar_ProceedsFromLicenseTermination" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ProceedsFromLicenseTermination_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_ProceedsFromLicenseTermination_1" xml:lang="en-US" id="label_ipar_ProceedsFromLicenseTermination_1">Proceeds From License Termination</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ProceedsFromLicenseTermination" xlink:to="label_ipar_ProceedsFromLicenseTermination_1" xlink:title="Label : ipar_ProceedsFromLicenseTermination to label_ipar_ProceedsFromLicenseTermination_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ProceedsFromLicenseTermination_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_ProceedsFromLicenseTermination_2" xml:lang="en-US" id="label_ipar_ProceedsFromLicenseTermination_2">Proceeds from termination of license, net of transaction fees and other settlements</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ProceedsFromLicenseTermination" xlink:to="label_ipar_ProceedsFromLicenseTermination_2" xlink:title="Label : ipar_ProceedsFromLicenseTermination to label_ipar_ProceedsFromLicenseTermination_2" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_RecentAgreementsAbstract" xlink:label="ipar_RecentAgreementsAbstract" xlink:title="ipar_RecentAgreementsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_ipar_RecentAgreementsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_RecentAgreementsAbstract" xml:lang="en-US" id="label_ipar_RecentAgreementsAbstract">Recent Agreements [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_RecentAgreementsAbstract" xlink:to="label_ipar_RecentAgreementsAbstract" xlink:title="Label : ipar_RecentAgreementsAbstract to label_ipar_RecentAgreementsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_ipar_RecentAgreementsAbstract_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_RecentAgreementsAbstract_1" xml:lang="en-US" id="label_ipar_RecentAgreementsAbstract_1">Recent Agreements [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_RecentAgreementsAbstract" xlink:to="label_ipar_RecentAgreementsAbstract_1" xlink:title="Label : ipar_RecentAgreementsAbstract to label_ipar_RecentAgreementsAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_RecentAgreementsTextBlock" xlink:label="ipar_RecentAgreementsTextBlock" xlink:title="ipar_RecentAgreementsTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_ipar_RecentAgreementsTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_RecentAgreementsTextBlock" xml:lang="en-US" id="label_ipar_RecentAgreementsTextBlock">Disclosure for recent agreements.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_RecentAgreementsTextBlock" xlink:to="label_ipar_RecentAgreementsTextBlock" xlink:title="Label : ipar_RecentAgreementsTextBlock to label_ipar_RecentAgreementsTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_ipar_RecentAgreementsTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_RecentAgreementsTextBlock_1" xml:lang="en-US" id="label_ipar_RecentAgreementsTextBlock_1">Recent Agreements [Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_RecentAgreementsTextBlock" xlink:to="label_ipar_RecentAgreementsTextBlock_1" xlink:title="Label : ipar_RecentAgreementsTextBlock to label_ipar_RecentAgreementsTextBlock_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_RecentAgreementsTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_RecentAgreementsTextBlock_2" xml:lang="en-US" id="label_ipar_RecentAgreementsTextBlock_2">Recent Agreements</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_RecentAgreementsTextBlock" xlink:to="label_ipar_RecentAgreementsTextBlock_2" xlink:title="Label : ipar_RecentAgreementsTextBlock to label_ipar_RecentAgreementsTextBlock_2" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_RepettoMember" xlink:label="ipar_RepettoMember" xlink:title="ipar_RepettoMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_RepettoMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_RepettoMember" xml:lang="en-US" id="label_ipar_RepettoMember">Repetto [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_RepettoMember" xlink:to="label_ipar_RepettoMember" xlink:title="Label : ipar_RepettoMember to label_ipar_RepettoMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_RepettoMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_RepettoMember_1" xml:lang="en-US" id="label_ipar_RepettoMember_1">Repetto [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_RepettoMember" xlink:to="label_ipar_RepettoMember_1" xlink:title="Label : ipar_RepettoMember to label_ipar_RepettoMember_1" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_RoyaltiesPayablePrepaidRoyaltiesThreshold" xlink:label="ipar_RoyaltiesPayablePrepaidRoyaltiesThreshold" xlink:title="ipar_RoyaltiesPayablePrepaidRoyaltiesThreshold" />
    <link:label xlink:type="resource" xlink:label="label_ipar_RoyaltiesPayablePrepaidRoyaltiesThreshold" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_RoyaltiesPayablePrepaidRoyaltiesThreshold" xml:lang="en-US" id="label_ipar_RoyaltiesPayablePrepaidRoyaltiesThreshold">Amount of royalties due that acts as the threshold or minimum amount for prepaid royalties to be credited against future royalty payments.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_RoyaltiesPayablePrepaidRoyaltiesThreshold" xlink:to="label_ipar_RoyaltiesPayablePrepaidRoyaltiesThreshold" xlink:title="Label : ipar_RoyaltiesPayablePrepaidRoyaltiesThreshold to label_ipar_RoyaltiesPayablePrepaidRoyaltiesThreshold" />
    <link:label xlink:type="resource" xlink:label="label_ipar_RoyaltiesPayablePrepaidRoyaltiesThreshold_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_RoyaltiesPayablePrepaidRoyaltiesThreshold_1" xml:lang="en-US" id="label_ipar_RoyaltiesPayablePrepaidRoyaltiesThreshold_1">Royalties Payable Prepaid Royalties Threshold</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_RoyaltiesPayablePrepaidRoyaltiesThreshold" xlink:to="label_ipar_RoyaltiesPayablePrepaidRoyaltiesThreshold_1" xlink:title="Label : ipar_RoyaltiesPayablePrepaidRoyaltiesThreshold to label_ipar_RoyaltiesPayablePrepaidRoyaltiesThreshold_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_RoyaltiesPayablePrepaidRoyaltiesThreshold_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_RoyaltiesPayablePrepaidRoyaltiesThreshold_2" xml:lang="en-US" id="label_ipar_RoyaltiesPayablePrepaidRoyaltiesThreshold_2">Royalties due, minimum amount to use prepaid credit</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_RoyaltiesPayablePrepaidRoyaltiesThreshold" xlink:to="label_ipar_RoyaltiesPayablePrepaidRoyaltiesThreshold_2" xlink:title="Label : ipar_RoyaltiesPayablePrepaidRoyaltiesThreshold to label_ipar_RoyaltiesPayablePrepaidRoyaltiesThreshold_2" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_RoyaltyExpenseNetSalesPercentage" xlink:label="ipar_RoyaltyExpenseNetSalesPercentage" xlink:title="ipar_RoyaltyExpenseNetSalesPercentage" />
    <link:label xlink:type="resource" xlink:label="label_ipar_RoyaltyExpenseNetSalesPercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_RoyaltyExpenseNetSalesPercentage" xml:lang="en-US" id="label_ipar_RoyaltyExpenseNetSalesPercentage">Royalty expense presented as a percentage of net sales.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_RoyaltyExpenseNetSalesPercentage" xlink:to="label_ipar_RoyaltyExpenseNetSalesPercentage" xlink:title="Label : ipar_RoyaltyExpenseNetSalesPercentage to label_ipar_RoyaltyExpenseNetSalesPercentage" />
    <link:label xlink:type="resource" xlink:label="label_ipar_RoyaltyExpenseNetSalesPercentage_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_RoyaltyExpenseNetSalesPercentage_1" xml:lang="en-US" id="label_ipar_RoyaltyExpenseNetSalesPercentage_1">Royalty Expense, Net Sales Percentage</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_RoyaltyExpenseNetSalesPercentage" xlink:to="label_ipar_RoyaltyExpenseNetSalesPercentage_1" xlink:title="Label : ipar_RoyaltyExpenseNetSalesPercentage to label_ipar_RoyaltyExpenseNetSalesPercentage_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_RoyaltyExpenseNetSalesPercentage_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_RoyaltyExpenseNetSalesPercentage_2" xml:lang="en-US" id="label_ipar_RoyaltyExpenseNetSalesPercentage_2">Royalty expense, percentage of net sales</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_RoyaltyExpenseNetSalesPercentage" xlink:to="label_ipar_RoyaltyExpenseNetSalesPercentage_2" xlink:title="Label : ipar_RoyaltyExpenseNetSalesPercentage to label_ipar_RoyaltyExpenseNetSalesPercentage_2" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_ScheduleOfIntangibleAssetsTableTextBlock" xlink:label="ipar_ScheduleOfIntangibleAssetsTableTextBlock" xlink:title="ipar_ScheduleOfIntangibleAssetsTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ScheduleOfIntangibleAssetsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_ScheduleOfIntangibleAssetsTableTextBlock" xml:lang="en-US" id="label_ipar_ScheduleOfIntangibleAssetsTableTextBlock">Tabular disclosure for intangible assets.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ScheduleOfIntangibleAssetsTableTextBlock" xlink:to="label_ipar_ScheduleOfIntangibleAssetsTableTextBlock" xlink:title="Label : ipar_ScheduleOfIntangibleAssetsTableTextBlock to label_ipar_ScheduleOfIntangibleAssetsTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ScheduleOfIntangibleAssetsTableTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_ScheduleOfIntangibleAssetsTableTextBlock_1" xml:lang="en-US" id="label_ipar_ScheduleOfIntangibleAssetsTableTextBlock_1">Schedule Of Intangible Assets [Table Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ScheduleOfIntangibleAssetsTableTextBlock" xlink:to="label_ipar_ScheduleOfIntangibleAssetsTableTextBlock_1" xlink:title="Label : ipar_ScheduleOfIntangibleAssetsTableTextBlock to label_ipar_ScheduleOfIntangibleAssetsTableTextBlock_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ScheduleOfIntangibleAssetsTableTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_ScheduleOfIntangibleAssetsTableTextBlock_2" xml:lang="en-US" id="label_ipar_ScheduleOfIntangibleAssetsTableTextBlock_2">Schedule of Trademarks, Licenses and Other Intangible Assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ScheduleOfIntangibleAssetsTableTextBlock" xlink:to="label_ipar_ScheduleOfIntangibleAssetsTableTextBlock_2" xlink:title="Label : ipar_ScheduleOfIntangibleAssetsTableTextBlock to label_ipar_ScheduleOfIntangibleAssetsTableTextBlock_2" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_ScheduleofSegmentReportingInformationbyGeographicalAreaTableTextBlock" xlink:label="ipar_ScheduleofSegmentReportingInformationbyGeographicalAreaTableTextBlock" xlink:title="ipar_ScheduleofSegmentReportingInformationbyGeographicalAreaTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ScheduleofSegmentReportingInformationbyGeographicalAreaTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_ScheduleofSegmentReportingInformationbyGeographicalAreaTableTextBlock" xml:lang="en-US" id="label_ipar_ScheduleofSegmentReportingInformationbyGeographicalAreaTableTextBlock">Tabular disclousre of reporting information by geographical operating segements.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ScheduleofSegmentReportingInformationbyGeographicalAreaTableTextBlock" xlink:to="label_ipar_ScheduleofSegmentReportingInformationbyGeographicalAreaTableTextBlock" xlink:title="Label : ipar_ScheduleofSegmentReportingInformationbyGeographicalAreaTableTextBlock to label_ipar_ScheduleofSegmentReportingInformationbyGeographicalAreaTableTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ScheduleofSegmentReportingInformationbyGeographicalAreaTableTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_ScheduleofSegmentReportingInformationbyGeographicalAreaTableTextBlock_1" xml:lang="en-US" id="label_ipar_ScheduleofSegmentReportingInformationbyGeographicalAreaTableTextBlock_1">Scheduleof Segment Reporting Informationby Geographical Area [Table Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ScheduleofSegmentReportingInformationbyGeographicalAreaTableTextBlock" xlink:to="label_ipar_ScheduleofSegmentReportingInformationbyGeographicalAreaTableTextBlock_1" xlink:title="Label : ipar_ScheduleofSegmentReportingInformationbyGeographicalAreaTableTextBlock to label_ipar_ScheduleofSegmentReportingInformationbyGeographicalAreaTableTextBlock_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ScheduleofSegmentReportingInformationbyGeographicalAreaTableTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_ScheduleofSegmentReportingInformationbyGeographicalAreaTableTextBlock_2" xml:lang="en-US" id="label_ipar_ScheduleofSegmentReportingInformationbyGeographicalAreaTableTextBlock_2">Schedule of Information by Operating Segment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ScheduleofSegmentReportingInformationbyGeographicalAreaTableTextBlock" xlink:to="label_ipar_ScheduleofSegmentReportingInformationbyGeographicalAreaTableTextBlock_2" xlink:title="Label : ipar_ScheduleofSegmentReportingInformationbyGeographicalAreaTableTextBlock to label_ipar_ScheduleofSegmentReportingInformationbyGeographicalAreaTableTextBlock_2" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_SegmentAndGeographicalAreasTextBlock" xlink:label="ipar_SegmentAndGeographicalAreasTextBlock" xlink:title="ipar_SegmentAndGeographicalAreasTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_ipar_SegmentAndGeographicalAreasTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_SegmentAndGeographicalAreasTextBlock" xml:lang="en-US" id="label_ipar_SegmentAndGeographicalAreasTextBlock">Entire disclosure for operating segements and geographical areas.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_SegmentAndGeographicalAreasTextBlock" xlink:to="label_ipar_SegmentAndGeographicalAreasTextBlock" xlink:title="Label : ipar_SegmentAndGeographicalAreasTextBlock to label_ipar_SegmentAndGeographicalAreasTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_ipar_SegmentAndGeographicalAreasTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_SegmentAndGeographicalAreasTextBlock_1" xml:lang="en-US" id="label_ipar_SegmentAndGeographicalAreasTextBlock_1">Segment and Geographical Areas [Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_SegmentAndGeographicalAreasTextBlock" xlink:to="label_ipar_SegmentAndGeographicalAreasTextBlock_1" xlink:title="Label : ipar_SegmentAndGeographicalAreasTextBlock to label_ipar_SegmentAndGeographicalAreasTextBlock_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_SegmentAndGeographicalAreasTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_SegmentAndGeographicalAreasTextBlock_2" xml:lang="en-US" id="label_ipar_SegmentAndGeographicalAreasTextBlock_2">Segments and Geographic Areas</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_SegmentAndGeographicalAreasTextBlock" xlink:to="label_ipar_SegmentAndGeographicalAreasTextBlock_2" xlink:title="Label : ipar_SegmentAndGeographicalAreasTextBlock to label_ipar_SegmentAndGeographicalAreasTextBlock_2" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_SegmentGeographicalGroupsOfCountriesGroupSixMember" xlink:label="ipar_SegmentGeographicalGroupsOfCountriesGroupSixMember" xlink:title="ipar_SegmentGeographicalGroupsOfCountriesGroupSixMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_SegmentGeographicalGroupsOfCountriesGroupSixMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_SegmentGeographicalGroupsOfCountriesGroupSixMember" xml:lang="en-US" id="label_ipar_SegmentGeographicalGroupsOfCountriesGroupSixMember">A sixth specified group of foreign countries about which segment information is provided by the entity.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_SegmentGeographicalGroupsOfCountriesGroupSixMember" xlink:to="label_ipar_SegmentGeographicalGroupsOfCountriesGroupSixMember" xlink:title="Label : ipar_SegmentGeographicalGroupsOfCountriesGroupSixMember to label_ipar_SegmentGeographicalGroupsOfCountriesGroupSixMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_SegmentGeographicalGroupsOfCountriesGroupSixMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_SegmentGeographicalGroupsOfCountriesGroupSixMember_1" xml:lang="en-US" id="label_ipar_SegmentGeographicalGroupsOfCountriesGroupSixMember_1">Segment Geographical Groups Of Countries Group Six [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_SegmentGeographicalGroupsOfCountriesGroupSixMember" xlink:to="label_ipar_SegmentGeographicalGroupsOfCountriesGroupSixMember_1" xlink:title="Label : ipar_SegmentGeographicalGroupsOfCountriesGroupSixMember to label_ipar_SegmentGeographicalGroupsOfCountriesGroupSixMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_SegmentGeographicalGroupsOfCountriesGroupSixMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_SegmentGeographicalGroupsOfCountriesGroupSixMember_2" xml:lang="en-US" id="label_ipar_SegmentGeographicalGroupsOfCountriesGroupSixMember_2">Other [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_SegmentGeographicalGroupsOfCountriesGroupSixMember" xlink:to="label_ipar_SegmentGeographicalGroupsOfCountriesGroupSixMember_2" xlink:title="Label : ipar_SegmentGeographicalGroupsOfCountriesGroupSixMember to label_ipar_SegmentGeographicalGroupsOfCountriesGroupSixMember_2" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_ShanghaiTangMember" xlink:label="ipar_ShanghaiTangMember" xlink:title="ipar_ShanghaiTangMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ShanghaiTangMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_ShanghaiTangMember" xml:lang="en-US" id="label_ipar_ShanghaiTangMember">Shanghai Tang [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ShanghaiTangMember" xlink:to="label_ipar_ShanghaiTangMember" xlink:title="Label : ipar_ShanghaiTangMember to label_ipar_ShanghaiTangMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ShanghaiTangMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_ShanghaiTangMember_1" xml:lang="en-US" id="label_ipar_ShanghaiTangMember_1">Shanghai Tang [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ShanghaiTangMember" xlink:to="label_ipar_ShanghaiTangMember_1" xlink:title="Label : ipar_ShanghaiTangMember to label_ipar_ShanghaiTangMember_1" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonvestedOptionsVestedOrForfeitedInPeriod" xlink:label="ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonvestedOptionsVestedOrForfeitedInPeriod" xlink:title="ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonvestedOptionsVestedOrForfeitedInPeriod" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonvestedOptionsVestedOrForfeitedInPeriod" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonvestedOptionsVestedOrForfeitedInPeriod" xml:lang="en-US" id="label_ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonvestedOptionsVestedOrForfeitedInPeriod">Number of nonvested share-based payment award options that vested or were forfeited during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonvestedOptionsVestedOrForfeitedInPeriod" xlink:to="label_ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonvestedOptionsVestedOrForfeitedInPeriod" xlink:title="Label : ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonvestedOptionsVestedOrForfeitedInPeriod to label_ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonvestedOptionsVestedOrForfeitedInPeriod" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonvestedOptionsVestedOrForfeitedInPeriod_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonvestedOptionsVestedOrForfeitedInPeriod_1" xml:lang="en-US" id="label_ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonvestedOptionsVestedOrForfeitedInPeriod_1">Share Based Compensation Arrangement By Share Based Payment Award Nonvested Options Vested Or Forfeited In Period</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonvestedOptionsVestedOrForfeitedInPeriod" xlink:to="label_ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonvestedOptionsVestedOrForfeitedInPeriod_1" xlink:title="Label : ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonvestedOptionsVestedOrForfeitedInPeriod to label_ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonvestedOptionsVestedOrForfeitedInPeriod_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonvestedOptionsVestedOrForfeitedInPeriod_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonvestedOptionsVestedOrForfeitedInPeriod_2" xml:lang="en-US" id="label_ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonvestedOptionsVestedOrForfeitedInPeriod_2">Vested or forfeited</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonvestedOptionsVestedOrForfeitedInPeriod" xlink:to="label_ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonvestedOptionsVestedOrForfeitedInPeriod_2" xlink:title="Label : ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonvestedOptionsVestedOrForfeitedInPeriod to label_ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonvestedOptionsVestedOrForfeitedInPeriod_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/country/2013/country-2013-01-31.xsd#country_FR" xlink:label="country_FR" xlink:title="country_FR" />
    <link:label xlink:type="resource" xlink:label="label_country_FR" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_country_FR" xml:lang="en-US" id="label_country_FR">FRANCE [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_FR" xlink:to="label_country_FR" xlink:title="Label : country_FR to label_country_FR" />
    <link:label xlink:type="resource" xlink:label="label_country_FR_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_country_FR_1" xml:lang="en-US" id="label_country_FR_1">France [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_FR" xlink:to="label_country_FR_1" xlink:title="Label : country_FR to label_country_FR_1" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedOrForfeitedInPeriodWeightedAverageGrantDateFairValue" xlink:label="ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedOrForfeitedInPeriodWeightedAverageGrantDateFairValue" xlink:title="ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedOrForfeitedInPeriodWeightedAverageGrantDateFairValue" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedOrForfeitedInPeriodWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedOrForfeitedInPeriodWeightedAverageGrantDateFairValue" xml:lang="en-US" id="label_ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedOrForfeitedInPeriodWeightedAverageGrantDateFairValue">Weighted average grant date fair value of nonvested options that were vested or forfeited during the period.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedOrForfeitedInPeriodWeightedAverageGrantDateFairValue" xlink:to="label_ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedOrForfeitedInPeriodWeightedAverageGrantDateFairValue" xlink:title="Label : ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedOrForfeitedInPeriodWeightedAverageGrantDateFairValue to label_ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedOrForfeitedInPeriodWeightedAverageGrantDateFairValue" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedOrForfeitedInPeriodWeightedAverageGrantDateFairValue_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedOrForfeitedInPeriodWeightedAverageGrantDateFairValue_1" xml:lang="en-US" id="label_ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedOrForfeitedInPeriodWeightedAverageGrantDateFairValue_1">Share Based Compensation Arrangement By Share Based Payment Award Options Vested Or Forfeited In Period Weighted Average Grant Date Fair Value</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedOrForfeitedInPeriodWeightedAverageGrantDateFairValue" xlink:to="label_ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedOrForfeitedInPeriodWeightedAverageGrantDateFairValue_1" xlink:title="Label : ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedOrForfeitedInPeriodWeightedAverageGrantDateFairValue to label_ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedOrForfeitedInPeriodWeightedAverageGrantDateFairValue_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedOrForfeitedInPeriodWeightedAverageGrantDateFairValue_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedOrForfeitedInPeriodWeightedAverageGrantDateFairValue_2" xml:lang="en-US" id="label_ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedOrForfeitedInPeriodWeightedAverageGrantDateFairValue_2">Vested or forfeited</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedOrForfeitedInPeriodWeightedAverageGrantDateFairValue" xlink:to="label_ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedOrForfeitedInPeriodWeightedAverageGrantDateFairValue_2" xlink:title="Label : ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedOrForfeitedInPeriodWeightedAverageGrantDateFairValue to label_ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedOrForfeitedInPeriodWeightedAverageGrantDateFairValue_2" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_SharesPaidForStockOptionsExercised" xlink:label="ipar_SharesPaidForStockOptionsExercised" xlink:title="ipar_SharesPaidForStockOptionsExercised" />
    <link:label xlink:type="resource" xlink:label="label_ipar_SharesPaidForStockOptionsExercised" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_SharesPaidForStockOptionsExercised" xml:lang="en-US" id="label_ipar_SharesPaidForStockOptionsExercised">Number of shares tendered for the exercise of stock options.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_SharesPaidForStockOptionsExercised" xlink:to="label_ipar_SharesPaidForStockOptionsExercised" xlink:title="Label : ipar_SharesPaidForStockOptionsExercised to label_ipar_SharesPaidForStockOptionsExercised" />
    <link:label xlink:type="resource" xlink:label="label_ipar_SharesPaidForStockOptionsExercised_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_SharesPaidForStockOptionsExercised_1" xml:lang="en-US" id="label_ipar_SharesPaidForStockOptionsExercised_1">Shares Paid For Stock Options Exercised</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_SharesPaidForStockOptionsExercised" xlink:to="label_ipar_SharesPaidForStockOptionsExercised_1" xlink:title="Label : ipar_SharesPaidForStockOptionsExercised to label_ipar_SharesPaidForStockOptionsExercised_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_SharesPaidForStockOptionsExercised_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_SharesPaidForStockOptionsExercised_2" xml:lang="en-US" id="label_ipar_SharesPaidForStockOptionsExercised_2">Shares tendered for options exercised</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_SharesPaidForStockOptionsExercised" xlink:to="label_ipar_SharesPaidForStockOptionsExercised_2" xlink:title="Label : ipar_SharesPaidForStockOptionsExercised to label_ipar_SharesPaidForStockOptionsExercised_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/country/2013/country-2013-01-31.xsd#country_GB" xlink:label="country_GB" xlink:title="country_GB" />
    <link:label xlink:type="resource" xlink:label="label_country_GB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_country_GB" xml:lang="en-US" id="label_country_GB">UNITED KINGDOM [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_GB" xlink:to="label_country_GB" xlink:title="Label : country_GB to label_country_GB" />
    <link:label xlink:type="resource" xlink:label="label_country_GB_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_country_GB_1" xml:lang="en-US" id="label_country_GB_1">United Kingdom [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_GB" xlink:to="label_country_GB_1" xlink:title="Label : country_GB to label_country_GB_1" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_TerminationOfBurberryLicenseAbstract" xlink:label="ipar_TerminationOfBurberryLicenseAbstract" xlink:title="ipar_TerminationOfBurberryLicenseAbstract" />
    <link:label xlink:type="resource" xlink:label="label_ipar_TerminationOfBurberryLicenseAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_TerminationOfBurberryLicenseAbstract" xml:lang="en-US" id="label_ipar_TerminationOfBurberryLicenseAbstract">Termination of Burberry License [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_TerminationOfBurberryLicenseAbstract" xlink:to="label_ipar_TerminationOfBurberryLicenseAbstract" xlink:title="Label : ipar_TerminationOfBurberryLicenseAbstract to label_ipar_TerminationOfBurberryLicenseAbstract" />
    <link:label xlink:type="resource" xlink:label="label_ipar_TerminationOfBurberryLicenseAbstract_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_TerminationOfBurberryLicenseAbstract_1" xml:lang="en-US" id="label_ipar_TerminationOfBurberryLicenseAbstract_1">Termination of Burberry License [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_TerminationOfBurberryLicenseAbstract" xlink:to="label_ipar_TerminationOfBurberryLicenseAbstract_1" xlink:title="Label : ipar_TerminationOfBurberryLicenseAbstract to label_ipar_TerminationOfBurberryLicenseAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_TreasuryStockPolicyPolicyTextBlock" xlink:label="ipar_TreasuryStockPolicyPolicyTextBlock" xlink:title="ipar_TreasuryStockPolicyPolicyTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_ipar_TreasuryStockPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_TreasuryStockPolicyPolicyTextBlock" xml:lang="en-US" id="label_ipar_TreasuryStockPolicyPolicyTextBlock">Policy disclosure for treasury stock.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_TreasuryStockPolicyPolicyTextBlock" xlink:to="label_ipar_TreasuryStockPolicyPolicyTextBlock" xlink:title="Label : ipar_TreasuryStockPolicyPolicyTextBlock to label_ipar_TreasuryStockPolicyPolicyTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_ipar_TreasuryStockPolicyPolicyTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_TreasuryStockPolicyPolicyTextBlock_1" xml:lang="en-US" id="label_ipar_TreasuryStockPolicyPolicyTextBlock_1">Treasury Stock Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_TreasuryStockPolicyPolicyTextBlock" xlink:to="label_ipar_TreasuryStockPolicyPolicyTextBlock_1" xlink:title="Label : ipar_TreasuryStockPolicyPolicyTextBlock to label_ipar_TreasuryStockPolicyPolicyTextBlock_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_TreasuryStockPolicyPolicyTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_TreasuryStockPolicyPolicyTextBlock_2" xml:lang="en-US" id="label_ipar_TreasuryStockPolicyPolicyTextBlock_2">Treasury Stock</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_TreasuryStockPolicyPolicyTextBlock" xlink:to="label_ipar_TreasuryStockPolicyPolicyTextBlock_2" xlink:title="Label : ipar_TreasuryStockPolicyPolicyTextBlock to label_ipar_TreasuryStockPolicyPolicyTextBlock_2" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_AbercrombieAndFitchMember" xlink:label="ipar_AbercrombieAndFitchMember" xlink:title="ipar_AbercrombieAndFitchMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_AbercrombieAndFitchMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_AbercrombieAndFitchMember" xml:lang="en-US" id="label_ipar_AbercrombieAndFitchMember">Abercrombie &amp; Fitch [Member].</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_AbercrombieAndFitchMember" xlink:to="label_ipar_AbercrombieAndFitchMember" xlink:title="Label : ipar_AbercrombieAndFitchMember to label_ipar_AbercrombieAndFitchMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_AbercrombieAndFitchMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_AbercrombieAndFitchMember_1" xml:lang="en-US" id="label_ipar_AbercrombieAndFitchMember_1">Abercrombie and Fitch [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_AbercrombieAndFitchMember" xlink:to="label_ipar_AbercrombieAndFitchMember_1" xlink:title="Label : ipar_AbercrombieAndFitchMember to label_ipar_AbercrombieAndFitchMember_1" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_CashPaidForAbstract" xlink:label="ipar_CashPaidForAbstract" xlink:title="ipar_CashPaidForAbstract" />
    <link:label xlink:type="resource" xlink:label="label_ipar_CashPaidForAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_CashPaidForAbstract" xml:lang="en-US" id="label_ipar_CashPaidForAbstract">Cash Paid for Abstract</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_CashPaidForAbstract" xlink:to="label_ipar_CashPaidForAbstract" xlink:title="Label : ipar_CashPaidForAbstract to label_ipar_CashPaidForAbstract" />
    <link:label xlink:type="resource" xlink:label="label_ipar_CashPaidForAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_CashPaidForAbstract_1" xml:lang="en-US" id="label_ipar_CashPaidForAbstract_1">Cash paid for:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_CashPaidForAbstract" xlink:to="label_ipar_CashPaidForAbstract_1" xlink:title="Label : ipar_CashPaidForAbstract to label_ipar_CashPaidForAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_ExercisePriceRangeElevenMember" xlink:label="ipar_ExercisePriceRangeElevenMember" xlink:title="ipar_ExercisePriceRangeElevenMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ExercisePriceRangeElevenMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_ExercisePriceRangeElevenMember" xml:lang="en-US" id="label_ipar_ExercisePriceRangeElevenMember">Exercise Price Range Eleven [Member].</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ExercisePriceRangeElevenMember" xlink:to="label_ipar_ExercisePriceRangeElevenMember" xlink:title="Label : ipar_ExercisePriceRangeElevenMember to label_ipar_ExercisePriceRangeElevenMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ExercisePriceRangeElevenMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_ExercisePriceRangeElevenMember_1" xml:lang="en-US" id="label_ipar_ExercisePriceRangeElevenMember_1">Exercise Price Range Eleven [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ExercisePriceRangeElevenMember" xlink:to="label_ipar_ExercisePriceRangeElevenMember_1" xlink:title="Label : ipar_ExercisePriceRangeElevenMember to label_ipar_ExercisePriceRangeElevenMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ExercisePriceRangeElevenMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_ExercisePriceRangeElevenMember_2" xml:lang="en-US" id="label_ipar_ExercisePriceRangeElevenMember_2">$27.80 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ExercisePriceRangeElevenMember" xlink:to="label_ipar_ExercisePriceRangeElevenMember_2" xlink:title="Label : ipar_ExercisePriceRangeElevenMember to label_ipar_ExercisePriceRangeElevenMember_2" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_ExercisePriceRangeTwelveMember" xlink:label="ipar_ExercisePriceRangeTwelveMember" xlink:title="ipar_ExercisePriceRangeTwelveMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ExercisePriceRangeTwelveMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_ExercisePriceRangeTwelveMember" xml:lang="en-US" id="label_ipar_ExercisePriceRangeTwelveMember">Exercise Price Range Twelve [Member].</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ExercisePriceRangeTwelveMember" xlink:to="label_ipar_ExercisePriceRangeTwelveMember" xlink:title="Label : ipar_ExercisePriceRangeTwelveMember to label_ipar_ExercisePriceRangeTwelveMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ExercisePriceRangeTwelveMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_ExercisePriceRangeTwelveMember_1" xml:lang="en-US" id="label_ipar_ExercisePriceRangeTwelveMember_1">Exercise Price Range Twelve [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ExercisePriceRangeTwelveMember" xlink:to="label_ipar_ExercisePriceRangeTwelveMember_1" xlink:title="Label : ipar_ExercisePriceRangeTwelveMember to label_ipar_ExercisePriceRangeTwelveMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ExercisePriceRangeTwelveMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_ExercisePriceRangeTwelveMember_2" xml:lang="en-US" id="label_ipar_ExercisePriceRangeTwelveMember_2">$29.36 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ExercisePriceRangeTwelveMember" xlink:to="label_ipar_ExercisePriceRangeTwelveMember_2" xlink:title="Label : ipar_ExercisePriceRangeTwelveMember to label_ipar_ExercisePriceRangeTwelveMember_2" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_ExercisePriceRangeThirteenMember" xlink:label="ipar_ExercisePriceRangeThirteenMember" xlink:title="ipar_ExercisePriceRangeThirteenMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ExercisePriceRangeThirteenMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_ExercisePriceRangeThirteenMember" xml:lang="en-US" id="label_ipar_ExercisePriceRangeThirteenMember">Exercise Price Range Thirteen [Member].</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ExercisePriceRangeThirteenMember" xlink:to="label_ipar_ExercisePriceRangeThirteenMember" xlink:title="Label : ipar_ExercisePriceRangeThirteenMember to label_ipar_ExercisePriceRangeThirteenMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ExercisePriceRangeThirteenMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_ExercisePriceRangeThirteenMember_1" xml:lang="en-US" id="label_ipar_ExercisePriceRangeThirteenMember_1">Exercise Price Range Thirteen [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ExercisePriceRangeThirteenMember" xlink:to="label_ipar_ExercisePriceRangeThirteenMember_1" xlink:title="Label : ipar_ExercisePriceRangeThirteenMember to label_ipar_ExercisePriceRangeThirteenMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_ExercisePriceRangeThirteenMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_ExercisePriceRangeThirteenMember_2" xml:lang="en-US" id="label_ipar_ExercisePriceRangeThirteenMember_2">$32.12 [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_ExercisePriceRangeThirteenMember" xlink:to="label_ipar_ExercisePriceRangeThirteenMember_2" xlink:title="Label : ipar_ExercisePriceRangeThirteenMember to label_ipar_ExercisePriceRangeThirteenMember_2" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_PercentageOfIncreaseInAnnualDividend" xlink:label="ipar_PercentageOfIncreaseInAnnualDividend" xlink:title="ipar_PercentageOfIncreaseInAnnualDividend" />
    <link:label xlink:type="resource" xlink:label="label_ipar_PercentageOfIncreaseInAnnualDividend" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_PercentageOfIncreaseInAnnualDividend" xml:lang="en-US" id="label_ipar_PercentageOfIncreaseInAnnualDividend">Represents the percentage of increase in annual dividend.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_PercentageOfIncreaseInAnnualDividend" xlink:to="label_ipar_PercentageOfIncreaseInAnnualDividend" xlink:title="Label : ipar_PercentageOfIncreaseInAnnualDividend to label_ipar_PercentageOfIncreaseInAnnualDividend" />
    <link:label xlink:type="resource" xlink:label="label_ipar_PercentageOfIncreaseInAnnualDividend_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_PercentageOfIncreaseInAnnualDividend_1" xml:lang="en-US" id="label_ipar_PercentageOfIncreaseInAnnualDividend_1">Percentage of Increase in Annual Dividend</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_PercentageOfIncreaseInAnnualDividend" xlink:to="label_ipar_PercentageOfIncreaseInAnnualDividend_1" xlink:title="Label : ipar_PercentageOfIncreaseInAnnualDividend to label_ipar_PercentageOfIncreaseInAnnualDividend_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_PercentageOfIncreaseInAnnualDividend_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_PercentageOfIncreaseInAnnualDividend_2" xml:lang="en-US" id="label_ipar_PercentageOfIncreaseInAnnualDividend_2">Percentage of increase in annual dividend</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_PercentageOfIncreaseInAnnualDividend" xlink:to="label_ipar_PercentageOfIncreaseInAnnualDividend_2" xlink:title="Label : ipar_PercentageOfIncreaseInAnnualDividend to label_ipar_PercentageOfIncreaseInAnnualDividend_2" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_LossContingencyPolicy" xlink:label="ipar_LossContingencyPolicy" xlink:title="ipar_LossContingencyPolicy" />
    <link:label xlink:type="resource" xlink:label="label_ipar_LossContingencyPolicy" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_LossContingencyPolicy" xml:lang="en-US" id="label_ipar_LossContingencyPolicy">Disclosure of the accounting policy for loss contingencies accruals.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_LossContingencyPolicy" xlink:to="label_ipar_LossContingencyPolicy" xlink:title="Label : ipar_LossContingencyPolicy to label_ipar_LossContingencyPolicy" />
    <link:label xlink:type="resource" xlink:label="label_ipar_LossContingencyPolicy_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_LossContingencyPolicy_1" xml:lang="en-US" id="label_ipar_LossContingencyPolicy_1">Loss Contingency, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_LossContingencyPolicy" xlink:to="label_ipar_LossContingencyPolicy_1" xlink:title="Label : ipar_LossContingencyPolicy to label_ipar_LossContingencyPolicy_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_LossContingencyPolicy_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_LossContingencyPolicy_2" xml:lang="en-US" id="label_ipar_LossContingencyPolicy_2">Loss Contingency</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_LossContingencyPolicy" xlink:to="label_ipar_LossContingencyPolicy_2" xlink:title="Label : ipar_LossContingencyPolicy to label_ipar_LossContingencyPolicy_2" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_NewAgreementsAbstract" xlink:label="ipar_NewAgreementsAbstract" xlink:title="ipar_NewAgreementsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_ipar_NewAgreementsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_NewAgreementsAbstract" xml:lang="en-US" id="label_ipar_NewAgreementsAbstract">New Agreements [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_NewAgreementsAbstract" xlink:to="label_ipar_NewAgreementsAbstract" xlink:title="Label : ipar_NewAgreementsAbstract to label_ipar_NewAgreementsAbstract" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_NewAgreementsTextBlock" xlink:label="ipar_NewAgreementsTextBlock" xlink:title="ipar_NewAgreementsTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_ipar_NewAgreementsTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_NewAgreementsTextBlock" xml:lang="en-US" id="label_ipar_NewAgreementsTextBlock">The entire disclosure of new agreements.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_NewAgreementsTextBlock" xlink:to="label_ipar_NewAgreementsTextBlock" xlink:title="Label : ipar_NewAgreementsTextBlock to label_ipar_NewAgreementsTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_ipar_NewAgreementsTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_NewAgreementsTextBlock_1" xml:lang="en-US" id="label_ipar_NewAgreementsTextBlock_1">New Agreements [Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_NewAgreementsTextBlock" xlink:to="label_ipar_NewAgreementsTextBlock_1" xlink:title="Label : ipar_NewAgreementsTextBlock to label_ipar_NewAgreementsTextBlock_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_NewAgreementsTextBlock_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_NewAgreementsTextBlock_2" xml:lang="en-US" id="label_ipar_NewAgreementsTextBlock_2">New Agreements</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_NewAgreementsTextBlock" xlink:to="label_ipar_NewAgreementsTextBlock_2" xlink:title="Label : ipar_NewAgreementsTextBlock to label_ipar_NewAgreementsTextBlock_2" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_NewAgreementsTable" xlink:label="ipar_NewAgreementsTable" xlink:title="ipar_NewAgreementsTable" />
    <link:label xlink:type="resource" xlink:label="label_ipar_NewAgreementsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_NewAgreementsTable" xml:lang="en-US" id="label_ipar_NewAgreementsTable">New Agreements [Table]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_NewAgreementsTable" xlink:to="label_ipar_NewAgreementsTable" xlink:title="Label : ipar_NewAgreementsTable to label_ipar_NewAgreementsTable" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="dei_EntityWellKnownSeasonedIssuer" xlink:title="dei_EntityWellKnownSeasonedIssuer" />
    <link:label xlink:type="resource" xlink:label="label_dei_EntityWellKnownSeasonedIssuer" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_EntityWellKnownSeasonedIssuer" xml:lang="en-US" id="label_dei_EntityWellKnownSeasonedIssuer">Entity Well-known Seasoned Issuer</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityWellKnownSeasonedIssuer" xlink:to="label_dei_EntityWellKnownSeasonedIssuer" xlink:title="Label : dei_EntityWellKnownSeasonedIssuer to label_dei_EntityWellKnownSeasonedIssuer" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_NewAgreementsAxis" xlink:label="ipar_NewAgreementsAxis" xlink:title="ipar_NewAgreementsAxis" />
    <link:label xlink:type="resource" xlink:label="label_ipar_NewAgreementsAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_NewAgreementsAxis" xml:lang="en-US" id="label_ipar_NewAgreementsAxis">Information by new agreements.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_NewAgreementsAxis" xlink:to="label_ipar_NewAgreementsAxis" xlink:title="Label : ipar_NewAgreementsAxis to label_ipar_NewAgreementsAxis" />
    <link:label xlink:type="resource" xlink:label="label_ipar_NewAgreementsAxis_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_NewAgreementsAxis_1" xml:lang="en-US" id="label_ipar_NewAgreementsAxis_1">New Agreements [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_NewAgreementsAxis" xlink:to="label_ipar_NewAgreementsAxis_1" xlink:title="Label : ipar_NewAgreementsAxis to label_ipar_NewAgreementsAxis_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityVoluntaryFilers" xlink:label="dei_EntityVoluntaryFilers" xlink:title="dei_EntityVoluntaryFilers" />
    <link:label xlink:type="resource" xlink:label="label_dei_EntityVoluntaryFilers" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_EntityVoluntaryFilers" xml:lang="en-US" id="label_dei_EntityVoluntaryFilers">Entity Voluntary Filers</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityVoluntaryFilers" xlink:to="label_dei_EntityVoluntaryFilers" xlink:title="Label : dei_EntityVoluntaryFilers to label_dei_EntityVoluntaryFilers" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_NewAgreementsDomain" xlink:label="ipar_NewAgreementsDomain" xlink:title="ipar_NewAgreementsDomain" />
    <link:label xlink:type="resource" xlink:label="label_ipar_NewAgreementsDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_NewAgreementsDomain" xml:lang="en-US" id="label_ipar_NewAgreementsDomain">Represents different new agreements.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_NewAgreementsDomain" xlink:to="label_ipar_NewAgreementsDomain" xlink:title="Label : ipar_NewAgreementsDomain to label_ipar_NewAgreementsDomain" />
    <link:label xlink:type="resource" xlink:label="label_ipar_NewAgreementsDomain_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_NewAgreementsDomain_1" xml:lang="en-US" id="label_ipar_NewAgreementsDomain_1">New Agreements [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_NewAgreementsDomain" xlink:to="label_ipar_NewAgreementsDomain_1" xlink:title="Label : ipar_NewAgreementsDomain to label_ipar_NewAgreementsDomain_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCurrentReportingStatus" xlink:label="dei_EntityCurrentReportingStatus" xlink:title="dei_EntityCurrentReportingStatus" />
    <link:label xlink:type="resource" xlink:label="label_dei_EntityCurrentReportingStatus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_EntityCurrentReportingStatus" xml:lang="en-US" id="label_dei_EntityCurrentReportingStatus">Entity Current Reporting Status</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCurrentReportingStatus" xlink:to="label_dei_EntityCurrentReportingStatus" xlink:title="Label : dei_EntityCurrentReportingStatus to label_dei_EntityCurrentReportingStatus" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_RochasBrandMember" xlink:label="ipar_RochasBrandMember" xlink:title="ipar_RochasBrandMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_RochasBrandMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_RochasBrandMember" xml:lang="en-US" id="label_ipar_RochasBrandMember">Represents information pertaining to Rochas brand.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_RochasBrandMember" xlink:to="label_ipar_RochasBrandMember" xlink:title="Label : ipar_RochasBrandMember to label_ipar_RochasBrandMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_RochasBrandMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_RochasBrandMember_1" xml:lang="en-US" id="label_ipar_RochasBrandMember_1">Rochas Brand [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_RochasBrandMember" xlink:to="label_ipar_RochasBrandMember_1" xlink:title="Label : ipar_RochasBrandMember to label_ipar_RochasBrandMember_1" />
    <link:label xlink:type="resource" xlink:label="label_ipar_RochasBrandMember_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ipar_RochasBrandMember_2" xml:lang="en-US" id="label_ipar_RochasBrandMember_2">Rochas brand [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_RochasBrandMember" xlink:to="label_ipar_RochasBrandMember_2" xlink:title="Label : ipar_RochasBrandMember to label_ipar_RochasBrandMember_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityFilerCategory" xlink:label="dei_EntityFilerCategory" xlink:title="dei_EntityFilerCategory" />
    <link:label xlink:type="resource" xlink:label="label_dei_EntityFilerCategory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_EntityFilerCategory" xml:lang="en-US" id="label_dei_EntityFilerCategory">Entity Filer Category</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFilerCategory" xlink:to="label_dei_EntityFilerCategory" xlink:title="Label : dei_EntityFilerCategory to label_dei_EntityFilerCategory" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_CoachIncMember" xlink:label="ipar_CoachIncMember" xlink:title="ipar_CoachIncMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_CoachIncMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_CoachIncMember" xml:lang="en-US" id="label_ipar_CoachIncMember">Represents information pertaining to Coach, Inc.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_CoachIncMember" xlink:to="label_ipar_CoachIncMember" xlink:title="Label : ipar_CoachIncMember to label_ipar_CoachIncMember" />
    <link:label xlink:type="resource" xlink:label="label_ipar_CoachIncMember_1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_CoachIncMember_1" xml:lang="en-US" id="label_ipar_CoachIncMember_1">Coach, Inc [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_CoachIncMember" xlink:to="label_ipar_CoachIncMember_1" xlink:title="Label : ipar_CoachIncMember to label_ipar_CoachIncMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityPublicFloat" xlink:label="dei_EntityPublicFloat" xlink:title="dei_EntityPublicFloat" />
    <link:label xlink:type="resource" xlink:label="label_dei_EntityPublicFloat" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_EntityPublicFloat" xml:lang="en-US" id="label_dei_EntityPublicFloat">Entity Public Float</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityPublicFloat" xlink:to="label_dei_EntityPublicFloat" xlink:title="Label : dei_EntityPublicFloat to label_dei_EntityPublicFloat" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_NewAgreementsLineItems" xlink:label="ipar_NewAgreementsLineItems" xlink:title="ipar_NewAgreementsLineItems" />
    <link:label xlink:type="resource" xlink:label="label_ipar_NewAgreementsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ipar_NewAgreementsLineItems" xml:lang="en-US" id="label_ipar_NewAgreementsLineItems">New Agreements [Line Items]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_NewAgreementsLineItems" xlink:to="label_ipar_NewAgreementsLineItems" xlink:title="Label : ipar_NewAgreementsLineItems to label_ipar_NewAgreementsLineItems" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityRegistrantName" xlink:label="dei_EntityRegistrantName" xlink:title="dei_EntityRegistrantName" />
    <link:label xlink:type="resource" xlink:label="label_dei_EntityRegistrantName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_EntityRegistrantName" xml:lang="en-US" id="label_dei_EntityRegistrantName">Entity Registrant Name</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="label_dei_EntityRegistrantName" xlink:title="Label : dei_EntityRegistrantName to label_dei_EntityRegistrantName" />
    <link:loc xlink:type="locator" xlink:href="ipar-20150331.xsd#ipar_DerivativeForwardExchangePricePerShare" xlink:label="ipar_DerivativeForwardExchangePricePerShare" xlink:title="ipar_DerivativeForwardExchangePricePerShare" />
    <link:label xlink:type="resource" xlink:label="label_ipar_DerivativeForwardExchangePricePerShare" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:title="label_ipar_DerivativeForwardExchangePricePerShare" xml:lang="en-US" id="label_ipar_DerivativeForwardExchangePricePerShare">Average contractual share price at which a foreign currency can be purchased or sold.</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_DerivativeForwardExchangePricePerShare" xlink:to="label_ipar_DerivativeForwardExchangePricePerShare" xlink:title="Label : ipar_DerivativeForwardExchangePricePerShare to label_ipar_DerivativeForwardExchangePricePerShare" />
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    <link:label xlink:type="resource" xlink:label="label_dei_EntityCentralIndexKey" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_EntityCentralIndexKey" xml:lang="en-US" id="label_dei_EntityCentralIndexKey">Entity Central Index Key</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCentralIndexKey" xlink:to="label_dei_EntityCentralIndexKey" xlink:title="Label : dei_EntityCentralIndexKey to label_dei_EntityCentralIndexKey" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ipar_AllocatedShareBasedCompensationExpenseEffectOnNetIncomeAttributableToParent" xlink:to="label_ipar_AllocatedShareBasedCompensationExpenseEffectOnNetIncomeAttributableToParent_3" xlink:title="Label : ipar_AllocatedShareBasedCompensationExpenseEffectOnNetIncomeAttributableToParent to label_ipar_AllocatedShareBasedCompensationExpenseEffectOnNetIncomeAttributableToParent_3" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="dei_EntityCommonStockSharesOutstanding" xlink:title="dei_EntityCommonStockSharesOutstanding" />
    <link:label xlink:type="resource" xlink:label="label_dei_EntityCommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_EntityCommonStockSharesOutstanding" xml:lang="en-US" id="label_dei_EntityCommonStockSharesOutstanding">Entity Common Stock, Shares Outstanding</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCommonStockSharesOutstanding" xlink:to="label_dei_EntityCommonStockSharesOutstanding" xlink:title="Label : dei_EntityCommonStockSharesOutstanding to label_dei_EntityCommonStockSharesOutstanding" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="dei_DocumentFiscalYearFocus" xlink:title="dei_DocumentFiscalYearFocus" />
    <link:label xlink:type="resource" xlink:label="label_dei_DocumentFiscalYearFocus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_DocumentFiscalYearFocus" xml:lang="en-US" id="label_dei_DocumentFiscalYearFocus">Document Fiscal Year Focus</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalYearFocus" xlink:to="label_dei_DocumentFiscalYearFocus" xlink:title="Label : dei_DocumentFiscalYearFocus to label_dei_DocumentFiscalYearFocus" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="dei_DocumentFiscalPeriodFocus" xlink:title="dei_DocumentFiscalPeriodFocus" />
    <link:label xlink:type="resource" xlink:label="label_dei_DocumentFiscalPeriodFocus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_DocumentFiscalPeriodFocus" xml:lang="en-US" id="label_dei_DocumentFiscalPeriodFocus">Document Fiscal Period Focus</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalPeriodFocus" xlink:to="label_dei_DocumentFiscalPeriodFocus" xlink:title="Label : dei_DocumentFiscalPeriodFocus to label_dei_DocumentFiscalPeriodFocus" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:title="dei_LegalEntityAxis" />
    <link:label xlink:type="resource" xlink:label="label_dei_LegalEntityAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_LegalEntityAxis" xml:lang="en-US" id="label_dei_LegalEntityAxis">Legal Entity [Axis]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LegalEntityAxis" xlink:to="label_dei_LegalEntityAxis" xlink:title="Label : dei_LegalEntityAxis to label_dei_LegalEntityAxis" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentType" xlink:label="dei_DocumentType" xlink:title="dei_DocumentType" />
    <link:label xlink:type="resource" xlink:label="label_dei_DocumentType" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_dei_DocumentType" xml:lang="en-US" id="label_dei_DocumentType">Document Type</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentType" xlink:to="label_dei_DocumentType" xlink:title="Label : dei_DocumentType to label_dei_DocumentType" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="us-gaap_AccountingPoliciesAbstract" xlink:title="us-gaap_AccountingPoliciesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AccountingPoliciesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_AccountingPoliciesAbstract" xml:lang="en-US" id="label_us-gaap_AccountingPoliciesAbstract">Significant Accounting Policies [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountingPoliciesAbstract" xlink:to="label_us-gaap_AccountingPoliciesAbstract" xlink:title="Label : us-gaap_AccountingPoliciesAbstract to label_us-gaap_AccountingPoliciesAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" xlink:title="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" xml:lang="en-US" id="label_us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock">Accounts Payable and Accrued Liabilities Disclosure [Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" xlink:to="label_us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" xlink:title="Label : us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock to label_us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_1" xml:lang="en-US" id="label_us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_1">Accrued Expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" xlink:to="label_us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_1" xlink:title="Label : us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock to label_us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_AccountsReceivableNetCurrent" xlink:label="us-gaap_AccountsReceivableNetCurrent" xlink:title="us-gaap_AccountsReceivableNetCurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AccountsReceivableNetCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_AccountsReceivableNetCurrent" xml:lang="en-US" id="label_us-gaap_AccountsReceivableNetCurrent">Accounts Receivable, Net, Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsReceivableNetCurrent" xlink:to="label_us-gaap_AccountsReceivableNetCurrent" xlink:title="Label : us-gaap_AccountsReceivableNetCurrent to label_us-gaap_AccountsReceivableNetCurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AccountsReceivableNetCurrent_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_AccountsReceivableNetCurrent_1" xml:lang="en-US" id="label_us-gaap_AccountsReceivableNetCurrent_1">Accounts receivable, net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsReceivableNetCurrent" xlink:to="label_us-gaap_AccountsReceivableNetCurrent_1" xlink:title="Label : us-gaap_AccountsReceivableNetCurrent to label_us-gaap_AccountsReceivableNetCurrent_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_AccountsPayableCurrent" xlink:label="us-gaap_AccountsPayableCurrent" xlink:title="us-gaap_AccountsPayableCurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AccountsPayableCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_AccountsPayableCurrent" xml:lang="en-US" id="label_us-gaap_AccountsPayableCurrent">Accounts Payable, Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableCurrent" xlink:to="label_us-gaap_AccountsPayableCurrent" xlink:title="Label : us-gaap_AccountsPayableCurrent to label_us-gaap_AccountsPayableCurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AccountsPayableCurrent_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_AccountsPayableCurrent_1" xml:lang="en-US" id="label_us-gaap_AccountsPayableCurrent_1">Accounts payable - trade</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableCurrent" xlink:to="label_us-gaap_AccountsPayableCurrent_1" xlink:title="Label : us-gaap_AccountsPayableCurrent to label_us-gaap_AccountsPayableCurrent_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrentAbstract" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrentAbstract" xlink:title="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrentAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrentAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrentAbstract" xml:lang="en-US" id="label_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrentAbstract">Accrued Expenses [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrentAbstract" xlink:to="label_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrentAbstract" xlink:title="Label : us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrentAbstract to label_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrentAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/country/2013/country-2013-01-31.xsd#country_US" xlink:label="country_US" xlink:title="country_US" />
    <link:label xlink:type="resource" xlink:label="label_country_US" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_country_US" xml:lang="en-US" id="label_country_US">United States [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_US" xlink:to="label_country_US" xlink:title="Label : country_US to label_country_US" />
    <link:label xlink:type="resource" xlink:label="label_country_US_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_country_US_1" xml:lang="en-US" id="label_country_US_1">Unites States [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_US" xlink:to="label_country_US_1" xlink:title="Label : country_US to label_country_US_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_AccruedAdvertisingCurrent" xlink:label="us-gaap_AccruedAdvertisingCurrent" xlink:title="us-gaap_AccruedAdvertisingCurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AccruedAdvertisingCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_AccruedAdvertisingCurrent" xml:lang="en-US" id="label_us-gaap_AccruedAdvertisingCurrent">Accrued Advertising, Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccruedAdvertisingCurrent" xlink:to="label_us-gaap_AccruedAdvertisingCurrent" xlink:title="Label : us-gaap_AccruedAdvertisingCurrent to label_us-gaap_AccruedAdvertisingCurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AccruedAdvertisingCurrent_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_AccruedAdvertisingCurrent_1" xml:lang="en-US" id="label_us-gaap_AccruedAdvertisingCurrent_1">Accrued advertising liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccruedAdvertisingCurrent" xlink:to="label_us-gaap_AccruedAdvertisingCurrent_1" xlink:title="Label : us-gaap_AccruedAdvertisingCurrent to label_us-gaap_AccruedAdvertisingCurrent_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_AccruedIncomeTaxesCurrent" xlink:label="us-gaap_AccruedIncomeTaxesCurrent" xlink:title="us-gaap_AccruedIncomeTaxesCurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AccruedIncomeTaxesCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_AccruedIncomeTaxesCurrent" xml:lang="en-US" id="label_us-gaap_AccruedIncomeTaxesCurrent">Accrued Income Taxes, Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccruedIncomeTaxesCurrent" xlink:to="label_us-gaap_AccruedIncomeTaxesCurrent" xlink:title="Label : us-gaap_AccruedIncomeTaxesCurrent to label_us-gaap_AccruedIncomeTaxesCurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_AccruedIncomeTaxesCurrent_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_AccruedIncomeTaxesCurrent_1" xml:lang="en-US" id="label_us-gaap_AccruedIncomeTaxesCurrent_1">Income taxes payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccruedIncomeTaxesCurrent" xlink:to="label_us-gaap_AccruedIncomeTaxesCurrent_1" xlink:title="Label : us-gaap_AccruedIncomeTaxesCurrent to label_us-gaap_AccruedIncomeTaxesCurrent_1" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_AccruedLiabilitiesCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_AccruedLiabilitiesCurrent" xml:lang="en-US" id="label_us-gaap_AccruedLiabilitiesCurrent">Accrued Liabilities, Current</link:label>
