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Note I - Stock-Based Compensation | 12 Months Ended
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Dec. 31, 2011
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Note I – Stock-Based Compensation In March 2006, the Board of Directors approved the Steven Madden, Ltd. 2006 Stock Incentive Plan (the “Plan”) under which nonqualified stock options, stock appreciation rights, performance shares, restricted stock, other stock-based awards and performance-based cash awards may be granted to employees, consultants and non-employee directors. The stockholders approved the Plan on May 26, 2006. On May 25, 2007, the stockholders approved an amendment to the Plan to increase the maximum number of shares that may be issued under the Plan from 2,700,000 to 3,487,500. On May 22, 2009, the stockholders approved a second amendment to the Plan that increased the maximum number of shares that may be issued under the Plan to 9,144,000. The following table summarizes the number of shares of common stock authorized for use under the Plan, the number of stock-based awards granted (net of expired or cancelled awards) under the Plan and the number of shares of common stock available for the grant of stock-based awards under the Plan:
Common Stock authorized |  |  | 9,144,000 |
Stock based awards, including restricted stock and stock options granted, net of expired or cancelled |  |  | 6,449,000 |
Common Stock available for grant of stock based awards as of December 31, 2011 |  |  | 2,695,000 |
In accordance with accounting guidance relating to stock-based compensation, the Company records compensation for all awards based on the fair value of options and restricted stock on the date of grant. Equity-based compensation is included in operating expenses on the Company’s Consolidated Statements of Income. For the years ended December 31, 2011, 2010 and 2009, total equity-based compensation was as follows:
|  | Years Ended December 31, |
|  | 2011 |  |  | 2010 |  |  | 2009 |
Stock options |  | $ | 5,787 |  |  | $ | 3,724 |  |  | $ | 1,560 |
Restricted stock |  |  | 5,617 |  |  |  | 4,547 |  |  |  | 4,380 |
Total |  | $ | 11,404 |  |  | $ | 8,271 |  |  | $ | 5,940 |
Note I – Stock-Based Compensation (continued) The Company classifies cash flows resulting from the tax benefits from tax deductions in excess of the compensation costs recognized for those options (tax benefits) as financing cash flows. For the years ended December 31, 2011, 2010 and 2009, the Company realized a tax benefit from the exercise of stock options of $4,154, $4,718 and $497, respectively. Stock Options The total intrinsic value of options exercised during 2011, 2010 and 2009 amounted to $10,768, $11,684 and $5,300 respectively. During the years ended December 31, 2011, 2010 and 2009, 860,000 options with a weighted average exercise price of $15.92, 587,000 options with a weighted average exercise price of $11.20 and 214,000 options with a weighted average exercise price of $8.69 vested, respectively. As of December 31, 2011, there were 1,839,000 unvested options with a total unrecognized compensation cost of $9,309 that is expected to be recognized over a weighted-average of 2.4 years. The Company estimates the fair value of options granted using the Black-Scholes option-pricing model, which requires several assumptions. The expected term of the options represents the estimated period of time until exercise and is based on historical experience of similar awards. Expected volatility is based on the historical volatility of the Company’s stock. The risk free interest rate is based on the U.S. Treasury yield curve in effect at the time of the grant. With the exception of a special dividend paid in November of 2005 and in November of 2006, the Company historically has not paid dividends and thus the expected dividend rate is assumed to be zero. The weighted average fair value of options granted in 2011, 2010 and 2009 was approximately $10.97, $8.53 and $4.19, respectively, using the Black-Scholes option-pricing model with the following assumptions:
|  | 2011 |  |  | 2010 |  |  | 2009 |
Volatility |  | 43% to 49% |  |  | 47% to 52% |  |  | 49% to 52% |
Risk free interest rate |  | 0.61% to 1.78% |  |  | 0.84% to 2.16% |  |  | 1.39% to 2.09% |
Expected life in years |  | 2 to 4 |  |  | 3 to 4 |  |  | 3 to 4 |
