XML 66 R2.htm IDEA: XBRL DOCUMENT v3.20.1
CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Apr. 30, 2020
Jan. 31, 2020
Apr. 30, 2019
Current assets:      
Cash and cash equivalents $ 187,830 $ 185,872 $ 150,712
Trade receivables, net 49,765 78,388 85,715
Inventories 177,832 171,406 178,048
Other current assets 27,049 28,888 32,631
Total current assets 442,476 464,554 447,106
Property, plant and equipment, net 26,934 29,238 26,065
Operating lease right-of-use assets 86,444 89,523 87,353
Deferred and non-current income taxes 67,281 25,403 24,913
Goodwill 0 136,366 135,685
Other intangibles, net 18,272 42,359 46,570
Other non-current assets 56,506 59,865 60,969
Total assets [1],[2] 697,913 847,308 828,661
Current liabilities:      
Accounts payable 19,241 35,488 37,477
Accrued liabilities 39,489 44,210 44,886
Accrued payroll and benefits 6,768 6,302 7,185
Current operating lease liabilities 15,053 15,083 13,771
Income taxes payable 13,064 8,217 8,663
Total current liabilities 93,615 109,300 111,982
Loans payable to bank 82,510 51,910 49,060
Deferred and non-current income taxes payable 25,085 25,419 29,071
Non-current operating lease liabilities 78,471 81,877 79,877
Other non-current liabilities 44,721 48,393 65,394
Total liabilities 324,402 316,899 335,384
Commitments and contingencies (Note 11)
Redeemable noncontrolling interest 2,966 3,165 3,636
Equity:      
Preferred Stock, $0.01 par value, 5,000,000 shares authorized; no shares issued 0 0 0
Capital in excess of par value 210,070 208,473 203,640
Retained earnings 305,486 455,479 430,514
Accumulated other comprehensive income 77,074 85,050 76,337
Treasury Stock, 11,480,231, 11,443,308 and 11,388,021 shares, respectively, at cost (223,176) (222,809) (221,194)
Total Movado Group, Inc. shareholders' equity 369,799 526,537 489,641
Noncontrolling interest 746 707 0
Total equity 370,545 527,244 489,641
Total liabilities, redeemable noncontrolling interest and equity 697,913 847,308 828,661
Common Stock Class Undefined      
Equity:      
Common Stock 280 279 279
Total equity [3] 280 279 279
Class A Common Stock      
Equity:      
Common Stock 65 65 65
Total equity [4] $ 65 $ 65 $ 65
[1] The decrease in the United States total assets at April 30, 2020 from January 31, 2020 is primarily due to the impairment charges related to goodwill of $77.5 million and $22.2 million related to intangible assets. The decrease in the International total assets at April 30, 2020 from January 31, 2020 is primarily due to the impairment charge related to goodwill of $56.2 million.
[2] The decrease in total assets of the Watch and Accessory Brands segment at April 30, 2020 from January 31, 2020 is due primarily to the impairment charges related to goodwill of $133.7 million and $22.2 million related to intangible assets.
[3] Each share of common stock is entitled to one vote per share on all matters submitted to a vote of the shareholders.
[4] Each share of class A common stock is entitled to 10 votes per share on all matters submitted to a vote of the shareholders. Each holder of class A common stock is entitled to convert, at any time, any and all of such shares into the same number of shares of common stock. Each share of class A common stock is converted automatically into common stock in the event that the beneficial or record ownership of such shares of class A common stock is transferred to any person, except to certain family members or affiliated persons deemed “permitted transferees” pursuant to the Company’s Restated Certificate of Incorporation as amended. The class A common stock is not publicly traded, and consequently, there is currently no established public trading market for these shares.