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_CommonStockValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_CommonStockValue" xml:lang="en-US" id="label_us-gaap_CommonStockValue">Common Stock, Value, Issued</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockDividendsPerShareDeclared" xlink:to="label_us-gaap_CommonStockDividendsPerShareDeclared" xlink:title="Label : us-gaap_CommonStockDividendsPerShareDeclared to label_us-gaap_CommonStockDividendsPerShareDeclared" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_CommonStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_CommonStockSharesAuthorized" xml:lang="en-US" id="label_us-gaap_CommonStockSharesAuthorized">Common Stock, Shares Authorized</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ComponentsOfDeferredTaxLiabilitiesAbstract" xlink:label="us-gaap_ComponentsOfDeferredTaxLiabilitiesAbstract" xlink:title="us-gaap_ComponentsOfDeferredTaxLiabilitiesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_ComponentsOfDeferredTaxLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_ComponentsOfDeferredTaxLiabilitiesAbstract" xml:lang="en-US" id="label_us-gaap_ComponentsOfDeferredTaxLiabilitiesAbstract">Components of Deferred Tax Liabilities [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ComponentsOfDeferredTaxLiabilitiesAbstract" xlink:to="label_us-gaap_ComponentsOfDeferredTaxLiabilitiesAbstract" xlink:title="Label : us-gaap_ComponentsOfDeferredTaxLiabilitiesAbstract to label_us-gaap_ComponentsOfDeferredTaxLiabilitiesAbstract" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ComponentsOfDeferredTaxLiabilitiesAbstract" xlink:to="label_us-gaap_ComponentsOfDeferredTaxLiabilitiesAbstract_1" xlink:title="Label : us-gaap_ComponentsOfDeferredTaxLiabilitiesAbstract to label_us-gaap_ComponentsOfDeferredTaxLiabilitiesAbstract_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ComprehensiveIncomeNetOfTax" xlink:to="label_us-gaap_ComprehensiveIncomeNetOfTax" xlink:title="Label : us-gaap_ComprehensiveIncomeNetOfTax to label_us-gaap_ComprehensiveIncomeNetOfTax" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterestAbstract" xlink:label="us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterestAbstract" xlink:title="us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterestAbstract" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DividendPayableDateToBePaidDayMonthAndYear" xlink:to="label_us-gaap_DividendPayableDateToBePaidDayMonthAndYear" xlink:title="Label : us-gaap_DividendPayableDateToBePaidDayMonthAndYear to label_us-gaap_DividendPayableDateToBePaidDayMonthAndYear" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DividendPayableDateToBePaidDayMonthAndYear" xlink:to="label_us-gaap_DividendPayableDateToBePaidDayMonthAndYear_1" xlink:title="Label : us-gaap_DividendPayableDateToBePaidDayMonthAndYear to label_us-gaap_DividendPayableDateToBePaidDayMonthAndYear_1" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_DividendsPayableAmountPerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_DividendsPayableAmountPerShare" xml:lang="en-US" id="label_us-gaap_DividendsPayableAmountPerShare">Dividends Payable, Amount Per Share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DividendsPayableAmountPerShare" xlink:to="label_us-gaap_DividendsPayableAmountPerShare" xlink:title="Label : us-gaap_DividendsPayableAmountPerShare to label_us-gaap_DividendsPayableAmountPerShare" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DividendsPayableAmountPerShare_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_DividendsPayableAmountPerShare_1" xml:lang="en-US" id="label_us-gaap_DividendsPayableAmountPerShare_1">Dividends declared, per share quarterly</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DividendsPayableAmountPerShare" xlink:to="label_us-gaap_DividendsPayableAmountPerShare_1" xlink:title="Label : us-gaap_DividendsPayableAmountPerShare to label_us-gaap_DividendsPayableAmountPerShare_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_DividendsPayableDateToBePaidMonthAndYear" xlink:label="us-gaap_DividendsPayableDateToBePaidMonthAndYear" xlink:title="us-gaap_DividendsPayableDateToBePaidMonthAndYear" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DividendsPayableDateToBePaidMonthAndYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_DividendsPayableDateToBePaidMonthAndYear" xml:lang="en-US" id="label_us-gaap_DividendsPayableDateToBePaidMonthAndYear">Dividends Payable, Date to be Paid, Year and Month</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DividendsPayableDateToBePaidMonthAndYear" xlink:to="label_us-gaap_DividendsPayableDateToBePaidMonthAndYear" xlink:title="Label : us-gaap_DividendsPayableDateToBePaidMonthAndYear to label_us-gaap_DividendsPayableDateToBePaidMonthAndYear" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DividendsPayableDateToBePaidMonthAndYear_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_DividendsPayableDateToBePaidMonthAndYear_1" xml:lang="en-US" id="label_us-gaap_DividendsPayableDateToBePaidMonthAndYear_1">Dividends declared, payment date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DividendsPayableDateToBePaidMonthAndYear" xlink:to="label_us-gaap_DividendsPayableDateToBePaidMonthAndYear_1" xlink:title="Label : us-gaap_DividendsPayableDateToBePaidMonthAndYear to label_us-gaap_DividendsPayableDateToBePaidMonthAndYear_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DividendsCash" xlink:to="label_us-gaap_DividendsCash" xlink:title="Label : us-gaap_DividendsCash to label_us-gaap_DividendsCash" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DividendsCash_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_us-gaap_DividendsCash_1" xml:lang="en-US" id="label_us-gaap_DividendsCash_1">Dividends</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DividendsCash" xlink:to="label_us-gaap_DividendsCash_1" xlink:title="Label : us-gaap_DividendsCash to label_us-gaap_DividendsCash_1" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_DividendsPayableDateDeclaredMonthAndYear_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_DividendsPayableDateDeclaredMonthAndYear_1" xml:lang="en-US" id="label_us-gaap_DividendsPayableDateDeclaredMonthAndYear_1">Dividends declared, date</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DividendsPayableDateDeclaredMonthAndYear" xlink:to="label_us-gaap_DividendsPayableDateDeclaredMonthAndYear_1" xlink:title="Label : us-gaap_DividendsPayableDateDeclaredMonthAndYear to label_us-gaap_DividendsPayableDateDeclaredMonthAndYear_1" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_DividendsPayableCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_DividendsPayableCurrentAndNoncurrent" xml:lang="en-US" id="label_us-gaap_DividendsPayableCurrentAndNoncurrent">Dividends Payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DividendsPayableCurrentAndNoncurrent" xlink:to="label_us-gaap_DividendsPayableCurrentAndNoncurrent" xlink:title="Label : us-gaap_DividendsPayableCurrentAndNoncurrent to label_us-gaap_DividendsPayableCurrentAndNoncurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_DividendsPayableCurrentAndNoncurrent_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_DividendsPayableCurrentAndNoncurrent_1" xml:lang="en-US" id="label_us-gaap_DividendsPayableCurrentAndNoncurrent_1">Dividends declared</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DividendsPayableCurrentAndNoncurrent" xlink:to="label_us-gaap_DividendsPayableCurrentAndNoncurrent_1" xlink:title="Label : us-gaap_DividendsPayableCurrentAndNoncurrent to label_us-gaap_DividendsPayableCurrentAndNoncurrent_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DividendsPayableCurrent" xlink:to="label_us-gaap_DividendsPayableCurrent_1" xlink:title="Label : us-gaap_DividendsPayableCurrent to label_us-gaap_DividendsPayableCurrent_1" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:title="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:label="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:title="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:label="us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:title="us-gaap_IncreaseDecreaseInOtherOperatingAssets" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_InterestExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_InterestExpense" xml:lang="en-US" id="label_us-gaap_InterestExpense">Interest Expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestExpense" xlink:to="label_us-gaap_InterestExpense" xlink:title="Label : us-gaap_InterestExpense to label_us-gaap_InterestExpense" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InterestExpense_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_InterestExpense_1" xml:lang="en-US" id="label_us-gaap_InterestExpense_1">Interest expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestExpense" xlink:to="label_us-gaap_InterestExpense_1" xlink:title="Label : us-gaap_InterestExpense to label_us-gaap_InterestExpense_1" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InterestExpense_2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_InterestExpense_2" xml:lang="en-US" id="label_us-gaap_InterestExpense_2">Interest expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestExpense" xlink:to="label_us-gaap_InterestExpense_2" xlink:title="Label : us-gaap_InterestExpense to label_us-gaap_InterestExpense_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_InterestPaid" xlink:label="us-gaap_InterestPaid" xlink:title="us-gaap_InterestPaid" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InterestPaid" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_InterestPaid" xml:lang="en-US" id="label_us-gaap_InterestPaid">Interest Paid</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestPaid" xlink:to="label_us-gaap_InterestPaid" xlink:title="Label : us-gaap_InterestPaid to label_us-gaap_InterestPaid" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InterestPaid_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_InterestPaid_1" xml:lang="en-US" id="label_us-gaap_InterestPaid_1">Interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestPaid" xlink:to="label_us-gaap_InterestPaid_1" xlink:title="Label : us-gaap_InterestPaid to label_us-gaap_InterestPaid_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_InterestRateContractMember" xlink:label="us-gaap_InterestRateContractMember" xlink:title="us-gaap_InterestRateContractMember" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InterestRateContractMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_InterestRateContractMember" xml:lang="en-US" id="label_us-gaap_InterestRateContractMember">Interest rate swaps [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestRateContractMember" xlink:to="label_us-gaap_InterestRateContractMember" xlink:title="Label : us-gaap_InterestRateContractMember to label_us-gaap_InterestRateContractMember" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_InterestExpenseMember" xlink:label="us-gaap_InterestExpenseMember" xlink:title="us-gaap_InterestExpenseMember" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InterestExpenseMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_InterestExpenseMember" xml:lang="en-US" id="label_us-gaap_InterestExpenseMember">Interest expense [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestExpenseMember" xlink:to="label_us-gaap_InterestExpenseMember" xlink:title="Label : us-gaap_InterestExpenseMember to label_us-gaap_InterestExpenseMember" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_InventoryNet" xlink:label="us-gaap_InventoryNet" xlink:title="us-gaap_InventoryNet" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InventoryNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_InventoryNet" xml:lang="en-US" id="label_us-gaap_InventoryNet">Inventory, Net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryNet" xlink:to="label_us-gaap_InventoryNet" xlink:title="Label : us-gaap_InventoryNet to label_us-gaap_InventoryNet" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InventoryNet_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_InventoryNet_1" xml:lang="en-US" id="label_us-gaap_InventoryNet_1">Inventories</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryNet" xlink:to="label_us-gaap_InventoryNet_1" xlink:title="Label : us-gaap_InventoryNet to label_us-gaap_InventoryNet_1" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InventoryNet_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_us-gaap_InventoryNet_2" xml:lang="en-US" id="label_us-gaap_InventoryNet_2">Inventories</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryNet" xlink:to="label_us-gaap_InventoryNet_2" xlink:title="Label : us-gaap_InventoryNet to label_us-gaap_InventoryNet_2" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_InventoryFinishedGoods" xlink:label="us-gaap_InventoryFinishedGoods" xlink:title="us-gaap_InventoryFinishedGoods" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InventoryFinishedGoods" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_InventoryFinishedGoods" xml:lang="en-US" id="label_us-gaap_InventoryFinishedGoods">Inventory, Finished Goods, Gross</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryFinishedGoods" xlink:to="label_us-gaap_InventoryFinishedGoods" xlink:title="Label : us-gaap_InventoryFinishedGoods to label_us-gaap_InventoryFinishedGoods" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InventoryFinishedGoods_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_InventoryFinishedGoods_1" xml:lang="en-US" id="label_us-gaap_InventoryFinishedGoods_1">Finished goods</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryFinishedGoods" xlink:to="label_us-gaap_InventoryFinishedGoods_1" xlink:title="Label : us-gaap_InventoryFinishedGoods to label_us-gaap_InventoryFinishedGoods_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_InventoryValuationReserveMember" xlink:label="us-gaap_InventoryValuationReserveMember" xlink:title="us-gaap_InventoryValuationReserveMember" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InventoryValuationReserveMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_InventoryValuationReserveMember" xml:lang="en-US" id="label_us-gaap_InventoryValuationReserveMember">Inventory Valuation Reserve [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryValuationReserveMember" xlink:to="label_us-gaap_InventoryValuationReserveMember" xlink:title="Label : us-gaap_InventoryValuationReserveMember to label_us-gaap_InventoryValuationReserveMember" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InventoryValuationReserveMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_InventoryValuationReserveMember_1" xml:lang="en-US" id="label_us-gaap_InventoryValuationReserveMember_1">Inventory Reserve [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryValuationReserveMember" xlink:to="label_us-gaap_InventoryValuationReserveMember_1" xlink:title="Label : us-gaap_InventoryValuationReserveMember to label_us-gaap_InventoryValuationReserveMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_InventoryGross" xlink:label="us-gaap_InventoryGross" xlink:title="us-gaap_InventoryGross" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InventoryGross" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_InventoryGross" xml:lang="en-US" id="label_us-gaap_InventoryGross">Inventory, Gross</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryGross" xlink:to="label_us-gaap_InventoryGross" xlink:title="Label : us-gaap_InventoryGross to label_us-gaap_InventoryGross" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InventoryGross_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_InventoryGross_1" xml:lang="en-US" id="label_us-gaap_InventoryGross_1">Estimated aggregate inventories</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryGross" xlink:to="label_us-gaap_InventoryGross_1" xlink:title="Label : us-gaap_InventoryGross to label_us-gaap_InventoryGross_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_InventoryPolicyTextBlock" xlink:label="us-gaap_InventoryPolicyTextBlock" xlink:title="us-gaap_InventoryPolicyTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InventoryPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_InventoryPolicyTextBlock" xml:lang="en-US" id="label_us-gaap_InventoryPolicyTextBlock">Inventory, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryPolicyTextBlock" xlink:to="label_us-gaap_InventoryPolicyTextBlock" xlink:title="Label : us-gaap_InventoryPolicyTextBlock to label_us-gaap_InventoryPolicyTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InventoryPolicyTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_InventoryPolicyTextBlock_1" xml:lang="en-US" id="label_us-gaap_InventoryPolicyTextBlock_1">Inventories</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryPolicyTextBlock" xlink:to="label_us-gaap_InventoryPolicyTextBlock_1" xlink:title="Label : us-gaap_InventoryPolicyTextBlock to label_us-gaap_InventoryPolicyTextBlock_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_InventoryDisclosureTextBlock" xlink:label="us-gaap_InventoryDisclosureTextBlock" xlink:title="us-gaap_InventoryDisclosureTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InventoryDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_InventoryDisclosureTextBlock" xml:lang="en-US" id="label_us-gaap_InventoryDisclosureTextBlock">Inventory Disclosure [Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryDisclosureTextBlock" xlink:to="label_us-gaap_InventoryDisclosureTextBlock" xlink:title="Label : us-gaap_InventoryDisclosureTextBlock to label_us-gaap_InventoryDisclosureTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InventoryDisclosureTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_InventoryDisclosureTextBlock_1" xml:lang="en-US" id="label_us-gaap_InventoryDisclosureTextBlock_1">Inventories</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryDisclosureTextBlock" xlink:to="label_us-gaap_InventoryDisclosureTextBlock_1" xlink:title="Label : us-gaap_InventoryDisclosureTextBlock to label_us-gaap_InventoryDisclosureTextBlock_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_InventoryWriteDown" xlink:label="us-gaap_InventoryWriteDown" xlink:title="us-gaap_InventoryWriteDown" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InventoryWriteDown" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_InventoryWriteDown" xml:lang="en-US" id="label_us-gaap_InventoryWriteDown">Inventory Write-down</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryWriteDown" xlink:to="label_us-gaap_InventoryWriteDown" xlink:title="Label : us-gaap_InventoryWriteDown to label_us-gaap_InventoryWriteDown" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InventoryWriteDown_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_InventoryWriteDown_1" xml:lang="en-US" id="label_us-gaap_InventoryWriteDown_1">Inventory reserves</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryWriteDown" xlink:to="label_us-gaap_InventoryWriteDown_1" xlink:title="Label : us-gaap_InventoryWriteDown to label_us-gaap_InventoryWriteDown_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_InventoryValuationReserves" xlink:label="us-gaap_InventoryValuationReserves" xlink:title="us-gaap_InventoryValuationReserves" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InventoryValuationReserves" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_InventoryValuationReserves" xml:lang="en-US" id="label_us-gaap_InventoryValuationReserves">Inventory Valuation Reserves</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryValuationReserves" xlink:to="label_us-gaap_InventoryValuationReserves" xlink:title="Label : us-gaap_InventoryValuationReserves to label_us-gaap_InventoryValuationReserves" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InventoryValuationReserves_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_InventoryValuationReserves_1" xml:lang="en-US" id="label_us-gaap_InventoryValuationReserves_1">Inventory reserves</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryValuationReserves" xlink:to="label_us-gaap_InventoryValuationReserves_1" xlink:title="Label : us-gaap_InventoryValuationReserves to label_us-gaap_InventoryValuationReserves_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_InventoryDisclosureAbstract" xlink:label="us-gaap_InventoryDisclosureAbstract" xlink:title="us-gaap_InventoryDisclosureAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InventoryDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_InventoryDisclosureAbstract" xml:lang="en-US" id="label_us-gaap_InventoryDisclosureAbstract">Inventories [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryDisclosureAbstract" xlink:to="label_us-gaap_InventoryDisclosureAbstract" xlink:title="Label : us-gaap_InventoryDisclosureAbstract to label_us-gaap_InventoryDisclosureAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_InventoryRawMaterials" xlink:label="us-gaap_InventoryRawMaterials" xlink:title="us-gaap_InventoryRawMaterials" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InventoryRawMaterials" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_InventoryRawMaterials" xml:lang="en-US" id="label_us-gaap_InventoryRawMaterials">Inventory, Raw Materials, Gross</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryRawMaterials" xlink:to="label_us-gaap_InventoryRawMaterials" xlink:title="Label : us-gaap_InventoryRawMaterials to label_us-gaap_InventoryRawMaterials" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InventoryRawMaterials_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_InventoryRawMaterials_1" xml:lang="en-US" id="label_us-gaap_InventoryRawMaterials_1">Raw materials and component parts</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryRawMaterials" xlink:to="label_us-gaap_InventoryRawMaterials_1" xlink:title="Label : us-gaap_InventoryRawMaterials to label_us-gaap_InventoryRawMaterials_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_InvestmentIncomeInterestAndDividend" xlink:label="us-gaap_InvestmentIncomeInterestAndDividend" xlink:title="us-gaap_InvestmentIncomeInterestAndDividend" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InvestmentIncomeInterestAndDividend" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_InvestmentIncomeInterestAndDividend" xml:lang="en-US" id="label_us-gaap_InvestmentIncomeInterestAndDividend">Investment Income, Interest and Dividend</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentIncomeInterestAndDividend" xlink:to="label_us-gaap_InvestmentIncomeInterestAndDividend" xlink:title="Label : us-gaap_InvestmentIncomeInterestAndDividend to label_us-gaap_InvestmentIncomeInterestAndDividend" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InvestmentIncomeInterestAndDividend_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_InvestmentIncomeInterestAndDividend_1" xml:lang="en-US" id="label_us-gaap_InvestmentIncomeInterestAndDividend_1">Interest and dividend income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentIncomeInterestAndDividend" xlink:to="label_us-gaap_InvestmentIncomeInterestAndDividend_1" xlink:title="Label : us-gaap_InvestmentIncomeInterestAndDividend to label_us-gaap_InvestmentIncomeInterestAndDividend_1" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InvestmentIncomeInterestAndDividend_2" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_us-gaap_InvestmentIncomeInterestAndDividend_2" xml:lang="en-US" id="label_us-gaap_InvestmentIncomeInterestAndDividend_2">Interest and dividend income</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentIncomeInterestAndDividend" xlink:to="label_us-gaap_InvestmentIncomeInterestAndDividend_2" xlink:title="Label : us-gaap_InvestmentIncomeInterestAndDividend to label_us-gaap_InvestmentIncomeInterestAndDividend_2" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_InvestmentsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_InvestmentsFairValueDisclosure" xml:lang="en-US" id="label_us-gaap_InvestmentsFairValueDisclosure">Investments, Fair Value Disclosure</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentsFairValueDisclosure" xlink:to="label_us-gaap_InvestmentsFairValueDisclosure" xlink:title="Label : us-gaap_InvestmentsFairValueDisclosure to label_us-gaap_InvestmentsFairValueDisclosure" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_InvestmentsFairValueDisclosure_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_InvestmentsFairValueDisclosure_1" xml:lang="en-US" id="label_us-gaap_InvestmentsFairValueDisclosure_1">Short-term investments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentsFairValueDisclosure" xlink:to="label_us-gaap_InvestmentsFairValueDisclosure_1" xlink:title="Label : us-gaap_InvestmentsFairValueDisclosure to label_us-gaap_InvestmentsFairValueDisclosure_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_LatinAmericaMember" xlink:label="us-gaap_LatinAmericaMember" xlink:title="us-gaap_LatinAmericaMember" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LatinAmericaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_LatinAmericaMember" xml:lang="en-US" id="label_us-gaap_LatinAmericaMember">Latin America [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LatinAmericaMember" xlink:to="label_us-gaap_LatinAmericaMember" xlink:title="Label : us-gaap_LatinAmericaMember to label_us-gaap_LatinAmericaMember" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LatinAmericaMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_LatinAmericaMember_1" xml:lang="en-US" id="label_us-gaap_LatinAmericaMember_1">Central and South America [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LatinAmericaMember" xlink:to="label_us-gaap_LatinAmericaMember_1" xlink:title="Label : us-gaap_LatinAmericaMember to label_us-gaap_LatinAmericaMember_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_LaborAndRelatedExpense" xlink:label="us-gaap_LaborAndRelatedExpense" xlink:title="us-gaap_LaborAndRelatedExpense" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LaborAndRelatedExpense" xlink:to="label_us-gaap_LaborAndRelatedExpense" xlink:title="Label : us-gaap_LaborAndRelatedExpense to label_us-gaap_LaborAndRelatedExpense" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LaborAndRelatedExpense_1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_us-gaap_LaborAndRelatedExpense_1" xml:lang="en-US" id="label_us-gaap_LaborAndRelatedExpense_1">Wages including $13.8 million in Interparfums SA profit sharing requirements</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_LeasePolicyTextBlock" xlink:label="us-gaap_LeasePolicyTextBlock" xlink:title="us-gaap_LeasePolicyTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LeasePolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_LeasePolicyTextBlock" xml:lang="en-US" id="label_us-gaap_LeasePolicyTextBlock">Lease, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeasePolicyTextBlock" xlink:to="label_us-gaap_LeasePolicyTextBlock" xlink:title="Label : us-gaap_LeasePolicyTextBlock to label_us-gaap_LeasePolicyTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LeasePolicyTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_LeasePolicyTextBlock_1" xml:lang="en-US" id="label_us-gaap_LeasePolicyTextBlock_1">Operating Leases</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeasePolicyTextBlock" xlink:to="label_us-gaap_LeasePolicyTextBlock_1" xlink:title="Label : us-gaap_LeasePolicyTextBlock to label_us-gaap_LeasePolicyTextBlock_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_LeaseholdImprovementsMember" xlink:label="us-gaap_LeaseholdImprovementsMember" xlink:title="us-gaap_LeaseholdImprovementsMember" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LeaseholdImprovementsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_LeaseholdImprovementsMember" xml:lang="en-US" id="label_us-gaap_LeaseholdImprovementsMember">Leasehold Improvements [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeaseholdImprovementsMember" xlink:to="label_us-gaap_LeaseholdImprovementsMember" xlink:title="Label : us-gaap_LeaseholdImprovementsMember to label_us-gaap_LeaseholdImprovementsMember" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_LiabilitiesCurrent" xlink:label="us-gaap_LiabilitiesCurrent" xlink:title="us-gaap_LiabilitiesCurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LiabilitiesCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_LiabilitiesCurrent" xml:lang="en-US" id="label_us-gaap_LiabilitiesCurrent">Liabilities, Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesCurrent" xlink:to="label_us-gaap_LiabilitiesCurrent" xlink:title="Label : us-gaap_LiabilitiesCurrent to label_us-gaap_LiabilitiesCurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LiabilitiesCurrent_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_us-gaap_LiabilitiesCurrent_1" xml:lang="en-US" id="label_us-gaap_LiabilitiesCurrent_1">Total current liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesCurrent" xlink:to="label_us-gaap_LiabilitiesCurrent_1" xlink:title="Label : us-gaap_LiabilitiesCurrent to label_us-gaap_LiabilitiesCurrent_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity" xlink:title="us-gaap_LiabilitiesAndStockholdersEquity" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LiabilitiesAndStockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_LiabilitiesAndStockholdersEquity" xml:lang="en-US" id="label_us-gaap_LiabilitiesAndStockholdersEquity">Liabilities and Equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="label_us-gaap_LiabilitiesAndStockholdersEquity" xlink:title="Label : us-gaap_LiabilitiesAndStockholdersEquity to label_us-gaap_LiabilitiesAndStockholdersEquity" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LiabilitiesAndStockholdersEquity_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_us-gaap_LiabilitiesAndStockholdersEquity_1" xml:lang="en-US" id="label_us-gaap_LiabilitiesAndStockholdersEquity_1">Total liabilities and equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="label_us-gaap_LiabilitiesAndStockholdersEquity_1" xlink:title="Label : us-gaap_LiabilitiesAndStockholdersEquity to label_us-gaap_LiabilitiesAndStockholdersEquity_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_LiabilitiesCurrentAbstract" xlink:label="us-gaap_LiabilitiesCurrentAbstract" xlink:title="us-gaap_LiabilitiesCurrentAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LiabilitiesCurrentAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_LiabilitiesCurrentAbstract" xml:lang="en-US" id="label_us-gaap_LiabilitiesCurrentAbstract">Liabilities, Current [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesCurrentAbstract" xlink:to="label_us-gaap_LiabilitiesCurrentAbstract" xlink:title="Label : us-gaap_LiabilitiesCurrentAbstract to label_us-gaap_LiabilitiesCurrentAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LiabilitiesCurrentAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_LiabilitiesCurrentAbstract_1" xml:lang="en-US" id="label_us-gaap_LiabilitiesCurrentAbstract_1">Current liabilities:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesCurrentAbstract" xlink:to="label_us-gaap_LiabilitiesCurrentAbstract_1" xlink:title="Label : us-gaap_LiabilitiesCurrentAbstract to label_us-gaap_LiabilitiesCurrentAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:label="us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:title="us-gaap_LiabilitiesAndStockholdersEquityAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xml:lang="en-US" id="label_us-gaap_LiabilitiesAndStockholdersEquityAbstract">Liabilities and Equity [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:to="label_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:title="Label : us-gaap_LiabilitiesAndStockholdersEquityAbstract to label_us-gaap_LiabilitiesAndStockholdersEquityAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LiabilitiesAndStockholdersEquityAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_LiabilitiesAndStockholdersEquityAbstract_1" xml:lang="en-US" id="label_us-gaap_LiabilitiesAndStockholdersEquityAbstract_1">LIABILITIES AND EQUITY</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:to="label_us-gaap_LiabilitiesAndStockholdersEquityAbstract_1" xlink:title="Label : us-gaap_LiabilitiesAndStockholdersEquityAbstract to label_us-gaap_LiabilitiesAndStockholdersEquityAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_LiabilitiesFairValueDisclosureAbstract" xlink:label="us-gaap_LiabilitiesFairValueDisclosureAbstract" xlink:title="us-gaap_LiabilitiesFairValueDisclosureAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LiabilitiesFairValueDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_LiabilitiesFairValueDisclosureAbstract" xml:lang="en-US" id="label_us-gaap_LiabilitiesFairValueDisclosureAbstract">Liabilities, Fair Value Disclosure [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesFairValueDisclosureAbstract" xlink:to="label_us-gaap_LiabilitiesFairValueDisclosureAbstract" xlink:title="Label : us-gaap_LiabilitiesFairValueDisclosureAbstract to label_us-gaap_LiabilitiesFairValueDisclosureAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LiabilitiesFairValueDisclosureAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_LiabilitiesFairValueDisclosureAbstract_1" xml:lang="en-US" id="label_us-gaap_LiabilitiesFairValueDisclosureAbstract_1">Liabilities:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesFairValueDisclosureAbstract" xlink:to="label_us-gaap_LiabilitiesFairValueDisclosureAbstract_1" xlink:title="Label : us-gaap_LiabilitiesFairValueDisclosureAbstract to label_us-gaap_LiabilitiesFairValueDisclosureAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_LicenseCosts" xlink:label="us-gaap_LicenseCosts" xlink:title="us-gaap_LicenseCosts" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LicenseCosts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_LicenseCosts" xml:lang="en-US" id="label_us-gaap_LicenseCosts">License Costs</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LicenseCosts" xlink:to="label_us-gaap_LicenseCosts" xlink:title="Label : us-gaap_LicenseCosts to label_us-gaap_LicenseCosts" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LicenseCosts_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_LicenseCosts_1" xml:lang="en-US" id="label_us-gaap_LicenseCosts_1">License entry fee</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LicenseCosts" xlink:to="label_us-gaap_LicenseCosts_1" xlink:title="Label : us-gaap_LicenseCosts to label_us-gaap_LicenseCosts_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_LicensingAgreementsMember" xlink:label="us-gaap_LicensingAgreementsMember" xlink:title="us-gaap_LicensingAgreementsMember" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LicensingAgreementsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_LicensingAgreementsMember" xml:lang="en-US" id="label_us-gaap_LicensingAgreementsMember">Licensing Agreements [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LicensingAgreementsMember" xlink:to="label_us-gaap_LicensingAgreementsMember" xlink:title="Label : us-gaap_LicensingAgreementsMember to label_us-gaap_LicensingAgreementsMember" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LicensingAgreementsMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_LicensingAgreementsMember_1" xml:lang="en-US" id="label_us-gaap_LicensingAgreementsMember_1">Licenses [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LicensingAgreementsMember" xlink:to="label_us-gaap_LicensingAgreementsMember_1" xlink:title="Label : us-gaap_LicensingAgreementsMember to label_us-gaap_LicensingAgreementsMember_1" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_LineOfCredit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_LineOfCredit" xml:lang="en-US" id="label_us-gaap_LineOfCredit">Long-term Line of Credit</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCredit" xlink:to="label_us-gaap_LineOfCredit" xlink:title="Label : us-gaap_LineOfCredit to label_us-gaap_LineOfCredit" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_LineOfCredit_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_LineOfCredit_1" xml:lang="en-US" id="label_us-gaap_LineOfCredit_1">Line of credit, amount outstanding</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCredit" xlink:to="label_us-gaap_LineOfCredit_1" xlink:title="Label : us-gaap_LineOfCredit to label_us-gaap_LineOfCredit_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:to="label_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:title="Label : us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity to label_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:to="label_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_1" xlink:title="Label : us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity to label_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_1" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_MiddleEastMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_MiddleEastMember" xml:lang="en-US" id="label_us-gaap_MiddleEastMember">Middle East [Member]</link:label>
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_MiddleEastMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_MiddleEastMember_1" xml:lang="en-US" id="label_us-gaap_MiddleEastMember_1">Middle East [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MiddleEastMember" xlink:to="label_us-gaap_MiddleEastMember_1" xlink:title="Label : us-gaap_MiddleEastMember to label_us-gaap_MiddleEastMember_1" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_MarketingExpense" xlink:label="us-gaap_MarketingExpense" xlink:title="us-gaap_MarketingExpense" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_MarketingExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_MarketingExpense" xml:lang="en-US" id="label_us-gaap_MarketingExpense">Marketing Expense</link:label>
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_MarketingExpense_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_MarketingExpense_1" xml:lang="en-US" id="label_us-gaap_MarketingExpense_1">Customer incentives cost</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_MaximumMember" xlink:label="us-gaap_MaximumMember" xlink:title="us-gaap_MaximumMember" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_MaximumMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_MaximumMember" xml:lang="en-US" id="label_us-gaap_MaximumMember">Maximum [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MaximumMember" xlink:to="label_us-gaap_MaximumMember" xlink:title="Label : us-gaap_MaximumMember to label_us-gaap_MaximumMember" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_MinimumMember" xlink:label="us-gaap_MinimumMember" xlink:title="us-gaap_MinimumMember" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_MinimumMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_MinimumMember" xml:lang="en-US" id="label_us-gaap_MinimumMember">Minimum [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinimumMember" xlink:to="label_us-gaap_MinimumMember" xlink:title="Label : us-gaap_MinimumMember to label_us-gaap_MinimumMember" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_MinorityInterestDecreaseFromRedemptions" xlink:label="us-gaap_MinorityInterestDecreaseFromRedemptions" xlink:title="us-gaap_MinorityInterestDecreaseFromRedemptions" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinorityInterestDecreaseFromRedemptions" xlink:to="label_us-gaap_MinorityInterestDecreaseFromRedemptions" xlink:title="Label : us-gaap_MinorityInterestDecreaseFromRedemptions to label_us-gaap_MinorityInterestDecreaseFromRedemptions" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_MinorityInterestDecreaseFromRedemptions_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_us-gaap_MinorityInterestDecreaseFromRedemptions_1" xml:lang="en-US" id="label_us-gaap_MinorityInterestDecreaseFromRedemptions_1">Purchase of subsidiary shares from noncontrolling interests</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinorityInterestDecreaseFromRedemptions" xlink:to="label_us-gaap_MinorityInterestDecreaseFromRedemptions_1" xlink:title="Label : us-gaap_MinorityInterestDecreaseFromRedemptions to label_us-gaap_MinorityInterestDecreaseFromRedemptions_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_MinorityInterestDisclosureTextBlock" xlink:label="us-gaap_MinorityInterestDisclosureTextBlock" xlink:title="us-gaap_MinorityInterestDisclosureTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_MinorityInterestDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_MinorityInterestDisclosureTextBlock" xml:lang="en-US" id="label_us-gaap_MinorityInterestDisclosureTextBlock">Noncontrolling Interest Disclosure [Text Block]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinorityInterestDisclosureTextBlock" xlink:to="label_us-gaap_MinorityInterestDisclosureTextBlock" xlink:title="Label : us-gaap_MinorityInterestDisclosureTextBlock to label_us-gaap_MinorityInterestDisclosureTextBlock" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_MinorityInterestDisclosureTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_MinorityInterestDisclosureTextBlock_1" xml:lang="en-US" id="label_us-gaap_MinorityInterestDisclosureTextBlock_1">Net Income Attributable to Inter Parfums, Inc. and Transfers from the Noncontrolling Interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinorityInterestDisclosureTextBlock" xlink:to="label_us-gaap_MinorityInterestDisclosureTextBlock_1" xlink:title="Label : us-gaap_MinorityInterestDisclosureTextBlock to label_us-gaap_MinorityInterestDisclosureTextBlock_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_MinorityInterestOwnershipPercentageByParent" xlink:label="us-gaap_MinorityInterestOwnershipPercentageByParent" xlink:title="us-gaap_MinorityInterestOwnershipPercentageByParent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_MinorityInterestOwnershipPercentageByParent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_MinorityInterestOwnershipPercentageByParent" xml:lang="en-US" id="label_us-gaap_MinorityInterestOwnershipPercentageByParent">Noncontrolling Interest, Ownership Percentage by Parent</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinorityInterestOwnershipPercentageByParent" xlink:to="label_us-gaap_MinorityInterestOwnershipPercentageByParent" xlink:title="Label : us-gaap_MinorityInterestOwnershipPercentageByParent to label_us-gaap_MinorityInterestOwnershipPercentageByParent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_MinorityInterestOwnershipPercentageByParent_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_MinorityInterestOwnershipPercentageByParent_1" xml:lang="en-US" id="label_us-gaap_MinorityInterestOwnershipPercentageByParent_1">Ownership percentage in Interparfums SA</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_MinorityInterest" xlink:label="us-gaap_MinorityInterest" xlink:title="us-gaap_MinorityInterest" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_MinorityInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_MinorityInterest" xml:lang="en-US" id="label_us-gaap_MinorityInterest">Stockholders' Equity Attributable to Noncontrolling Interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinorityInterest" xlink:to="label_us-gaap_MinorityInterest" xlink:title="Label : us-gaap_MinorityInterest to label_us-gaap_MinorityInterest" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_MinorityInterest_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_MinorityInterest_1" xml:lang="en-US" id="label_us-gaap_MinorityInterest_1">Noncontrolling interest</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinorityInterest" xlink:to="label_us-gaap_MinorityInterest_1" xlink:title="Label : us-gaap_MinorityInterest to label_us-gaap_MinorityInterest_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_NorthAmericaMember" xlink:label="us-gaap_NorthAmericaMember" xlink:title="us-gaap_NorthAmericaMember" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_NorthAmericaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_NorthAmericaMember" xml:lang="en-US" id="label_us-gaap_NorthAmericaMember">North America [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NorthAmericaMember" xlink:to="label_us-gaap_NorthAmericaMember" xlink:title="Label : us-gaap_NorthAmericaMember to label_us-gaap_NorthAmericaMember" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_NorthAmericaMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_NorthAmericaMember_1" xml:lang="en-US" id="label_us-gaap_NorthAmericaMember_1">North America [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NorthAmericaMember" xlink:to="label_us-gaap_NorthAmericaMember_1" xlink:title="Label : us-gaap_NorthAmericaMember to label_us-gaap_NorthAmericaMember_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations" xlink:to="label_us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations" xlink:title="Label : us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations to label_us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="label_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:title="Label : us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract to label_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_1" xml:lang="en-US" id="label_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_1">Cash flows from operating activities:</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations" xlink:title="us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations" xml:lang="en-US" id="label_us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations">Net Cash Provided by (Used in) Investing Activities, Continuing Operations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations" xlink:to="label_us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations" xlink:title="Label : us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations to label_us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:to="label_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:title="Label : us-gaap_NetIncomeLossAttributableToNoncontrollingInterest to label_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_1" xml:lang="en-US" id="label_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_1">Less: Net income attributable to the noncontrolling interest</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:label="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:title="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_1" xml:lang="en-US" id="label_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_1">Recent Accounting Pronouncements</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:to="label_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_1" xlink:title="Label : us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock to label_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_NonoperatingIncomeExpense" xlink:label="us-gaap_NonoperatingIncomeExpense" xlink:title="us-gaap_NonoperatingIncomeExpense" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_NonoperatingIncomeExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_NonoperatingIncomeExpense" xml:lang="en-US" id="label_us-gaap_NonoperatingIncomeExpense">Nonoperating Income (Expense)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NonoperatingIncomeExpense" xlink:to="label_us-gaap_NonoperatingIncomeExpense" xlink:title="Label : us-gaap_NonoperatingIncomeExpense to label_us-gaap_NonoperatingIncomeExpense" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_NonoperatingIncomeExpense_1" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:title="label_us-gaap_NonoperatingIncomeExpense_1" xml:lang="en-US" id="label_us-gaap_NonoperatingIncomeExpense_1">Other expenses (income)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NonoperatingIncomeExpense" xlink:to="label_us-gaap_NonoperatingIncomeExpense_1" xlink:title="Label : us-gaap_NonoperatingIncomeExpense to label_us-gaap_NonoperatingIncomeExpense_1" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_NonoperatingIncomeExpenseAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_NonoperatingIncomeExpenseAbstract" xml:lang="en-US" id="label_us-gaap_NonoperatingIncomeExpenseAbstract">Nonoperating Income (Expense) [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NonoperatingIncomeExpenseAbstract" xlink:to="label_us-gaap_NonoperatingIncomeExpenseAbstract" xlink:title="Label : us-gaap_NonoperatingIncomeExpenseAbstract to label_us-gaap_NonoperatingIncomeExpenseAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_NonoperatingIncomeExpenseAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_NonoperatingIncomeExpenseAbstract_1" xml:lang="en-US" id="label_us-gaap_NonoperatingIncomeExpenseAbstract_1">Other expenses (income):</link:label>
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_NoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_NoncontrollingInterestMember" xml:lang="en-US" id="label_us-gaap_NoncontrollingInterestMember">Noncontrolling interest [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NoncontrollingInterestMember" xlink:to="label_us-gaap_NoncontrollingInterestMember" xlink:title="Label : us-gaap_NoncontrollingInterestMember to label_us-gaap_NoncontrollingInterestMember" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_NoncontrollingInterestAbstract" xlink:label="us-gaap_NoncontrollingInterestAbstract" xlink:title="us-gaap_NoncontrollingInterestAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_NoncontrollingInterestAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_NoncontrollingInterestAbstract" xml:lang="en-US" id="label_us-gaap_NoncontrollingInterestAbstract">Net Income Attributable to Inter Parfums, Inc. and Transfers from the Noncontrolling Interest [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NoncontrollingInterestAbstract" xlink:to="label_us-gaap_NoncontrollingInterestAbstract" xlink:title="Label : us-gaap_NoncontrollingInterestAbstract to label_us-gaap_NoncontrollingInterestAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_NondesignatedMember" xlink:label="us-gaap_NondesignatedMember" xlink:title="us-gaap_NondesignatedMember" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_NondesignatedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_NondesignatedMember" xml:lang="en-US" id="label_us-gaap_NondesignatedMember">Not Designated as Hedging Instrument [Member]</link:label>
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_NondesignatedMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_NondesignatedMember_1" xml:lang="en-US" id="label_us-gaap_NondesignatedMember_1">Not accounted for using hedge accounting</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears" xlink:title="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears" xml:lang="en-US" id="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears">Operating Leases, Future Minimum Payments, Due in Five Years</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears" xlink:to="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears" xlink:title="Label : us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears to label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_1" xml:lang="en-US" id="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_1">2019</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears" xlink:to="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_1" xlink:title="Label : us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears to label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract" xlink:title="us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract" xml:lang="en-US" id="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract">Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract" xlink:to="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract" xlink:title="Label : us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract to label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract_1" xml:lang="en-US" id="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract_1">Minimum future annual rental payments:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract" xlink:to="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract_1" xlink:title="Label : us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract to label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OperatingExpenses" xlink:label="us-gaap_OperatingExpenses" xlink:title="us-gaap_OperatingExpenses" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_OperatingExpenses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_OperatingExpenses" xml:lang="en-US" id="label_us-gaap_OperatingExpenses">Operating Expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingExpenses" xlink:to="label_us-gaap_OperatingExpenses" xlink:title="Label : us-gaap_OperatingExpenses to label_us-gaap_OperatingExpenses" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_OperatingExpenses_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_us-gaap_OperatingExpenses_1" xml:lang="en-US" id="label_us-gaap_OperatingExpenses_1">Total operating expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingExpenses" xlink:to="label_us-gaap_OperatingExpenses_1" xlink:title="Label : us-gaap_OperatingExpenses to label_us-gaap_OperatingExpenses_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears" xlink:title="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears" xml:lang="en-US" id="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears">Operating Leases, Future Minimum Payments, Due in Four Years</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears" xlink:to="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears" xlink:title="Label : us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears to label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_1" xml:lang="en-US" id="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_1">2018</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears" xlink:to="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_1" xlink:title="Label : us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears to label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" xlink:title="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" xml:lang="en-US" id="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears">Operating Leases, Future Minimum Payments, Due in Three Years</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" xlink:to="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" xlink:title="Label : us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears to label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_1" xml:lang="en-US" id="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_1">2017</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" xlink:to="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_1" xlink:title="Label : us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears to label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OperatingLeasesRentExpenseNet" xlink:label="us-gaap_OperatingLeasesRentExpenseNet" xlink:title="us-gaap_OperatingLeasesRentExpenseNet" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_OperatingLeasesRentExpenseNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_OperatingLeasesRentExpenseNet" xml:lang="en-US" id="label_us-gaap_OperatingLeasesRentExpenseNet">Operating Leases, Rent Expense, Net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesRentExpenseNet" xlink:to="label_us-gaap_OperatingLeasesRentExpenseNet" xlink:title="Label : us-gaap_OperatingLeasesRentExpenseNet to label_us-gaap_OperatingLeasesRentExpenseNet" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_OperatingLeasesRentExpenseNet_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_OperatingLeasesRentExpenseNet_1" xml:lang="en-US" id="label_us-gaap_OperatingLeasesRentExpenseNet_1">Rent expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesRentExpenseNet" xlink:to="label_us-gaap_OperatingLeasesRentExpenseNet_1" xlink:title="Label : us-gaap_OperatingLeasesRentExpenseNet to label_us-gaap_OperatingLeasesRentExpenseNet_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xlink:title="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xml:lang="en-US" id="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears">Operating Leases, Future Minimum Payments, Due in Two Years</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xlink:to="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xlink:title="Label : us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears to label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_1" xml:lang="en-US" id="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_1">2016</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xlink:to="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_1" xlink:title="Label : us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears to label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OperatingIncomeLoss" xlink:label="us-gaap_OperatingIncomeLoss" xlink:title="us-gaap_OperatingIncomeLoss" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_OperatingIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_OperatingIncomeLoss" xml:lang="en-US" id="label_us-gaap_OperatingIncomeLoss">Operating Income (Loss)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingIncomeLoss" xlink:to="label_us-gaap_OperatingIncomeLoss" xlink:title="Label : us-gaap_OperatingIncomeLoss to label_us-gaap_OperatingIncomeLoss" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_OperatingIncomeLoss_1" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_us-gaap_OperatingIncomeLoss_1" xml:lang="en-US" id="label_us-gaap_OperatingIncomeLoss_1">Income from operations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingIncomeLoss" xlink:to="label_us-gaap_OperatingIncomeLoss_1" xlink:title="Label : us-gaap_OperatingIncomeLoss to label_us-gaap_OperatingIncomeLoss_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter" xlink:title="us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter" xml:lang="en-US" id="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter">Operating Leases, Future Minimum Payments, Due Thereafter</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter" xlink:to="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter" xlink:title="Label : us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter to label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_1" xml:lang="en-US" id="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_1">Thereafter</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter" xlink:to="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_1" xlink:title="Label : us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter to label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" xlink:title="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" xml:lang="en-US" id="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent">Operating Leases, Future Minimum Payments Due, Next Twelve Months</link:label>
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDue" xml:lang="en-US" id="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDue">Operating Leases, Future Minimum Payments Due</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDue" xlink:to="label_us-gaap_OperatingLeasesFutureMinimumPaymentsDue" xlink:title="Label : us-gaap_OperatingLeasesFutureMinimumPaymentsDue to label_us-gaap_OperatingLeasesFutureMinimumPaymentsDue" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherCommitmentDueInNextTwelveMonths" xlink:to="label_us-gaap_OtherCommitmentDueInNextTwelveMonths" xlink:title="Label : us-gaap_OtherCommitmentDueInNextTwelveMonths to label_us-gaap_OtherCommitmentDueInNextTwelveMonths" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_OtherCommitmentDueInNextTwelveMonths_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_OtherCommitmentDueInNextTwelveMonths_1" xml:lang="en-US" id="label_us-gaap_OtherCommitmentDueInNextTwelveMonths_1">2015</link:label>
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_OtherCommitmentDueInSecondYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_OtherCommitmentDueInSecondYear" xml:lang="en-US" id="label_us-gaap_OtherCommitmentDueInSecondYear">Other Commitment, Due in Second Year</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherCommitmentDueInSecondYear" xlink:to="label_us-gaap_OtherCommitmentDueInSecondYear" xlink:title="Label : us-gaap_OtherCommitmentDueInSecondYear to label_us-gaap_OtherCommitmentDueInSecondYear" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherCommitmentDueInSecondYear" xlink:to="label_us-gaap_OtherCommitmentDueInSecondYear_1" xlink:title="Label : us-gaap_OtherCommitmentDueInSecondYear to label_us-gaap_OtherCommitmentDueInSecondYear_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossNetOfTax" xlink:label="us-gaap_OtherComprehensiveIncomeLossNetOfTax" xlink:title="us-gaap_OtherComprehensiveIncomeLossNetOfTax" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax" xlink:label="us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax" xlink:title="us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherCommitmentDueInThirdYear" xlink:to="label_us-gaap_OtherCommitmentDueInThirdYear" xlink:title="Label : us-gaap_OtherCommitmentDueInThirdYear to label_us-gaap_OtherCommitmentDueInThirdYear" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest" xlink:label="us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest" xlink:title="us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent" xlink:label="us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent" xlink:title="us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_PaymentsOfDividends_1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:title="label_us-gaap_PaymentsOfDividends_1" xml:lang="en-US" id="label_us-gaap_PaymentsOfDividends_1">Dividends paid</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_PaymentsToAcquireIntangibleAssets" xlink:label="us-gaap_PaymentsToAcquireIntangibleAssets" xlink:title="us-gaap_PaymentsToAcquireIntangibleAssets" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireIntangibleAssets" xlink:to="label_us-gaap_PaymentsToAcquireIntangibleAssets" xlink:title="Label : us-gaap_PaymentsToAcquireIntangibleAssets to label_us-gaap_PaymentsToAcquireIntangibleAssets" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireIntangibleAssets" xlink:to="label_us-gaap_PaymentsToAcquireIntangibleAssets_1" xlink:title="Label : us-gaap_PaymentsToAcquireIntangibleAssets to label_us-gaap_PaymentsToAcquireIntangibleAssets_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_PaymentsToAcquireShortTermInvestments" xlink:label="us-gaap_PaymentsToAcquireShortTermInvestments" xlink:title="us-gaap_PaymentsToAcquireShortTermInvestments" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_PaymentsToAcquireShortTermInvestments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_PaymentsToAcquireShortTermInvestments" xml:lang="en-US" id="label_us-gaap_PaymentsToAcquireShortTermInvestments">Payments to Acquire Short-term Investments</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireShortTermInvestments" xlink:to="label_us-gaap_PaymentsToAcquireShortTermInvestments" xlink:title="Label : us-gaap_PaymentsToAcquireShortTermInvestments to label_us-gaap_PaymentsToAcquireShortTermInvestments" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_PaymentsToMinorityShareholders" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_PaymentsToMinorityShareholders" xml:lang="en-US" id="label_us-gaap_PaymentsToMinorityShareholders">Payments to Noncontrolling Interests</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToMinorityShareholders" xlink:to="label_us-gaap_PaymentsToMinorityShareholders_1" xlink:title="Label : us-gaap_PaymentsToMinorityShareholders to label_us-gaap_PaymentsToMinorityShareholders_1" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockParOrStatedValuePerShare" xlink:to="label_us-gaap_PreferredStockParOrStatedValuePerShare_1" xlink:title="Label : us-gaap_PreferredStockParOrStatedValuePerShare to label_us-gaap_PreferredStockParOrStatedValuePerShare_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_PreferredStockValue" xlink:label="us-gaap_PreferredStockValue" xlink:title="us-gaap_PreferredStockValue" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_PreferredStockValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_PreferredStockValue" xml:lang="en-US" id="label_us-gaap_PreferredStockValue">Preferred Stock, Value, Issued</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockValue" xlink:to="label_us-gaap_PreferredStockValue" xlink:title="Label : us-gaap_PreferredStockValue to label_us-gaap_PreferredStockValue" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_PreferredStockValue_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_PreferredStockValue_1" xml:lang="en-US" id="label_us-gaap_PreferredStockValue_1">Preferred stock, $.001 par; authorized 1,000,000 shares; none issued</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_PreferredStockSharesIssued" xlink:label="us-gaap_PreferredStockSharesIssued" xlink:title="us-gaap_PreferredStockSharesIssued" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_PreferredStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_PreferredStockSharesIssued" xml:lang="en-US" id="label_us-gaap_PreferredStockSharesIssued">Preferred Stock, Shares Issued</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockSharesIssued" xlink:to="label_us-gaap_PreferredStockSharesIssued" xlink:title="Label : us-gaap_PreferredStockSharesIssued to label_us-gaap_PreferredStockSharesIssued" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockSharesIssued" xlink:to="label_us-gaap_PreferredStockSharesIssued_1" xlink:title="Label : us-gaap_PreferredStockSharesIssued to label_us-gaap_PreferredStockSharesIssued_1" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_PreferredStockSharesAuthorized" xlink:label="us-gaap_PreferredStockSharesAuthorized" xlink:title="us-gaap_PreferredStockSharesAuthorized" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_PreferredStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_PreferredStockSharesAuthorized" xml:lang="en-US" id="label_us-gaap_PreferredStockSharesAuthorized">Preferred Stock, Shares Authorized</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockSharesAuthorized" xlink:to="label_us-gaap_PreferredStockSharesAuthorized" xlink:title="Label : us-gaap_PreferredStockSharesAuthorized to label_us-gaap_PreferredStockSharesAuthorized" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_PrepaidRoyalties" xlink:label="us-gaap_PrepaidRoyalties" xlink:title="us-gaap_PrepaidRoyalties" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:to="label_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:title="Label : us-gaap_RelatedPartyTransactionsByRelatedPartyAxis to label_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyDomain" xlink:to="label_us-gaap_RelatedPartyDomain" xlink:title="Label : us-gaap_RelatedPartyDomain to label_us-gaap_RelatedPartyDomain" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ValuationAndQualifyingAccountsDisclosureLineItems" xlink:to="label_us-gaap_ValuationAndQualifyingAccountsDisclosureLineItems" xlink:title="Label : us-gaap_ValuationAndQualifyingAccountsDisclosureLineItems to label_us-gaap_ValuationAndQualifyingAccountsDisclosureLineItems" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_VariableRateAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_VariableRateAxis" xml:lang="en-US" id="label_us-gaap_VariableRateAxis">Variable Rate [Axis]</link:label>
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_WarrantMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_WarrantMember" xml:lang="en-US" id="label_us-gaap_WarrantMember">Warrant [Member]</link:label>
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_WarrantMember_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_WarrantMember_1" xml:lang="en-US" id="label_us-gaap_WarrantMember_1">Warrants [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WarrantMember" xlink:to="label_us-gaap_WarrantMember_1" xlink:title="Label : us-gaap_WarrantMember to label_us-gaap_WarrantMember_1" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment" xml:lang="en-US" id="label_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment">Weighted Average Number Diluted Shares Outstanding Adjustment</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment" xlink:to="label_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment" xlink:title="Label : us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment to label_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment" />
    <link:label xlink:type="resource" xlink:label="label_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment_1" xml:lang="en-US" id="label_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment_1">Effect of dilutive securities: Stock options</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:title="us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" />
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    <link:label xlink:type="resource" xlink:label="label_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_1" xml:lang="en-US" id="label_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_1">Basic</link:label>
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<TYPE>EX-101.PRE
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<FILENAME>ipar-20150331_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
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  <us-gaap:ShareBasedCompensation id="Tag233" contextRef="C773175" unitRef="USD" decimals="-3">194000</us-gaap:ShareBasedCompensation>
  <us-gaap:SignificantAccountingPoliciesTextBlock id="Tag234" contextRef="C773175">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt; &lt;div class="CursorPointer"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; margin-top: 0px; margin-bottom: 0px; width: 100%;"&gt;  &lt;tr style="vertical-align: top;"&gt; &lt;td width="0px"&gt;&lt;/td&gt; &lt;td style="width: 0.5in; font-family: 'times new roman';"&gt;&lt;b&gt;1.&lt;/b&gt;&lt;/td&gt; &lt;td style="font-family: 'Times New Roman';"&gt;&lt;b&gt;&lt;font style="text-decoration: underline;"&gt;Significant Accounting Policies:&lt;/font&gt;&lt;/b&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt;&lt;/div&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0;"&gt;&amp;#160;&lt;/p&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in;"&gt;The accounting policies we follow are set forth in the notes to our financial statements included in our Form 10-K which was filed with the Securities and Exchange Commission for the year ended December 31, 2014. We also discuss such policies in Part I, Item 2, Management's Discussion and Analysis of Financial Condition and Results of Operations, included in this Form 10-Q.&lt;/p&gt;   &lt;/div&gt;</us-gaap:SignificantAccountingPoliciesTextBlock>
  <us-gaap:InvestmentsFairValueDisclosure id="Tag235" contextRef="C774090" unitRef="USD" xsi:nil="true" />
  <us-gaap:NewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock id="Tag236" contextRef="C773175">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt; &lt;div class="CursorPointer"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; margin-top: 0px; margin-bottom: 0px; width: 100%;"&gt;  &lt;tr style="vertical-align: top;"&gt; &lt;td width="0px"&gt;&lt;/td&gt; &lt;td style="width: 0.5in; font-family: 'times new roman';"&gt;&lt;b&gt;2.&lt;/b&gt;&lt;/td&gt; &lt;td style="font-family: 'Times New Roman';"&gt;&lt;b&gt;&lt;font style="text-decoration: underline;"&gt;Recent Accounting Pronouncements:&lt;/font&gt;&lt;/b&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt;&lt;/div&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0;"&gt;&amp;#160;&lt;/p&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify;"&gt;In May 2014, the Financial Accounting Standards Board (&amp;#147;FASB&amp;#148;) issued an Accounting Standards Update which supersedes the most current revenue recognition requirements. The new revenue recognition standard requires entities to recognize revenue in a way that depicts the transfer of goods or services to customers in an amount that reflects the consideration which the entity expects to be entitled to in exchange for those goods or services. This guidance is effective for annual and interim reporting periods beginning after December 15, 2016, with early adoption not permitted. We are currently evaluating the standard to determine the impact of its adoption on our consolidated financial statements.&lt;/p&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in;"&gt;&amp;#160;&lt;/p&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in;"&gt;There are no other recent accounting pronouncements issued but not yet adopted that would have a material effect on our consolidated financial statements.&lt;/p&gt;  &lt;/div&gt;</us-gaap:NewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock>
  <us-gaap:BusinessCombinationConsiderationTransferred1 id="Tag237" contextRef="C774087" unitRef="USD" decimals="-6">108000000</us-gaap:BusinessCombinationConsiderationTransferred1>
  <ipar:LicenseAgreementTerm id="Tag238" contextRef="C783913">P11Y</ipar:LicenseAgreementTerm>
  <ipar:NewAgreementsTextBlock id="Tag239" contextRef="C773175">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt; &lt;div class="CursorPointer"&gt;&lt;table style="font: 10pt times new roman, times, serif; margin-top: 0; margin-bottom: 0;" cellpadding="0" cellspacing="0"&gt;  &lt;tr style="vertical-align: top; text-align: justify;"&gt; &lt;td style="width: 0in;"&gt;&lt;/td&gt; &lt;td style="width: 0.5in; text-align: left; font-family: 'times new roman';"&gt;&lt;b&gt;3.&lt;/b&gt;&lt;/td&gt; &lt;td style="text-align: justify; font-family: 'times new roman';"&gt;&lt;b&gt;&lt;font style="text-decoration: underline;"&gt;New Agreements:&lt;/font&gt;&lt;/b&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt;&lt;/div&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/p&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in;"&gt;In March 2015, the Company, through its majority owned Paris-based subsidiary, Interparfums SA, entered into an agreement with The Procter &amp;amp; Gamble Company to acquire the Rochas brand. This transaction will cover all brand names and registered trademarks for Rochas (&lt;i&gt;Femme, Madame, Eau de Rochas&lt;/i&gt;, etc.), mainly for class 3 (cosmetics) and class 25 (fashion). The cost of the acquisition of $&lt;font&gt;108&lt;/font&gt; million is payable in cash on the closing date and is expected to be financed entirely through a medium term loan. This transaction is expected to be completed within the first half of 2015, subject to customary closing conditions.&lt;/p&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in;"&gt;&amp;#160;&lt;/p&gt; &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in;"&gt;In April 2015, the Company, through its majority owned Paris-based subsidiary, Interparfums SA, entered into an &lt;font&gt;11&lt;/font&gt;-year exclusive worldwide license with Coach, Inc. to create, produce and distribute new perfumes and fragrance related products, including new men's and women's scents under the Coach brand name. Interparfums SA will distribute these fragrances globally to department stores, specialty stores and duty free shops, as well as in Coach retail stores beginning in 2016. The agreement is subject to certain minimum sales, advertising expenditures and royalty payments as are customary in our industry.&lt;/p&gt;  &lt;/div&gt;</ipar:NewAgreementsTextBlock>
  <us-gaap:InventoryRawMaterials id="Tag240" contextRef="C773180" unitRef="USD" decimals="-3">31282000</us-gaap:InventoryRawMaterials>
  <us-gaap:InventoryRawMaterials id="Tag241" contextRef="C773178" unitRef="USD" decimals="-3">36383000</us-gaap:InventoryRawMaterials>
  <us-gaap:InventoryFinishedGoods id="Tag242" contextRef="C773180" unitRef="USD" decimals="-3">73272000</us-gaap:InventoryFinishedGoods>
  <us-gaap:InventoryFinishedGoods id="Tag243" contextRef="C773178" unitRef="USD" decimals="-3">65943000</us-gaap:InventoryFinishedGoods>
  <us-gaap:InvestmentsFairValueDisclosure id="Tag244" contextRef="C774091" unitRef="USD" decimals="-3">190152000</us-gaap:InvestmentsFairValueDisclosure>
  <us-gaap:InventoryDisclosureTextBlock id="Tag245" contextRef="C773175">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;div class="CursorPointer"&gt;
&lt;table style="font: 10pt times new roman, times, serif; margin-top: 0; margin-bottom: 0;" cellpadding="0" cellspacing="0"&gt;

