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Segments and Geographic Areas | 12 Months Ended
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Dec. 31, 2021
Segment Reporting [Abstract] |
Segments and Geographic Areas |
(15) | Segments and Geographic Areas
The Company manufactures and distributes one product line, fragrances and fragrance related products. The Company manages its business in two segments, European based operations and United States based operations. The European assets are located, and operations are primarily conducted, in France. Both European and United States operations primarily represent the sale of prestige brand name fragrances. INTER PARFUMS, INC. AND SUBSIDIARIES Notes to Consolidated Financial Statements December 31, 2021, 2020 and 2019 (In thousands except share and per share data) Information on the Company’s operations by segments is as follows:
|  | Year ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 216,559 |  |  | $ | 117,489 |  |  | $ | 173,522 |
Europe |  |  | 663,290 |  |  |  | 422,947 |  |  |  | 542,226 |
Eliminations of intercompany sales |  |  | (333 | ) |  |  | (1,427 | ) |  |  | (2,234 | )
|  | $ | 879,516 |  |  | $ | 539,009 |  |  | $ | 713,514 |
Net income attributable to Inter Parfums, Inc.: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 29,359 |  |  | $ | 7,942 |  |  | $ | 19,365 |
Europe |  |  | 57,869 |  |  |  | 30,241 |  |  |  | 40,840 |
Eliminations |  |  | 183 |  |  |  | 36 |  |  |  | 44 |
|  | $ | 87,411 |  |  | $ | 38,219 |  |  | $ | 60,249 |
Depreciation and amortization expense including impairment loss: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 3,835 |  |  | $ | 3,354 |  |  | $ | 3,088 |
Europe |  |  | 8,863 |  |  |  | 5,713 |  |  |  | 5,641 |
|  | $ | 12,698 |  |  | $ | 9,067 |  |  | $ | 8,729 |
Interest and investment income: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 3 |  |  | $ | 24 |  |  | $ | 345 |
Europe |  |  | 3,526 |  |  |  | 2,971 |  |  |  | 3,501 |
Eliminations |  |  | (126 | ) |  |  | (130 | ) |  |  | (153 | )
|  | $ | 3,403 |  |  | $ | 2,865 |  |  | $ | 3,693 |
Interest expense: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 636 |  |  | $ | 604 |  |  | $ | 673 |
Europe |  |  | 2,315 |  |  |  | 1,496 |  |  |  | 1,626 |
Eliminations |  |  | (126 | ) |  |  | (130 | ) |  |  | (153 | )
|  | $ | 2,825 |  |  | $ | 1,970 |  |  | $ | 2,146 |
Income tax expense: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 5,336 |  |  | $ | 1,590 |  |  | $ | 3,945 |
Europe |  |  | 35,607 |  |  |  | 17,782 |  |  |  | 25,101 |
Eliminations |  |  | 49 |  |  |  | 9 |  |  |  | 30 |
|  | $ | 40,992 |  |  | $ | 19,381 |  |  | $ | 29,076 |
|  | December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
Total assets: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 247,703 |  |  | $ | 141,316 |  |  | $ | 166,180 |
Europe |  |  | 931,735 |  |  |  | 758,812 |  |  |  | 670,657 |
Eliminations |  |  | (34,074 | ) |  |  | (9,983 | ) |  |  | (8,005 | )
|  | $ | 1,145,364 |  |  | $ | 890,145 |  |  | $ | 828,832 |
Additions to long-lived assets: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 2,711 |  |  | $ | 1,004 |  |  | $ | 5,851 |
Europe |  |  | 138,563 |  |  |  | 11,259 |  |  |  | 5,643 |
|  | $ | 141,274 |  |  | $ | 12,263 |  |  | $ | 11,494 |
Total long-lived assets: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 63,094 |  |  | $ | 40,656 |  |  | $ | 44,473 |
Europe |  |  | 334,033 |  |  |  | 217,766 |  |  |  | 196,976 |
|  | $ | 397,127 |  |  | $ | 258,422 |  |  | $ | 241,449 |
Deferred tax assets: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 870 |  |  | $ | 886 |  |  | $ | 705 |
Europe |  |  | 7,066 |  |  |  | 7,106 |  |  |  | 7,241 |
Eliminations |  |  | — |  |  |  | 49 |  |  |  | 58 |
|  | $ | 7,936 |  |  | $ | 8,041 |  |  | $ | 8,004 |
INTER PARFUMS, INC. AND SUBSIDIARIES Notes to Consolidated Financial Statements December 31, 2021, 2020 and 2019 (In thousands except share and per share data) United States export sales were approximately $126.2 million, $71.5 million and $112.0 million in 2021, 2020 and 2019, respectively. Consolidated net sales to customers by region are as follows:
|  | Year ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
North America |  | $ | 354,100 |  |  | $ | 193,500 |  |  | $ | 235,500 |
Europe |  |  | 271,600 |  |  |  | 180,200 |  |  |  | 240,800 |
Asia |  |  | 128,000 |  |  |  | 79,700 |  |  |  | 110,900 |
Middle East |  |  | 61,000 |  |  |  | 46,800 |  |  |  | 72,600 |
Central and South America |  |  | 56,400 |  |  |  | 32,500 |  |  |  | 46,200 |
Other |  |  | 8,400 |  |  |  | 6,300 |  |  |  | 7,500 |
|  | $ | 879,500 |  |  | $ | 539,000 |  |  | $ | 713,500 |
Consolidated net sales to customers in major countries are as follows:
|  | Year Ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
United States |  | $ | 351,300 |  |  | $ | 187,300 |  |  | $ | 225,300 |
France |  | $ | 44,000 |  |  | $ | 37,600 |  |  | $ | 43,500 |
Russia |  | $ | 43,400 |  |  | $ | 14,100 |  |  | $ | 36,800 |
United Kingdom |  | $ | 38,500 |  |  | $ | 24,600 |  |  | $ | 35,800 |

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- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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