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Stockholders' Equity and Redeemable Noncontrolling Interests | 3 Months Ended
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Apr. 28, 2012
Stockholders' Equity and Redeemable Noncontrolling Interests |
Stockholders' Equity and Redeemable Noncontrolling Interests |
(3) Stockholders’ Equity and Redeemable Noncontrolling Interests A reconciliation of the total carrying amount of total stockholders’ equity, Guess?, Inc. stockholders’ equity and stockholders’ equity attributable to nonredeemable and redeemable noncontrolling interests for the fiscal year ended January 28, 2012 and three months ended April 28, 2012 is as follows (in thousands):
|  | Stockholders’ Equity |  |  |
|  | Guess?, Inc. Stockholders’ Equity |  | Nonredeemable Noncontrolling Interests |  | Total |  | Redeemable Noncontrolling Interests |
Balances at January 29, 2011 |  | $ | 1,054,876 |  | $ | 11,318 |  | $ | 1,066,194 |  | $ | 14,711 |
Issuance of common stock under stock compensation plans, net of tax effect |  | 2,923 |  | — |  | 2,923 |  | — |
Issuance of stock under ESPP |  | 1,377 |  | — |  | 1,377 |  | — |
Share-based compensation |  | 28,100 |  | — |  | 28,100 |  | — |
Dividends |  | (74,166 | ) | — |  | (74,166 | ) | — |
Share repurchases |  | (92,082 | ) | — |  | (92,082 | ) | — |
Redeemable noncontrolling interest redemption value adjustment |  | 3,721 |  | 2,051 |  | 5,772 |  | (5,772 | )
Comprehensive income (loss): |  |  |  |  |  |  |  |  |
Net earnings |  | 265,500 |  | 5,150 |  | 270,650 |  | — |
Foreign currency translation adjustment |  | (17,569 | ) | 116 |  | (17,453 | ) | (646 | )
Unrealized gain on hedges, net of income tax of ($1,170) |  | 6,048 |  | — |  | 6,048 |  | — |
Unrealized loss on investments, net of income tax of $24 |  | (43 | ) | — |  | (43 | ) | — |
SERP prior service cost amortization, curtailment and actuarial valuation loss and related amortization, net of income tax of $2,057 |  | (3,055 | ) | — |  | (3,055 | ) | — |
Balances at January 28, 2012 |  | $ | 1,175,630 |  | $ | 18,635 |  | $ | 1,194,265 |  | $ | 8,293 |
Issuance of common stock under stock compensation plans, net of tax effect |  | (156 | ) | — |  | (156 | ) | — |
Issuance of stock under ESPP |  | 370 |  | — |  | 370 |  | — |
Share-based compensation |  | 4,802 |  | — |  | 4,802 |  | — |
Dividends |  | (17,988 | ) | — |  | (17,988 | ) | — |
Noncontrolling interest capital contribution |  | — |  | 1,279 |  | 1,279 |  |  |
Redeemable non-controlling interest redemption value adjustment |  | (2,662 | ) | 639 |  | (2,023 | ) | 2,023 |
Comprehensive income (loss): |  |  |  |  |  |  |  |  |
Net earnings |  | 26,646 |  | 567 |  | 27,213 |  | — |
Foreign currency translation adjustment |  | 2,718 |  | 2 |  | 2,720 |  | 26 |
Unrealized loss on hedges, net of income tax of $701 |  | (2,794 | ) | — |  | (2,794 | ) | — |
Unrealized gain on investments, net of income tax of ($89) |  | 143 |  | — |  | 143 |  | — |
SERP prior service cost and actuarial valuation amortization, net of income tax of ($378) |  | 612 |  | — |  | 612 |  | — |
Balances at April 28, 2012 |  | $ | 1,187,321 |  | $ | 21,122 |  | $ | 1,208,443 |  | $ | 10,342 |
Redeemable Noncontrolling Interests In connection with the acquisition of two majority-owned subsidiaries, the Company is party to put arrangements with respect to the common securities that represent the remaining noncontrolling interests of the acquired companies. Each put arrangement is exercisable by the counter-party outside the control of the Company by requiring the Company to redeem the counterparty’s entire equity stake in the subsidiary at a put price based on a multiple of earnings formula. Each put arrangement is recorded on the balance sheet at its expected redemption value and classified as a redeemable noncontrolling interest outside of permanent equity. As of April 28, 2012, the redeemable noncontrolling interests of $10.3 million were composed of redemption values related to the Focus Europe S.r.l. (“Focus”) and Guess Sud SAS (“Guess Sud”) put arrangements of $3.5 million and $6.8 million, respectively. As of January 28, 2012, the redeemable noncontrolling interests of $8.3 million were composed of redemption values related to the Focus and Guess Sud put arrangements of $4.2 million and $4.1 million, respectively. The put arrangement for Focus, representing 25% of the total outstanding equity interest of that subsidiary, may be exercised at the discretion of the minority owner by providing written notice to the Company no later than June 27, 2012. The redemption value of the Focus put arrangement calculated as of April 28, 2012 is based on a multiple of Focus’s net earnings. The put arrangement for Guess Sud, representing 40% of the total outstanding equity interest of that subsidiary, may be exercised at the discretion of the minority owners by providing written notice to the Company anytime after January 30, 2012. The redemption value of the Guess Sud put arrangement calculated as of April 28, 2012 is based on a multiple of Guess Sud’s earnings before interest, taxes, depreciation and amortization.

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- Definition The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30, 31 -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 4.E) -URI http://asc.fasb.org/extlink&oid=6228006&loc=d3e74512-122707 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SAB TOPIC 4.C) -URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187143-122770 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 129 -Paragraph 2, 3, 4, 5, 6, 7, 8 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. 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Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Article 4 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187085-122770 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section C Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29-31) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Article 4 -Section 08 -Paragraph d Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section E Reference 16: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656 Reference 17: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 18: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(d),(e)) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690 Reference 19: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 43 -Chapter 1 -Section B -Paragraph 7, 11A -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. 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