&lt;tr style="vertical-align: top; text-align: justify;"&gt;
&lt;td style="width: 0in;"&gt;&lt;/td&gt;
&lt;td style="width: 0.5in; text-align: left; font-family: 'times new roman';"&gt;&lt;font style="font-variant: small-caps;"&gt;&lt;b&gt;4.&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: justify; font-family: 'times new roman';"&gt;&lt;b&gt;&lt;font style="text-decoration: underline;"&gt;Inventories:&lt;/font&gt;&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify;"&gt;&lt;font style="font-variant: small-caps;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in;"&gt;Inventories consist of the following:&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;
&lt;div&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 88%;margin-left: 0.5in;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: justify; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"&gt;(In thousands)&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2" nowrap="nowrap"&gt;March 31,&lt;br/&gt; 2015&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;" nowrap="nowrap" colspan="2"&gt;December 31,&lt;br/&gt; 2014&lt;/td&gt;
&lt;td style="text-align: center; padding: 0px; width: 20px;" nowrap="nowrap" colspan="4"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 70%;"&gt;Raw materials and component parts&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; width: 1%;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"&gt;&lt;font&gt;31,282&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"&gt;&lt;font&gt;36,383&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;Finished goods&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;73,272&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;65,943&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;104,554&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;102,326&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;

