XML 51 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jul. 05, 2014
Jun. 29, 2013
Jul. 05, 2014
Jun. 29, 2013
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME        
Net sales $ 773,820 $ 706,249 $ 1,550,365 $ 1,387,148
Cost of sales 329,218 297,348 662,542 599,776
Gross profit 444,602 408,901 887,823 787,372
Selling, general and administrative expenses 359,844 301,953 698,366 586,103
Operating income 84,758 106,948 189,457 201,269
Interest expense 3,887 1,749 7,593 2,979
Other income (expense)-net (1,097) (961) (1,448) 8,823
Income before income taxes 79,774 104,238 180,416 207,113
Provision for income taxes 24,875 33,829 56,355 62,723
Net income 54,899 70,409 124,061 144,390
Less: Net income attributable to noncontrolling interest 2,382 2,696 5,201 4,490
Net income attributable to Fossil Group, Inc. 52,517 67,713 118,860 139,900
Other comprehensive income (loss), net of taxes:        
Currency translation adjustment 1,524 2,984 399 (16,853)
Securities available for sale-net change 0 (12) 0 (83)
Derivative instruments-net change (651) 1,599 (412) 4,990
Pension plan activity (3,293) 0 (3,293) 0
Total other comprehensive income (loss) (2,420) 4,571 (3,306) (11,946)
Total comprehensive income 52,479 74,980 120,755 132,444
Less: Comprehensive income attributable to noncontrolling interest 2,382 2,696 5,201 4,490
Comprehensive income attributable to Fossil Group, Inc. $ 50,097 $ 72,284 $ 115,554 $ 127,954
Earnings per share:        
Basic (in dollars per share) $ 0.98 $ 1.16 $ 2.21 $ 2.37
Diluted (in dollars per share) $ 0.98 $ 1.15 $ 2.20 $ 2.36
Weighted average common shares outstanding:        
Basic (in shares) 53,494 58,600 53,821 58,997
Diluted (in shares) 53,678 58,890 54,028 59,335