XML 42 R24.htm IDEA: XBRL DOCUMENT v3.3.1.900
Operating Segment Information
 12 Months Ended
Dec. 31, 2015
Segment Reporting [Abstract]  
Operating Segment Information
Operating Segment Information
 
The Company operates the following business segments: Wholesale Footwear, Wholesale Accessories, Retail, First Cost and Licensing. The Wholesale Footwear segment, through sales to department stores, mid-tier retailers, mass market merchants, online retailers and specialty stores, derives revenue, both domestically and worldwide (via our International business), from sales of branded and private label women’s, men’s, girls’ and children’s footwear. The Wholesale Accessories segment, which includes branded and private label handbags, belts and small leather goods as well as cold weather and selected other fashion accessories, derives revenue, both domestically and worldwide (via our International business), from sales to department stores, mid-tier retailers, mass market merchants, online retailers and specialty stores. Our Wholesale Footwear and Wholesale Accessories segments, through our International business, derive revenue from Canada, Mexico and South Africa and, under special distribution arrangements, from Asia, Australia, Europe, the Middle East, India, South and Central America and New Zealand. The Retail segment, through the operation of Company-owned retail stores in the United States, Canada, Mexico and South Africa and the Company’s websites, derives revenue from sales of branded women’s, men’s and children’s footwear, accessories and licensed products to consumers. The First Cost segment represents activities of a subsidiary that earns commissions and design fees for


Note P – Operating Segment Information (continued)

serving as a buying agent of footwear products to mass-market merchandisers, mid-tier department stores and other retailers with respect to their purchase of footwear. In the Licensing segment, the Company generates revenue by licensing its Steve Madden®,
Steven by Steve Madden® and Madden Girl® trademarks and other trademark rights for use in connection with the manufacture, marketing and sale of outerwear, hosiery, activewear, sleepwear, jewelry, watches, hair accessories, umbrellas, bedding, luggage,
and men’s leather accessories. In addition, this segment licenses the Betsey Johnson®, Betseyville® and Dolce Vita® trademarks for use in connection with the manufacture, marketing and sale of women's and children’s apparel, hosiery, swimwear, outerwear, sleepwear, activewear, jewelry, watches, bedding, luggage, stationary, umbrellas, and household goods.


Year ended
 
Wholesale Footwear
 
Wholesale Accessories
 
Total Wholesale
 
Retail
 
First Cost
 
Licensing
 
Corporate
 
Consolidated
December 31, 2015:
 
 

 
 

 
 

 
 

 
 

 
 

 
 
 
 

Net sales
 
$
905,821

 
$
259,106

 
$
1,164,927

 
$
240,312

 
$
—

 
$
—

 
$
—

 
$
1,405,239

Gross profit
 
268,307

 
85,876

 
354,183

 
146,309

 
—

 
—

 
—

 
500,492

Commissions and licensing fees – net
 
—

 
—

 
—

 
—

 
6,795

 
9,852

 
—

 
16,647

Income from operations
 
97,079

 
38,220

 
135,299

 
19,702

 
6,795

 
9,852

 
—

 
171,648

Depreciation and amortization
 
 
 
 
 
12,624

 
7,897

 
236

 
—

 
—

 
20,757

Segment assets
 
$
515,953

 
$
185,558

 
701,511

 
163,735

 
49,139

 
—

 
—

 
914,385

Capital expenditures
 
 
 
 
 
$
7,237

 
$
12,222

 
$
—

 
$
—

 
$
—

 
$
19,459

December 31, 2014:
 
 

 
 

 


 
 

 
 

 
 

 
 
 


Net sales
 
$
881,041

 
$
246,608

 
$
1,127,649

 
$
207,302

 
$
—

 
$
—

 
$
—

 
$
1,334,951

Gross profit
 
259,764

 
84,640

 
344,404

 
124,596

 
—

 
—

 
—

 
469,000

Commissions and licensing fees – net
 
—

 
—

 
—

 
—

 
6,438

 
7,285

 
$
—

 
13,723

Income from operations
 
105,593

 
38,773

 
144,366

 
9,553

 
6,438

 
7,285

 
—

 
167,642

Depreciation and amortization
 
 
 
 
 
7,963

 
6,887

 
227

 
—

 
—

 
15,077

Segment assets
 
$
526,420

 
$
190,237

 
716,657

 
146,927

 
47,651

 
—

 
—

 
911,235

Capital expenditures
 
 
 
 
 
$
10,188

 
$
8,153

 
$
—

 
$
—

 
$
—

 
$
18,341

December 31, 2013
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net sales
 
$
860,448

 
$
244,163

 
$
1,104,611

 
$
209,612

 
$
—

 
$
—

 
$
—

 
$
1,314,223

Gross profit
 
263,864

 
89,307

 
353,171

 
129,205

 
—

 
—

 
—

 
482,376

Commissions and licensing fees – net
 
—

 
—

 
—

 
—

 
7,988

 
7,644

 
—

 
15,632

Income from operations
 
116,951

 
44,738

 
161,689

 
25,464

 
7,988

 
7,644

 
983

 
203,768

Depreciation and amortization
 
 
 
 
 
6,659

 
5,542

 
116

 
—

 
662

 
12,979

Segment assets
 
$
537,609

 
$
152,553

 
690,162

 
129,549

 
60,530

 
—

 
—

 
880,241

Capital expenditures
 
 
 
 
 
$
9,276

 
$
11,470

 
$
—

 
$
—

 
$
—

 
$
20,746


Note P – Operating Segment Information (continued)
Revenues by geographic area are as follows: 
 
 
 
 
 
 
 
Year Ended December 31,
 
 
2015
 
2014
 
2013
Domestic (a)
 
$
1,255,668

 
$
1,222,721

 
$
1,200,797

International
 
149,571

 
112,230

 
113,426

Total
 
$
1,405,239

 
$
1,334,951

 
$
1,314,223

(a) Includes revenues of $329,089, $319,089 and $315,154 for the years ended 2015, 2014 and 2013 related to sales to U.S. customers where the title is transferred outside the U.S. and the sale is recorded by our International subsidiary.