&lt;/div&gt;</us-gaap:InventoryDisclosureTextBlock>
  <us-gaap:ScheduleOfInventoryCurrentTableTextBlock id="Tag246" contextRef="C773175">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 88%;margin-left: 0.5in;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: justify; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"&gt;(In thousands)&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2" nowrap="nowrap"&gt;March 31,&lt;br/&gt; 2015&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;" nowrap="nowrap" colspan="2"&gt;December 31,&lt;br/&gt; 2014&lt;/td&gt;
&lt;td style="text-align: center; padding: 0px; width: 20px;" nowrap="nowrap" colspan="4"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 70%;"&gt;Raw materials and component parts&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; width: 1%;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"&gt;&lt;font&gt;31,282&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"&gt;&lt;font&gt;36,383&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;Finished goods&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;73,272&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;65,943&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;104,554&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;102,326&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
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  <us-gaap:InvestmentsFairValueDisclosure id="Tag247" contextRef="C773516" unitRef="USD" decimals="-3">155938000</us-gaap:InvestmentsFairValueDisclosure>
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  <us-gaap:ForeignCurrencyContractsLiabilityFairValueDisclosure id="Tag251" contextRef="C773520" unitRef="USD" decimals="-3">981000</us-gaap:ForeignCurrencyContractsLiabilityFairValueDisclosure>
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  <us-gaap:ForeignCurrencyContractsLiabilityFairValueDisclosure id="Tag255" contextRef="C773524" unitRef="USD" decimals="-3">1241000</us-gaap:ForeignCurrencyContractsLiabilityFairValueDisclosure>
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  <us-gaap:ForeignCurrencyContractsLiabilityFairValueDisclosure id="Tag257" contextRef="C773526" unitRef="USD" decimals="-3">1241000</us-gaap:ForeignCurrencyContractsLiabilityFairValueDisclosure>
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&lt;div class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; margin-top: 0px; margin-bottom: 0px; width: 100%;"&gt;