Dividend yield |  | 0 |  |  | 0 |  |  | 0 |
Note I – Stock-Based Compensation (continued) Activity relating to stock options granted under the Company’s plans and outside the plans during the three years ended December 31, 2011 is as follows:
|  | Number of Shares |  |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term |  | Aggregate Intrinsic Value
Outstanding at January 1, 2009 |  |  | 1,737,000 |  |  | $ | 7.19 |  |  |  |
Granted |  |  | 1,320,000 |  |  |  | 10.42 |  |  |  |
Exercised |  |  | (594,000 | ) |  |  | 6.44 |  |  |  |
Cancelled/Forfeited |  |  | (40,000 | ) |  |  | 7.73 |  |  |  |
Outstanding at December 31, 2009 |  |  | 2,423,000 |  |  |  | 9.12 |  |  |  |
Granted |  |  | 971,000 |  |  |  | 22.49 |  |  |  |
Exercised |  |  | (647,000 | ) |  |  | 8.00 |  |  |  |
Cancelled/Forfeited |  |  | (44,000 | ) |  |  | 16.03 |  |  |  |
Outstanding at December 31, 2010 |  |  | 2,703,000 |  |  |  | 14.08 |  |  |  |
Granted |  |  | 618,000 |  |  |  | 29.93 |  |  |  |
Exercised |  |  | (439,000 | ) |  |  | 11.39 |  |  |  |
Cancelled/Forfeited |  |  | (179,000 | ) |  |  | 19.42 |  |  |  |
Outstanding at December 31, 2011 |  |  | 2,703,000 |  |  | $ | 17.79 |  | 4.6 years |  | $ 45,397
Exercisable at December 31, 2011 |  |  | 863,000 |  |  | $ | 15.36 |  | 4.0 years |  | $ 16,613
The following table summarizes information about stock options at December 31, 2011:
|  | Options Outstanding |  | Options Exercisable |
Range of Exercise Price |  | Number Outstanding |  | Weighted Average Remaining Contractual Life (in Years) |  | Weighted Average Exercise Price |  | Number Exercisable |  | Weighted Average Exercise Price |
| $ 5.25 to $11.85 |  | 1,050,000 |  | 3.8 |  | $ | 8.27 |  | 436,000 |  | $ | 8.11 |
| $11.86 to $18.45 |  | 442,000 |  | 4.6 |  |  | 15.54 |  | 152,000 |  |  | 15.32 |
| $18.46 to $25.05 |  | 529,000 |  | 4.9 |  |  | 23.27 |  | 184,000 |  |  | 23.24 |
| $25.06 to $31.65 |  | 500,000 |  | 6.0 |  |  | 27.43 |  | 17,000 |  |  | 26.95 |
| $31.66 to $38.25 |  | 182,000 |  | 4.6 |  |  | 35.81 |  | 75,000 |  |  | 35.62 |
|  |  | 2,703,000 |  | 4.6 |  | $ | 17.79 |  | 863,000 |  | $ | 15.36 |
Note I – Stock-Based Compensation (continued) Restricted Stock The following table summarizes restricted stock activity during the three years ended December 31, 2011:
|  | Number of Shares |  |  | Weighted Average Fair Value at Grant Date |
Outstanding at January 1, 2009 |  |  | 806,000 |  |  | $ | 13.13 |
Granted |  |  | 201,000 |  |  |  | 15.61 |
Vested |  |  | (329,000 | ) |  |  | 11.49 |
Forfeited |  |  | (7,000 | ) |  |  | 16.26 |
Outstanding at December 31, 2009 |  |  | 671,000 |  |  |  | 13.98 |
Granted |  |  | 254,000 |  |  |  | 23.39 |
Vested |  |  | (348,000 | ) |  |  | 13.01 |
Forfeited |  |  | (15,000 | ) |  |  | 18.99 |
Outstanding at December 31, 2010 |  |  | 562,000 |  |  |  | 17.20 |
Granted |  |  | 383,000 |  |  |  | 31.65 |
Vested |  |  | (239,000 | ) |  |  | 15.56 |
Forfeited |  |  | (35,000 | ) |  |  | 28.44 |
Outstanding at December 31, 2011 |  |  | 671,000 |  |  | $ | 25.44 |
As of December 31, 2011, there was $13,335 of total unrecognized compensation cost related to restricted stock awards granted under the Plan. This cost is expected to be recognized over a weighted-average of 2.9 years. On January 3, 2012, the Company and its Creative and Design Chief, Steven Madden, entered into an amendment of Mr. Madden’s existing employment agreement, pursuant to which, on February 8, 2012, Mr. Madden was granted 975,371 restricted shares of the Company’s common stock, which will vest in equal annual installments over a seven-year period commencing on December 31, 2017 and, thereafter, on each December 31 st through December 31, 2023, subject to Mr. Madden’s continued employment on each such vesting date. The Company determines the fair value of its restricted stock awards based on the market price of its common stock on the date of grant. The fair value of the restricted stock that vested during the years ended December 31, 2011, 2010 and 2009 was $3,718, $4,537 and $4,223, respectively.

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Statement of Position (SOP) -Number 93-6 -Paragraph 53 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 123R -Paragraph 64, 65, A240 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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