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Stockholders' Equity and Redeemable Noncontrolling Interests | 9 Months Ended
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Oct. 27, 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 nine months ended October 27, 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 |  | 380 |  | — |  | 380 |  | — |
Issuance of stock under ESPP |  | 983 |  | — |  | 983 |  | — |
Share-based compensation |  | 12,662 |  | — |  | 12,662 |  | — |
Dividends |  | (53,087 | ) | — |  | (53,087 | ) | — |
Share repurchases |  | (140,262 | ) | — |  | (140,262 | ) | — |
Purchase of redeemable noncontrolling interest |  | 4,857 |  | (4,857 | ) | — |  | (4,185 | )
Noncontrolling interest capital contribution |  | — |  | 1,279 |  | 1,279 |  | — |
Noncontrolling interest capital distribution |  | — |  | (3,086 | ) | (3,086 | ) | — |
Redeemable non-controlling interest redemption value adjustment |  | 1,328 |  | (217 | ) | 1,111 |  | (1,111 | )
Comprehensive income (loss): |  |  |  |  |  |  |  |  |
Net earnings |  | 106,192 |  | 1,429 |  | 107,621 |  | — |
Foreign currency translation adjustment |  | (8,842 | ) | (196 | ) | (9,038 | ) | (92 | )
Unrealized loss on hedges, net of income tax of $419 |  | (1,629 | ) | — |  | (1,629 | ) | — |
Unrealized gain on investments, net of income tax of ($120) |  | 196 |  | — |  | 196 |  | — |
SERP prior service cost and actuarial valuation amortization, net of income tax of ($1,134) |  | 1,836 |  | — |  | 1,836 |  | — |
Balances at October 27, 2012 |  | $ | 1,100,244 |  | $ | 12,987 |  | $ | 1,113,231 |  | $ | 2,905 |
Redeemable Noncontrolling Interests The Company is party to a put arrangement with respect to the common securities that represent the remaining noncontrolling interest from the acquisition of its majority-owned subsidiary, Guess Sud SAS (“Guess Sud”). 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 noncontrolling interest holders by providing written notice to the Company any time after January 30, 2012. The put arrangement is recorded on the balance sheet at its expected redemption value and classified as a redeemable noncontrolling interest outside of permanent equity. On May 15, 2012, the Company and the noncontrolling interest holders executed an amendment to the Guess Sud put arrangement which modified the put price to be based on the value of specified net tangible and intangible assets of Guess Sud instead of being based on a multiple of Guess Sud’s earnings before interest, taxes, depreciation and amortization. The redemption value of the Guess Sud redeemable put arrangement was $2.9 million and $4.1 million at October 27, 2012 and January 28, 2012, respectively. The Company was previously party to a put arrangement in connection with its now wholly-owned subsidiary, Focus Europe S.r.l. (“Focus”). Under the terms of this put arrangement, which represented 25% of the total outstanding interest of that subsidiary, the noncontrolling interest holder had the option to exercise the put arrangement at its discretion by providing written notice to the Company no later than June 27, 2012. The redemption value of the put arrangement was determined based on a multiple of Focus’s net earnings. In June 2012, the noncontrolling interest holder notified the Company of its intent to exercise the put arrangement. On July 9, 2012, the Company paid $4.2 million to the noncontrolling interest holder to acquire the remaining 25% interest in Focus. This amount was determined based on a multiple of Focus’s net earnings in accordance with the terms of the put arrangement. As of January 28, 2012, the redemption value related to the Focus put arrangement was $4.2 million and was included in redeemable noncontrolling interests.

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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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