XML 41 R22.htm IDEA: XBRL DOCUMENT v3.22.0.1
Segments and Geographic Areas
 12 Months Ended
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