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Segments and Geographic Areas | 12 Months Ended
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Dec. 31, 2023
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 based operations primarily represent the sale of prestige brand name fragrances. Information on the Company’s operations by segments is as follows:
|  | Year ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 455,758 |  |  | $ | 342,644 |  |  | $ | 216,559 |
Europe |  |  | 863,397 |  |  |  | 744,075 |  |  |  | 663,290 |
Eliminations of intercompany sales |  |  | (1,480 | ) |  |  | (66 | ) |  |  | (333 | )
|  | $ | 1,317,675 |  |  | $ | 1,086,653 |  |  | $ | 879,516 |
Net income attributable to Inter Parfums, Inc.: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 63,781 |  |  | $ | 43,745 |  |  | $ | 29,359 |
Europe |  |  | 89,250 |  |  |  | 77,193 |  |  |  | 57,869 |
Eliminations |  |  | (377 | ) |  |  | — |  |  |  | 183 |
|  | $ | 152,654 |  |  | $ | 120,938 |  |  | $ | 87,411 |
Depreciation and amortization expense including impairment loss: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 6,517 |  |  | $ | 6,355 |  |  | $ | 3,835 |
Europe |  |  | 10,814 |  |  |  | 16,184 |  |  |  | 8,863 |
|  | $ | 17,331 |  |  | $ | 22,539 |  |  | $ | 12,698 |
Interest and investment income: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 346 |  |  | $ | 66 |  |  | $ | 3 |
Europe |  |  | 10,810 |  |  |  | 5,769 |  |  |  | 3,526 |
Eliminations |  |  | (427 | ) |  |  | (349 | ) |  |  | (126 | )
|  | $ | 10,729 |  |  | $ | 5,486 |  |  | $ | 3,403 |
Interest expense: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 1,351 |  |  | $ | 1,100 |  |  | $ | 636 |
Europe |  |  | 10,329 |  |  |  | 2,848 |  |  |  | 2,315 |
Eliminations |  |  | (427 | ) |  |  | (349 | ) |  |  | (126 | )
|  | $ | 11,253 |  |  | $ | 3,599 |  |  | $ | 2,825 |
Income tax expense: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 15,180 |  |  | $ | 6,920 |  |  | $ | 5,336 |
Europe |  |  | 46,763 |  |  |  | 36,262 |  |  |  | 35,607 |
Eliminations |  |  | (126 | ) |  |  | — |  |  |  | 49 |
|  | $ | 61,817 |  |  | $ | 43,182 |  |  | $ | 40,992 |
|  | December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Total assets: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 344,341 |  |  | $ | 278,090 |  |  | $ | 247,703 |
Europe |  |  | 1,066,684 |  |  |  | 1,052,004 |  |  |  | 931,735 |
Eliminations |  |  | (41,696 | ) |  |  | (21,552 | ) |  |  | (34,074 | )
|  | $ | 1,369,329 |  |  | $ | 1,308,542 |  |  | $ | 1,145,364 |
Additions to long-lived assets: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 1,277 |  |  | $ | 2,318 |  |  | $ | 2,711 |
Europe |  |  | 5,188 |  |  |  | 31,438 |  |  |  | 138,563 |
|  | $ | 6,465 |  |  | $ | 33,756 |  |  | $ | 141,274 |
Total long-lived assets: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 57,372 |  |  | $ | 61,539 |  |  | $ | 63,094 |
Europe |  |  | 436,819 |  |  |  | 423,999 |  |  |  | 334,033 |
|  | $ | 494,191 |  |  | $ | 485,538 |  |  | $ | 397,127 |
Deferred tax assets: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 2,175 |  |  | $ | 2,906 |  |  | $ | 870 |
Europe |  |  | 12,244 |  |  |  | 8,253 |  |  |  | 7,066 |
Eliminations |  |  | 126 |  |  |  | — |  |  |  | — |
|  | $ | 14,545 |  |  | $ | 11,159 |  |  | $ | 7,936 |
United States export sales were approximately $230.5 million, $180.0 million and $133.4 million in 2023, 2022 and 2021, respectively. Consolidated net sales to customers by region are as follows: Consolidated net sales to customers by region are as follows:
|  | Year ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
North America |  | $ | 511,700 |  |  | $ | 421,000 |  |  | $ | 346,900 |
Europe |  |  | 404,400 |  |  |  | 333,400 |  |  |  | 271,600 |
Asia |  |  | 191,800 |  |  |  | 163,600 |  |  |  | 135,200 |
Middle East |  |  | 107,300 |  |  |  | 87,800 |  |  |  | 61,000 |
Central and South America |  |  | 92,700 |  |  |  | 69,900 |  |  |  | 56,400 |
Other |  |  | 9,800 |  |  |  | 11,000 |  |  |  | 8,400 |
|  | $ | 1,317,700 |  |  | $ | 1,086,700 |  |  | $ | 879,500 |
Consolidated net sales to customers in major countries are as follows:
|  | Year Ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
United States |  | $ | 493,200 |  |  | $ | 410,000 |  |  | $ | 344,100 |
France |  | $ | 51,000 |  |  | $ | 44,800 |  |  | $ | 44,000 |
Russia |  | $ | 50,100 |  |  | $ | 33,964 |  |  | $ | 43,400 |
United Kingdom |  | $ | 47,500 |  |  | $ | 37,900 |  |  | $ | 38,500 |

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