&lt;tr style="vertical-align: top;"&gt;
&lt;td width="0px"&gt;&lt;/td&gt;
&lt;td style="width: 0.5in; font-family: 'times new roman';"&gt;&lt;b&gt;5.&lt;/b&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;b&gt;&lt;font style="text-decoration: underline;"&gt;Fair Value Measurement:&lt;/font&gt;&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left;"&gt;The following tables present our financial assets and liabilities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy. The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value.&lt;/p&gt;
&lt;div&gt;
&lt;div style="display: block;"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left;"&gt;&amp;#160;&lt;/p&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 92%; margin-left: 0.5in;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;(In thousands)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" colspan="2" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" colspan="10"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;Fair Value Measurements at March 31, 2015&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px; width: 20px;" colspan="5"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" colspan="2" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;Quoted Prices in&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;Significant Other&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;Significant&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" colspan="2" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;Active Markets for&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;Observable&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;Unobservable&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" colspan="2" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;Identical Assets&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;Inputs&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;Inputs&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;Total&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;(Level 1)&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;(Level 2)&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;(Level 3)&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-indent: 0px; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Assets:&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
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&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;1,241&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;2,222&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;2,222&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 92%; margin-left: 0.5in;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" colspan="2" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" colspan="10"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;Fair Value Measurements at December 31, 2014&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px; width: 20px;" colspan="5"&gt;&amp;#160;&amp;#160;&amp;#160;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" colspan="2" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;Quoted Prices in&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;Significant Other&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;Significant&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" colspan="2" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;Active Markets for&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;Observable&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;Unobservable&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" colspan="2" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;Identical Assets&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;Inputs&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;Inputs&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;Total&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;(Level 1)&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;(Level 2)&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;(Level 3)&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-indent: 0px; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Assets:&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-indent: 0.1in; font-family: 'times new roman'; padding: 0px; width: 44%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Short-term investments&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 11%; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;190,152&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 11%; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 11%; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;190,152&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 11%; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
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&lt;td style="vertical-align: top; text-align: left; white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-indent: 0px; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Liabilities:&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
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&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
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&lt;td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; text-indent: -10pt; font-family: 'times new roman'; padding: 0px; padding-left: 20pt;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Foreign&amp;#160;currency&amp;#160;forward&amp;#160;exchange&amp;#160;contracts&amp;#160;not&amp;#160;accounted&amp;#160;for&amp;#160;using&amp;#160;hedge &lt;br/&gt;accounting&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
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&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;355&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left;"&gt;&lt;br/&gt;&lt;/p&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left;"&gt;The carrying amount of cash and cash equivalents including money market funds, short-term investments, accounts receivable, other receivables, accounts payable and accrued expenses approximates fair value due to the short terms to maturity of these instruments. The carrying amount of loans payable approximates fair value as the interest rates on the Company's indebtedness approximate current market rates.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left;"&gt;Foreign currency forward exchange contracts are valued based on quotations from financial institutions.&lt;/p&gt;
&lt;/div&gt;</us-gaap:FairValueDisclosuresTextBlock>
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares id="Tag270" contextRef="C773178" unitRef="Shares" decimals="INF">385505</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares>
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue id="Tag271" contextRef="C773178" unitRef="USDPerShare" decimals="2">7.14</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross id="Tag272" contextRef="C773175" unitRef="Shares" decimals="INF">14000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue id="Tag273" contextRef="C773175" unitRef="USDPerShare" decimals="2">6.73</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
  <ipar:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonvestedOptionsVestedOrForfeitedInPeriod id="Tag274" contextRef="C773175" unitRef="Shares" decimals="INF">7085</ipar:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonvestedOptionsVestedOrForfeitedInPeriod>
  <ipar:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedOrForfeitedInPeriodWeightedAverageGrantDateFairValue id="Tag275" contextRef="C773175" unitRef="USDPerShare" decimals="2">6.39</ipar:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedOrForfeitedInPeriodWeightedAverageGrantDateFairValue>
  <us-gaap:FairValueAssetsMeasuredOnRecurringBasisTextBlock id="Tag276" contextRef="C773175">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;div style="display: block;"&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left;"&gt;&amp;#160;&lt;/p&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 92%; margin-left: 0.5in;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;(In thousands)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" colspan="2" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" colspan="10"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;Fair Value Measurements at March 31, 2015&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px; width: 20px;" colspan="5"&gt;&lt;br/&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" colspan="2" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;Quoted Prices in&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;Significant Other&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;Significant&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" colspan="2" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;Active Markets for&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;Observable&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;Unobservable&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" colspan="2" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;Identical Assets&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;Inputs&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;Inputs&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;Total&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;(Level 1)&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;(Level 2)&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;(Level 3)&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-indent: 0px; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Assets:&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
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&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
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&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;2,222&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;2,222&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 92%; margin-left: 0.5in;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" colspan="2" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" colspan="10"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;Fair Value Measurements at December 31, 2014&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px; width: 20px;" colspan="5"&gt;&amp;#160;&amp;#160;&amp;#160;&lt;strong&gt; &lt;/strong&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" colspan="2" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;Quoted Prices in&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;Significant Other&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;Significant&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" colspan="2" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;Active Markets for&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;Observable&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;Unobservable&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" colspan="2" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;Identical Assets&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;Inputs&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;Inputs&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;Total&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;(Level 1)&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;(Level 2)&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;(Level 3)&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;strong&gt;&amp;#160;&lt;/strong&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-indent: 0px; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Assets:&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
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&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
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&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
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&lt;/tr&gt;

&lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left;"&gt;&lt;br/&gt;&lt;/p&gt;
&lt;/div&gt;
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&lt;td style="width: 0.5in; font-family: 'times new roman';"&gt;&lt;b&gt;6.&lt;/b&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;b&gt;&lt;font style="text-decoration: underline;"&gt;Derivative Financial Instruments:&lt;/font&gt;&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;

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&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in;"&gt;The Company enters into foreign currency forward exchange contracts to hedge exposure related to receivables denominated in a foreign currency and occasionally to manage risks related to future transactions expected to be denominated in a foreign currency.&amp;#160;In connection with the Rochas acquisition, the purchase price of $&lt;font&gt;108&lt;/font&gt; million is payable in cash on the closing date and is expected to be financed entirely through a medium term loan. As the payment at closing is due in dollars and we plan to finance it with debt in euro, the Company entered into foreign currency exchange contracts to secure the exchange rate for the $&lt;font&gt;108&lt;/font&gt; million purchase price at $&lt;font&gt;1.067&lt;/font&gt; per 1 euro. This derivative has been designated and qualifies as a cash flow hedge. The Company did not have any other cash flow hedges during the three months ended March 31, 2015 and 2014. Gains and losses in derivatives not designated as hedges are included in (loss) gain on foreign currency on the accompanying income statement and were immaterial for the three months ended March 31, 2015 and 2014.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in;"&gt;All derivative instruments are reported as either assets or liabilities on the balance sheet measured at fair value. The valuation of all foreign currency forward exchange contracts as of March 31, 2015 and December 31, 2014 resulted in a liability that is included in accrued expenses on the accompanying balance sheets. Generally, increases or decreases in the fair value of derivative instruments will be recognized as gains or losses in earnings in the period of change. If the derivative instrument is designated and qualifies as a cash flow hedge, the change in fair value of the derivative instrument is recorded as a separate component of shareholders' equity.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in;"&gt;At March 31, 2015, we had foreign currency contracts in the form of forward exchange contracts in the amount of approximately U.S. $&lt;font&gt;126.7&lt;/font&gt;&amp;#160;million, GB pounds &amp;#163;&lt;font&gt;2.2&lt;/font&gt;&amp;#160;million and JPY &amp;#165;&lt;font&gt;220.7&lt;/font&gt; million which all have maturities of less than &lt;font&gt;one&lt;/font&gt; year.&lt;/p&gt;
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  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant id="Tag307" contextRef="C773180" unitRef="Shares" decimals="INF">316705</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant>
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  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue id="Tag310" contextRef="C773180" unitRef="USD" decimals="-5">6400000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue>
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&lt;tr style="vertical-align: top; text-align: justify;"&gt;
&lt;td style="width: 0in;"&gt;&lt;/td&gt;
&lt;td style="width: 0.5in; text-align: left; font-family: 'times new roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;b&gt;7.&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: justify; font-family: 'times new roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;b&gt;&lt;font style="text-decoration: underline;"&gt;Share-Based Payments:&lt;/font&gt;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
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&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;The Company maintains a stock option program for key employees, executives and directors. The plans, all of which have been approved by shareholder vote, provide for the granting of both nonqualified and incentive options. Options granted under the plans typically have a &lt;font&gt;six&lt;/font&gt;-year term and vest over a &lt;font&gt;four&lt;/font&gt; to &lt;font&gt;five&lt;/font&gt;-year period. The fair value of shares vested during both the three months ended March 31, 2015 and 2014 aggregated $&lt;font&gt;0.03&lt;/font&gt; million. Compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. It is generally our policy to issue new shares upon exercise of stock options.&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;The following table sets forth information with respect to nonvested options for the three month period ended March 31, 2015:&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
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&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
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&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; background-color: #ffffff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; background-color: #ffffff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; text-align: center; background-color: #ffffff;" colspan="2"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;Weighted&amp;#160;Average&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #ffffff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; text-align: right; background-color: rgb(255, 255, 255);border-bottom-width: 1pt !important;border-bottom-style: solid !important;border-bottom-color: rgb(0, 0, 0) !important;" colspan="2"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;Number&amp;#160;of&amp;#160;Shares&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; background-color: #ffffff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; background-color: #ffffff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; text-align: center; background-color: #ffffff;" colspan="2"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;Grant&amp;#160;Date&amp;#160;Fair&amp;#160;Value&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #ffffff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 70%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Nonvested&amp;#160;options&amp;#160;&amp;#150;&amp;#160;beginning&amp;#160;of&amp;#160;period&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; width: 1%;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;385,505&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;7.14&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Nonvested options granted&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;14,000&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;6.73&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Nonvested options vested or forfeited&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;(7,085&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;6.39&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Nonvested options &amp;#150; end of period&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;392,420&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;7.14&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Share-based payment expense decreased income before income taxes by $&lt;font&gt;0.19&lt;/font&gt; million and $&lt;font&gt;0.23&lt;/font&gt; million for the three months ended March 31, 2015 and 2014, respectively, and decreased net income attributable to Inter Parfums, Inc. by $&lt;font&gt;0.12&lt;/font&gt; million and $&lt;font&gt;0.11&lt;/font&gt; million for the three months ended March 31, 2015 and 2014, respectively.&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;The following table summarizes stock option information as of March 31, 2015:&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;div&gt;
&lt;div style="display: block;"&gt;
&lt;div style="margin-left: 0.5in;"&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 88%; margin-left: 0.1px;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"&gt;&lt;font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: center;" colspan="2"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;Weighted&amp;#160;Average&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: center; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="2"&gt;&lt;font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;Shares&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: center; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="2"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;Exercise&amp;#160;Price&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; width: 70%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Outstanding at January 1, 2015&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; width: 1%;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;639,495&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;23.19&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"&gt;&lt;font&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Options granted&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;14,000&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;25.67&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Options cancelled&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;(2,170&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;25.49&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Options exercised&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;(4,808&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;17.14&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Outstanding at March 31, 2015&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;646,517&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;23.28&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Options exercisable&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;254,097&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;18.50&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Options&amp;#160;available&amp;#160;for&amp;#160;future&amp;#160;grants&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;316,705&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; text-align: left; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; text-align: right; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; text-align: right; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;As of March 31, 2015, the weighted average remaining contractual life of options outstanding is &lt;font&gt;3.69&lt;/font&gt; years (&lt;font&gt;2.39&lt;/font&gt; years for options exercisable), the aggregate intrinsic value of options outstanding and options exercisable is $&lt;font&gt;6.4&lt;/font&gt; million and $&lt;font&gt;3.7&lt;/font&gt; million, respectively, and unrecognized compensation cost related to stock options outstanding of Inter Parfums, Inc. aggregated $&lt;font&gt;2.5&lt;/font&gt; million.&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Cash proceeds, tax benefits and intrinsic value related to stock options exercised during the three months ended March 31, 2015 and March 31, 2014 were as follows:&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;div&gt;
&lt;div style="display: block;"&gt;
&lt;div style="margin-left: 0.5in;"&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 88%; margin-left: 0.1px;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: center;" colspan="2"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;March 31,&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; font-family: 'Times New Roman'; text-align: center; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; font-family: 'Times New Roman'; text-align: center; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: center;" colspan="3"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;March 31,&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"&gt;(In thousands)&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: center; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="2"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;2015&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; font-family: 'Times New Roman'; text-align: center; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; font-family: 'Times New Roman'; text-align: center; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: center; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="3"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;2014&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="3"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 70%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Cash&amp;#160;proceeds&amp;#160;from&amp;#160;stock&amp;#160;options&amp;#160;exercised&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; width: 1%;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;82&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; text-align: right; width: 12%;" colspan="2"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;695&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Tax benefits&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;0&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; text-align: right;" colspan="2"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;0&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Intrinsic value of stock options exercised&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;66&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; text-align: right;" colspan="2"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;1,455&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;The weighted average fair values of the options granted by Inter Parfums, Inc. during the three months ended March 31, 2015 and 2014 were $&lt;font&gt;6.73&lt;/font&gt; and $&lt;font&gt;8.37&lt;/font&gt; per share, respectively, on the date of grant using the Black-Scholes option pricing model to calculate the fair value of options granted. The assumptions used in the Black-Scholes pricing model for the periods ended March 31, 2015 and 2014 are set forth in the following table:&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;div&gt;
&lt;div style="display: block;"&gt;
&lt;div style="margin-left: 0.5in;"&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 88%; margin-left: 0.1px;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: center;" colspan="2"&gt;&lt;font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;March 31,&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; font-family: 'Times New Roman'; text-align: center; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; font-family: 'Times New Roman'; text-align: center; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: center;" colspan="2"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;March 31,&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: center; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="2"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;2015&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; font-family: 'Times New Roman'; text-align: center; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; font-family: 'Times New Roman'; text-align: center; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding: 0px; vertical-align: top; text-align: center; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="2"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;2014&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; width: 70%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Weighted&amp;#160;average&amp;#160;expected&amp;#160;stock-price&amp;#160;volatility&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; width: 1%;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;34&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;37&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Weighted average expected option life&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;5&lt;/font&gt; years&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'Times New Roman', Times, serif; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;5&lt;/font&gt; years&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Weighted average risk-free interest rate&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;1.28&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;1.55&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Weighted average dividend yield&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;1.8&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;2.8&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Expected volatility is estimated based on historic volatility of the Company's common stock. The expected term of the option is estimated based on historic data. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of the grant of the option and the dividend yield reflects the assumption that the dividend payout as authorized by the Board of Directors would increase as the earnings of the Company and its stock price continue to increase.&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;</us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock>
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1 id="Tag329" contextRef="C773176" unitRef="USD" decimals="-4">30000</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1>
  <us-gaap:ScheduleOfNonvestedShareActivityTableTextBlock id="Tag330" contextRef="C773175">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;div style="display: block;"&gt;
&lt;div style="display: block;"&gt;
&lt;div style="margin-left: 0.6in;" class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 85%; margin-left: 0.1px;"&gt;

&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #ffffff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; background-color: #ffffff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; background-color: #ffffff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; text-align: center; background-color: #ffffff;" colspan="2"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;Weighted&amp;#160;Average&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #ffffff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; text-align: right; background-color: rgb(255, 255, 255);border-bottom-width: 1pt !important;border-bottom-style: solid !important;border-bottom-color: rgb(0, 0, 0) !important;" colspan="2"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;Number&amp;#160;of&amp;#160;Shares&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; background-color: #ffffff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; background-color: #ffffff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; text-align: center; background-color: #ffffff;" colspan="2"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;Grant&amp;#160;Date&amp;#160;Fair&amp;#160;Value&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #ffffff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 70%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Nonvested&amp;#160;options&amp;#160;&amp;#150;&amp;#160;beginning&amp;#160;of&amp;#160;period&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; width: 1%;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;385,505&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;7.14&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Nonvested options granted&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;14,000&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;6.73&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Nonvested options vested or forfeited&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;(7,085&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;6.39&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Nonvested options &amp;#150; end of period&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;392,420&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;7.14&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;</us-gaap:ScheduleOfNonvestedShareActivityTableTextBlock>
  <us-gaap:Assets id="Tag331" contextRef="C773485" unitRef="USD" decimals="-3">71014000</us-gaap:Assets>
  <us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock id="Tag332" contextRef="C773175">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;div style="display: block;"&gt;
&lt;div style="margin-left: 0.5in;"&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 88%; margin-left: 0.1px;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"&gt;&lt;font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: center;" colspan="2"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;Weighted&amp;#160;Average&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: center; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="2"&gt;&lt;font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;Shares&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: center; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="2"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;Exercise&amp;#160;Price&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; width: 70%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Outstanding at January 1, 2015&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; width: 1%;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;639,495&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;23.19&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"&gt;&lt;font&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Options granted&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;14,000&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;25.67&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Options cancelled&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;(2,170&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;25.49&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Options exercised&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;(4,808&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;17.14&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Outstanding at March 31, 2015&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;646,517&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;23.28&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Options exercisable&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;254,097&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;18.50&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Options&amp;#160;available&amp;#160;for&amp;#160;future&amp;#160;grants&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;316,705&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; text-align: left; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; text-align: right; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; text-align: right; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;</us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock>
  <us-gaap:ScheduleOfCashProceedsReceivedFromShareBasedPaymentAwardsTableTextBlock id="Tag333" contextRef="C773175">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;div style="display: block;"&gt;
&lt;div style="margin-left: 0.5in;"&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 88%; margin-left: 0.1px;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: center;" colspan="2"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;March 31,&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; font-family: 'Times New Roman'; text-align: center; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; font-family: 'Times New Roman'; text-align: center; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: center;" colspan="3"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;March 31,&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"&gt;(In thousands)&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: center; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="2"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;2015&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; font-family: 'Times New Roman'; text-align: center; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; font-family: 'Times New Roman'; text-align: center; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: center; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="3"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;2014&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="3"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 70%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Cash&amp;#160;proceeds&amp;#160;from&amp;#160;stock&amp;#160;options&amp;#160;exercised&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; width: 1%;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;82&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; text-align: right; width: 12%;" colspan="2"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;695&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Tax benefits&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;0&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; text-align: right;" colspan="2"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;0&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Intrinsic value of stock options exercised&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;66&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; text-align: right;" colspan="2"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;1,455&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;</us-gaap:ScheduleOfCashProceedsReceivedFromShareBasedPaymentAwardsTableTextBlock>
  <us-gaap:ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock id="Tag334" contextRef="C773175">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;div style="display: block;"&gt;
&lt;div style="margin-left: 0.5in;"&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 88%; margin-left: 0.1px;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: center;" colspan="2"&gt;&lt;font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;March 31,&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; font-family: 'Times New Roman'; text-align: center; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; font-family: 'Times New Roman'; text-align: center; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: center;" colspan="2"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;March 31,&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: center; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="2"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;2015&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; font-family: 'Times New Roman'; text-align: center; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; font-family: 'Times New Roman'; text-align: center; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding: 0px; vertical-align: top; text-align: center; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="2"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;2014&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; width: 70%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Weighted&amp;#160;average&amp;#160;expected&amp;#160;stock-price&amp;#160;volatility&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; width: 1%;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;34&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;37&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Weighted average expected option life&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;5&lt;/font&gt; years&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'Times New Roman', Times, serif; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font&gt;5&lt;/font&gt; years&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Weighted average risk-free interest rate&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;1.28&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;1.55&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Weighted average dividend yield&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;1.8&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;2.8&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;</us-gaap:ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock>
  <us-gaap:WeightedAverageNumberDilutedSharesOutstandingAdjustment id="Tag335" contextRef="C773175" unitRef="Shares" decimals="-3">93000</us-gaap:WeightedAverageNumberDilutedSharesOutstandingAdjustment>
  <us-gaap:WeightedAverageNumberDilutedSharesOutstandingAdjustment id="Tag336" contextRef="C773176" unitRef="Shares" decimals="-3">158000</us-gaap:WeightedAverageNumberDilutedSharesOutstandingAdjustment>
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount id="Tag337" contextRef="C773496" unitRef="Shares" decimals="-4">270000</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount id="Tag338" contextRef="C773497" unitRef="Shares" decimals="-4">130000</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <us-gaap:EarningsPerShareTextBlock id="Tag339" contextRef="C773175">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; margin-top: 0px; margin-bottom: 0px; width: 100%;"&gt;

&lt;tr style="vertical-align: top;"&gt;
&lt;td width="0px"&gt;&lt;/td&gt;
&lt;td style="width: 0.5in; font-family: 'times new roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;b&gt;8.&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;b&gt;&lt;font style="text-decoration: underline;"&gt;Net Income Attributable to Inter Parfums, Inc. Common Shareholders:&lt;/font&gt;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Net income attributable to Inter Parfums, Inc. per common share (&amp;#147;basic EPS&amp;#148;) is computed by dividing net earnings attributable to Inter Parfums, Inc. by the weighted average number of shares outstanding.&amp;#160;Net earnings attributable to Inter Parfums, Inc. per share assuming dilution (&amp;#147;diluted EPS&amp;#148;), is computed using the weighted average number of shares outstanding, plus the incremental shares outstanding assuming the exercise of dilutive stock options using the treasury stock method.&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;The reconciliation between the numerators and denominators of the basic and diluted EPS computations is as follows:&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;div&gt;
&lt;div style="margin-left: 0.5in;"&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 88%; margin-left: 0.1px;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;(In thousands, except per share data)&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="6" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;March 31,&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-indent: 0px; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px; background-color: #ffffff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; text-align: center; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; background-color: #ffffff;" colspan="2"&gt;&lt;strong&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;2015&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff;"&gt;&lt;strong&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; text-align: center; padding: 0px; background-color: #ffffff;"&gt;&lt;strong&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; text-align: center; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; background-color: #ffffff;" colspan="2"&gt;&lt;strong&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;2014&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-indent: 0px; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Numerator:&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-align: left; text-indent: 10px; font-family: 'times new roman'; padding: 0px; width: 70%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Net income attributable to Inter Parfums, Inc.&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; width: 1%;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0) !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0) !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; width: 12%;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;10,007&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0) !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0) !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; width: 12%;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;8,894&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-indent: 0px; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Denominator:&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-indent: 10px; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Weighted average shares&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;30,979&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;30,900&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; text-indent: 10px; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Effect of dilutive securities:&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-align: left; text-indent: 30px; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Stock options&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;93&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;158&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; text-indent: 50px; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Denominator for diluted earnings per share&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;31,072&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;31,058&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; text-indent: 0px; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-indent: 0px; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Earnings per share:&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-align: left; text-indent: 10px; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Net&amp;#160;income&amp;#160;attributable&amp;#160;to&amp;#160;Inter&amp;#160;Parfums,&amp;#160;Inc.&amp;#160;common&amp;#160;shareholders:&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-indent: 50px; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Basic&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;0.32&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;0.29&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-indent: 50px; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Diluted&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;0.32&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;0.29&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Not included in the above computations is the effect of antidilutive potential common shares which consist of outstanding options to purchase &lt;font&gt;0.27&lt;/font&gt; million and &lt;font&gt;0.13&lt;/font&gt; million shares of common stock for the three months ended March 31, 2015 and 2014, respectively.&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;</us-gaap:EarningsPerShareTextBlock>
  <us-gaap:Assets id="Tag340" contextRef="C773486" unitRef="USD" decimals="-3">497294000</us-gaap:Assets>
  <us-gaap:Assets id="Tag341" contextRef="C773487" unitRef="USD" decimals="-3">589481000</us-gaap:Assets>
  <us-gaap:Assets id="Tag342" contextRef="C773488" unitRef="USD" decimals="-3">-9179000</us-gaap:Assets>
  <us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock id="Tag343" contextRef="C773175">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;div style="margin-left: 0.5in;"&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 88%; margin-left: 0.1px;"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;(In thousands, except per share data)&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td colspan="6" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt;March 31,&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;strong&gt; &lt;/strong&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-indent: 0px; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px; background-color: #ffffff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; text-align: center; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; background-color: #ffffff;" colspan="2"&gt;&lt;strong&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;2015&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff;"&gt;&lt;strong&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; text-align: center; padding: 0px; background-color: #ffffff;"&gt;&lt;strong&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; text-align: center; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; background-color: #ffffff;" colspan="2"&gt;&lt;strong&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;2014&lt;/font&gt;&lt;/strong&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-indent: 0px; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Numerator:&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-align: left; text-indent: 10px; font-family: 'times new roman'; padding: 0px; width: 70%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Net income attributable to Inter Parfums, Inc.&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; width: 1%;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0) !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0) !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; width: 12%;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;10,007&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0) !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0) !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; width: 12%;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;8,894&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-indent: 0px; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Denominator:&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-indent: 10px; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Weighted average shares&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;30,979&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;30,900&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; text-indent: 10px; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Effect of dilutive securities:&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-align: left; text-indent: 30px; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Stock options&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;93&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;158&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; text-indent: 50px; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Denominator for diluted earnings per share&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;31,072&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;31,058&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; text-indent: 0px; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="vertical-align: top; text-align: left; white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-indent: 0px; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Earnings per share:&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-align: left; text-indent: 10px; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Net&amp;#160;income&amp;#160;attributable&amp;#160;to&amp;#160;Inter&amp;#160;Parfums,&amp;#160;Inc.&amp;#160;common&amp;#160;shareholders:&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-indent: 50px; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Basic&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;0.32&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;0.29&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-indent: 50px; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Diluted&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;0.32&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;0.29&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;</us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock>
  <us-gaap:SalesRevenueNet id="Tag344" contextRef="C773476" unitRef="USD" decimals="-3">22479000</us-gaap:SalesRevenueNet>
  <us-gaap:SalesRevenueNet id="Tag345" contextRef="C773477" unitRef="USD" decimals="-3">19392000</us-gaap:SalesRevenueNet>
  <us-gaap:SalesRevenueNet id="Tag346" contextRef="C773478" unitRef="USD" decimals="-3">86787000</us-gaap:SalesRevenueNet>
  <us-gaap:SalesRevenueNet id="Tag347" contextRef="C773479" unitRef="USD" decimals="-3">102376000</us-gaap:SalesRevenueNet>
  <us-gaap:SalesRevenueNet id="Tag348" contextRef="C773480" unitRef="USD" decimals="-3">-17000</us-gaap:SalesRevenueNet>
  <us-gaap:SalesRevenueNet id="Tag349" contextRef="C773481" unitRef="USD" decimals="-3">-38000</us-gaap:SalesRevenueNet>
  <us-gaap:NetIncomeLoss id="Tag350" contextRef="C773476" unitRef="USD" decimals="-3">1109000</us-gaap:NetIncomeLoss>
  <us-gaap:NetIncomeLoss id="Tag351" contextRef="C773477" unitRef="USD" decimals="-3">-67000</us-gaap:NetIncomeLoss>
  <us-gaap:NetIncomeLoss id="Tag352" contextRef="C773478" unitRef="USD" decimals="-3">8898000</us-gaap:NetIncomeLoss>
  <us-gaap:NetIncomeLoss id="Tag353" contextRef="C773479" unitRef="USD" decimals="-3">8961000</us-gaap:NetIncomeLoss>
  <us-gaap:NetIncomeLoss id="Tag354" contextRef="C773480" unitRef="USD" xsi:nil="true" />
  <us-gaap:NetIncomeLoss id="Tag355" contextRef="C773481" unitRef="USD" xsi:nil="true" />
  <us-gaap:Assets id="Tag356" contextRef="C773484" unitRef="USD" decimals="-3">75648000</us-gaap:Assets>
  <us-gaap:Assets id="Tag357" contextRef="C773489" unitRef="USD" decimals="-3">-9217000</us-gaap:Assets>
  <us-gaap:Assets id="Tag358" contextRef="C773181" unitRef="USD" decimals="-3">651278000</us-gaap:Assets>
  <us-gaap:SegmentReportingDisclosureTextBlock id="Tag359" contextRef="C773175">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;div class="CursorPointer"&gt;
&lt;table style="font: 10pt times new roman, times, serif; margin-top: 0; margin-bottom: 0;" cellpadding="0" cellspacing="0"&gt;

&lt;tr style="vertical-align: top; text-align: justify;"&gt;
&lt;td style="width: 0in;"&gt;&lt;/td&gt;
&lt;td style="width: 0.5in; text-align: left; font-family: 'times new roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;b&gt;9.&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: justify; font-family: 'times new roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;b&gt;&lt;font style="text-decoration: underline;"&gt;Segment and Geographic Areas:&lt;/font&gt;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; margin-top: 0px; margin-bottom: 0px; width: 100%;"&gt;

&lt;tr style="vertical-align: top;"&gt;
&lt;td width="0px"&gt;&lt;/td&gt;
&lt;td style="width: 0.5in;"&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;The Company manufactures and distributes one product line, fragrances and fragrance related products. The Company manages its business in two segments, European based operations and United States based operations. The European assets are located, and operations are primarily conducted, in France. European operations primarily represent the sale of prestige brand name fragrances and United States operations primarily represent the sale of prestige brand name and specialty retail fragrance. Information on our operations by geographical areas is as follows:&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;div style="display: block;"&gt;
&lt;div style="margin-left: 0.5in;"&gt;
&lt;div class="CursorPointer"&gt;&lt;br/&gt;&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;div&gt;
&lt;div style="display: block;"&gt;
&lt;div style="margin-left: 0.5in;"&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; margin-left: 0.1px;" width="88%"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;(In thousands)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="text-align: center; padding: 0px;" colspan="6" nowrap="nowrap"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Three&amp;#160;months&amp;#160;ended&lt;br/&gt;&lt;/font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;March&amp;#160;31,&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;" nowrap="nowrap"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #ffffff;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" nowrap="nowrap" colspan="2"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;2015&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff;" nowrap="nowrap"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; text-align: center; background-color: #ffffff;" nowrap="nowrap"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" nowrap="nowrap" colspan="2"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;2014&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;" nowrap="nowrap"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Net sales:&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; text-indent: 10px; width: 70%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;United States&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; width: 1%;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;22,479&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;19,392&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; text-indent: 10px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Europe&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;86,787&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;102,376&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; text-indent: 10px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Eliminations&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;(17&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;(38&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;109,249&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;121,730&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: left;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: left;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Net&amp;#160;income&amp;#160;attributable&amp;#160;to&amp;#160;Inter&amp;#160;Parfums,&amp;#160;Inc.:&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; text-indent: 10px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;United States&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;1,109&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;(67&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; text-indent: 10px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Europe&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;8,898&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;8,961&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; text-indent: 10px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Eliminations&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;10,007&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;8,894&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;div style="display: block;"&gt;
&lt;div style="margin-left: 0.5in;"&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 88%; margin-left: 0.1px;"&gt;

&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff;" colspan="2"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;March&amp;#160;31,&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff;" colspan="2"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;March&amp;#160;31,&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; text-align: left; padding: 0px; background-color: #ffffff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="2"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;2015&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="2"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;2014&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; text-align: left; padding: 0px; background-color: #ffffff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Total Assets:&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; text-align: left; padding: 0px;"&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; text-align: right; padding: 0px;"&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; text-align: left; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; text-align: left; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; text-align: right; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; text-align: left; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; text-indent: 10px; width: 70%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;United States&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; width: 1%;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;75,648&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;71,014&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; text-indent: 10px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Europe&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;497,294&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;589,481&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; text-indent: 10px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Eliminations of investment in subsidiary&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;(9,179&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;(9,217&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;563,763&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;651,278&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;div style="margin-left: 0.5in;"&gt;
&lt;div class="CursorPointer"&gt;&lt;br/&gt;&lt;/div&gt;
&lt;/div&gt;
&lt;div style="display: block;"&gt;&lt;br/&gt;&lt;/div&gt;
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  <us-gaap:ScheduleOfSegmentReportingInformationBySegmentTextBlock id="Tag360" contextRef="C773175">&lt;div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"&gt;
&lt;div style="display: block;"&gt;
&lt;div style="margin-left: 0.5in;"&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; margin-left: 0.1px;" width="88%"&gt;

&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;(In thousands)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="text-align: center; padding: 0px;" colspan="6" nowrap="nowrap"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Three&amp;#160;months&amp;#160;ended&lt;br/&gt;&lt;/font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;March&amp;#160;31,&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;" nowrap="nowrap"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; background-color: #ffffff;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" nowrap="nowrap" colspan="2"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;2015&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff;" nowrap="nowrap"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman'; text-align: center; background-color: #ffffff;" nowrap="nowrap"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" nowrap="nowrap" colspan="2"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;2014&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;" nowrap="nowrap"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Net sales:&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';" nowrap="nowrap"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; text-indent: 10px; width: 70%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;United States&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; width: 1%;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;22,479&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;19,392&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; text-indent: 10px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Europe&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;86,787&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;102,376&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; text-indent: 10px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Eliminations&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;(17&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;(38&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;109,249&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;121,730&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: left;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: left;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Net&amp;#160;income&amp;#160;attributable&amp;#160;to&amp;#160;Inter&amp;#160;Parfums,&amp;#160;Inc.:&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; text-indent: 10px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;United States&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;1,109&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;(67&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; text-indent: 10px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Europe&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;8,898&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;8,961&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; text-indent: 10px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Eliminations&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#151;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;10,007&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;8,894&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;

&lt;/table&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;/div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;div style="display: block;"&gt;
&lt;div style="margin-left: 0.5in;"&gt;
&lt;div class="CursorPointer"&gt;
&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 88%; margin-left: 0.1px;"&gt;

