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Acquisitions (Tables)

12 Months Ended

Jan. 31, 2019

Summary of Changes in Carrying Amount of Goodwill

The changes in the carrying amount of goodwill during the fiscal years ended January 31, 2019, 2018 and 2017 are as follows (in thousands):

		MVMT (1)				City Time(2)				JLB (3)				Total
Balance at January 31, 2017		$	—			$	—			$	—			$	—
Acquisition of JLB			—				—				55,322				55,322
Foreign exchange impact			—				—				4,947				4,947
Balance at January 31, 2018			—				—				60,269				60,269
Acquisition of MVMT			77,542				—				—				77,542
Acquisition of City Time			—				2,833				—				2,833
Foreign exchange impact			—				18				(4,629	)			(4,611	)
Balance at January 31, 2019		$	77,542			$	2,851				55,640				136,033

(1) Goodwill associated with the MVMT brand is included in the United States location of the Watch and Accessory Brands segment.

(2) Goodwill associated with City Time is included in the International location of the Watch and Accessory Brands segment.

(3) Goodwill associated with JLB is included in the International location of the Watch and Accessory Brands segment.

Summary of Changes in Carrying Amount of Other Intangible Assets

The changes in the carrying amount of other intangible assets during the fiscal years ended January 31, 2019, 2018 and 2017 are as follows (in thousands):

		Trade names				Customer relationships				Other (1)				Total
Balance at January 31, 2016		$	—			$	—			$	1,490			$	1,490
Amortization			—				—				(420	)			(420	)
Additions			—				—				328				328
Foreign exchange impact			—				—				235				235
Balance at January 31, 2017			—				—				1,633				1,633
Acquisition of JLB			12,797				8,618				—				21,415
Additions			—				—				556				556
Amortization			(781	)			(876	)			(434	)			(2,091	)
Foreign exchange impact			1,080				715				(184	)			1,611
Balance at January 31, 2018			13,096				8,457				1,571				23,124
Acquisition of MVMT			24,700				4,200				28				28,928
Acquisition of City-Time			—				1,672				—				1,672
Additions			—				—				492				492
Amortization			(2,126	)			(1,628	)			(597	)			(4,351	)
Foreign exchange impact			(899	)			(520	)			(263	)			(1,682	)
Balance at January 31, 2019		$	34,771			$	12,181			$	1,231			$	48,183

(1) Other includes fees paid related to trademarks and non-compete agreement related to Olivia Burton brand.

Summary of Weighted Average Amortization Periods Over Straight-Line Basis

Weighted average amortization periods over a straight-line basis are as follows:  

		In Years
Trade names			10
Customer relationships			7
Other			7

Summary of Estimated Future Amortization Expense

The estimated future amortization expense during each of the next five fiscal years is as follows:

For the fiscal year ending January 31,		(in thousands)
2020		$	6,149
2021			6,036
2022			5,971
2023			5,942
2024			5,071
Thereafter			19,014
Total estimated future amortization expense		$	48,183

MVMT Watches, Inc.

Summary of Fair Value of Assets Acquired and Liabilities Assumed at Acquisition Date

The following table summarizes the fair value of the assets acquired and liabilities assumed as of the October 1, 2018 acquisition date (in thousands):

Assets Acquired and Liabilities Assumed		Fair Value
Cash and cash equivalents		$	3,848
Trade receivables			370
Inventories			14,552
Prepaid expenses and other current assets			2,325
Property, plant and equipment			179
Other non-current assets			6,500
Goodwill			77,542
Trade name and other intangibles			28,928
Total assets acquired			134,244
Accounts payable			5,982
Accrued liabilities			9,018
Other non-current liabilities			7,064
Total liabilities assumed			22,064
Total purchase price		$	112,180

Summary of Unaudited Pro Forma Information

The following table provides the Company’s unaudited pro forma net sales, net income and net income per basic and diluted common share as if the results of operations of the MVMT brand had been included in the Company’s operations commencing on February 1, 2017, based on available information relating to operations of the MVMT brand. This pro forma information is not necessarily indicative either of the combined results of operations that actually would have been realized by the Company had the MVMT brand acquisition been consummated at the beginning of the period for which the pro forma information is presented, or of future results.

		Fiscal Year Ended January 31,
		2019				2018 (1)
(In thousands, except per share data)		(Unaudited)
Net sales		$	712,587			$	639,319
Net income / (loss) attributable to Movado Croup,    Inc. (1)		$	64,118			$	(21,519	)
Basic income per share:
Net income / (loss) per share attributable to Movado    Group, Inc.		$	2.76			$	(0.93	)
Diluted income per share:
Net income / (loss) per share attributable to Movado    Group, Inc.		$	2.72			$	(0.93	)

(1) Includes non-recurring transaction costs of $7.0 million associated with the acquisition.  

JLB Brands Ltd

Summary of Fair Value of Assets Acquired and Liabilities Assumed at Acquisition Date

The following table summarizes the fair value of the assets acquired and liabilities assumed as of the July 3, 2017 acquisition date (in thousands):

Assets Acquired and Liabilities Assumed		Fair Value
Cash and cash equivalents		$	5,909
Trade receivables, net			3,106
Inventories			4,164
Prepaid expenses and other current assets			913
Property, plant and equipment, net			131
Goodwill			55,322
Trade name and other intangibles			21,415
Total assets acquired			90,960
Accounts payable			608
Accrued liabilities			844
Income taxes payable			643
Deferred and non-current income taxes payable			3,965
Total liabilities assumed			6,060
Total purchase price		$	84,900

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