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The Company and its Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2023
Accounting Policies [Abstract] |
Substantially all of our prestige fragrance brands are licensed from unaffiliated third parties, and our business is dependent upon the continuation and renewal of such licenses. With respect to the Company’s largest brands, we license the Jimmy Choo, Montblanc, Coach and GUESS brand names. As a percentage of net sales, product sales for the Company’s largest brands were as follows: | Substantially all of our prestige fragrance brands are licensed from unaffiliated third parties, and our business is dependent upon the continuation and renewal of such licenses. With respect to the Company’s largest brands, we license the Jimmy Choo, Montblanc, Coach and GUESS brand names. As a percentage of net sales, product sales for the Company’s largest brands were as follows:
|  | Year Ended December 31,
|  | 2023 |  | 2022 |  | 2021
Jimmy Choo |  |  | 17 | % |  |  | 18 | % |  |  | 18 | %
Montblanc |  |  | 17 | % |  |  | 18 | % |  |  | 19 | %
Coach |  |  | 15 | % |  |  | 15 | % |  |  | 16 | %
GUESS |  |  | 12 | % |  |  | 12 | % |  |  | 12 | %
Donna Karan/DKNY |  |  | 7 | % |  |  | 3 | % |  |  | — |
Ferragamo |  |  | 5 | % |  |  | 5 | % |  |  | 1 | %
The following table presents a summary of the impact by financial statement line item of the corrections for the year ended December 31, 2022: | The following table presents a summary of the impact by financial statement line item of the corrections for the year ended December 31, 2022:
|  | For the Year Ended December 31, 2022 |
Consolidated Statement of Cash Flow |  | As previously reported |  |  | Adjustment |  |  | As revised |
(in thousands) |  |  |  |  |  |  |  |  |  |  |  |
Change in Accounts payable and accrued expenses |  |  | 106,857 |  |  |  | (42,119 | ) |  |  | 64,738 |
Net cash provided by operating activities |  |  | 115,150 |  |  |  | (42,119 | ) |  |  | 73,031 |
Payments for intangible assets acquired |  |  | (98,865 | ) |  |  | 42,119 |  |  |  | (56,746 | )
Net cash used in investing activities |  |  | (132,763 | ) |  |  | 42,119 |  |  |  | (90,644 | )

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