&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff;" colspan="2"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;March&amp;#160;31,&lt;/font&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff;" colspan="2"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&lt;font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;"&gt;March&amp;#160;31,&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; text-align: left; padding: 0px; background-color: #ffffff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="2"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;2015&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="2"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;2014&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; text-align: left; padding: 0px; background-color: #ffffff;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Total Assets:&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; text-align: left; padding: 0px;"&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; text-align: right; padding: 0px;"&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; text-align: left; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; text-align: left; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; text-align: right; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; text-align: left; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; text-indent: 10px; width: 70%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;United States&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; width: 1%;"&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;75,648&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;71,014&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; text-indent: 10px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Europe&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
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&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;589,481&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
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&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px; text-indent: 10px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;Eliminations of investment in subsidiary&lt;/font&gt;&lt;/td&gt;
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&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
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&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
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&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
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&lt;td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"&gt;&lt;font style="font-family: 'times new roman', times; font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
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<TYPE>EX-101.SCH
<SEQUENCE>11
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<DESCRIPTION>XBRL TAXONOMY EXTENSION SCHEMA
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        <link:definition>8000 - Disclosure - Goodwill and Other Intangible Assets</link:definition>
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  <xsd:element name="NetIncomeAttributableToParentAndTransfersFromNoncontrollingInterestTableTextBlock" id="ipar_NetIncomeAttributableToParentAndTransfersFromNoncontrollingInterestTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
  <xsd:element name="OscarDeLaRentaMember" id="ipar_OscarDeLaRentaMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" nillable="true" abstract="true" xbrli:periodType="duration" />
  <xsd:element name="OtherComprehensiveIncomeLossReclassificationAdjustmentFromAccumulatedOtherComprehensiveIncomeOnDerivativesNetOfTaxAttributableToNoncontrollingInterests" id="ipar_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAccumulatedOtherComprehensiveIncomeOnDerivativesNetOfTaxAttributableToNoncontrollingInterests" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="OtherComprehensiveIncomeLossReclassificationAdjustmentFromAccumulatedOtherComprehensiveIncomeOnDerivativesNetOfTaxAttributableToParent" id="ipar_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAccumulatedOtherComprehensiveIncomeOnDerivativesNetOfTaxAttributableToParent" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="PackageDevelopmentCostsPolicyPolicyTextBlock" id="ipar_PackageDevelopmentCostsPolicyPolicyTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
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  <xsd:element name="PrepaidRoyaltiesNetPresentValue" id="ipar_PrepaidRoyaltiesNetPresentValue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="instant" />
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  <xsd:element name="PercentageOfIncreaseInAnnualDividend" id="ipar_PercentageOfIncreaseInAnnualDividend" type="num:percentItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:periodType="duration" />
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  <xsd:element name="AllocatedShareBasedCompensationExpenseEffectOnNetIncomeAttributableToParent" id="ipar_AllocatedShareBasedCompensationExpenseEffectOnNetIncomeAttributableToParent" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" abstract="false" xbrli:balance="debit" xbrli:periodType="duration" />
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>12
<FILENAME>ipar-20150331_cal.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION CALCULATION LINKBASE
<TEXT>
<XBRL>
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<html>
  <head>
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    <title></title>
    <link rel="stylesheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EOGAG">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Segment and Geographic Areas (Operations by Geographical Areas) (Details) (USD $)<br>In Thousands, unless otherwise specified</strong></div>
        </th>
        <th class="th" colspan="2">3 Months Ended</th>
        <th class="th" colspan="1"></th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2015</div>
        </th>
        <th class="th">
          <div>Mar. 31, 2014</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2014</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingInformationLineItems', window );"><strong>Segment Reporting Information [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SalesRevenueNet', window );">Net sales</a></td>
        <td class="nump"><a title="us-gaap_SalesRevenueNet" onclick="toggleNextSibling(this);">$ 109,249</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_SalesRevenueNet</span><span></span></td>
        <td class="nump"><a title="us-gaap_SalesRevenueNet" onclick="toggleNextSibling(this);">$ 121,730</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_SalesRevenueNet</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income attributable to Inter Parfums, Inc.</a></td>
        <td class="nump"><a title="us-gaap_NetIncomeLoss" onclick="toggleNextSibling(this);">10,007</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_NetIncomeLoss</span><span></span></td>
        <td class="nump"><a title="us-gaap_NetIncomeLoss" onclick="toggleNextSibling(this);">8,894</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_NetIncomeLoss</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">Total assets</a></td>
        <td class="nump"><a title="us-gaap_Assets" onclick="toggleNextSibling(this);">563,763</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_Assets</span><span></span></td>
        <td class="nump"><a title="us-gaap_Assets" onclick="toggleNextSibling(this);">651,278</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_Assets</span><span></span></td>
        <td class="nump"><a title="us-gaap_Assets" onclick="toggleNextSibling(this);">604,506</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_Assets</span><span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementGeographicalAxis=country_US', window );">United States [Member]</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingInformationLineItems', window );"><strong>Segment Reporting Information [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SalesRevenueNet', window );">Net sales</a></td>
        <td class="nump"><a title="us-gaap_SalesRevenueNet[us-gaap_StatementGeographicalAxis=country_US]" onclick="toggleNextSibling(this);">22,479</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_SalesRevenueNet<br>/ us-gaap_StatementGeographicalAxis<br>= country_US</span><span></span></td>
        <td class="nump"><a title="us-gaap_SalesRevenueNet[us-gaap_StatementGeographicalAxis=country_US]" onclick="toggleNextSibling(this);">19,392</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_SalesRevenueNet<br>/ us-gaap_StatementGeographicalAxis<br>= country_US</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income attributable to Inter Parfums, Inc.</a></td>
        <td class="nump"><a title="us-gaap_NetIncomeLoss[us-gaap_StatementGeographicalAxis=country_US]" onclick="toggleNextSibling(this);">1,109</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_NetIncomeLoss<br>/ us-gaap_StatementGeographicalAxis<br>= country_US</span><span></span></td>
        <td class="num"><a title="us-gaap_NetIncomeLoss[us-gaap_StatementGeographicalAxis=country_US]" onclick="toggleNextSibling(this);">(67)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_NetIncomeLoss<br>/ us-gaap_StatementGeographicalAxis<br>= country_US</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">Total assets</a></td>
        <td class="nump"><a title="us-gaap_Assets[us-gaap_StatementGeographicalAxis=country_US]" onclick="toggleNextSibling(this);">75,648</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_Assets<br>/ us-gaap_StatementGeographicalAxis<br>= country_US</span><span></span></td>
        <td class="nump"><a title="us-gaap_Assets[us-gaap_StatementGeographicalAxis=country_US]" onclick="toggleNextSibling(this);">71,014</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_Assets<br>/ us-gaap_StatementGeographicalAxis<br>= country_US</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementGeographicalAxis=us-gaap_EuropeMember', window );">Europe [Member]</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingInformationLineItems', window );"><strong>Segment Reporting Information [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SalesRevenueNet', window );">Net sales</a></td>
        <td class="nump"><a title="us-gaap_SalesRevenueNet[us-gaap_StatementGeographicalAxis=us-gaap_EuropeMember]" onclick="toggleNextSibling(this);">86,787</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_SalesRevenueNet<br>/ us-gaap_StatementGeographicalAxis<br>= us-gaap_EuropeMember</span><span></span></td>
        <td class="nump"><a title="us-gaap_SalesRevenueNet[us-gaap_StatementGeographicalAxis=us-gaap_EuropeMember]" onclick="toggleNextSibling(this);">102,376</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_SalesRevenueNet<br>/ us-gaap_StatementGeographicalAxis<br>= us-gaap_EuropeMember</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income attributable to Inter Parfums, Inc.</a></td>
        <td class="nump"><a title="us-gaap_NetIncomeLoss[us-gaap_StatementGeographicalAxis=us-gaap_EuropeMember]" onclick="toggleNextSibling(this);">8,898</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_NetIncomeLoss<br>/ us-gaap_StatementGeographicalAxis<br>= us-gaap_EuropeMember</span><span></span></td>
        <td class="nump"><a title="us-gaap_NetIncomeLoss[us-gaap_StatementGeographicalAxis=us-gaap_EuropeMember]" onclick="toggleNextSibling(this);">8,961</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_NetIncomeLoss<br>/ us-gaap_StatementGeographicalAxis<br>= us-gaap_EuropeMember</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">Total assets</a></td>
        <td class="nump"><a title="us-gaap_Assets[us-gaap_StatementGeographicalAxis=us-gaap_EuropeMember]" onclick="toggleNextSibling(this);">497,294</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_Assets<br>/ us-gaap_StatementGeographicalAxis<br>= us-gaap_EuropeMember</span><span></span></td>
        <td class="nump"><a title="us-gaap_Assets[us-gaap_StatementGeographicalAxis=us-gaap_EuropeMember]" onclick="toggleNextSibling(this);">589,481</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_Assets<br>/ us-gaap_StatementGeographicalAxis<br>= us-gaap_EuropeMember</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
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        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingInformationLineItems', window );"><strong>Segment Reporting Information [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SalesRevenueNet', window );">Net sales</a></td>
        <td class="num"><a title="us-gaap_SalesRevenueNet[us-gaap_StatementGeographicalAxis=us-gaap_IntersegmentEliminationMember]" onclick="toggleNextSibling(this);">(17)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_SalesRevenueNet<br>/ us-gaap_StatementGeographicalAxis<br>= us-gaap_IntersegmentEliminationMember</span><span></span></td>
        <td class="num"><a title="us-gaap_SalesRevenueNet[us-gaap_StatementGeographicalAxis=us-gaap_IntersegmentEliminationMember]" onclick="toggleNextSibling(this);">(38)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_SalesRevenueNet<br>/ us-gaap_StatementGeographicalAxis<br>= us-gaap_IntersegmentEliminationMember</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income attributable to Inter Parfums, Inc.</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">Total assets</a></td>
        <td class="num"><a title="us-gaap_Assets[us-gaap_StatementGeographicalAxis=us-gaap_IntersegmentEliminationMember]" onclick="toggleNextSibling(this);">$ (9,179)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_Assets<br>/ us-gaap_StatementGeographicalAxis<br>= us-gaap_IntersegmentEliminationMember</span><span></span></td>
        <td class="num"><a title="us-gaap_Assets[us-gaap_StatementGeographicalAxis=us-gaap_IntersegmentEliminationMember]" onclick="toggleNextSibling(this);">$ (9,217)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_Assets<br>/ us-gaap_StatementGeographicalAxis<br>= us-gaap_IntersegmentEliminationMember</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
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                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
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                    <td>duration</td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 1<br><br> -Article 5<br><br><br><br></p>
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                    <td style="white-space:nowrap;">us-gaap_SegmentReportingInformationLineItems</td>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0ESFAI">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>Fair Value Measurement (Details) (Fair Value, Measurements, Recurring [Member], USD $)<br>In Thousands, unless otherwise specified</strong></div>
        </th>
        <th class="th">
          <div>Mar. 31, 2015</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2014</div>
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      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureAbstract', window );"><strong>Assets:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentsFairValueDisclosure', window );">Short-term investments</a></td>
        <td class="nump"><a title="us-gaap_InvestmentsFairValueDisclosure" onclick="toggleNextSibling(this);">$ 155,938</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_InvestmentsFairValueDisclosure</span><span></span></td>
        <td class="nump"><a title="us-gaap_InvestmentsFairValueDisclosure" onclick="toggleNextSibling(this);">$ 190,152</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_InvestmentsFairValueDisclosure</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureAbstract', window );"><strong>Liabilities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ForeignCurrencyContractsLiabilityFairValueDisclosure', window );">Foreign currency forward exchange contracts</a></td>
        <td class="nump"><a title="us-gaap_ForeignCurrencyContractsLiabilityFairValueDisclosure" onclick="toggleNextSibling(this);">2,222</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ForeignCurrencyContractsLiabilityFairValueDisclosure</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl " style="border-bottom: 0px;" valign="top">
          <div class="a">Accounted for using hedge accounting</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureAbstract', window );"><strong>Liabilities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ForeignCurrencyContractsLiabilityFairValueDisclosure', window );">Foreign currency forward exchange contracts</a></td>
        <td class="nump"><a title="us-gaap_ForeignCurrencyContractsLiabilityFairValueDisclosure[us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsRecurringMember;us-gaap_HedgingDesignationAxis=us-gaap_DesignatedAsHedgingInstrumentMember]" onclick="toggleNextSibling(this);">981</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ForeignCurrencyContractsLiabilityFairValueDisclosure<br>/ us-gaap_FairValueByMeasurementFrequencyAxis<br>= us-gaap_FairValueMeasurementsRecurringMember<br>/ us-gaap_HedgingDesignationAxis<br>= us-gaap_DesignatedAsHedgingInstrumentMember</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl " style="border-bottom: 0px;" valign="top">
          <div class="a">Not accounted for using hedge accounting</div>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureAbstract', window );"><strong>Liabilities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ForeignCurrencyContractsLiabilityFairValueDisclosure', window );">Foreign currency forward exchange contracts</a></td>
        <td class="nump"><a title="us-gaap_ForeignCurrencyContractsLiabilityFairValueDisclosure[us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsRecurringMember;us-gaap_HedgingDesignationAxis=us-gaap_NondesignatedMember]" onclick="toggleNextSibling(this);">1,241</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ForeignCurrencyContractsLiabilityFairValueDisclosure<br>/ us-gaap_FairValueByMeasurementFrequencyAxis<br>= us-gaap_FairValueMeasurementsRecurringMember<br>/ us-gaap_HedgingDesignationAxis<br>= us-gaap_NondesignatedMember</span><span></span></td>
        <td class="nump"><a title="us-gaap_ForeignCurrencyContractsLiabilityFairValueDisclosure[us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsRecurringMember;us-gaap_HedgingDesignationAxis=us-gaap_NondesignatedMember]" onclick="toggleNextSibling(this);">355</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ForeignCurrencyContractsLiabilityFairValueDisclosure<br>/ us-gaap_FairValueByMeasurementFrequencyAxis<br>= us-gaap_FairValueMeasurementsRecurringMember<br>/ us-gaap_HedgingDesignationAxis<br>= us-gaap_NondesignatedMember</span><span></span></td>
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        <td class="pl " style="border-bottom: 0px;" valign="top">
          <div class="a">Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]</div>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureAbstract', window );"><strong>Assets:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentsFairValueDisclosure', window );">Short-term investments</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
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      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureAbstract', window );"><strong>Liabilities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ForeignCurrencyContractsLiabilityFairValueDisclosure', window );">Foreign currency forward exchange contracts</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl " style="border-bottom: 0px;" valign="top">
          <div class="a">Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Accounted for using hedge accounting</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureAbstract', window );"><strong>Liabilities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ForeignCurrencyContractsLiabilityFairValueDisclosure', window );">Foreign currency forward exchange contracts</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl " style="border-bottom: 0px;" valign="top">
          <div class="a">Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Not accounted for using hedge accounting</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureAbstract', window );"><strong>Liabilities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ForeignCurrencyContractsLiabilityFairValueDisclosure', window );">Foreign currency forward exchange contracts</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl " style="border-bottom: 0px;" valign="top">
          <div class="a">Significant Other Observable Inputs (Level 2) [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureAbstract', window );"><strong>Assets:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentsFairValueDisclosure', window );">Short-term investments</a></td>
        <td class="nump"><a title="us-gaap_InvestmentsFairValueDisclosure[us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member;us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsRecurringMember]" onclick="toggleNextSibling(this);">155,938</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_InvestmentsFairValueDisclosure<br>/ us-gaap_FairValueByFairValueHierarchyLevelAxis<br>= us-gaap_FairValueInputsLevel2Member<br>/ us-gaap_FairValueByMeasurementFrequencyAxis<br>= us-gaap_FairValueMeasurementsRecurringMember</span><span></span></td>
        <td class="nump"><a title="us-gaap_InvestmentsFairValueDisclosure[us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member;us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsRecurringMember]" onclick="toggleNextSibling(this);">190,152</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_InvestmentsFairValueDisclosure<br>/ us-gaap_FairValueByFairValueHierarchyLevelAxis<br>= us-gaap_FairValueInputsLevel2Member<br>/ us-gaap_FairValueByMeasurementFrequencyAxis<br>= us-gaap_FairValueMeasurementsRecurringMember</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureAbstract', window );"><strong>Liabilities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ForeignCurrencyContractsLiabilityFairValueDisclosure', window );">Foreign currency forward exchange contracts</a></td>
        <td class="nump"><a title="us-gaap_ForeignCurrencyContractsLiabilityFairValueDisclosure[us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member;us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsRecurringMember]" onclick="toggleNextSibling(this);">2,222</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ForeignCurrencyContractsLiabilityFairValueDisclosure<br>/ us-gaap_FairValueByFairValueHierarchyLevelAxis<br>= us-gaap_FairValueInputsLevel2Member<br>/ us-gaap_FairValueByMeasurementFrequencyAxis<br>= us-gaap_FairValueMeasurementsRecurringMember</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl " style="border-bottom: 0px;" valign="top">
          <div class="a">Significant Other Observable Inputs (Level 2) [Member] | Accounted for using hedge accounting</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureAbstract', window );"><strong>Liabilities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ForeignCurrencyContractsLiabilityFairValueDisclosure', window );">Foreign currency forward exchange contracts</a></td>
        <td class="nump"><a title="us-gaap_ForeignCurrencyContractsLiabilityFairValueDisclosure[us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member;us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsRecurringMember;us-gaap_HedgingDesignationAxis=us-gaap_DesignatedAsHedgingInstrumentMember]" onclick="toggleNextSibling(this);">981</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ForeignCurrencyContractsLiabilityFairValueDisclosure<br>/ us-gaap_FairValueByFairValueHierarchyLevelAxis<br>= us-gaap_FairValueInputsLevel2Member<br>/ us-gaap_FairValueByMeasurementFrequencyAxis<br>= us-gaap_FairValueMeasurementsRecurringMember<br>/ us-gaap_HedgingDesignationAxis<br>= us-gaap_DesignatedAsHedgingInstrumentMember</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl " style="border-bottom: 0px;" valign="top">
          <div class="a">Significant Other Observable Inputs (Level 2) [Member] | Not accounted for using hedge accounting</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureAbstract', window );"><strong>Liabilities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ForeignCurrencyContractsLiabilityFairValueDisclosure', window );">Foreign currency forward exchange contracts</a></td>
        <td class="nump"><a title="us-gaap_ForeignCurrencyContractsLiabilityFairValueDisclosure[us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member;us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsRecurringMember;us-gaap_HedgingDesignationAxis=us-gaap_NondesignatedMember]" onclick="toggleNextSibling(this);">1,241</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ForeignCurrencyContractsLiabilityFairValueDisclosure<br>/ us-gaap_FairValueByFairValueHierarchyLevelAxis<br>= us-gaap_FairValueInputsLevel2Member<br>/ us-gaap_FairValueByMeasurementFrequencyAxis<br>= us-gaap_FairValueMeasurementsRecurringMember<br>/ us-gaap_HedgingDesignationAxis<br>= us-gaap_NondesignatedMember</span><span></span></td>
        <td class="nump"><a title="us-gaap_ForeignCurrencyContractsLiabilityFairValueDisclosure[us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member;us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsRecurringMember;us-gaap_HedgingDesignationAxis=us-gaap_NondesignatedMember]" onclick="toggleNextSibling(this);">355</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ForeignCurrencyContractsLiabilityFairValueDisclosure<br>/ us-gaap_FairValueByFairValueHierarchyLevelAxis<br>= us-gaap_FairValueInputsLevel2Member<br>/ us-gaap_FairValueByMeasurementFrequencyAxis<br>= us-gaap_FairValueMeasurementsRecurringMember<br>/ us-gaap_HedgingDesignationAxis<br>= us-gaap_NondesignatedMember</span><span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl " style="border-bottom: 0px;" valign="top">
          <div class="a">Significant Unobservable Inputs (Level 3) [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureAbstract', window );"><strong>Assets:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentsFairValueDisclosure', window );">Short-term investments</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureAbstract', window );"><strong>Liabilities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ForeignCurrencyContractsLiabilityFairValueDisclosure', window );">Foreign currency forward exchange contracts</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl " style="border-bottom: 0px;" valign="top">
          <div class="a">Significant Unobservable Inputs (Level 3) [Member] | Accounted for using hedge accounting</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureAbstract', window );"><strong>Liabilities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ForeignCurrencyContractsLiabilityFairValueDisclosure', window );">Foreign currency forward exchange contracts</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl " style="border-bottom: 0px;" valign="top">
          <div class="a">Significant Unobservable Inputs (Level 3) [Member] | Not accounted for using hedge accounting</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
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        <td class="text">&#xA0;<span></span></td>
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              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EME">
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          <div style="width: 200px;"><strong>Recent Accounting Pronouncements<br></strong></div>
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        <th class="th" colspan="1">3 Months Ended</th>
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          <div>Mar. 31, 2015</div>
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        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract', window );"><strong>Recent Accounting Pronouncements [Abstract]</strong></a></td>
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        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock', window );">Recent Accounting Pronouncements</a></td>
        <td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div class="CursorPointer"><table cellpadding="0" cellspacing="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; margin-top: 0px; margin-bottom: 0px; width: 100%;">  <tr style="vertical-align: top;"> <td width="0px"></td> <td style="width: 0.5in; font-family: 'times new roman';"><b>2.</b></td> <td style="font-family: 'Times New Roman';"><b><font style="text-decoration: underline;">Recent Accounting Pronouncements:</font></b></td> </tr>  </table></div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0;">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify;">In May 2014, the Financial Accounting Standards Board (&#147;FASB&#148;) issued an Accounting Standards Update which supersedes the most current revenue recognition requirements. The new revenue recognition standard requires entities to recognize revenue in a way that depicts the transfer of goods or services to customers in an amount that reflects the consideration which the entity expects to be entitled to in exchange for those goods or services. This guidance is effective for annual and interim reporting periods beginning after December 15, 2016, with early adoption not permitted. We are currently evaluating the standard to determine the impact of its adoption on our consolidated financial statements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in;">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in;">There are no other recent accounting pronouncements issued but not yet adopted that would have a material effect on our consolidated financial statements.</p>  </div><span></span></td>
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                <p>The entire disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.</p>
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<DOCUMENT>
<TYPE>EXCEL
<SEQUENCE>19
<FILENAME>Financial_Report.xls
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <title></title>
    <link rel="stylesheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EKAAE">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Share-Based Payments (Schedule of Stock Option Activity) (Details) (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="1">3 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2015</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward', window );"><strong>Shares</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber', window );">Outstanding, beginning balance</a></td>
        <td class="nump"><a title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" onclick="toggleNextSibling(this);">639,495</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod', window );">Options granted</a></td>
        <td class="nump"><a title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod" onclick="toggleNextSibling(this);">14,000</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod', window );">Options cancelled</a></td>
        <td class="num"><a title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod" onclick="toggleNextSibling(this);">(2,170)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised', window );">Options exercised</a></td>
        <td class="num"><a title="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" onclick="toggleNextSibling(this);">(4,808)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber', window );">Outstanding, ending balance</a></td>
        <td class="nump"><a title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" onclick="toggleNextSibling(this);">646,517</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber', window );">Options exercisable</a></td>
        <td class="nump"><a title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" onclick="toggleNextSibling(this);">254,097</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant', window );">Options available for future grants</a></td>
        <td class="nump"><a title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant" onclick="toggleNextSibling(this);">316,705</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward', window );"><strong>Weighted Average Exercise Price</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice', window );">Outstanding, beginning balance</a></td>
        <td class="nump"><a title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" onclick="toggleNextSibling(this);">$ 23.19</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice', window );">Options granted</a></td>
        <td class="nump"><a title="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" onclick="toggleNextSibling(this);">$ 25.67</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice', window );">Options cancelled</a></td>
        <td class="nump"><a title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice" onclick="toggleNextSibling(this);">$ 25.49</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice', window );">Options exercised</a></td>
        <td class="nump"><a title="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" onclick="toggleNextSibling(this);">$ 17.14</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice', window );">Outstanding, ending balance</a></td>
        <td class="nump"><a title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" onclick="toggleNextSibling(this);">$ 23.28</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice', window );">Options exercisable</a></td>
        <td class="nump"><a title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" onclick="toggleNextSibling(this);">$ 18.50</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice</span><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The difference between the maximum number of shares (or other type of equity) authorized for issuance under the plan (including the effects of amendments and adjustments), and the sum of: 1) the number of shares (or other type of equity) already issued upon exercise of options or other equity-based awards under the plan; and 2) shares (or other type of equity) reserved for issuance on granting of outstanding awards, net of cancellations and forfeitures, if applicable.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The number of shares into which fully or partially vested stock options outstanding as of the balance sheet date can be currently converted under the option plan.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)(1)(iii)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The weighted-average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on vested portions of options outstanding and currently exercisable under the stock option plan.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)(1)(iii)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Weighted average price of options that were either forfeited or expired.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)(1)(iv)(3)-(4)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The number of shares under options that were cancelled during the reporting period as a result of occurrence of a terminating event specified in contractual agreements pertaining to the stock option plan.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)(1)(iv)(3)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Net number of share options (or share units) granted during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)(1)(iv)(1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of options outstanding, including both vested and non-vested options.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)(1)(i)-(ii)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
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        </tr>
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        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Weighted average price at which grantees can acquire the shares reserved for issuance under the stock option plan.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)(1)(i)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward</td>
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                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice">
        <tr>
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        <tr>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Weighted average price at which option holders acquired shares when converting their stock options into shares.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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                </table>
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          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Weighted average per share amount at which grantees can acquire shares of common stock by exercise of options.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of share options (or share units) exercised during the current period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28,29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)(1)(iv)(2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised</td>
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                    <td>xbrli:sharesItemType</td>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0E3PAC">
      <tr>
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          <div style="width: 200px;"><strong>Share-Based Payments (Schedule of Nonvested Option Activity) (Details) (USD $)<br></strong></div>
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        <th class="th" colspan="2">3 Months Ended</th>
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      <tr>
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          <div>Mar. 31, 2015</div>
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          <div>Mar. 31, 2014</div>
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        <td class="nump"><a title="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares" onclick="toggleNextSibling(this);">385,505</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares</span><span></span></td>
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        <td class="nump"><a title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" onclick="toggleNextSibling(this);">14,000</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonvestedOptionsVestedOrForfeitedInPeriod', window );">Vested or forfeited</a></td>
        <td class="num"><a title="ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonvestedOptionsVestedOrForfeitedInPeriod" onclick="toggleNextSibling(this);">(7,085)</a><span style="display:none;white-space:normal;text-align:left;">ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonvestedOptionsVestedOrForfeitedInPeriod</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares', window );">End of period</a></td>
        <td class="nump"><a title="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares" onclick="toggleNextSibling(this);">392,420</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueAbstract', window );"><strong>Weighted Average Grant Date Fair Value</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue', window );">Beginning of period</a></td>
        <td class="nump"><a title="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue" onclick="toggleNextSibling(this);">$ 7.14</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue', window );">Granted</a></td>
        <td class="nump"><a title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" onclick="toggleNextSibling(this);">$ 6.73</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue</span><span></span></td>
        <td class="nump"><a title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" onclick="toggleNextSibling(this);">$ 8.37</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedOrForfeitedInPeriodWeightedAverageGrantDateFairValue', window );">Vested or forfeited</a></td>
        <td class="nump"><a title="ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedOrForfeitedInPeriodWeightedAverageGrantDateFairValue" onclick="toggleNextSibling(this);">$ 6.39</a><span style="display:none;white-space:normal;text-align:left;">ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedOrForfeitedInPeriodWeightedAverageGrantDateFairValue</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue', window );">End of period</a></td>
        <td class="nump"><a title="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue" onclick="toggleNextSibling(this);">$ 7.14</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonvestedOptionsVestedOrForfeitedInPeriod">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of nonvested share-based payment award options that vested or were forfeited during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonvestedOptionsVestedOrForfeitedInPeriod</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>ipar_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedOrForfeitedInPeriodWeightedAverageGrantDateFairValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Weighted average grant date fair value of nonvested options that were vested or forfeited during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">ipar_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedOrForfeitedInPeriodWeightedAverageGrantDateFairValue</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>ipar_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Gross number of share options (or share units) granted during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The weighted average grant-date fair value of options granted during the reporting period as calculated by applying the disclosed option pricing methodology.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (d)(1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of non-vested options outstanding.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Weighted average grant-date fair value of non-vested options outstanding.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueAbstract</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
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          </td>
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<TYPE>XML
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<FILENAME>R30.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
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  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <title></title>
    <link rel="stylesheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EHDAC">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Share-Based Payments (Summary of Stock Options Exercised) (Details) (USD $)<br>In Thousands, unless otherwise specified</strong></div>
        </th>
        <th class="th" colspan="2">3 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2015</div>
        </th>
        <th class="th">
          <div>Mar. 31, 2014</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityAbstract', window );"><strong>Equity [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromStockOptionsExercised', window );">Cash proceeds from stock options exercised</a></td>
        <td class="nump"><a title="us-gaap_ProceedsFromStockOptionsExercised" onclick="toggleNextSibling(this);">$ 82</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ProceedsFromStockOptionsExercised</span><span></span></td>
        <td class="nump"><a title="us-gaap_ProceedsFromStockOptionsExercised" onclick="toggleNextSibling(this);">$ 695</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ProceedsFromStockOptionsExercised</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxExpenseFromStockOptionsExercised', window );">Tax benefits</a></td>
        <td class="nump"><a title="us-gaap_DeferredTaxExpenseFromStockOptionsExercised" onclick="toggleNextSibling(this);">0</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_DeferredTaxExpenseFromStockOptionsExercised</span><span></span></td>
        <td class="nump"><a title="us-gaap_DeferredTaxExpenseFromStockOptionsExercised" onclick="toggleNextSibling(this);">0</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_DeferredTaxExpenseFromStockOptionsExercised</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue', window );">Intrinsic value of stock options exercised</a></td>
        <td class="nump"><a title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue" onclick="toggleNextSibling(this);">$ 66</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue</span><span></span></td>
        <td class="nump"><a title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue" onclick="toggleNextSibling(this);">$ 1,455</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue</span><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxExpenseFromStockOptionsExercised">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of deferred tax expense from write-off of the deferred tax asset related to deductible stock options at exercise.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 20<br><br> -Section 55<br><br> -Paragraph 20<br><br> -URI http://asc.fasb.org/extlink&amp;oid=32706628&amp;loc=d3e11283-113907<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_DeferredTaxExpenseFromStockOptionsExercised</td>
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                    <td><strong> Name:</strong></td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromStockOptionsExercised">
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (j)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 14<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3255-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_ProceedsFromStockOptionsExercised</td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of accumulated difference between fair value of underlying shares on dates of exercise and exercise price on options exercised (or share units converted) into shares.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (d)(2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
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                    <td><strong> Name:</strong></td>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EHFAC">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Share-Based Payments (Schedule of Assumptions Used to Estimate Fair Value of Stock Options) (Details)<br></strong></div>
        </th>
        <th class="th" colspan="2">3 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2015</div>
        </th>
        <th class="th">
          <div>Mar. 31, 2014</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityAbstract', window );"><strong>Equity [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate', window );">Weighted-average expected stock-price volatility</a></td>
        <td class="nump"><a title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate" onclick="toggleNextSibling(this);">34.00%</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate</span><span></span></td>
        <td class="nump"><a title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate" onclick="toggleNextSibling(this);">37.00%</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate</span><span></span></td>
      </tr>
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        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1', window );">Weighted-average expected option life</a></td>
        <td class="text">5 years<span></span></td>
        <td class="text">5 years<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate', window );">Weighted-average risk-free interest rate</a></td>
        <td class="nump"><a title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate" onclick="toggleNextSibling(this);">1.28%</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate</span><span></span></td>
        <td class="nump"><a title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate" onclick="toggleNextSibling(this);">1.55%</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate', window );">Weighted-average dividend yield</a></td>
        <td class="nump"><a title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate" onclick="toggleNextSibling(this);">1.80%</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate</span><span></span></td>
        <td class="nump"><a title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate" onclick="toggleNextSibling(this);">2.80%</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate</span><span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The estimated dividend rate (a percentage of the share price) to be paid (expected dividends) to holders of the underlying shares over the option's term.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (f)(2)(iii)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate</td>
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                    <td>na</td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Expected term of share-based compensation awards, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SAB TOPIC 14.D.2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27013229&amp;loc=d3e301413-122809<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (f)(2)(i)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 14<br><br> -Section D<br><br> -Subsection 2<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1</td>
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                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The estimated measure of the percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (f)(2)(ii)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
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                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate</td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The risk-free interest rate assumption that is used in valuing an option on its own shares.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (f)(2)(iv)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EME">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Significant Accounting Policies<br></strong></div>
        </th>
        <th class="th" colspan="1">3 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2015</div>
        </th>
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      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>Significant Accounting Policies [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SignificantAccountingPoliciesTextBlock', window );">Significant Accounting Policies</a></td>
        <td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div class="CursorPointer"><table cellpadding="0" cellspacing="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; margin-top: 0px; margin-bottom: 0px; width: 100%;">  <tr style="vertical-align: top;"> <td width="0px"></td> <td style="width: 0.5in; font-family: 'times new roman';"><b>1.</b></td> <td style="font-family: 'Times New Roman';"><b><font style="text-decoration: underline;">Significant Accounting Policies:</font></b></td> </tr>  </table></div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0;">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in;">The accounting policies we follow are set forth in the notes to our financial statements included in our Form 10-K which was filed with the Securities and Exchange Commission for the year ended December 31, 2014. We also discuss such policies in Part I, Item 2, Management's Discussion and Analysis of Financial Condition and Results of Operations, included in this Form 10-Q.</p>   </div><span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
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                    <td><strong> Name:</strong></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for all significant accounting policies of the reporting entity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18780-107790<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18726-107790<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18861-107790<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18743-107790<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18854-107790<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0ESLAE">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Net Income Attributable to Inter Parfums, Inc Common Shareholders (Details) (USD $)<br>In Thousands, except Share data, unless otherwise specified</strong></div>
        </th>
        <th class="th" colspan="2">3 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2015</div>
        </th>
        <th class="th">
          <div>Mar. 31, 2014</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ipar_EarningsPerShareDilutedNumeratorAbstract', window );"><strong>Numerator:</strong></a></td>
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      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income attributable to Inter Parfums, Inc.</a></td>
        <td class="nump"><a title="us-gaap_NetIncomeLoss" onclick="toggleNextSibling(this);">$ 10,007</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_NetIncomeLoss</span><span></span></td>
        <td class="nump"><a title="us-gaap_NetIncomeLoss" onclick="toggleNextSibling(this);">$ 8,894</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_NetIncomeLoss</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract', window );"><strong>Denominator:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic', window );">Weighted average shares</a></td>
        <td class="nump"><a title="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" onclick="toggleNextSibling(this);">30,979,000</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_WeightedAverageNumberOfSharesOutstandingBasic</span><span></span></td>
        <td class="nump"><a title="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" onclick="toggleNextSibling(this);">30,900,000</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_WeightedAverageNumberOfSharesOutstandingBasic</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment', window );">Effect of dilutive securities: Stock options</a></td>
        <td class="nump"><a title="us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment" onclick="toggleNextSibling(this);">93,000</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment</span><span></span></td>
        <td class="nump"><a title="us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment" onclick="toggleNextSibling(this);">158,000</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment</span><span></span></td>
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      <tr class="rou">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding', window );">Denominator for diluted earnings per share</a></td>
        <td class="nump"><a title="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" onclick="toggleNextSibling(this);">31,072,000</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding</span><span></span></td>
        <td class="nump"><a title="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" onclick="toggleNextSibling(this);">31,058,000</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DilutiveSecuritiesAbstract', window );"><strong>Earnings per share:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasic', window );">Basic</a></td>
        <td class="nump"><a title="us-gaap_EarningsPerShareBasic" onclick="toggleNextSibling(this);">$ 0.32</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_EarningsPerShareBasic</span><span></span></td>
        <td class="nump"><a title="us-gaap_EarningsPerShareBasic" onclick="toggleNextSibling(this);">$ 0.29</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_EarningsPerShareBasic</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareDiluted', window );">Diluted</a></td>
        <td class="nump"><a title="us-gaap_EarningsPerShareDiluted" onclick="toggleNextSibling(this);">$ 0.32</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_EarningsPerShareDiluted</span><span></span></td>
        <td class="nump"><a title="us-gaap_EarningsPerShareDiluted" onclick="toggleNextSibling(this);">$ 0.29</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_EarningsPerShareDiluted</span><span></span></td>
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      <tr class="rh">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis=us-gaap_StockOptionMember', window );">Stock Options [Member]</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareLineItems', window );"><strong>Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount', window );">Potentially antidilutive common shares</a></td>
        <td class="nump"><a title="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount[us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis=us-gaap_StockOptionMember]" onclick="toggleNextSibling(this);">270,000</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount<br>/ us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis<br>= us-gaap_StockOptionMember</span><span></span></td>
        <td class="nump"><a title="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount[us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis=us-gaap_StockOptionMember]" onclick="toggleNextSibling(this);">130,000</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount<br>/ us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis<br>= us-gaap_StockOptionMember</span><span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Antidilution<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6505113<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Diluted Earnings Per Share<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6510752<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Contingent Stock Agreement<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6508534<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
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                    <td><strong> Name:</strong></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
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              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.21)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 18<br><br> -Article 7<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 20<br><br> -Article 5<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 21<br><br> -Article 9<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Other Comprehensive Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6519514<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Net Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6518256<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.19)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.18)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.22)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 19<br><br> -Article 5<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 20<br><br> -Article 9<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
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                    <td>duration</td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The sum of dilutive potential common shares or units used in the calculation of the diluted per-share or per-unit computation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment</td>
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                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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                    <td><strong> Data Type:</strong></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
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              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                    <td><strong> Name:</strong></td>
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                <table border="0" cellpadding="0" cellspacing="0">
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                    <td><strong> Name:</strong></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
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                  <tr>
                    <td><strong> Name:</strong></td>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EQOAG">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>CONSOLIDATED BALANCE SHEETS (USD $)<br>In Thousands, unless otherwise specified</strong></div>
        </th>
        <th class="th">
          <div>Mar. 31, 2015</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2014</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrentAbstract', window );"><strong>Current assets:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents</a></td>
        <td class="nump"><a title="us-gaap_CashAndCashEquivalentsAtCarryingValue" onclick="toggleNextSibling(this);">$ 87,242</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_CashAndCashEquivalentsAtCarryingValue</span><span></span></td>
        <td class="nump"><a title="us-gaap_CashAndCashEquivalentsAtCarryingValue" onclick="toggleNextSibling(this);">$ 90,138</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_CashAndCashEquivalentsAtCarryingValue</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermInvestments', window );">Short-term investments</a></td>
        <td class="nump"><a title="us-gaap_ShortTermInvestments" onclick="toggleNextSibling(this);">155,938</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ShortTermInvestments</span><span></span></td>
        <td class="nump"><a title="us-gaap_ShortTermInvestments" onclick="toggleNextSibling(this);">190,152</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ShortTermInvestments</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableNetCurrent', window );">Accounts receivable, net</a></td>
        <td class="nump"><a title="us-gaap_AccountsReceivableNetCurrent" onclick="toggleNextSibling(this);">96,387</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_AccountsReceivableNetCurrent</span><span></span></td>
        <td class="nump"><a title="us-gaap_AccountsReceivableNetCurrent" onclick="toggleNextSibling(this);">90,124</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_AccountsReceivableNetCurrent</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryNet', window );">Inventories</a></td>
        <td class="nump"><a title="us-gaap_InventoryNet" onclick="toggleNextSibling(this);">104,554</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_InventoryNet</span><span></span></td>
        <td class="nump"><a title="us-gaap_InventoryNet" onclick="toggleNextSibling(this);">102,326</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_InventoryNet</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherReceivablesNetCurrent', window );">Receivables, other</a></td>
        <td class="nump"><a title="us-gaap_OtherReceivablesNetCurrent" onclick="toggleNextSibling(this);">1,473</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_OtherReceivablesNetCurrent</span><span></span></td>
        <td class="nump"><a title="us-gaap_OtherReceivablesNetCurrent" onclick="toggleNextSibling(this);">1,542</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_OtherReceivablesNetCurrent</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAssetsCurrent', window );">Other current assets</a></td>
        <td class="nump"><a title="us-gaap_OtherAssetsCurrent" onclick="toggleNextSibling(this);">4,665</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_OtherAssetsCurrent</span><span></span></td>
        <td class="nump"><a title="us-gaap_OtherAssetsCurrent" onclick="toggleNextSibling(this);">4,504</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_OtherAssetsCurrent</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReceivable', window );">Income taxes receivable</a></td>
        <td class="nump"><a title="us-gaap_IncomeTaxReceivable" onclick="toggleNextSibling(this);">333</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_IncomeTaxReceivable</span><span></span></td>
        <td class="nump"><a title="us-gaap_IncomeTaxReceivable" onclick="toggleNextSibling(this);">929</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_IncomeTaxReceivable</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsLiabilitiesNetCurrent', window );">Deferred tax assets</a></td>
        <td class="nump"><a title="us-gaap_DeferredTaxAssetsLiabilitiesNetCurrent" onclick="toggleNextSibling(this);">6,953</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_DeferredTaxAssetsLiabilitiesNetCurrent</span><span></span></td>
        <td class="nump"><a title="us-gaap_DeferredTaxAssetsLiabilitiesNetCurrent" onclick="toggleNextSibling(this);">6,848</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_DeferredTaxAssetsLiabilitiesNetCurrent</span><span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrent', window );">Total current assets</a></td>
        <td class="nump"><a title="us-gaap_AssetsCurrent" onclick="toggleNextSibling(this);">457,545</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_AssetsCurrent</span><span></span></td>
        <td class="nump"><a title="us-gaap_AssetsCurrent" onclick="toggleNextSibling(this);">486,563</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_AssetsCurrent</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Equipment and leasehold improvements, net</a></td>
        <td class="nump"><a title="us-gaap_PropertyPlantAndEquipmentNet" onclick="toggleNextSibling(this);">8,253</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_PropertyPlantAndEquipmentNet</span><span></span></td>
        <td class="nump"><a title="us-gaap_PropertyPlantAndEquipmentNet" onclick="toggleNextSibling(this);">9,187</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_PropertyPlantAndEquipmentNet</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IntangibleAssetsNetExcludingGoodwill', window );">Trademarks, licenses and other intangible assets, net</a></td>
        <td class="nump"><a title="us-gaap_IntangibleAssetsNetExcludingGoodwill" onclick="toggleNextSibling(this);">88,012</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_IntangibleAssetsNetExcludingGoodwill</span><span></span></td>
        <td class="nump"><a title="us-gaap_IntangibleAssetsNetExcludingGoodwill" onclick="toggleNextSibling(this);">98,531</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_IntangibleAssetsNetExcludingGoodwill</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAssetsNoncurrent', window );">Other assets</a></td>
        <td class="nump"><a title="us-gaap_OtherAssetsNoncurrent" onclick="toggleNextSibling(this);">9,953</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_OtherAssetsNoncurrent</span><span></span></td>
        <td class="nump"><a title="us-gaap_OtherAssetsNoncurrent" onclick="toggleNextSibling(this);">10,225</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_OtherAssetsNoncurrent</span><span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">Total assets</a></td>
        <td class="nump"><a title="us-gaap_Assets" onclick="toggleNextSibling(this);">563,763</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_Assets</span><span></span></td>
        <td class="nump"><a title="us-gaap_Assets" onclick="toggleNextSibling(this);">604,506</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_Assets</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrentAbstract', window );"><strong>Current liabilities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LoansPayableToBankCurrent', window );">Loans payable - banks</a></td>
        <td class="nump"><a title="us-gaap_LoansPayableToBankCurrent" onclick="toggleNextSibling(this);">425</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_LoansPayableToBankCurrent</span><span></span></td>
        <td class="nump"><a title="us-gaap_LoansPayableToBankCurrent" onclick="toggleNextSibling(this);">298</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_LoansPayableToBankCurrent</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableCurrent', window );">Accounts payable - trade</a></td>
        <td class="nump"><a title="us-gaap_AccountsPayableCurrent" onclick="toggleNextSibling(this);">53,373</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_AccountsPayableCurrent</span><span></span></td>
        <td class="nump"><a title="us-gaap_AccountsPayableCurrent" onclick="toggleNextSibling(this);">46,646</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_AccountsPayableCurrent</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccruedLiabilitiesCurrent', window );">Accrued expenses</a></td>
        <td class="nump"><a title="us-gaap_AccruedLiabilitiesCurrent" onclick="toggleNextSibling(this);">38,678</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_AccruedLiabilitiesCurrent</span><span></span></td>
        <td class="nump"><a title="us-gaap_AccruedLiabilitiesCurrent" onclick="toggleNextSibling(this);">49,194</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_AccruedLiabilitiesCurrent</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccruedIncomeTaxesCurrent', window );">Income taxes payable</a></td>
        <td class="nump"><a title="us-gaap_AccruedIncomeTaxesCurrent" onclick="toggleNextSibling(this);">5,466</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_AccruedIncomeTaxesCurrent</span><span></span></td>
        <td class="nump"><a title="us-gaap_AccruedIncomeTaxesCurrent" onclick="toggleNextSibling(this);">3,773</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_AccruedIncomeTaxesCurrent</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DividendsPayableCurrent', window );">Dividends payable</a></td>
        <td class="nump"><a title="us-gaap_DividendsPayableCurrent" onclick="toggleNextSibling(this);">4,028</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_DividendsPayableCurrent</span><span></span></td>
        <td class="nump"><a title="us-gaap_DividendsPayableCurrent" onclick="toggleNextSibling(this);">3,717</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_DividendsPayableCurrent</span><span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrent', window );">Total current liabilities</a></td>
        <td class="nump"><a title="us-gaap_LiabilitiesCurrent" onclick="toggleNextSibling(this);">101,970</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_LiabilitiesCurrent</span><span></span></td>
        <td class="nump"><a title="us-gaap_LiabilitiesCurrent" onclick="toggleNextSibling(this);">103,628</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_LiabilitiesCurrent</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxLiabilitiesNoncurrent', window );">Deferred tax liability</a></td>
        <td class="nump"><a title="us-gaap_DeferredTaxLiabilitiesNoncurrent" onclick="toggleNextSibling(this);">1,894</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_DeferredTaxLiabilitiesNoncurrent</span><span></span></td>
        <td class="nump"><a title="us-gaap_DeferredTaxLiabilitiesNoncurrent" onclick="toggleNextSibling(this);">2,154</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_DeferredTaxLiabilitiesNoncurrent</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityAbstract', window );"><strong>Inter Parfums, Inc. shareholders' equity:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockValue', window );">Preferred stock, $.001 par; authorized 1,000,000 shares; none issued</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockValue', window );">Common stock, $.001 par; authorized 100,000,000 shares; outstanding 30,982,101 and 30,977,293 shares at March 31, 2015 and December 31, 2014, respectively</a></td>
        <td class="nump"><a title="us-gaap_CommonStockValue" onclick="toggleNextSibling(this);">31</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_CommonStockValue</span><span></span></td>
        <td class="nump"><a title="us-gaap_CommonStockValue" onclick="toggleNextSibling(this);">31</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_CommonStockValue</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdditionalPaidInCapital', window );">Additional paid-in capital</a></td>
        <td class="nump"><a title="us-gaap_AdditionalPaidInCapital" onclick="toggleNextSibling(this);">60,470</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_AdditionalPaidInCapital</span><span></span></td>
        <td class="nump"><a title="us-gaap_AdditionalPaidInCapital" onclick="toggleNextSibling(this);">60,200</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_AdditionalPaidInCapital</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RetainedEarningsAccumulatedDeficit', window );">Retained earnings</a></td>
        <td class="nump"><a title="us-gaap_RetainedEarningsAccumulatedDeficit" onclick="toggleNextSibling(this);">380,100</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_RetainedEarningsAccumulatedDeficit</span><span></span></td>
        <td class="nump"><a title="us-gaap_RetainedEarningsAccumulatedDeficit" onclick="toggleNextSibling(this);">374,121</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_RetainedEarningsAccumulatedDeficit</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax', window );">Accumulated other comprehensive income (loss)</a></td>
        <td class="num"><a title="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" onclick="toggleNextSibling(this);">(51,059)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax</span><span></span></td>
        <td class="num"><a title="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" onclick="toggleNextSibling(this);">(15,823)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockValue', window );">Treasury stock, at cost, 9,897,995 shares at March 31, 2015 and December 31, 2014, respectively</a></td>
        <td class="num"><a title="us-gaap_TreasuryStockValue" onclick="toggleNextSibling(this);">(36,464)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_TreasuryStockValue</span><span></span></td>
        <td class="num"><a title="us-gaap_TreasuryStockValue" onclick="toggleNextSibling(this);">(36,464)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_TreasuryStockValue</span><span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Total Inter Parfums, Inc. shareholders' equity</a></td>
        <td class="nump"><a title="us-gaap_StockholdersEquity" onclick="toggleNextSibling(this);">353,078</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_StockholdersEquity</span><span></span></td>
        <td class="nump"><a title="us-gaap_StockholdersEquity" onclick="toggleNextSibling(this);">382,065</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_StockholdersEquity</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MinorityInterest', window );">Noncontrolling interest</a></td>
        <td class="nump"><a title="us-gaap_MinorityInterest" onclick="toggleNextSibling(this);">106,821</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_MinorityInterest</span><span></span></td>
        <td class="nump"><a title="us-gaap_MinorityInterest" onclick="toggleNextSibling(this);">116,659</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_MinorityInterest</span><span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Total equity</a></td>
        <td class="nump"><a title="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" onclick="toggleNextSibling(this);">459,899</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest</span><span></span></td>
        <td class="nump"><a title="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" onclick="toggleNextSibling(this);">498,724</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest</span><span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquity', window );">Total liabilities and equity</a></td>
        <td class="nump"><a title="us-gaap_LiabilitiesAndStockholdersEquity" onclick="toggleNextSibling(this);">$ 563,763</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_LiabilitiesAndStockholdersEquity</span><span></span></td>
        <td class="nump"><a title="us-gaap_LiabilitiesAndStockholdersEquity" onclick="toggleNextSibling(this);">$ 604,506</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_LiabilitiesAndStockholdersEquity</span><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsPayableCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 19<br><br><br><br> -Subparagraph a<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19(a))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_AccountsPayableCurrent</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsReceivableNetCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.3-4)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 3<br><br><br><br> -Subparagraph a(1)<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 4<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_AccountsReceivableNetCurrent</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccruedIncomeTaxesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying amount as of the balance sheet date of the unpaid sum of the known and estimated amounts payable to satisfy all currently due domestic and foreign income tax obligations.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 20<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 15<br><br><br><br> -Article 9<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 15<br><br><br><br> -Subparagraph b(1)<br><br><br><br> -Article 7<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_AccruedIncomeTaxesCurrent</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccruedLiabilitiesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 20<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_AccruedLiabilitiesCurrent</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 220<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 11<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e637-108580<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 220<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 14<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e681-108580<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 220<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 14A<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669686-108580<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 31<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Article 3<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdditionalPaidInCapital">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 31<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.30(a)(1))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_AdditionalPaidInCapital</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Assets">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.18)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 12<br><br><br><br> -Article 7<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 18<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_Assets</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.9)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6801-107765<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 9<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_AssetsCurrent</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrentAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_AssetsCurrentAbstract</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Cash<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Cash Equivalents<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 1<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br><br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3044-108585<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 30<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_CommonStockValue</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsLiabilitiesNetCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards, net of deferred tax liability attributable to taxable temporary differences expected to be realized or consumed within one year or operating cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31917-109318<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 6<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31931-109318<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsLiabilitiesNetCurrent</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxLiabilitiesNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of deferred tax liability attributable to taxable temporary differences, net of deferred tax asset attributable to deductible temporary differences and carryforwards net of valuation allowances expected to be realized or consumed after one year (or the normal operating cycle, if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31917-109318<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 6<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31931-109318<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 9<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31958-109318<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_DeferredTaxLiabilitiesNoncurrent</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DividendsPayableCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying value as of the balance sheet date of dividends declared but unpaid on equity securities issued by the entity and outstanding. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 20<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Current Liabilities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6509677<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 8<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6935-107765<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_DividendsPayableCurrent</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxReceivable">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying amount as of the balance sheet date of income taxes previously overpaid to tax authorities (such as U.S. Federal, state and local tax authorities) representing refunds of overpayments or recoveries based on agreed-upon resolutions of disputes. Also called income tax refund receivable.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.8)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 8<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 5<br><br><br><br> -Subparagraph c<br><br><br><br> -Article 7<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_IncomeTaxReceivable</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IntangibleAssetsNetExcludingGoodwill">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 350<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6388964&amp;loc=d3e16212-109274<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 350<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph ((a)(1),(b))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_IntangibleAssetsNetExcludingGoodwill</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryNet">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.6(a))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 330<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 35<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6386567&amp;loc=d3e3927-108312<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_InventoryNet</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesAndStockholdersEquity">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.32)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 25<br><br><br><br> -Article 7<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 32<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_LiabilitiesAndStockholdersEquity</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.21)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 21<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_LiabilitiesCurrent</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrentAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_LiabilitiesCurrentAbstract</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LoansPayableToBankCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying value as of the balance sheet date of current portion of long-term loans payable to bank due within one year or the operating cycle if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 19, 20<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_LoansPayableToBankCurrent</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MinorityInterest">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.31)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 27<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 20<br><br><br><br> -Article 7<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_MinorityInterest</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAssetsCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate carrying amount, as of the balance sheet date, of current assets not separately disclosed in the balance sheet. Current assets are expected to be realized or consumed within one year (or the normal operating cycle, if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.8)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 8<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_OtherAssetsCurrent</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAssetsNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.17)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 17<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_OtherAssetsNoncurrent</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherReceivablesNetCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The carrying amount of other receivables, net, due within one year of the balance sheet date (or one operating cycle, if longer) from third parties or arising from transactions not separately disclosed.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_OtherReceivablesNetCurrent</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Article 3<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.3-04)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.28)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_PreferredStockValue</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentNet">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 360<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.13)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 13<br><br><br><br> -Subparagraph a<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 8<br><br><br><br> -Article 7<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentNet</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RetainedEarningsAccumulatedDeficit">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cumulative amount of the reporting entity's undistributed earnings or deficit.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 31<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Article 3<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.31(a)(3))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_RetainedEarningsAccumulatedDeficit</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShortTermInvestments">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Investments which are intended to be sold in the short term (usually less than one year or the normal operating cycle, whichever is longer) including trading securities, available-for-sale securities, held-to-maturity securities, and other short-term investments not otherwise listed in the existing taxonomy.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.2)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph g<br><br><br><br> -Article 7<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_ShortTermInvestments</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquity">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 310<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SAB TOPIC 4.E)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Staff Accounting Bulletin (SAB)<br><br><br><br> -Number Topic 4<br><br><br><br> -Section E<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29-31)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29, 30, 31<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_StockholdersEquity</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_StockholdersEquityAbstract</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 810<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 15<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4568447-111683<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 810<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 16<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4568740-111683<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 810<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 55<br><br><br><br> -Paragraph 4I<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4590271-111686<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TreasuryStockValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount allocated to treasury stock. Treasury stock is common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6405834&amp;loc=d3e23315-112656<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_TreasuryStockValue</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0E1XAI">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (USD $)<br>In Thousands</strong></div>
        </th>
        <th class="th">
          <div>Total</div>
        </th>
        <th class="th">
          <div>Common stock [Member]</div>
        </th>
        <th class="th">
          <div>Additional paid-in capital [Member]</div>
        </th>
        <th class="th">
          <div>Retained earnings [Member]</div>
        </th>
        <th class="th">
          <div>Accumulated other comprehensive income (loss) [Member]</div>
        </th>
        <th class="th">
          <div>Treasury stock [Member]</div>
        </th>
        <th class="th">
          <div>Noncontrolling interest [Member]</div>
        </th>
      </tr>
      <tr class="rc">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance at Dec. 31, 2013</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump"><a title="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest[us-gaap_StatementEquityComponentsAxis=us-gaap_CommonStockMember]" onclick="toggleNextSibling(this);">$ 31</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_CommonStockMember</span><span></span></td>
        <td class="nump"><a title="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest[us-gaap_StatementEquityComponentsAxis=us-gaap_AdditionalPaidInCapitalMember]" onclick="toggleNextSibling(this);">$ 57,877</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_AdditionalPaidInCapitalMember</span><span></span></td>
        <td class="nump"><a title="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest[us-gaap_StatementEquityComponentsAxis=us-gaap_RetainedEarningsMember]" onclick="toggleNextSibling(this);">$ 359,459</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_RetainedEarningsMember</span><span></span></td>
        <td class="nump"><a title="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest[us-gaap_StatementEquityComponentsAxis=us-gaap_AccumulatedOtherComprehensiveIncomeMember]" onclick="toggleNextSibling(this);">$ 25,860</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_AccumulatedOtherComprehensiveIncomeMember</span><span></span></td>
        <td class="num"><a title="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest[us-gaap_StatementEquityComponentsAxis=us-gaap_TreasuryStockMember]" onclick="toggleNextSibling(this);">$ (36,016)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_TreasuryStockMember</span><span></span></td>
        <td class="nump"><a title="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest[us-gaap_StatementEquityComponentsAxis=us-gaap_NoncontrollingInterestMember]" onclick="toggleNextSibling(this);">$ 128,145</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_NoncontrollingInterestMember</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net income</a></td>
        <td class="nump"><a title="us-gaap_ProfitLoss" onclick="toggleNextSibling(this);">12,150</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ProfitLoss</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump"><a title="us-gaap_ProfitLoss[us-gaap_StatementEquityComponentsAxis=us-gaap_RetainedEarningsMember]" onclick="toggleNextSibling(this);">8,894</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ProfitLoss<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_RetainedEarningsMember</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump"><a title="us-gaap_ProfitLoss[us-gaap_StatementEquityComponentsAxis=us-gaap_NoncontrollingInterestMember]" onclick="toggleNextSibling(this);">3,256</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ProfitLoss<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_NoncontrollingInterestMember</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax', window );">Foreign currency translation adjustment</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num"><a title="us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax[us-gaap_StatementEquityComponentsAxis=us-gaap_AccumulatedOtherComprehensiveIncomeMember]" onclick="toggleNextSibling(this);">(919)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_AccumulatedOtherComprehensiveIncomeMember</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num"><a title="us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax[us-gaap_StatementEquityComponentsAxis=us-gaap_NoncontrollingInterestMember]" onclick="toggleNextSibling(this);">(478)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_NoncontrollingInterestMember</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax', window );">Net derivative instrument loss, net of tax</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised', window );">Shares issued upon exercise of stock options</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump"><a title="us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised[us-gaap_StatementEquityComponentsAxis=us-gaap_AdditionalPaidInCapitalMember]" onclick="toggleNextSibling(this);">908</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_AdditionalPaidInCapitalMember</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump"><a title="us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised[us-gaap_StatementEquityComponentsAxis=us-gaap_TreasuryStockMember]" onclick="toggleNextSibling(this);">101</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_TreasuryStockMember</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ipar_StockReceivedDuringPeriodValueStockOptionsExercised', window );">Shares received as proceeds of option exercises</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num"><a title="ipar_StockReceivedDuringPeriodValueStockOptionsExercised[us-gaap_StatementEquityComponentsAxis=us-gaap_TreasuryStockMember]" onclick="toggleNextSibling(this);">(351)</a><span style="display:none;white-space:normal;text-align:left;">ipar_StockReceivedDuringPeriodValueStockOptionsExercised<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_TreasuryStockMember</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance', window );">Sale of subsidiary shares to noncontrolling interest</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num"><a title="us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance[us-gaap_StatementEquityComponentsAxis=us-gaap_AdditionalPaidInCapitalMember]" onclick="toggleNextSibling(this);">(319)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_AdditionalPaidInCapitalMember</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump"><a title="us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance[us-gaap_StatementEquityComponentsAxis=us-gaap_NoncontrollingInterestMember]" onclick="toggleNextSibling(this);">1,309</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_NoncontrollingInterestMember</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DividendsCash', window );">Dividends</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num"><a title="us-gaap_DividendsCash[us-gaap_StatementEquityComponentsAxis=us-gaap_RetainedEarningsMember]" onclick="toggleNextSibling(this);">(3,712)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_DividendsCash<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_RetainedEarningsMember</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation', window );">Stock-based compensation</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump"><a title="us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation[us-gaap_StatementEquityComponentsAxis=us-gaap_AdditionalPaidInCapitalMember]" onclick="toggleNextSibling(this);">168</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_AdditionalPaidInCapitalMember</span><span></span></td>
        <td class="nump"><a title="us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation[us-gaap_StatementEquityComponentsAxis=us-gaap_RetainedEarningsMember]" onclick="toggleNextSibling(this);">29</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_RetainedEarningsMember</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump"><a title="us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation[us-gaap_StatementEquityComponentsAxis=us-gaap_NoncontrollingInterestMember]" onclick="toggleNextSibling(this);">10</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_NoncontrollingInterestMember</span><span></span></td>
      </tr>
      <tr class="rc">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance at Mar. 31, 2014</a></td>
        <td class="nump"><a title="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" onclick="toggleNextSibling(this);">544,252</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest</span><span></span></td>
        <td class="nump"><a title="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest[us-gaap_StatementEquityComponentsAxis=us-gaap_CommonStockMember]" onclick="toggleNextSibling(this);">31</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_CommonStockMember</span><span></span></td>
        <td class="nump"><a title="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest[us-gaap_StatementEquityComponentsAxis=us-gaap_AdditionalPaidInCapitalMember]" onclick="toggleNextSibling(this);">58,634</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_AdditionalPaidInCapitalMember</span><span></span></td>
        <td class="nump"><a title="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest[us-gaap_StatementEquityComponentsAxis=us-gaap_RetainedEarningsMember]" onclick="toggleNextSibling(this);">364,670</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_RetainedEarningsMember</span><span></span></td>
        <td class="nump"><a title="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest[us-gaap_StatementEquityComponentsAxis=us-gaap_AccumulatedOtherComprehensiveIncomeMember]" onclick="toggleNextSibling(this);">24,941</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_AccumulatedOtherComprehensiveIncomeMember</span><span></span></td>
        <td class="num"><a title="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest[us-gaap_StatementEquityComponentsAxis=us-gaap_TreasuryStockMember]" onclick="toggleNextSibling(this);">(36,266)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_TreasuryStockMember</span><span></span></td>
        <td class="nump"><a title="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest[us-gaap_StatementEquityComponentsAxis=us-gaap_NoncontrollingInterestMember]" onclick="toggleNextSibling(this);">132,242</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_NoncontrollingInterestMember</span><span></span></td>
      </tr>
      <tr class="rc">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance at Dec. 31, 2014</a></td>
        <td class="nump"><a title="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" onclick="toggleNextSibling(this);">498,724</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest</span><span></span></td>
        <td class="nump"><a title="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest[us-gaap_StatementEquityComponentsAxis=us-gaap_CommonStockMember]" onclick="toggleNextSibling(this);">31</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_CommonStockMember</span><span></span></td>
        <td class="nump"><a title="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest[us-gaap_StatementEquityComponentsAxis=us-gaap_AdditionalPaidInCapitalMember]" onclick="toggleNextSibling(this);">60,200</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_AdditionalPaidInCapitalMember</span><span></span></td>
        <td class="nump"><a title="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest[us-gaap_StatementEquityComponentsAxis=us-gaap_RetainedEarningsMember]" onclick="toggleNextSibling(this);">374,121</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_RetainedEarningsMember</span><span></span></td>
        <td class="num"><a title="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest[us-gaap_StatementEquityComponentsAxis=us-gaap_AccumulatedOtherComprehensiveIncomeMember]" onclick="toggleNextSibling(this);">(15,823)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_AccumulatedOtherComprehensiveIncomeMember</span><span></span></td>
        <td class="num"><a title="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest[us-gaap_StatementEquityComponentsAxis=us-gaap_TreasuryStockMember]" onclick="toggleNextSibling(this);">(36,464)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_TreasuryStockMember</span><span></span></td>
        <td class="nump"><a title="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest[us-gaap_StatementEquityComponentsAxis=us-gaap_NoncontrollingInterestMember]" onclick="toggleNextSibling(this);">116,659</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_NoncontrollingInterestMember</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net income</a></td>
        <td class="nump"><a title="us-gaap_ProfitLoss" onclick="toggleNextSibling(this);">13,305</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ProfitLoss</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump"><a title="us-gaap_ProfitLoss[us-gaap_StatementEquityComponentsAxis=us-gaap_RetainedEarningsMember]" onclick="toggleNextSibling(this);">10,007</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ProfitLoss<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_RetainedEarningsMember</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump"><a title="us-gaap_ProfitLoss[us-gaap_StatementEquityComponentsAxis=us-gaap_NoncontrollingInterestMember]" onclick="toggleNextSibling(this);">3,298</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ProfitLoss<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_NoncontrollingInterestMember</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax', window );">Foreign currency translation adjustment</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num"><a title="us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax[us-gaap_StatementEquityComponentsAxis=us-gaap_AccumulatedOtherComprehensiveIncomeMember]" onclick="toggleNextSibling(this);">(34,793)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_AccumulatedOtherComprehensiveIncomeMember</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num"><a title="us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax[us-gaap_StatementEquityComponentsAxis=us-gaap_NoncontrollingInterestMember]" onclick="toggleNextSibling(this);">(13,075)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_NoncontrollingInterestMember</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax', window );">Net derivative instrument loss, net of tax</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num"><a title="us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax[us-gaap_StatementEquityComponentsAxis=us-gaap_AccumulatedOtherComprehensiveIncomeMember]" onclick="toggleNextSibling(this);">(443)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_AccumulatedOtherComprehensiveIncomeMember</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num"><a title="us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax[us-gaap_StatementEquityComponentsAxis=us-gaap_NoncontrollingInterestMember]" onclick="toggleNextSibling(this);">(165)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_NoncontrollingInterestMember</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised', window );">Shares issued upon exercise of stock options</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump"><a title="us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised[us-gaap_StatementEquityComponentsAxis=us-gaap_AdditionalPaidInCapitalMember]" onclick="toggleNextSibling(this);">82</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_AdditionalPaidInCapitalMember</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ipar_StockReceivedDuringPeriodValueStockOptionsExercised', window );">Shares received as proceeds of option exercises</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance', window );">Sale of subsidiary shares to noncontrolling interest</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num"><a title="us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance[us-gaap_StatementEquityComponentsAxis=us-gaap_AdditionalPaidInCapitalMember]" onclick="toggleNextSibling(this);">(6)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_AdditionalPaidInCapitalMember</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump"><a title="us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance[us-gaap_StatementEquityComponentsAxis=us-gaap_NoncontrollingInterestMember]" onclick="toggleNextSibling(this);">104</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_NoncontrollingInterestMember</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DividendsCash', window );">Dividends</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num"><a title="us-gaap_DividendsCash[us-gaap_StatementEquityComponentsAxis=us-gaap_RetainedEarningsMember]" onclick="toggleNextSibling(this);">(4,028)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_DividendsCash<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_RetainedEarningsMember</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation', window );">Stock-based compensation</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump"><a title="us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation[us-gaap_StatementEquityComponentsAxis=us-gaap_AdditionalPaidInCapitalMember]" onclick="toggleNextSibling(this);">194</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_AdditionalPaidInCapitalMember</span><span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="rc">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance at Mar. 31, 2015</a></td>
        <td class="nump"><a title="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" onclick="toggleNextSibling(this);">$ 459,899</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest</span><span></span></td>
        <td class="nump"><a title="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest[us-gaap_StatementEquityComponentsAxis=us-gaap_CommonStockMember]" onclick="toggleNextSibling(this);">$ 31</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_CommonStockMember</span><span></span></td>
        <td class="nump"><a title="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest[us-gaap_StatementEquityComponentsAxis=us-gaap_AdditionalPaidInCapitalMember]" onclick="toggleNextSibling(this);">$ 60,470</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_AdditionalPaidInCapitalMember</span><span></span></td>
        <td class="nump"><a title="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest[us-gaap_StatementEquityComponentsAxis=us-gaap_RetainedEarningsMember]" onclick="toggleNextSibling(this);">$ 380,100</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_RetainedEarningsMember</span><span></span></td>
        <td class="num"><a title="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest[us-gaap_StatementEquityComponentsAxis=us-gaap_AccumulatedOtherComprehensiveIncomeMember]" onclick="toggleNextSibling(this);">$ (51,059)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_AccumulatedOtherComprehensiveIncomeMember</span><span></span></td>
        <td class="num"><a title="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest[us-gaap_StatementEquityComponentsAxis=us-gaap_TreasuryStockMember]" onclick="toggleNextSibling(this);">$ (36,464)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_TreasuryStockMember</span><span></span></td>
        <td class="nump"><a title="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest[us-gaap_StatementEquityComponentsAxis=us-gaap_NoncontrollingInterestMember]" onclick="toggleNextSibling(this);">$ 106,821</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest<br>/ us-gaap_StatementEquityComponentsAxis<br>= us-gaap_NoncontrollingInterestMember</span><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ipar_StockReceivedDuringPeriodValueStockOptionsExercised">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Value of stock received as proceeds of the exercise of stock options.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">ipar_StockReceivedDuringPeriodValueStockOptionsExercised</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>ipar_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DividendsCash">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of paid and unpaid cash dividends declared for classes of stock, for example, but not limited to, common and preferred.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 405<br><br> -Section 45<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6957935&amp;loc=d3e64057-112817<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_DividendsCash</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of increase in noncontrolling interest from subsidiary issuance of equity interests to noncontrolling interest holders.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount after tax and reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 10A<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669646-108580<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 830<br><br> -SubTopic 30<br><br> -Section 45<br><br> -Paragraph 20<br><br> -Subparagraph (b,c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6915805&amp;loc=d3e32211-110900<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount after tax of increase (decrease) in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 11<br><br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e637-108580<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 10A<br><br> -Subparagraph (d)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669646-108580<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 815<br><br> -SubTopic 30<br><br> -Section 45<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6441202&amp;loc=d3e80720-113993<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 815<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4C<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=35706170&amp;loc=SL5624171-113959<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProfitLoss">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4K<br><br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4591552-111686<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 19<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4569616-111683<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1A<br><br> -Subparagraph (a),(c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4J<br><br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4591551-111686<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_ProfitLoss</td>
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                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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        </tr>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 15<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4568447-111683<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 16<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4568740-111683<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4I<br><br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4590271-111686<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest</td>
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                    <td><strong> Balance Type:</strong></td>
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                    <td>instant</td>
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                <p>Value of stock (or other type of equity) issued during the period as a result of any equity-based compensation plan other than an employee stock ownership plan (ESOP), net of stock value of such awards forfeited. Stock issued could result from the issuance of restricted stock, the exercise of stock options, stock issued under employee stock purchase plans, and/or other employee benefit plans.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (d)(1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30, 31<br><br> -Article 5<br><br><br><br></p>
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                <table border="0" cellpadding="0" cellspacing="0">
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                    <td><strong> Name:</strong></td>
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                <p>Value of stock issued as a result of the exercise of stock options.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29-31)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30, 31<br><br> -Article 5<br><br><br><br></p>
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          <div style="width: 200px;"><strong>Segments and Geographic Areas (Tables)<br></strong></div>
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        <th class="th" colspan="1">3 Months Ended</th>
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          <div>Mar. 31, 2015</div>
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<td style="font-family: 'Times New Roman'; text-align: center; background-color: #ffffff;" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(38</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">109,249</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">121,730</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: left;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: left;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net&#160;income&#160;attributable&#160;to&#160;Inter&#160;Parfums,&#160;Inc.:</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; text-indent: 10px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">United States</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,109</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(67</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; padding: 0px; text-indent: 10px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Europe</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">8,898</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">8,961</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="font-family: 'times new roman'; padding: 0px; text-indent: 10px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Eliminations</font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">10,007</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">8,894</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>

