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Stock-Based Compensation (Tables) | 9 Months Ended
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Sep. 30, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Intangible Assets, Future Amortization Expense | The estimated future amortization expense for intangibles as of September 30, 2024 was as follows:
2024 (remaining three months) | $ | 907 |
2025 | 3,626 |
2026 | 2,876 |
2027 | 2,633 |
2028 | 2,598 |
Thereafter | 18,869 |
Total | $ | 31,509 |
Schedule of Goodwill | The following provides a rollforward of the carrying amount of goodwill by reporting unit for the period ended September 30, 2024:
|  | Wholesale |  |  |  | Net Carrying Amount
|  | Footwear |  | Accessories/ Apparel |  | Direct-to-Consumer (1) |
Balance at January 1, 2024 |  | $ | 90,663 |  |  | $ | 73,625 |  |  | $ | 15,715 |  |  | $ | 180,003 |
Acquisitions and divestitures |  | — |  |  | 641 |  |  | 2,383 |  |  | 3,024 |
Translation |  | (136) |  |  | — |  |  | (986) |  |  | (1,122) |
Balance at September 30, 2024 |  | $ | 90,527 |  |  | $ | 74,266 |  |  | $ | 17,112 |  |  | $ | 181,905 |
(1)During the third quarter of 2024, we completed the sale of our GREATS® business, which was previously included within our Direct-to-Consumer reporting unit. Goodwill decreased $700 related to the divestiture. See Note C – Acquisitions, Divestitures, and Purchases and Sales of Joint Ventures, for further information.
Schedule of Indentifiable Intangible Assets | The following table details identifiable intangible assets as of September 30, 2024:
|  | Estimated Lives(1) |  | Cost Basis |  | Accumulated Amortization |  | Impairment & Other(1)(2)(3)(4) |  | Net Carrying Amount
Trademarks |  | 10-20 years |  | $ | 32,195 |  |  | $ | (16,652) |  |  | $ | (15,543) |  |  | $ | — |
Customer relationships |  | 10-20 years |  | 62,580 |  |  | (29,457) |  |  | (2,603) |  |  | 30,520 |
Re-acquired rights |  | 2 years |  | 1,450 |  |  | (461) |  |  | — |  |  | 989 |
|  |  |  | 96,225 |  |  | (46,570) |  |  | (18,146) |  |  | 31,509 |
Re-acquired right |  | indefinite |  | 35,200 |  |  | — |  |  | (8,908) |  |  | 26,292 |
Trademarks |  | indefinite |  | 58,833 |  |  | — |  |  | (8,326) |  |  | 50,507 |
|  |  |  | $ | 190,258 |  |  | $ | (46,570) |  |  | $ | (35,380) |  |  | $ | 108,308 |
(1) During the first quarter of 2024, the Company changed its estimate of useful life of its GREATS® trademark from indefinite to 10 years. As a result, the Company reassessed the carrying amount of its GREATS® trademark for impairment in accordance with ASC 350, Intangibles – Goodwill and Other. Based on this assessment, the Company determined that the GREATS® trademark was impaired and recognized an impairment charge of $1,700, which was recorded within Impairment of intangibles in our Condensed Consolidated Statement of Income for the nine months ended September 30, 2024. The Company started amortizing the GREATS® trademark over its revised useful life beginning in the second quarter of 2024. (2) During the third quarter of 2024, the Company completed the sale of its GREATS® business. As part of the divestiture, the remaining carrying amounts of the net intangible assets of GREATS®, which included a trademark of $4,287 and customer relationships of $861, were written off, resulting in a total charge of $5,148, which was recorded within operating expenses in our Condensed Consolidated Statements of Income for the three and nine months ended September 30, 2024. See Note C – Acquisitions, Divestitures, and Purchases and Sales of Joint Ventures, for further information. (3) During the third quarter of 2024, the Company decided to discontinue the use of its Almost Famous brand and transition its marketing and sales efforts under the Madden Girl brand. As a result of this decision, the Company reassessed the carrying amount of its Almost Famous trademark for impairment in accordance with ASC 350, Intangibles – Goodwill and Other. Based on this assessment, the Company determined that the estimated future cash flows related to the Almost Famous trademark was less than its carrying value, and therefore, the asset was impaired. As such, the Company recognized an impairment charge of $8,635, representing the remaining carrying amount of the asset, which was recorded within Impairment of intangibles in our Condensed Consolidated Statements of Income for the three and nine months ended September 30, 2024. Prior to writing off the Almost Famous trademark, it was recorded within our Wholesale Apparel/Accessories segment. (4) Includes the effect of foreign currency translation related primarily to the movements of the Canadian dollar and Mexican peso in relation to the U.S. dollar. The following table details identifiable intangible assets as of December 31, 2023:
|  | Estimated Lives |  | Cost Basis(1) |  | Accumulated Amortization |  | Impairment & Other(2)(3) |  | Net Carrying Amount
Trademarks |  | 20 years |  | $ | 27,745 |  |  | $ | (16,263) |  |  | $ | (2,545) |  |  | $ | 8,937 |
Customer relationships |  | 10-20 years |  | 62,580 |  |  | (27,267) |  |  | (1,382) |  |  | 33,931 |
|  |  |  | 90,325 |  |  | (43,530) |  |  | (3,927) |  |  | 42,868 |
Re-acquired right |  | indefinite |  | 35,200 |  |  | — |  |  | (8,862) |  |  | 26,338 |
Trademarks |  | indefinite |  | 63,283 |  |  | — |  |  | (6,222) |  |  | 57,061 |
|  |  |  | $ | 188,808 |  |  | $ | (43,530) |  |  | $ | (19,011) |  |  | $ | 126,267 |
(1) During the year ended December 31, 2023, the Company acquired Almost Famous, which consisted of a trademark of $9,050 and customer relationships of $23,900, both of which are amortized over 20 years. (2) During the year ended December 31, 2023, the Company recorded an impairment charge of $6,520 related to the GREATS® trademark. (3) Includes the effect of foreign currency translation related primarily to the movements of the Canadian dollar and Mexican peso in relation to the U.S. dollar.

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