</table>
</div>
</div>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>
<div style="display: block;">
<div style="margin-left: 0.5in;">
<div class="CursorPointer">
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 88%; margin-left: 0.1px;">

<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; background-color: #ffffff;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">March&#160;31,</font>&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">March&#160;31,</font></font></td>
<td style="font-family: 'times new roman'; text-align: left; padding: 0px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; background-color: #ffffff;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">2015</font></td>
<td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">2014</font></td>
<td style="font-family: 'times new roman'; text-align: left; padding: 0px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total Assets:</font></td>
<td style="font-family: 'times new roman'; padding: 0px;"></td>
<td style="font-family: 'times new roman'; text-align: left; padding: 0px;"></td>
<td style="font-family: 'times new roman'; text-align: right; padding: 0px;"></td>
<td style="font-family: 'times new roman'; text-align: left; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; text-align: left; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; text-align: right; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; text-align: left; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; text-indent: 10px; width: 70%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">United States</font></td>
<td style="font-family: 'times new roman'; padding: 0px; width: 1%;"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">75,648</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">71,014</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; padding: 0px; text-indent: 10px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Europe</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">497,294</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">589,481</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px; text-indent: 10px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Eliminations of investment in subsidiary</font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(9,179</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(9,217</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td>
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<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">563,763</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">651,278</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 21<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e8721-108599<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 25<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e8813-108599<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 350<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=35741047&amp;loc=d3e13816-109267<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 30<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e8906-108599<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 22<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e8736-108599<br><br><br><br></p>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0E6CAC">
      <tr>
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          <div style="width: 200px;"><strong>Inventories (Details) (USD $)<br>In Thousands, unless otherwise specified</strong></div>
        </th>
        <th class="th">
          <div>Mar. 31, 2015</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2014</div>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryRawMaterials', window );">Raw materials and component parts</a></td>
        <td class="nump"><a title="us-gaap_InventoryRawMaterials" onclick="toggleNextSibling(this);">$ 31,282</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_InventoryRawMaterials</span><span></span></td>
        <td class="nump"><a title="us-gaap_InventoryRawMaterials" onclick="toggleNextSibling(this);">$ 36,383</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_InventoryRawMaterials</span><span></span></td>
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        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryFinishedGoods', window );">Finished goods</a></td>
        <td class="nump"><a title="us-gaap_InventoryFinishedGoods" onclick="toggleNextSibling(this);">73,272</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_InventoryFinishedGoods</span><span></span></td>
        <td class="nump"><a title="us-gaap_InventoryFinishedGoods" onclick="toggleNextSibling(this);">65,943</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_InventoryFinishedGoods</span><span></span></td>
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        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryNet', window );">Inventories</a></td>
        <td class="nump"><a title="us-gaap_InventoryNet" onclick="toggleNextSibling(this);">$ 104,554</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_InventoryNet</span><span></span></td>
        <td class="nump"><a title="us-gaap_InventoryNet" onclick="toggleNextSibling(this);">$ 102,326</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_InventoryNet</span><span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount before valuation and LIFO reserves of completed merchandise or goods expected to be sold within one year or operating cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 6<br><br> -Subparagraph a<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.6(a)(1))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
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                <p>Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.6(a))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 330<br><br> -SubTopic 10<br><br> -Section 35<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6386567&amp;loc=d3e3927-108312<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 1<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br></p>
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                <p>Amount before valuation and LIFO reserves of raw materials expected to be sold, or consumed within one year or operating cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>31
<FILENAME>R7.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EAPAG">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)<br>In Thousands, unless otherwise specified</strong></div>
        </th>
        <th class="th" colspan="2">3 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2015</div>
        </th>
        <th class="th">
          <div>Mar. 31, 2014</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Cash flows from operating activities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net income</a></td>
        <td class="nump"><a title="us-gaap_ProfitLoss" onclick="toggleNextSibling(this);">$ 13,305</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ProfitLoss</span><span></span></td>
        <td class="nump"><a title="us-gaap_ProfitLoss" onclick="toggleNextSibling(this);">$ 12,150</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ProfitLoss</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Adjustments to reconcile net income to net cash used in operating activities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationAndAmortization', window );">Depreciation and amortization</a></td>
        <td class="nump"><a title="us-gaap_DepreciationAndAmortization" onclick="toggleNextSibling(this);">2,228</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_DepreciationAndAmortization</span><span></span></td>
        <td class="nump"><a title="us-gaap_DepreciationAndAmortization" onclick="toggleNextSibling(this);">2,545</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_DepreciationAndAmortization</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProvisionForDoubtfulAccounts', window );">Provision for doubtful accounts</a></td>
        <td class="nump"><a title="us-gaap_ProvisionForDoubtfulAccounts" onclick="toggleNextSibling(this);">47</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ProvisionForDoubtfulAccounts</span><span></span></td>
        <td class="nump"><a title="us-gaap_ProvisionForDoubtfulAccounts" onclick="toggleNextSibling(this);">8</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ProvisionForDoubtfulAccounts</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Noncash stock compensation</a></td>
        <td class="nump"><a title="us-gaap_ShareBasedCompensation" onclick="toggleNextSibling(this);">194</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ShareBasedCompensation</span><span></span></td>
        <td class="nump"><a title="us-gaap_ShareBasedCompensation" onclick="toggleNextSibling(this);">230</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ShareBasedCompensation</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredIncomeTaxExpenseBenefit', window );">Deferred tax expense (benefit)</a></td>
        <td class="num"><a title="us-gaap_DeferredIncomeTaxExpenseBenefit" onclick="toggleNextSibling(this);">(503)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_DeferredIncomeTaxExpenseBenefit</span><span></span></td>
        <td class="nump"><a title="us-gaap_DeferredIncomeTaxExpenseBenefit" onclick="toggleNextSibling(this);">447</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_DeferredIncomeTaxExpenseBenefit</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract', window );"><strong>Changes in:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsReceivable', window );">Accounts receivable</a></td>
        <td class="num"><a title="us-gaap_IncreaseDecreaseInAccountsReceivable" onclick="toggleNextSibling(this);">(14,397)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_IncreaseDecreaseInAccountsReceivable</span><span></span></td>
        <td class="num"><a title="us-gaap_IncreaseDecreaseInAccountsReceivable" onclick="toggleNextSibling(this);">(20,927)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_IncreaseDecreaseInAccountsReceivable</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInInventories', window );">Inventories</a></td>
        <td class="num"><a title="us-gaap_IncreaseDecreaseInInventories" onclick="toggleNextSibling(this);">(11,679)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_IncreaseDecreaseInInventories</span><span></span></td>
        <td class="num"><a title="us-gaap_IncreaseDecreaseInInventories" onclick="toggleNextSibling(this);">(850)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_IncreaseDecreaseInInventories</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOtherOperatingAssets', window );">Other assets</a></td>
        <td class="num"><a title="us-gaap_IncreaseDecreaseInOtherOperatingAssets" onclick="toggleNextSibling(this);">(1,564)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_IncreaseDecreaseInOtherOperatingAssets</span><span></span></td>
        <td class="num"><a title="us-gaap_IncreaseDecreaseInOtherOperatingAssets" onclick="toggleNextSibling(this);">(1,821)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_IncreaseDecreaseInOtherOperatingAssets</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities', window );">Accounts payable and accrued expenses</a></td>
        <td class="nump"><a title="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" onclick="toggleNextSibling(this);">8,480</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities</span><span></span></td>
        <td class="num"><a title="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" onclick="toggleNextSibling(this);">(17,616)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccruedTaxesPayable', window );">Income taxes, net</a></td>
        <td class="nump"><a title="us-gaap_IncreaseDecreaseInAccruedTaxesPayable" onclick="toggleNextSibling(this);">2,578</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_IncreaseDecreaseInAccruedTaxesPayable</span><span></span></td>
        <td class="num"><a title="us-gaap_IncreaseDecreaseInAccruedTaxesPayable" onclick="toggleNextSibling(this);">(1,425)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_IncreaseDecreaseInAccruedTaxesPayable</span><span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations', window );">Net cash used in operating activities</a></td>
        <td class="num"><a title="us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations" onclick="toggleNextSibling(this);">(1,311)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations</span><span></span></td>
        <td class="num"><a title="us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations" onclick="toggleNextSibling(this);">(27,259)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract', window );"><strong>Cash flows from investing activities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireShortTermInvestments', window );">Purchases of short-term investments</a></td>
        <td class="num"><a title="us-gaap_PaymentsToAcquireShortTermInvestments" onclick="toggleNextSibling(this);">(56,437)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_PaymentsToAcquireShortTermInvestments</span><span></span></td>
        <td class="num"><a title="us-gaap_PaymentsToAcquireShortTermInvestments" onclick="toggleNextSibling(this);">(142,110)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_PaymentsToAcquireShortTermInvestments</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments', window );">Proceeds from sale of short-term investments</a></td>
        <td class="nump"><a title="us-gaap_ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments" onclick="toggleNextSibling(this);">69,593</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments</span><span></span></td>
        <td class="nump"><a title="us-gaap_ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments" onclick="toggleNextSibling(this);">96,146</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment', window );">Purchases of equipment and leasehold improvements</a></td>
        <td class="num"><a title="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" onclick="toggleNextSibling(this);">(687)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_PaymentsToAcquirePropertyPlantAndEquipment</span><span></span></td>
        <td class="num"><a title="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" onclick="toggleNextSibling(this);">(709)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_PaymentsToAcquirePropertyPlantAndEquipment</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireIntangibleAssets', window );">Payment for intangible assets acquired</a></td>
        <td class="num"><a title="us-gaap_PaymentsToAcquireIntangibleAssets" onclick="toggleNextSibling(this);">(774)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_PaymentsToAcquireIntangibleAssets</span><span></span></td>
        <td class="num"><a title="us-gaap_PaymentsToAcquireIntangibleAssets" onclick="toggleNextSibling(this);">(522)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_PaymentsToAcquireIntangibleAssets</span><span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations', window );">Net cash provided by (used in) investing activities</a></td>
        <td class="nump"><a title="us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations" onclick="toggleNextSibling(this);">11,695</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations</span><span></span></td>
        <td class="num"><a title="us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations" onclick="toggleNextSibling(this);">(47,195)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract', window );"><strong>Cash flows from financing activities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromRepaymentsOfDebt', window );">Proceeds from (repayments of) loans payable - banks, net</a></td>
        <td class="nump"><a title="us-gaap_ProceedsFromRepaymentsOfDebt" onclick="toggleNextSibling(this);">168</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ProceedsFromRepaymentsOfDebt</span><span></span></td>
        <td class="num"><a title="us-gaap_ProceedsFromRepaymentsOfDebt" onclick="toggleNextSibling(this);">(2,866)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ProceedsFromRepaymentsOfDebt</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ipar_ProceedsFromStockOptionsAndWarrantsExercised', window );">Proceeds from exercise of options</a></td>
        <td class="nump"><a title="ipar_ProceedsFromStockOptionsAndWarrantsExercised" onclick="toggleNextSibling(this);">82</a><span style="display:none;white-space:normal;text-align:left;">ipar_ProceedsFromStockOptionsAndWarrantsExercised</span><span></span></td>
        <td class="nump"><a title="ipar_ProceedsFromStockOptionsAndWarrantsExercised" onclick="toggleNextSibling(this);">695</a><span style="display:none;white-space:normal;text-align:left;">ipar_ProceedsFromStockOptionsAndWarrantsExercised</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ipar_ProceedsFromSaleOfSubsidiaryStockOwnership', window );">Proceeds from sale of stock of subsidiary</a></td>
        <td class="nump"><a title="ipar_ProceedsFromSaleOfSubsidiaryStockOwnership" onclick="toggleNextSibling(this);">98</a><span style="display:none;white-space:normal;text-align:left;">ipar_ProceedsFromSaleOfSubsidiaryStockOwnership</span><span></span></td>
        <td class="nump"><a title="ipar_ProceedsFromSaleOfSubsidiaryStockOwnership" onclick="toggleNextSibling(this);">990</a><span style="display:none;white-space:normal;text-align:left;">ipar_ProceedsFromSaleOfSubsidiaryStockOwnership</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsOfDividends', window );">Dividends paid</a></td>
        <td class="num"><a title="us-gaap_PaymentsOfDividends" onclick="toggleNextSibling(this);">(3,717)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_PaymentsOfDividends</span><span></span></td>
        <td class="num"><a title="us-gaap_PaymentsOfDividends" onclick="toggleNextSibling(this);">(3,704)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_PaymentsOfDividends</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsForRepurchaseOfCommonStock', window );">Purchase of treasury stock</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="num"><a title="us-gaap_PaymentsForRepurchaseOfCommonStock" onclick="toggleNextSibling(this);">(37)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_PaymentsForRepurchaseOfCommonStock</span><span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations', window );">Net cash used in financing activities</a></td>
        <td class="num"><a title="us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations" onclick="toggleNextSibling(this);">(3,369)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations</span><span></span></td>
        <td class="num"><a title="us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations" onclick="toggleNextSibling(this);">(4,922)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations', window );">Effect of exchange rate changes on cash</a></td>
        <td class="num"><a title="us-gaap_EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations" onclick="toggleNextSibling(this);">(9,911)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations</span><span></span></td>
        <td class="num"><a title="us-gaap_EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations" onclick="toggleNextSibling(this);">(680)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations</span><span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease', window );">Net decrease in cash and cash equivalents</a></td>
        <td class="num"><a title="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" onclick="toggleNextSibling(this);">(2,896)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease</span><span></span></td>
        <td class="num"><a title="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" onclick="toggleNextSibling(this);">(80,056)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents - beginning of period</a></td>
        <td class="nump"><a title="us-gaap_CashAndCashEquivalentsAtCarryingValue" onclick="toggleNextSibling(this);">90,138</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_CashAndCashEquivalentsAtCarryingValue</span><span></span></td>
        <td class="nump"><a title="us-gaap_CashAndCashEquivalentsAtCarryingValue" onclick="toggleNextSibling(this);">125,650</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_CashAndCashEquivalentsAtCarryingValue</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents - end of period</a></td>
        <td class="nump"><a title="us-gaap_CashAndCashEquivalentsAtCarryingValue" onclick="toggleNextSibling(this);">87,242</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_CashAndCashEquivalentsAtCarryingValue</span><span></span></td>
        <td class="nump"><a title="us-gaap_CashAndCashEquivalentsAtCarryingValue" onclick="toggleNextSibling(this);">45,594</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_CashAndCashEquivalentsAtCarryingValue</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ipar_CashPaidForAbstract', window );"><strong>Cash paid for:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestPaid', window );">Interest</a></td>
        <td class="nump"><a title="us-gaap_InterestPaid" onclick="toggleNextSibling(this);">168</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_InterestPaid</span><span></span></td>
        <td class="nump"><a title="us-gaap_InterestPaid" onclick="toggleNextSibling(this);">248</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_InterestPaid</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxesPaid', window );">Income taxes</a></td>
        <td class="nump"><a title="us-gaap_IncomeTaxesPaid" onclick="toggleNextSibling(this);">$ 7,365</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_IncomeTaxesPaid</span><span></span></td>
        <td class="nump"><a title="us-gaap_IncomeTaxesPaid" onclick="toggleNextSibling(this);">$ 5,086</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_IncomeTaxesPaid</span><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ipar_CashPaidForAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">ipar_CashPaidForAbstract</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>ipar_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ipar_ProceedsFromSaleOfSubsidiaryStockOwnership">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Proceeds from the sale of subsidiary's stock during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">ipar_ProceedsFromSaleOfSubsidiaryStockOwnership</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>ipar_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ipar_ProceedsFromStockOptionsAndWarrantsExercised">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Proceeds from stock options and/or warrants exercised during the period, including tax benefits.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">ipar_ProceedsFromStockOptionsAndWarrantsExercised</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>ipar_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Cash<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Cash Equivalents<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 1<br><br> -Article 5<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 1<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3044-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 24<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3521-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 830<br><br> -SubTopic 230<br><br> -Section 45<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450594&amp;loc=d3e33268-110906<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredIncomeTaxExpenseBenefit">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SAB TOPIC 6.I.7)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(h))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph h<br><br> -Article 4<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 6<br><br> -Section I<br><br> -Subsection 7<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Deferred Tax Expense (or Benefit)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6510177<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 9<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_DeferredIncomeTaxExpenseBenefit</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepreciationAndAmortization">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_DepreciationAndAmortization</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The effect of exchange rate changes on cash balances in continuing operations held in foreign currencies.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 24<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3521-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 830<br><br> -SubTopic 230<br><br> -Section 45<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450594&amp;loc=d3e33268-110906<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxesPaid">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4297-108586<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 25<br><br> -Subparagraph (f)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3536-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_IncomeTaxesPaid</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsReceivable">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccountsReceivable</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccruedTaxesPayable">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period of all taxes owed but not paid, including income, property and other taxes.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccruedTaxesPayable</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInInventories">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInInventories</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInOperatingCapitalAbstract</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOtherOperatingAssets">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in other assets used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current assets, other noncurrent assets, or a combination of other current and noncurrent assets.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInOtherOperatingAssets</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestPaid">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of cash paid for interest during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4297-108586<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 25<br><br> -Subparagraph (e)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3536-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_InterestPaid</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 24<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3521-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 26<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3574-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 24<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3521-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 26<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3574-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations</td>
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                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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                    <td><strong> Balance Type:</strong></td>
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                    <td><strong> Period Type:</strong></td>
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              </div>
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          </td>
        </tr>
      </table>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract</td>
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        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 24<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3521-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 25<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3536-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsForRepurchaseOfCommonStock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash outflow to reacquire common stock during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 15<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3291-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_PaymentsForRepurchaseOfCommonStock</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsOfDividends">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Cash outflow in the form of capital distributions and dividends to common shareholders, preferred shareholders and noncontrolling interests.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 15<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3291-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_PaymentsOfDividends</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireIntangibleAssets">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash outflow to acquire asset without physical form usually arising from contractual or other legal rights, excluding goodwill.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Investing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 13<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3213-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_PaymentsToAcquireIntangibleAssets</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Investing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 13<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3213-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_PaymentsToAcquirePropertyPlantAndEquipment</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireShortTermInvestments">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash outflow for securities or other assets acquired, which qualify for treatment as an investing activity and are to be liquidated, if necessary, within the current operating cycle. Includes cash flows from securities classified as trading securities that were acquired for reasons other than sale in the short-term.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Investing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 13<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3213-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_PaymentsToAcquireShortTermInvestments</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromRepaymentsOfDebt">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net cash inflow or outflow in aggregate debt due to repayments and proceeds from additional borrowings.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_ProceedsFromRepaymentsOfDebt</td>
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                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash inflow from sales, maturities, prepayments, calls and collections of all investments, including securities and other assets, having ready marketability and intended by management to be liquidated, if necessary, within the current operating cycle. Includes cash flows from securities classified as trading securities that were acquired for reasons other than sale in the short-term.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 12<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3179-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Investing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProfitLoss">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4K<br><br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4591552-111686<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 19<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4569616-111683<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1A<br><br> -Subparagraph (a),(c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4J<br><br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4591551-111686<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_ProfitLoss</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProvisionForDoubtfulAccounts">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of expense related to write-down of receivables to the amount expected to be collected. Includes, but is not limited to, accounts receivable and notes receivable.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.5)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 5<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_ProvisionForDoubtfulAccounts</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensation">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_ShareBasedCompensation</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
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  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <title></title>
    <link rel="stylesheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0E6LAC">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)<br></strong></div>
        </th>
        <th class="th">
          <div>Mar. 31, 2015</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2014</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementOfFinancialPositionAbstract', window );"><strong>CONSOLIDATED BALANCE SHEETS [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockParOrStatedValuePerShare', window );">Preferred stock, par</a></td>
        <td class="nump"><a title="us-gaap_PreferredStockParOrStatedValuePerShare" onclick="toggleNextSibling(this);">$ 0.001</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_PreferredStockParOrStatedValuePerShare</span><span></span></td>
        <td class="nump"><a title="us-gaap_PreferredStockParOrStatedValuePerShare" onclick="toggleNextSibling(this);">$ 0.001</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_PreferredStockParOrStatedValuePerShare</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesAuthorized', window );">Preferred stock, shares authorized</a></td>
        <td class="nump"><a title="us-gaap_PreferredStockSharesAuthorized" onclick="toggleNextSibling(this);">1,000,000</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_PreferredStockSharesAuthorized</span><span></span></td>
        <td class="nump"><a title="us-gaap_PreferredStockSharesAuthorized" onclick="toggleNextSibling(this);">1,000,000</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_PreferredStockSharesAuthorized</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesIssued', window );">Preferred stock, shares issued</a></td>
        <td class="nump"><a title="us-gaap_PreferredStockSharesIssued" onclick="toggleNextSibling(this);">0</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_PreferredStockSharesIssued</span><span></span></td>
        <td class="nump"><a title="us-gaap_PreferredStockSharesIssued" onclick="toggleNextSibling(this);">0</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_PreferredStockSharesIssued</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockParOrStatedValuePerShare', window );">Common stock, par</a></td>
        <td class="nump"><a title="us-gaap_CommonStockParOrStatedValuePerShare" onclick="toggleNextSibling(this);">$ 0.001</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_CommonStockParOrStatedValuePerShare</span><span></span></td>
        <td class="nump"><a title="us-gaap_CommonStockParOrStatedValuePerShare" onclick="toggleNextSibling(this);">$ 0.001</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_CommonStockParOrStatedValuePerShare</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesAuthorized', window );">Common stock, shares authorized</a></td>
        <td class="nump"><a title="us-gaap_CommonStockSharesAuthorized" onclick="toggleNextSibling(this);">100,000,000</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_CommonStockSharesAuthorized</span><span></span></td>
        <td class="nump"><a title="us-gaap_CommonStockSharesAuthorized" onclick="toggleNextSibling(this);">100,000,000</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_CommonStockSharesAuthorized</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Common stock, shares outstanding</a></td>
        <td class="nump"><a title="us-gaap_CommonStockSharesOutstanding" onclick="toggleNextSibling(this);">30,982,101</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_CommonStockSharesOutstanding</span><span></span></td>
        <td class="nump"><a title="us-gaap_CommonStockSharesOutstanding" onclick="toggleNextSibling(this);">30,977,293</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_CommonStockSharesOutstanding</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockShares', window );">Treasury shares, shares</a></td>
        <td class="nump"><a title="us-gaap_TreasuryStockShares" onclick="toggleNextSibling(this);">9,897,995</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_TreasuryStockShares</span><span></span></td>
        <td class="nump"><a title="us-gaap_TreasuryStockShares" onclick="toggleNextSibling(this);">9,897,995</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_TreasuryStockShares</span><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockParOrStatedValuePerShare">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Face amount or stated value per share of common stock.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_CommonStockParOrStatedValuePerShare</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesAuthorized">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The maximum number of common shares permitted to be issued by an entity's charter and bylaws.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_CommonStockSharesAuthorized</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesOutstanding">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_CommonStockSharesOutstanding</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockParOrStatedValuePerShare">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Face amount or stated value per share of preferred stock nonredeemable or redeemable solely at the option of the issuer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
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                <p>The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29<br><br> -Article 5<br><br><br><br></p>
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                  <tr>
                    <td><strong> Name:</strong></td>
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                <p>Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29<br><br> -Article 5<br><br><br><br></p>
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                <p>Number of common and preferred shares that were previously issued and that were repurchased by the issuing entity and held in treasury on the financial statement date. This stock has no voting rights and receives no dividends.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28,29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30<br><br> -Article 5<br><br><br><br></p>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EME">
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<td style="width: 0.5in; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>10.</b></font></td>
<td style="text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><font style="text-decoration: underline;">Accrued Expenses:</font></b></font></td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>&#160;</b></font></p>
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<td><font style="font-family: 'times new roman', times; font-size: 10pt;">Accrued expenses include approximately $<font>8.4</font> million and $<font>16.5</font> million in advertising liabilities as of March 31, 2015 and December 31, 2014, respectively.</font></td>
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                <p>The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.19(a),20,24)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 19<br><br> -Subparagraph a<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 20, 24<br><br> -Article 5<br><br><br><br></p>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EPCAE">
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        <td class="text">--12-31<span></span></td>
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                <p>If the value is true, then the document is an amendment to previously-filed/accepted document.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                <p>End date of current fiscal year in the format --MM-DD.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">dei_DocumentFiscalYearFocus</td>
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                <p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                    <td>na</td>
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                    <td>duration</td>
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                <p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other".</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation 12B<br><br> -Number 240<br><br> -Section 12b<br><br> -Subsection 1<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
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                    <td><strong> Name:</strong></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">dei_EntityCurrentReportingStatus</td>
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                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>dei_</td>
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                    <td><strong> Data Type:</strong></td>
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                    <td>na</td>
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                    <td>duration</td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">dei_EntityFilerCategory</td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation 12B<br><br> -Number 240<br><br> -Section 12b<br><br> -Subsection 1<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
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                    <td style="white-space:nowrap;">ipar_DocumentAndEntityInformationAbstract</td>
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<td style="font-family: 'times new roman'; padding: 0px;" nowrap="nowrap">&#160;</td>
<td style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;" nowrap="nowrap" colspan="2">December 31,<br/> 2014</td>
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<tr style="vertical-align: bottom;">
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';">&#160;</td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2">&#160;</td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 70%;">Raw materials and component parts</td>
<td style="font-family: 'times new roman'; padding: 0px; width: 1%;"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"><font>31,282</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"><font>36,383</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;">Finished goods</td>
<td style="font-family: 'times new roman'; padding: 0px;"></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>73,272</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>65,943</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';">&#160;</td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="font-family: 'times new roman'; padding: 0px;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>104,554</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>102,326</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
</tr>

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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_InventoryDisclosureAbstract</td>
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                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfInventoryCurrentTableTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361739&amp;loc=d3e7789-107766<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 2<br><br> -Paragraph 6<br><br> -Subparagraph a,b,c<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_ScheduleOfInventoryCurrentTableTextBlock</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EW1AE">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF INCOME (USD $)<br>In Thousands, except Per Share data, unless otherwise specified</strong></div>
        </th>
        <th class="th" colspan="2">3 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2015</div>
        </th>
        <th class="th">
          <div>Mar. 31, 2014</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeStatementAbstract', window );"><strong>CONSOLIDATED STATEMENTS OF INCOME [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SalesRevenueNet', window );">Net sales</a></td>
        <td class="nump"><a title="us-gaap_SalesRevenueNet" onclick="toggleNextSibling(this);">$ 109,249</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_SalesRevenueNet</span><span></span></td>
        <td class="nump"><a title="us-gaap_SalesRevenueNet" onclick="toggleNextSibling(this);">$ 121,730</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_SalesRevenueNet</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostOfGoodsSold', window );">Cost of sales</a></td>
        <td class="nump"><a title="us-gaap_CostOfGoodsSold" onclick="toggleNextSibling(this);">41,639</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_CostOfGoodsSold</span><span></span></td>
        <td class="nump"><a title="us-gaap_CostOfGoodsSold" onclick="toggleNextSibling(this);">52,500</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_CostOfGoodsSold</span><span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GrossProfit', window );">Gross margin</a></td>
        <td class="nump"><a title="us-gaap_GrossProfit" onclick="toggleNextSibling(this);">67,610</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_GrossProfit</span><span></span></td>
        <td class="nump"><a title="us-gaap_GrossProfit" onclick="toggleNextSibling(this);">69,230</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_GrossProfit</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SellingGeneralAndAdministrativeExpense', window );">Selling, general and administrative expenses</a></td>
        <td class="nump"><a title="us-gaap_SellingGeneralAndAdministrativeExpense" onclick="toggleNextSibling(this);">46,544</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_SellingGeneralAndAdministrativeExpense</span><span></span></td>
        <td class="nump"><a title="us-gaap_SellingGeneralAndAdministrativeExpense" onclick="toggleNextSibling(this);">51,807</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_SellingGeneralAndAdministrativeExpense</span><span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingIncomeLoss', window );">Income from operations</a></td>
        <td class="nump"><a title="us-gaap_OperatingIncomeLoss" onclick="toggleNextSibling(this);">21,066</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_OperatingIncomeLoss</span><span></span></td>
        <td class="nump"><a title="us-gaap_OperatingIncomeLoss" onclick="toggleNextSibling(this);">17,423</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_OperatingIncomeLoss</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NonoperatingIncomeExpenseAbstract', window );"><strong>Other expenses (income):</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpense', window );">Interest expense</a></td>
        <td class="nump"><a title="us-gaap_InterestExpense" onclick="toggleNextSibling(this);">158</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_InterestExpense</span><span></span></td>
        <td class="nump"><a title="us-gaap_InterestExpense" onclick="toggleNextSibling(this);">273</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_InterestExpense</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax', window );">Loss (gain) on foreign currency</a></td>
        <td class="nump"><a title="us-gaap_ForeignCurrencyTransactionGainLossBeforeTax" onclick="toggleNextSibling(this);">2,006</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ForeignCurrencyTransactionGainLossBeforeTax</span><span></span></td>
        <td class="num"><a title="us-gaap_ForeignCurrencyTransactionGainLossBeforeTax" onclick="toggleNextSibling(this);">(49)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ForeignCurrencyTransactionGainLossBeforeTax</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentIncomeInterestAndDividend', window );">Interest and dividend income</a></td>
        <td class="num"><a title="us-gaap_InvestmentIncomeInterestAndDividend" onclick="toggleNextSibling(this);">(1,196)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_InvestmentIncomeInterestAndDividend</span><span></span></td>
        <td class="num"><a title="us-gaap_InvestmentIncomeInterestAndDividend" onclick="toggleNextSibling(this);">(1,111)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_InvestmentIncomeInterestAndDividend</span><span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NonoperatingIncomeExpense', window );">Other expenses (income)</a></td>
        <td class="nump"><a title="us-gaap_NonoperatingIncomeExpense" onclick="toggleNextSibling(this);">968</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_NonoperatingIncomeExpense</span><span></span></td>
        <td class="num"><a title="us-gaap_NonoperatingIncomeExpense" onclick="toggleNextSibling(this);">(887)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_NonoperatingIncomeExpense</span><span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments', window );">Income before income taxes</a></td>
        <td class="nump"><a title="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" onclick="toggleNextSibling(this);">20,098</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments</span><span></span></td>
        <td class="nump"><a title="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" onclick="toggleNextSibling(this);">18,310</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Income taxes</a></td>
        <td class="nump"><a title="us-gaap_IncomeTaxExpenseBenefit" onclick="toggleNextSibling(this);">6,793</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_IncomeTaxExpenseBenefit</span><span></span></td>
        <td class="nump"><a title="us-gaap_IncomeTaxExpenseBenefit" onclick="toggleNextSibling(this);">6,160</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_IncomeTaxExpenseBenefit</span><span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net income</a></td>
        <td class="nump"><a title="us-gaap_ProfitLoss" onclick="toggleNextSibling(this);">13,305</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ProfitLoss</span><span></span></td>
        <td class="nump"><a title="us-gaap_ProfitLoss" onclick="toggleNextSibling(this);">12,150</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ProfitLoss</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest', window );">Less: Net income attributable to the noncontrolling interest</a></td>
        <td class="nump"><a title="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" onclick="toggleNextSibling(this);">3,298</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_NetIncomeLossAttributableToNoncontrollingInterest</span><span></span></td>
        <td class="nump"><a title="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" onclick="toggleNextSibling(this);">3,256</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_NetIncomeLossAttributableToNoncontrollingInterest</span><span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income attributable to Inter Parfums, Inc.</a></td>
        <td class="nump"><a title="us-gaap_NetIncomeLoss" onclick="toggleNextSibling(this);">$ 10,007</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_NetIncomeLoss</span><span></span></td>
        <td class="nump"><a title="us-gaap_NetIncomeLoss" onclick="toggleNextSibling(this);">$ 8,894</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_NetIncomeLoss</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareAbstract', window );"><strong>Net income attributable to Inter Parfums, Inc. common shareholders:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasic', window );">Basic</a></td>
        <td class="nump"><a title="us-gaap_EarningsPerShareBasic" onclick="toggleNextSibling(this);">$ 0.32</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_EarningsPerShareBasic</span><span></span></td>
        <td class="nump"><a title="us-gaap_EarningsPerShareBasic" onclick="toggleNextSibling(this);">$ 0.29</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_EarningsPerShareBasic</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareDiluted', window );">Diluted</a></td>
        <td class="nump"><a title="us-gaap_EarningsPerShareDiluted" onclick="toggleNextSibling(this);">$ 0.32</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_EarningsPerShareDiluted</span><span></span></td>
        <td class="nump"><a title="us-gaap_EarningsPerShareDiluted" onclick="toggleNextSibling(this);">$ 0.29</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_EarningsPerShareDiluted</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract', window );"><strong>Weighted average number of shares outstanding:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic', window );">Basic</a></td>
        <td class="nump"><a title="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" onclick="toggleNextSibling(this);">30,979</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_WeightedAverageNumberOfSharesOutstandingBasic</span><span></span></td>
        <td class="nump"><a title="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" onclick="toggleNextSibling(this);">30,900</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_WeightedAverageNumberOfSharesOutstandingBasic</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding', window );">Diluted</a></td>
        <td class="nump"><a title="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" onclick="toggleNextSibling(this);">31,072</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding</span><span></span></td>
        <td class="nump"><a title="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" onclick="toggleNextSibling(this);">31,058</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockDividendsPerShareDeclared', window );">Dividends declared per share</a></td>
        <td class="nump"><a title="us-gaap_CommonStockDividendsPerShareDeclared" onclick="toggleNextSibling(this);">$ 0.13</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_CommonStockDividendsPerShareDeclared</span><span></span></td>
        <td class="nump"><a title="us-gaap_CommonStockDividendsPerShareDeclared" onclick="toggleNextSibling(this);">$ 0.12</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_CommonStockDividendsPerShareDeclared</span><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockDividendsPerShareDeclared">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate dividends declared during the period for each share of common stock outstanding.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_CommonStockDividendsPerShareDeclared</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CostOfGoodsSold">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total costs related to goods produced and sold during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 2<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.2(a))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_CostOfGoodsSold</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_EarningsPerShareAbstract</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasic">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 52<br><br> -URI http://asc.fasb.org/extlink&amp;oid=32703322&amp;loc=d3e4984-109258<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.21)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.19)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.9-04.23)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 18<br><br> -Article 7<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 20<br><br> -Article 5<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 21<br><br> -Article 9<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_EarningsPerShareBasic</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareDiluted">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.21)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 18<br><br> -Article 7<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 20<br><br> -Article 5<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 21<br><br> -Article 9<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_EarningsPerShareDiluted</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount before tax of foreign currency transaction realized and unrealized gain (loss) recognized in the income statement.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 830<br><br> -SubTopic 20<br><br> -Section 45<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450189&amp;loc=d3e30690-110894<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 830<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450222&amp;loc=d3e30840-110895<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 830<br><br> -SubTopic 20<br><br> -Section 45<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450189&amp;loc=d3e30700-110894<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_ForeignCurrencyTransactionGainLossBeforeTax</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GrossProfit">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.1,2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_GrossProfit</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(h)(1)(i))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_IncomeStatementAbstract</td>
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          </td>
        </tr>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(h))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph h<br><br> -Article 4<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Income Tax Expense (or Benefit)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6515339<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 9<br><br> -Subparagraph (a),(b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_IncomeTaxExpenseBenefit</td>
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                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
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                </table>
              </div>
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          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpense">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of the cost of borrowed funds accounted for as interest expense.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 835<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.9-04.9)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 9<br><br> -Article 9<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_InterestExpense</td>
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                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentIncomeInterestAndDividend">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount before accretion (amortization) of purchase discount (premium) of interest income and dividend income on nonoperating securities.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.7(a),(b))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 7<br><br> -Subparagraph a, b<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_InvestmentIncomeInterestAndDividend</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Other Comprehensive Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6519514<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Net Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6518256<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.19)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.18)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.22)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 19<br><br> -Article 5<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 20<br><br> -Article 9<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
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                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of Net Income (Loss) attributable to noncontrolling interest.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1A<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4J<br><br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4591551-111686<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_NetIncomeLossAttributableToNoncontrollingInterest</td>
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                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
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                    <td><strong> Period Type:</strong></td>
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            </div>
          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NonoperatingIncomeExpense">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.7)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 7<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_NonoperatingIncomeExpense</td>
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                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_NonoperatingIncomeExpenseAbstract</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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              </div>
            </div>
          </td>
        </tr>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net result for the period of deducting operating expenses from operating revenues.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_OperatingIncomeLoss</td>
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                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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                    <td><strong> Data Type:</strong></td>
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                    <td><strong> Balance Type:</strong></td>
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                    <td><strong> Period Type:</strong></td>
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              </div>
            </div>
          </td>
        </tr>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4K<br><br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4591552-111686<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 19<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4569616-111683<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1A<br><br> -Subparagraph (a),(c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4J<br><br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4591551-111686<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_ProfitLoss</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SalesRevenueNet">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 1<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_SalesRevenueNet</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SellingGeneralAndAdministrativeExpense">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.4)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 4<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 330<br><br> -SubTopic 10<br><br> -Section 30<br><br> -Paragraph 8<br><br> -URI http://asc.fasb.org/extlink&amp;oid=34747878&amp;loc=d3e3636-108311<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_SellingGeneralAndAdministrativeExpense</td>
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                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 16<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1505-109256<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding</td>
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                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract</td>
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                    <td>us-gaap_</td>
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                    <td>na</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 10<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1448-109256<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Weighted-Average Number of Common Shares Outstanding<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6528421<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfSharesOutstandingBasic</td>
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                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EME">
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          <div style="width: 200px;"><strong>Fair Value Measurement<br></strong></div>
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        <th class="th" colspan="1">3 Months Ended</th>
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      <tr>
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          <div>Mar. 31, 2015</div>
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<td style="width: 0.5in; font-family: 'times new roman';"><b>5.</b></td>
<td style="font-family: 'Times New Roman';"><b><font style="text-decoration: underline;">Fair Value Measurement:</font></b></td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left;">The following tables present our financial assets and liabilities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy. The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value.</p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left;">&#160;</p>
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<tr style="vertical-align: bottom;">
<td style="font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands)</font></td>
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<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td>
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<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px; width: 20px;" colspan="5"><br/></td>
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<td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Quoted Prices in</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Significant Other</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Significant</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><strong>&#160;</strong></td>
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<td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Active Markets for</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Observable</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Unobservable</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><strong>&#160;</strong></td>
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<td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Identical Assets</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Inputs</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Inputs</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><strong>&#160;</strong></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Total</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>(Level 1)</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>(Level 2)</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>(Level 3)</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><strong>&#160;</strong></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Assets:</font></td>
<td style="font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="text-indent: 0.1in; font-family: 'times new roman'; padding: 0px; width: 44%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Short-term investments</font></td>
<td style="font-family: 'times new roman'; padding: 0px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 11%; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">155,938</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 11%; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 11%; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">155,938</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 11%; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Liabilities:</font></td>
<td style="font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; text-indent: -10pt; padding-left: 20pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Foreign currency forward exchange contracts accounted for using hedge<br/>accounting</font></td>
<td style="font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">981</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">981</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="text-align: left; text-indent: -10pt; font-family: 'times new roman'; padding: 0px; padding-left: 20pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Foreign&#160;currency&#160;forward&#160;exchange&#160;contracts&#160;not&#160;accounted&#160;for&#160;using&#160;hedge <br/>accounting</font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,241</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,241</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">2,222</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">2,222</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;">&#160;</td>
</tr>

</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify;">&#160;</p>
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 92%; margin-left: 0.5in;">

<tr style="vertical-align: bottom;">
<td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"></td>
<td style="font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"></td>
<td style="font-family: 'Times New Roman'; padding: 0px;" colspan="2" nowrap="nowrap"></td>
<td style="font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" colspan="10"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Fair Value Measurements at December 31, 2014</strong></font></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px; width: 20px;" colspan="5">&#160;&#160;&#160;<strong> </strong></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"></td>
<td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"></td>
<td style="font-family: 'Times New Roman'; padding: 0px;" colspan="2" nowrap="nowrap"></td>
<td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Quoted Prices in</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Significant Other</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Significant</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><strong>&#160;</strong></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"></td>
<td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"></td>
<td style="font-family: 'Times New Roman'; padding: 0px;" colspan="2" nowrap="nowrap"></td>
<td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Active Markets for</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Observable</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Unobservable</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><strong>&#160;</strong></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"></td>
<td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"></td>
<td style="font-family: 'Times New Roman'; padding: 0px;" colspan="2" nowrap="nowrap"></td>
<td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Identical Assets</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Inputs</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Inputs</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><strong>&#160;</strong></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Total</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>(Level 1)</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>(Level 2)</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>(Level 3)</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><strong>&#160;</strong></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Assets:</font></td>
<td style="font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="text-indent: 0.1in; font-family: 'times new roman'; padding: 0px; width: 44%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Short-term investments</font></td>
<td style="font-family: 'times new roman'; padding: 0px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 11%; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">190,152</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;">&#160;</td>
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<td style="text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Liabilities:</font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;">&#160;</td>
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<td style="text-align: left; text-indent: -10pt; font-family: 'times new roman'; padding: 0px; padding-left: 20pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Foreign&#160;currency&#160;forward&#160;exchange&#160;contracts&#160;not&#160;accounted&#160;for&#160;using&#160;hedge <br/>accounting</font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;">&#160;</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left;">The carrying amount of cash and cash equivalents including money market funds, short-term investments, accounts receivable, other receivables, accounts payable and accrued expenses approximates fair value due to the short terms to maturity of these instruments. The carrying amount of loans payable approximates fair value as the interest rates on the Company's indebtedness approximate current market rates.</p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left;">Foreign currency forward exchange contracts are valued based on quotations from financial institutions.</p>
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<td style="width: 0.5in; text-align: left; font-family: 'times new roman';"><font style="font-variant: small-caps;"><b>4.</b></font></td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify;"><font style="font-variant: small-caps;"><b>&#160;</b></font></p>
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<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';">&#160;</td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2">&#160;</td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;">$</td>
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<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;">$</td>
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<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
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<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
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<tr style="vertical-align: bottom; background-color: white;">
<td style="font-family: 'times new roman'; padding: 0px;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>104,554</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>102,326</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;">&#160;</td>
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                <p>The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361739&amp;loc=d3e7789-107766<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.6)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 6<br><br> -Subparagraph a, b, c<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EFMAC">
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          <div style="width: 200px;"><strong>New Agreements (Details) (USD $)<br>In Millions, unless otherwise specified</strong></div>
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                <p>Term of a license agreement.</p>
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                <p>No definition available.</p>
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                <p>Amount of consideration transferred, consisting of acquisition-date fair value of assets transferred by the acquirer, liabilities incurred by the acquirer, and equity interest issued by the acquirer.</p>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EME">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Fair Value Measurement (Tables)<br></strong></div>
        </th>
        <th class="th" colspan="1">3 Months Ended</th>
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      <tr>
        <th class="th">
          <div>Mar. 31, 2015</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueDisclosuresAbstract', window );"><strong>Fair Value of Financial Instruments [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock', window );">Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis</a></td>
        <td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left;">&#160;</p>
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<tr style="vertical-align: bottom;">
<td style="font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands)</font></td>
<td style="font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"></td>
<td style="font-family: 'Times New Roman'; padding: 0px;" colspan="2" nowrap="nowrap"></td>
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<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" colspan="10"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Fair Value Measurements at March 31, 2015</strong></font></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px; width: 20px;" colspan="5"><br/></td>
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<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Quoted Prices in</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Significant Other</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Significant</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><strong>&#160;</strong></td>
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<td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"></td>
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<td style="font-family: 'Times New Roman'; padding: 0px;" colspan="2" nowrap="nowrap"></td>
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<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Active Markets for</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Observable</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Unobservable</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><strong>&#160;</strong></td>
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<td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Identical Assets</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Inputs</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Inputs</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><strong>&#160;</strong></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Total</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>(Level 1)</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>(Level 2)</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>(Level 3)</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><strong>&#160;</strong></td>
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<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Assets:</font></td>
<td style="font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="text-indent: 0.1in; font-family: 'times new roman'; padding: 0px; width: 44%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Short-term investments</font></td>
<td style="font-family: 'times new roman'; padding: 0px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 11%; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">155,938</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 11%; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 11%; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">155,938</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 11%; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Liabilities:</font></td>
<td style="font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;">&#160;</td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px; text-indent: -10pt; padding-left: 20pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Foreign currency forward exchange contracts accounted for using hedge<br/>accounting</font></td>
<td style="font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">981</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">981</font></font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td>
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</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="text-align: left; text-indent: -10pt; font-family: 'times new roman'; padding: 0px; padding-left: 20pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Foreign&#160;currency&#160;forward&#160;exchange&#160;contracts&#160;not&#160;accounted&#160;for&#160;using&#160;hedge <br/>accounting</font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">2,222</font></font></td>
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<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">2,222</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;">&#160;</td>
</tr>

</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify;">&#160;</p>
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 92%; margin-left: 0.5in;">

<tr style="vertical-align: bottom;">
<td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"></td>
<td style="font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"></td>
<td style="font-family: 'Times New Roman'; padding: 0px;" colspan="2" nowrap="nowrap"></td>
<td style="font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" colspan="10"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Fair Value Measurements at December 31, 2014</strong></font></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px; width: 20px;" colspan="5">&#160;&#160;&#160;<strong> </strong></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"></td>
<td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"></td>
<td style="font-family: 'Times New Roman'; padding: 0px;" colspan="2" nowrap="nowrap"></td>
<td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Quoted Prices in</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Significant Other</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Significant</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><strong>&#160;</strong></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"></td>
<td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"></td>
<td style="font-family: 'Times New Roman'; padding: 0px;" colspan="2" nowrap="nowrap"></td>
<td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Active Markets for</strong></font></td>
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<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Observable</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Unobservable</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><strong>&#160;</strong></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"></td>
<td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"></td>
<td style="font-family: 'Times New Roman'; padding: 0px;" colspan="2" nowrap="nowrap"></td>
<td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Identical Assets</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Inputs</strong></font></td>
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<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Inputs</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><strong>&#160;</strong></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Total</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>(Level 1)</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>(Level 2)</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td>
<td colspan="2" nowrap="nowrap" style="text-align: right; font-family: 'times new roman'; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>(Level 3)</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><strong>&#160;</strong></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Assets:</font></td>
<td style="font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="text-indent: 0.1in; font-family: 'times new roman'; padding: 0px; width: 44%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Short-term investments</font></td>
<td style="font-family: 'times new roman'; padding: 0px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 11%; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">190,152</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 11%; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 11%; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">190,152</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 11%; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Liabilities:</font></td>
<td style="font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;">&#160;</td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; text-indent: -10pt; font-family: 'times new roman'; padding: 0px; padding-left: 20pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Foreign&#160;currency&#160;forward&#160;exchange&#160;contracts&#160;not&#160;accounted&#160;for&#160;using&#160;hedge <br/>accounting</font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">355</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">355</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;">&#160;</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left;"><br/></p>
</div>
</div><span></span></td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 820<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19190-110258<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 820<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (a),(b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19207-110258<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                    <td><strong> Data Type:</strong></td>
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                    <td><strong> Balance Type:</strong></td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EME">
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          <div style="width: 200px;"><strong>Net Income Attributable to Inter Parfums, Inc. Common Shareholders<br></strong></div>
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        <th class="th" colspan="1">3 Months Ended</th>
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<td style="width: 0.5in; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>8.</b></font></td>
<td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><font style="text-decoration: underline;">Net Income Attributable to Inter Parfums, Inc. Common Shareholders:</font></b></font></td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net income attributable to Inter Parfums, Inc. per common share (&#147;basic EPS&#148;) is computed by dividing net earnings attributable to Inter Parfums, Inc. by the weighted average number of shares outstanding.&#160;Net earnings attributable to Inter Parfums, Inc. per share assuming dilution (&#147;diluted EPS&#148;), is computed using the weighted average number of shares outstanding, plus the incremental shares outstanding assuming the exercise of dilutive stock options using the treasury stock method.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The reconciliation between the numerators and denominators of the basic and diluted EPS computations is as follows:</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>
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<tr style="vertical-align: bottom;">
<td style="font-family: 'Times New Roman'; padding: 0px;" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands, except per share data)</font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td>
<td colspan="6" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>March 31,</strong></font></td>
<td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td>
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<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-indent: 0px; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'Times New Roman'; padding: 0px; background-color: #ffffff;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px; text-align: center; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; background-color: #ffffff;" colspan="2"><strong><font style="font-family: 'times new roman', times; font-size: 10pt;">2015</font></strong></td>
<td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff;"><strong><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></strong></td>
<td style="font-family: 'Times New Roman'; text-align: center; padding: 0px; background-color: #ffffff;"><strong><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></strong></td>
<td style="font-family: 'times new roman'; padding: 0px; text-align: center; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; background-color: #ffffff;" colspan="2"><strong><font style="font-family: 'times new roman', times; font-size: 10pt;">2014</font></strong></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px;"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<td style="text-align: left; text-indent: 10px; font-family: 'times new roman'; padding: 0px; width: 70%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net income attributable to Inter Parfums, Inc.</font></td>
<td style="font-family: 'times new roman'; padding: 0px; width: 1%;"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0) !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0) !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; width: 12%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">10,007</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0) !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0) !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; width: 12%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">8,894</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<td style="font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<tr style="vertical-align: bottom; background-color: white;">
<td style="text-indent: 10px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Weighted average shares</font></td>
<td style="font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">30,979</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">30,900</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; text-indent: 10px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Effect of dilutive securities:</font></td>
<td style="font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="text-align: left; text-indent: 30px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Stock options</font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">93</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">158</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; text-indent: 50px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Denominator for diluted earnings per share</font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">31,072</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">31,058</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<tr style="vertical-align: bottom; background-color: white;">
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; text-indent: 0px; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<td style="text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Earnings per share:</font></td>
<td style="font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.29</font></font></td>
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                <p>The entire disclosure for earnings per share.</p>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EME">
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          <div style="width: 200px;"><strong>Derivative Financial Instruments<br></strong></div>
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        <th class="th" colspan="1">3 Months Ended</th>
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          <div>Mar. 31, 2015</div>
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<td style="width: 0.5in; font-family: 'times new roman';"><b>6.</b></td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in;">&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in;">The Company enters into foreign currency forward exchange contracts to hedge exposure related to receivables denominated in a foreign currency and occasionally to manage risks related to future transactions expected to be denominated in a foreign currency.&#160;In connection with the Rochas acquisition, the purchase price of $<font>108</font> million is payable in cash on the closing date and is expected to be financed entirely through a medium term loan. As the payment at closing is due in dollars and we plan to finance it with debt in euro, the Company entered into foreign currency exchange contracts to secure the exchange rate for the $<font>108</font> million purchase price at $<font>1.067</font> per 1 euro. This derivative has been designated and qualifies as a cash flow hedge. The Company did not have any other cash flow hedges during the three months ended March 31, 2015 and 2014. Gains and losses in derivatives not designated as hedges are included in (loss) gain on foreign currency on the accompanying income statement and were immaterial for the three months ended March 31, 2015 and 2014.</p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in;">All derivative instruments are reported as either assets or liabilities on the balance sheet measured at fair value. The valuation of all foreign currency forward exchange contracts as of March 31, 2015 and December 31, 2014 resulted in a liability that is included in accrued expenses on the accompanying balance sheets. Generally, increases or decreases in the fair value of derivative instruments will be recognized as gains or losses in earnings in the period of change. If the derivative instrument is designated and qualifies as a cash flow hedge, the change in fair value of the derivative instrument is recorded as a separate component of shareholders' equity.</p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in;">At March 31, 2015, we had foreign currency contracts in the form of forward exchange contracts in the amount of approximately U.S. $<font>126.7</font>&#160;million, GB pounds &#163;<font>2.2</font>&#160;million and JPY &#165;<font>220.7</font> million which all have maturities of less than <font>one</font> year.</p>
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                <p>The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EME">
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          <div style="width: 200px;"><strong>Share-Based Payments<br></strong></div>
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        <th class="th" colspan="1">3 Months Ended</th>
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<td style="width: 0.5in; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>7.</b></font></td>
<td style="text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><font style="text-decoration: underline;">Share-Based Payments:</font></b></font></td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company maintains a stock option program for key employees, executives and directors. The plans, all of which have been approved by shareholder vote, provide for the granting of both nonqualified and incentive options. Options granted under the plans typically have a <font>six</font>-year term and vest over a <font>four</font> to <font>five</font>-year period. The fair value of shares vested during both the three months ended March 31, 2015 and 2014 aggregated $<font>0.03</font> million. Compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. It is generally our policy to issue new shares upon exercise of stock options.</font></p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The following table sets forth information with respect to nonvested options for the three month period ended March 31, 2015:</font></p>
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<td style="font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; text-align: center; background-color: #ffffff;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">Weighted&#160;Average</font></font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
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<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Nonvested options granted</font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">14,000</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">6.73</font></font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Nonvested options vested or forfeited</font></td>
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<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">6.39</font></font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Nonvested options &#150; end of period</font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">7.14</font></font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></font></td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Share-based payment expense decreased income before income taxes by $<font>0.19</font> million and $<font>0.23</font> million for the three months ended March 31, 2015 and 2014, respectively, and decreased net income attributable to Inter Parfums, Inc. by $<font>0.12</font> million and $<font>0.11</font> million for the three months ended March 31, 2015 and 2014, respectively.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The following table summarizes stock option information as of March 31, 2015:</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>
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<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';">&#160;</td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: center;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">Weighted&#160;Average</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';">&#160;</td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: center; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="2"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">Shares</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: center; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">Exercise&#160;Price</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; padding: 0px; width: 70%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Outstanding at January 1, 2015</font></td>
<td style="font-family: 'times new roman'; padding: 0px; width: 1%;"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">639,495</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">23.19</font></font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font>&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Options granted</font></td>
<td style="font-family: 'Times New Roman';"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">14,000</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">25.67</font></font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Options cancelled</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(2,170</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td>
<td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">25.49</font></font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Options exercised</font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(4,808</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">17.14</font></font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Outstanding at March 31, 2015</font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">646,517</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">23.28</font></font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Options exercisable</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">254,097</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">18.50</font></font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Options&#160;available&#160;for&#160;future&#160;grants</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">316,705</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; text-align: left; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; text-align: right; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; text-align: right; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>

</table>
</div>
</div>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left;"><font style="font-family: 'times new roman', times; font-size: 10pt;">As of March 31, 2015, the weighted average remaining contractual life of options outstanding is <font>3.69</font> years (<font>2.39</font> years for options exercisable), the aggregate intrinsic value of options outstanding and options exercisable is $<font>6.4</font> million and $<font>3.7</font> million, respectively, and unrecognized compensation cost related to stock options outstanding of Inter Parfums, Inc. aggregated $<font>2.5</font> million.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>
<div>
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<div style="margin-left: 0.5in;">
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 88%; margin-left: 0.1px;">

<tr style="vertical-align: bottom;">
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;">&#160;</td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: center;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">March 31,</font></font></td>
<td style="vertical-align: top; font-family: 'Times New Roman'; text-align: center; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; font-family: 'Times New Roman'; text-align: center; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: center;" colspan="3"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">March 31,</font></font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"><font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">(In thousands)</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: center; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">2015</font></td>
<td style="vertical-align: top; font-family: 'Times New Roman'; text-align: center; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; font-family: 'Times New Roman'; text-align: center; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: center; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="3"><font style="font-family: 'times new roman', times; font-size: 10pt;">2014</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="3"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 70%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Cash&#160;proceeds&#160;from&#160;stock&#160;options&#160;exercised</font></td>
<td style="font-family: 'times new roman'; padding: 0px; width: 1%;"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">82</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; text-align: right; width: 12%;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font><font><font style="font-family: 'times new roman', times; font-size: 10pt;">695</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<tr style="vertical-align: bottom; background-color: white;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Tax benefits</font></td>
<td style="font-family: 'Times New Roman'; padding: 0px;"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; text-align: right;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Intrinsic value of stock options exercised</font></td>
<td style="font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">66</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; text-align: right;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,455</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The weighted average fair values of the options granted by Inter Parfums, Inc. during the three months ended March 31, 2015 and 2014 were $<font>6.73</font> and $<font>8.37</font> per share, respectively, on the date of grant using the Black-Scholes option pricing model to calculate the fair value of options granted. The assumptions used in the Black-Scholes pricing model for the periods ended March 31, 2015 and 2014 are set forth in the following table:</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>
<div>
<div style="display: block;">
<div style="margin-left: 0.5in;">
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 88%; margin-left: 0.1px;">

<tr style="vertical-align: bottom;">
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';">&#160;</td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: center;" colspan="2"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">March 31,</font></td>
<td style="vertical-align: top; font-family: 'Times New Roman'; text-align: center; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; font-family: 'Times New Roman'; text-align: center; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: center;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">March 31,</font></font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';">&#160;</td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: center; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">2015</font></td>
<td style="vertical-align: top; font-family: 'Times New Roman'; text-align: center; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; font-family: 'Times New Roman'; text-align: center; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="padding: 0px; vertical-align: top; text-align: center; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">2014</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<td style="font-family: 'times new roman'; padding: 0px; width: 70%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Weighted&#160;average&#160;expected&#160;stock-price&#160;volatility</font></td>
<td style="font-family: 'times new roman'; padding: 0px; width: 1%;"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">34</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">37</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td>
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<td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Weighted average expected option life</font></td>
<td style="font-family: 'Times New Roman';"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>5</font> years</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'Times New Roman', Times, serif; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>5</font> years</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Weighted average risk-free interest rate</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1.28</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1.55</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td>
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<td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Weighted average dividend yield</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1.8</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">2.8</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Expected volatility is estimated based on historic volatility of the Company's common stock. The expected term of the option is estimated based on historic data. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of the grant of the option and the dividend yield reflects the assumption that the dividend payout as authorized by the Board of Directors would increase as the earnings of the Company and its stock price continue to increase.</font></p>
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<td style="width: 0.5in; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>9.</b></font></td>
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<td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company manufactures and distributes one product line, fragrances and fragrance related products. The Company manages its business in two segments, European based operations and United States based operations. The European assets are located, and operations are primarily conducted, in France. European operations primarily represent the sale of prestige brand name fragrances and United States operations primarily represent the sale of prestige brand name and specialty retail fragrance. Information on our operations by geographical areas is as follows:</font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">(In thousands)</font></td>
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<td style="font-family: 'Times New Roman'; background-color: #ffffff;" nowrap="nowrap">&#160;</td>
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<td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" nowrap="nowrap" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">2014</font></td>
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<td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">22,479</font></font></td>
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<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<td style="font-family: 'times new roman'; padding: 0px; text-indent: 10px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Eliminations</font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(17</font></font></td>
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<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: left;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; text-indent: 10px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">United States</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,109</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(67</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; padding: 0px; text-indent: 10px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Europe</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">8,898</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">8,961</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="font-family: 'times new roman'; padding: 0px; text-indent: 10px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Eliminations</font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">10,007</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">8,894</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>

</table>
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</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p>
<div style="display: block;">
<div style="margin-left: 0.5in;">
<div class="CursorPointer">
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 88%; margin-left: 0.1px;">

<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; background-color: #ffffff;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">March&#160;31,</font>&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">March&#160;31,</font></font></td>
<td style="font-family: 'times new roman'; text-align: left; padding: 0px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; background-color: #ffffff;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">2015</font></td>
<td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">2014</font></td>
<td style="font-family: 'times new roman'; text-align: left; padding: 0px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total Assets:</font></td>
<td style="font-family: 'times new roman'; padding: 0px;"></td>
<td style="font-family: 'times new roman'; text-align: left; padding: 0px;"></td>
<td style="font-family: 'times new roman'; text-align: right; padding: 0px;"></td>
<td style="font-family: 'times new roman'; text-align: left; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; text-align: left; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; text-align: right; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; text-align: left; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; text-indent: 10px; width: 70%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">United States</font></td>
<td style="font-family: 'times new roman'; padding: 0px; width: 1%;"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">75,648</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">71,014</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; padding: 0px; text-indent: 10px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Europe</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">497,294</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">589,481</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; text-indent: 10px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Eliminations of investment in subsidiary</font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(9,179</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(9,217</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">563,763</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">651,278</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
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                <p>Carrying value as of the balance sheet date of obligations incurred through that date and payable for advertising of the entity's goods and services. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EME">
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          <div style="width: 200px;"><strong>Net Income Attributable to Inter Parfums, Inc Common Shareholders (Tables)<br></strong></div>
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<td colspan="6" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>March 31,</strong></font></td>
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<td style="font-family: 'Times New Roman'; padding: 0px; background-color: #ffffff;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px; text-align: center; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; background-color: #ffffff;" colspan="2"><strong><font style="font-family: 'times new roman', times; font-size: 10pt;">2015</font></strong></td>
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<td style="font-family: 'Times New Roman'; text-align: center; padding: 0px; background-color: #ffffff;"><strong><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></strong></td>
<td style="font-family: 'times new roman'; padding: 0px; text-align: center; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; background-color: #ffffff;" colspan="2"><strong><font style="font-family: 'times new roman', times; font-size: 10pt;">2014</font></strong></td>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<td style="text-align: left; text-indent: 10px; font-family: 'times new roman'; padding: 0px; width: 70%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net income attributable to Inter Parfums, Inc.</font></td>
<td style="font-family: 'times new roman'; padding: 0px; width: 1%;"></td>
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<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: rgb(0, 0, 0) !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; width: 12%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">10,007</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<td style="text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Denominator:</font></td>
<td style="font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<tr style="vertical-align: bottom; background-color: white;">
<td style="text-indent: 10px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Weighted average shares</font></td>
<td style="font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">30,979</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">30,900</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; text-indent: 10px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Effect of dilutive securities:</font></td>
<td style="font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="text-align: left; text-indent: 30px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Stock options</font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">93</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">158</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; text-indent: 50px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Denominator for diluted earnings per share</font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">31,072</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">31,058</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; text-indent: 0px; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Earnings per share:</font></td>
<td style="font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="text-align: left; text-indent: 10px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net&#160;income&#160;attributable&#160;to&#160;Inter&#160;Parfums,&#160;Inc.&#160;common&#160;shareholders:</font></td>
<td style="font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-indent: 50px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Basic</font></td>
<td style="font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.32</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.29</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="text-indent: 50px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Diluted</font></td>
<td style="font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.32</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.29</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br></p>
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          <div style="width: 200px;"><strong>Derivative Financial Instruments (Details) (Foreign currency forward exchange contracts [Member])<br>In Millions, except Per Share data, unless otherwise specified</strong></div>
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        <th class="th" colspan="4">3 Months Ended</th>
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          <div>Mar. 31, 2015

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          <div>USD ($)</div>
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        <th class="th">
          <div>Mar. 31, 2015

</div>
          <div>GBP (&#xA3;)</div>
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          <div>Mar. 31, 2015

</div>
          <div>JPY (&#xA5;)</div>
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          <div>Mar. 31, 2015

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          <div>Rochas brand [Member]

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          <div>USD ($)</div>
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        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationConsiderationTransferred1', window );">Purchase price</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump"><a title="us-gaap_BusinessCombinationConsiderationTransferred1[us-gaap_BusinessAcquisitionAxis=ipar_RochasBrandMember;us-gaap_DerivativeInstrumentRiskAxis=us-gaap_ForeignExchangeContractMember]" onclick="toggleNextSibling(this);">$ 108</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_BusinessCombinationConsiderationTransferred1<br>/ us-gaap_BusinessAcquisitionAxis<br>= ipar_RochasBrandMember<br>/ us-gaap_DerivativeInstrumentRiskAxis<br>= us-gaap_ForeignExchangeContractMember</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeNotionalAmount', window );">Notional amount</a></td>
        <td class="nump"><a title="invest_DerivativeNotionalAmount[us-gaap_DerivativeInstrumentRiskAxis=us-gaap_ForeignExchangeContractMember]" onclick="toggleNextSibling(this);">$ 126.7</a><span style="display:none;white-space:normal;text-align:left;">invest_DerivativeNotionalAmount<br>/ us-gaap_DerivativeInstrumentRiskAxis<br>= us-gaap_ForeignExchangeContractMember</span><span></span></td>
        <td class="nump"><a title="invest_DerivativeNotionalAmount[us-gaap_DerivativeInstrumentRiskAxis=us-gaap_ForeignExchangeContractMember]" onclick="toggleNextSibling(this);">&#xA3; 2.2</a><span style="display:none;white-space:normal;text-align:left;">invest_DerivativeNotionalAmount<br>/ us-gaap_DerivativeInstrumentRiskAxis<br>= us-gaap_ForeignExchangeContractMember</span><span></span></td>
        <td class="nump"><a title="invest_DerivativeNotionalAmount[us-gaap_DerivativeInstrumentRiskAxis=us-gaap_ForeignExchangeContractMember]" onclick="toggleNextSibling(this);">&#xA5; 220.7</a><span style="display:none;white-space:normal;text-align:left;">invest_DerivativeNotionalAmount<br>/ us-gaap_DerivativeInstrumentRiskAxis<br>= us-gaap_ForeignExchangeContractMember</span><span></span></td>
        <td class="nump"><a title="invest_DerivativeNotionalAmount[us-gaap_BusinessAcquisitionAxis=ipar_RochasBrandMember;us-gaap_DerivativeInstrumentRiskAxis=us-gaap_ForeignExchangeContractMember]" onclick="toggleNextSibling(this);">$ 108.0</a><span style="display:none;white-space:normal;text-align:left;">invest_DerivativeNotionalAmount<br>/ us-gaap_BusinessAcquisitionAxis<br>= ipar_RochasBrandMember<br>/ us-gaap_DerivativeInstrumentRiskAxis<br>= us-gaap_ForeignExchangeContractMember</span><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ipar_DerivativeForwardExchangePricePerShare', window );">Exchange rate (in dollars per share)</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump"><a title="ipar_DerivativeForwardExchangePricePerShare[us-gaap_BusinessAcquisitionAxis=ipar_RochasBrandMember;us-gaap_DerivativeInstrumentRiskAxis=us-gaap_ForeignExchangeContractMember]" onclick="toggleNextSibling(this);">$ 1.067</a><span style="display:none;white-space:normal;text-align:left;">ipar_DerivativeForwardExchangePricePerShare<br>/ us-gaap_BusinessAcquisitionAxis<br>= ipar_RochasBrandMember<br>/ us-gaap_DerivativeInstrumentRiskAxis<br>= us-gaap_ForeignExchangeContractMember</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeHigherRemainingMaturityRange1', window );">Maximum maturity period</a></td>
        <td class="text">1 year<span></span></td>
        <td class="text">1 year<span></span></td>
        <td class="text">1 year<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_DerivativeNotionalAmount">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate notional amount specified by the derivative(s). Expressed as an absolute value.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 12<br><br> -Section 13<br><br> -Sentence Column B<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">invest_DerivativeNotionalAmount</td>
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                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>invest_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
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          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ipar_DerivativeForwardExchangePricePerShare">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Average contractual share price at which a foreign currency can be purchased or sold.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">ipar_DerivativeForwardExchangePricePerShare</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>ipar_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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          </td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationConsiderationTransferred1">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of consideration transferred, consisting of acquisition-date fair value of assets transferred by the acquirer, liabilities incurred by the acquirer, and equity interest issued by the acquirer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 805<br><br> -SubTopic 30<br><br> -Section 30<br><br> -Paragraph 7<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6911251&amp;loc=d3e6578-128477<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 805<br><br> -SubTopic 30<br><br> -Section 30<br><br> -Paragraph 8<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6911251&amp;loc=d3e6613-128477<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 805<br><br> -SubTopic 30<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=35744584&amp;loc=d3e6927-128479<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_BusinessCombinationConsiderationTransferred1</td>
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                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeHigherRemainingMaturityRange1">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>High end period remaining until maturity for the derivative contract, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_DerivativeHigherRemainingMaturityRange1</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:durationItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_DerivativeLineItems</td>
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                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EDFAE">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (USD $)<br>In Thousands, unless otherwise specified</strong></div>
        </th>
        <th class="th" colspan="2">3 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2015</div>
        </th>
        <th class="th">
          <div>Mar. 31, 2014</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterestAbstract', window );"><strong>Comprehensive income (loss):</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net income</a></td>
        <td class="nump"><a title="us-gaap_ProfitLoss" onclick="toggleNextSibling(this);">$ 13,305</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ProfitLoss</span><span></span></td>
        <td class="nump"><a title="us-gaap_ProfitLoss" onclick="toggleNextSibling(this);">$ 12,150</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ProfitLoss</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossBeforeTaxPeriodIncreaseDecreaseAbstract', window );"><strong>Other comprehensive income (loss):</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ipar_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTaxAtrributableToParent', window );">Net derivative instrument loss, net of tax</a></td>
        <td class="num"><a title="ipar_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTaxAtrributableToParent" onclick="toggleNextSibling(this);">(608)</a><span style="display:none;white-space:normal;text-align:left;">ipar_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTaxAtrributableToParent</span><span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent', window );">Translation adjustments, net of tax</a></td>
        <td class="num"><a title="us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent" onclick="toggleNextSibling(this);">(47,868)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent</span><span></span></td>
        <td class="num"><a title="us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent" onclick="toggleNextSibling(this);">(1,397)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent</span><span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest', window );">Comprehensive income (loss)</a></td>
        <td class="num"><a title="us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" onclick="toggleNextSibling(this);">(35,171)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest</span><span></span></td>
        <td class="nump"><a title="us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" onclick="toggleNextSibling(this);">10,753</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterestAbstract', window );"><strong>Comprehensive income (loss) attributable to the noncontrolling interests:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest', window );">Net income</a></td>
        <td class="nump"><a title="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" onclick="toggleNextSibling(this);">3,298</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_NetIncomeLossAttributableToNoncontrollingInterest</span><span></span></td>
        <td class="nump"><a title="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" onclick="toggleNextSibling(this);">3,256</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_NetIncomeLossAttributableToNoncontrollingInterest</span><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterestAbstract', window );"><strong>Other comprehensive income (loss):</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ipar_OtherComprehensiveIncomeLossUnrealizedGainLossOnDerivativesArisingDuringPeriodNetofTax', window );">Net derivative instrument loss, net of tax</a></td>
        <td class="num"><a title="ipar_OtherComprehensiveIncomeLossUnrealizedGainLossOnDerivativesArisingDuringPeriodNetofTax" onclick="toggleNextSibling(this);">(165)</a><span style="display:none;white-space:normal;text-align:left;">ipar_OtherComprehensiveIncomeLossUnrealizedGainLossOnDerivativesArisingDuringPeriodNetofTax</span><span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest', window );">Translation adjustments, net of tax</a></td>
        <td class="num"><a title="us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest" onclick="toggleNextSibling(this);">(13,075)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest</span><span></span></td>
        <td class="num"><a title="us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest" onclick="toggleNextSibling(this);">(478)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest</span><span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest', window );">Comprehensive income (loss) attributable to the noncontrolling interests</a></td>
        <td class="num"><a title="us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" onclick="toggleNextSibling(this);">(9,942)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest</span><span></span></td>
        <td class="nump"><a title="us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" onclick="toggleNextSibling(this);">2,778</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest</span><span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomeNetOfTax', window );">Comprehensive income (loss) attributable to Inter Parfums, Inc.</a></td>
        <td class="num"><a title="us-gaap_ComprehensiveIncomeNetOfTax" onclick="toggleNextSibling(this);">$ (25,229)</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ComprehensiveIncomeNetOfTax</span><span></span></td>
        <td class="nump"><a title="us-gaap_ComprehensiveIncomeNetOfTax" onclick="toggleNextSibling(this);">$ 7,975</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ComprehensiveIncomeNetOfTax</span><span></span></td>
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    </table>
    <div style="display: none;">
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount after tax of increase (decrease) in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss) attributable to noncontrolling interest.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount after tax of increase (decrease) in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss) attributable to parent.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Other Comprehensive Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6519514<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Comprehensive Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=35737396<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e557-108580<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Net Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6518256<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 21<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4613674-111683<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 20<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4569643-111683<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4K<br><br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4591552-111686<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4K<br><br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4591552-111686<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 19<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4569616-111683<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of Net Income (Loss) attributable to noncontrolling interest.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1A<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 4J<br><br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4591551-111686<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount after tax and reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature, attributable to noncontrolling interests.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 20<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4569643-111683<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 19<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4569616-111683<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1A<br><br> -Subparagraph (c)(3)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br><br><br><br></p>
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                    <td><strong> Name:</strong></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount after tax and reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature, attributable to parent entity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 20<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4569643-111683<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 19<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4569616-111683<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1A<br><br> -Subparagraph (c)(3)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br><br><br><br></p>
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                <p>The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.</p>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0EME">
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                <p>The entire disclosure of new agreements.</p>
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                <p>No definition available.</p>
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  <body><span style="display: none;">v2.4.1.9</span><table class="report" border="0" cellspacing="2" id="ID0E2TAE">
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          <div style="width: 200px;"><strong>Share-Based Payments (Narrative) (Details) (USD $)<br>In Millions, except Per Share data, unless otherwise specified</strong></div>
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          <div>Mar. 31, 2015</div>
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          <div>Mar. 31, 2014</div>
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        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod', window );">Term of employee stock options</a></td>
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        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1', window );">Employee stock options, fair value of shares vested</a></td>
        <td class="nump"><a title="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1" onclick="toggleNextSibling(this);">$ 0.03</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1</span><span></span></td>
        <td class="nump"><a title="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1" onclick="toggleNextSibling(this);">$ 0.03</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1</span><span></span></td>
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      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllocatedShareBasedCompensationExpense', window );">Decrease in income before income tax due to share-based payment expense</a></td>
        <td class="nump"><a title="us-gaap_AllocatedShareBasedCompensationExpense" onclick="toggleNextSibling(this);">0.19</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_AllocatedShareBasedCompensationExpense</span><span></span></td>
        <td class="nump"><a title="us-gaap_AllocatedShareBasedCompensationExpense" onclick="toggleNextSibling(this);">0.23</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_AllocatedShareBasedCompensationExpense</span><span></span></td>
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      <tr class="re">
        <td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ipar_AllocatedShareBasedCompensationExpenseEffectOnNetIncomeAttributableToParent', window );">Decrease in income attributable to Inter Parfums, Inc due to share-based payment expense</a></td>
        <td class="nump"><a title="ipar_AllocatedShareBasedCompensationExpenseEffectOnNetIncomeAttributableToParent" onclick="toggleNextSibling(this);">0.12</a><span style="display:none;white-space:normal;text-align:left;">ipar_AllocatedShareBasedCompensationExpenseEffectOnNetIncomeAttributableToParent</span><span></span></td>
        <td class="nump"><a title="ipar_AllocatedShareBasedCompensationExpenseEffectOnNetIncomeAttributableToParent" onclick="toggleNextSibling(this);">0.11</a><span style="display:none;white-space:normal;text-align:left;">ipar_AllocatedShareBasedCompensationExpenseEffectOnNetIncomeAttributableToParent</span><span></span></td>
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        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2', window );">Weighted average remaining contractual life of options outstanding</a></td>
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        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue', window );">Aggregate intrinsic value of options outstanding</a></td>
        <td class="nump"><a title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" onclick="toggleNextSibling(this);">6.4</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1', window );">Aggregate intrinsic value of options exercisable</a></td>
        <td class="nump"><a title="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1" onclick="toggleNextSibling(this);">3.7</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized', window );">Unrecognized compensation cost related to stock options</a></td>
        <td class="nump"><a title="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" onclick="toggleNextSibling(this);">$ 2.5</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized</span><span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue', window );">Weighted average grant date fair value</a></td>
        <td class="nump"><a title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" onclick="toggleNextSibling(this);">$ 6.73</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue</span><span></span></td>
        <td class="nump"><a title="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" onclick="toggleNextSibling(this);">$ 8.37</a><span style="display:none;white-space:normal;text-align:left;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue</span><span></span></td>
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        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RangeAxis=us-gaap_MinimumMember', window );">Minimum [Member]</a></td>
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        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
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        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">5 years<span></span></td>
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    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ipar_AllocatedShareBasedCompensationExpenseEffectOnNetIncomeAttributableToParent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the effect of equity-based compensation arrangement on net income attributable to parent.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">ipar_AllocatedShareBasedCompensationExpenseEffectOnNetIncomeAttributableToParent</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>ipar_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AllocatedShareBasedCompensationExpense">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SAB TOPIC 14.F)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27013229&amp;loc=d3e301413-122809<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (h)(1)(i)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 14<br><br> -Section F<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_AllocatedShareBasedCompensationExpense</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Unrecognized cost of unvested share-based compensation awards.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (i)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Period which an employee's right to exercise an award is no longer contingent on satisfaction of either a service condition, market condition or a performance condition, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (a)(1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:durationItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Period from grant date that an equity-based award expires, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (a)(2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:durationItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of difference between fair value of the underlying shares reserved for issuance and exercise price of vested portions of options outstanding and currently exercisable.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Weighted average remaining contractual term for vested portions of options outstanding and currently exercisable or convertible, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:durationItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The weighted average grant-date fair value of options granted during the reporting period as calculated by applying the disclosed option pricing methodology.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (d)(1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount by which the current fair value of the underlying stock exceeds the exercise price of options outstanding.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Weighted average remaining contractual term for option awards outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (e)(1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2</td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:durationItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
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                <p>Fair value of options vested. Excludes equity instruments other than options, for example, but not limited to, share units, stock appreciation rights, restricted stock.</p>
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<td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; background-color: #ffffff;">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; text-align: center; background-color: #ffffff;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">Weighted&#160;Average</font></font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; background-color: #ffffff;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px; text-align: right; background-color: rgb(255, 255, 255);border-bottom-width: 1pt !important;border-bottom-style: solid !important;border-bottom-color: rgb(0, 0, 0) !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: right; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">Number&#160;of&#160;Shares</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important; text-align: center; background-color: #ffffff;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">Grant&#160;Date&#160;Fair&#160;Value</font></font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 70%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Nonvested&#160;options&#160;&#150;&#160;beginning&#160;of&#160;period</font></td>
<td style="font-family: 'times new roman'; padding: 0px; width: 1%;"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">385,505</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">7.14</font></font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></font></td>
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<tr style="vertical-align: bottom; background-color: white;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Nonvested options granted</font></td>
<td style="font-family: 'Times New Roman';"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">14,000</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">6.73</font></font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></font></td>
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<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Nonvested options vested or forfeited</font></td>
<td style="font-family: 'times new roman'; padding: 0px;"></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(7,085</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">6.39</font></font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></font></td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Nonvested options &#150; end of period</font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">392,420</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">7.14</font></font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></font></td>
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        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock', window );">Schedule of Stock Option Activity</a></td>
        <td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
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<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 88%; margin-left: 0.1px;">

<tr style="vertical-align: bottom;">
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';">&#160;</td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';">&#160;</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: center;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">Weighted&#160;Average</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<tr style="vertical-align: bottom;">
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';">&#160;</td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: center; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="2"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">Shares</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: center; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">Exercise&#160;Price</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<tr style="vertical-align: bottom;">
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; padding: 0px; width: 70%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Outstanding at January 1, 2015</font></td>
<td style="font-family: 'times new roman'; padding: 0px; width: 1%;"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">639,495</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">23.19</font></font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font>&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Options granted</font></td>
<td style="font-family: 'Times New Roman';"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">14,000</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">25.67</font></font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Options cancelled</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(2,170</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td>
<td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">25.49</font></font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>&#160;</font></td>
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<tr style="vertical-align: bottom; background-color: white;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Options exercised</font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(4,808</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">17.14</font></font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Outstanding at March 31, 2015</font></td>
<td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">646,517</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">23.28</font></font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Options exercisable</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">254,097</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="white-space: nowrap; padding: 0px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">18.50</font></font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Options&#160;available&#160;for&#160;future&#160;grants</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">316,705</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; text-align: left; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; text-align: right; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; text-align: right; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>

</table>
</div>
</div>
</div><span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfCashProceedsReceivedFromShareBasedPaymentAwardsTableTextBlock', window );">Summary of Options Exercised</a></td>
        <td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<div style="display: block;">
<div style="margin-left: 0.5in;">
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 88%; margin-left: 0.1px;">

<tr style="vertical-align: bottom;">
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;">&#160;</td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: center;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">March 31,</font></font></td>
<td style="vertical-align: top; font-family: 'Times New Roman'; text-align: center; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; font-family: 'Times New Roman'; text-align: center; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: center;" colspan="3"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">March 31,</font></font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"><font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">(In thousands)</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: center; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">2015</font></td>
<td style="vertical-align: top; font-family: 'Times New Roman'; text-align: center; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; font-family: 'Times New Roman'; text-align: center; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: center; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="3"><font style="font-family: 'times new roman', times; font-size: 10pt;">2014</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="3"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 70%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Cash&#160;proceeds&#160;from&#160;stock&#160;options&#160;exercised</font></td>
<td style="font-family: 'times new roman'; padding: 0px; width: 1%;"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">82</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">$</font></td>
<td style="font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; text-align: right; width: 12%;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font><font><font style="font-family: 'times new roman', times; font-size: 10pt;">695</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Tax benefits</font></td>
<td style="font-family: 'Times New Roman'; padding: 0px;"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; text-align: right;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Intrinsic value of stock options exercised</font></td>
<td style="font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">66</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; text-align: right;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,455</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>

</table>
</div>
</div>
</div><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock', window );">Schedule of Assumptions Used to Estimate Fair Value of Stock Options</a></td>
        <td class="text"><div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<div style="display: block;">
<div style="margin-left: 0.5in;">
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 88%; margin-left: 0.1px;">

<tr style="vertical-align: bottom;">
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';">&#160;</td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: center;" colspan="2"><font style="color: #000000; font-family: 'times new roman', times; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">March 31,</font></td>
<td style="vertical-align: top; font-family: 'Times New Roman'; text-align: center; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; font-family: 'Times New Roman'; text-align: center; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: center;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">March 31,</font></font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';">&#160;</td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';">&#160;</td>
<td style="font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: center; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">2015</font></td>
<td style="vertical-align: top; font-family: 'Times New Roman'; text-align: center; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; font-family: 'Times New Roman'; text-align: center; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="padding: 0px; vertical-align: top; text-align: center; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">2014</font></td>
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<tr style="vertical-align: bottom;">
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<td style="font-family: 'times new roman'; padding: 0px; width: 70%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Weighted&#160;average&#160;expected&#160;stock-price&#160;volatility</font></td>
<td style="font-family: 'times new roman'; padding: 0px; width: 1%;"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">34</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 12%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">37</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td>
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<tr style="vertical-align: bottom; background-color: white;">
<td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Weighted average expected option life</font></td>
<td style="font-family: 'Times New Roman';"></td>
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<td style="text-align: right; font-family: 'times new roman'; padding: 0px; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>5</font> years</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'Times New Roman', Times, serif; padding: 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>5</font> years</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
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<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Weighted average risk-free interest rate</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1.28</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1.55</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td>
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<tr style="vertical-align: bottom; background-color: white;">
<td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Weighted average dividend yield</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1.8</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">2.8</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td>
</tr>

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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tabular disclosure of the amount of cash proceeds received from the exercise of stock options and similar instruments granted under share-based payment arrangements and the tax benefit realized from stock options exercised during the period.  Disclosure may also include the intrinsic value of stock options exercised during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (j)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tabular disclosure of the changes in outstanding nonvested shares.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)(2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
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                <p>Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)(1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (f)(2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
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