XML 37 R23.htm IDEA: XBRL DOCUMENT v3.10.0.1

REVENUE (Tables)

6 Months Ended

Jun. 30, 2018

Revenue from Contract with Customer [Abstract]

Schedule of new accounting pronouncements and changes in accounting principles

The following tables summarize the impact of adopting ASU 2014-09 on the Company's condensed consolidated balance sheets as of June 30, 2018 and the Company's condensed consolidated statements of income (loss) and comprehensive income (loss) for the Second Quarter and Year To Date Period (in thousands):

	June 30, 2018
	As Reported				Without Adoption of ASU 2014-09				Impact of Adoption of ASU 2014-09
Assets
Accounts receivable	$	204,651			$	184,394			$	20,257
Inventories	497,814				514,571				(16,757		)
Prepaid expenses and other current assets	125,000				103,448				21,552
Liabilities
Customer liabilities	$	56,066			$	16,146			$	39,920

	For the 13 Weeks Ended June 30, 2018
	As Reported				Without Adoption of ASU 2014-09				Impact of Adoption of ASU 2014-09
Net sales	$	576,583			$	568,165			$	8,418
Cost of sales	267,574				272,369				(4,795		)

	For the 26 Weeks Ended June 30, 2018
	As Reported				Without Adoption of ASU 2014-09				Impact of Adoption of ASU 2014-09
Net sales	$	1,145,739			$	1,136,156			$	9,583
Cost of sales	549,038				548,922				116

Retained Earnings Adjustments. The following table presents the changes in the retained earnings balance including the cumulative effect of adopting ASU 2014-09, net of taxes (in thousands):

	Retained Earnings
Balance at December 30, 2017	$	409,653
Net income (loss)	(56,073		)
Markdowns adjustment, net of taxes	(27,325		)
Sales adjustment, net of taxes	783
Balance at June 30, 2018	$	327,038

Disaggregation of revenue

The Company's revenue disaggregated by major product category and timing of revenue recognition was as follows (in thousands):

	For the 13 Weeks Ended June 30, 2018
	Americas				Europe				Asia				Total
Product type
Watches	$	221,637			$	136,760			$	104,593			$	462,990
Leathers	42,757				12,915				12,248				67,920
Jewelry	10,454				21,151				1,499				33,104
Other	4,415				5,214				2,940				12,569
Consolidated	$	279,263			$	176,040			$	121,280			$	576,583
Timing of revenue recognition
Revenue recognized at a point in time	$	278,726			$	175,792			$	121,160			$	575,678
Revenue recognized over time	537				248				120				905
Consolidated	$	279,263			$	176,040			$	121,280			$	576,583

	For the 26 Weeks Ended June 30, 2018
	Americas				Europe				Asia				Total
Product type
Watches	$	417,314			$	287,555			$	205,736			$	910,605
Leathers	81,087				30,953				25,139				137,179
Jewelry	22,477				49,658				2,774				74,909
Other	7,454				9,989				5,603				23,046
Consolidated	$	528,332			$	378,155			$	239,252			$	1,145,739
Timing of revenue recognition
Revenue recognized at a point in time	$	527,339			$	377,683			$	239,028			$	1,144,050
Revenue recognized over time	993				472				224				1,689
Consolidated	$	528,332			$	378,155			$	239,252			$	1,145,739

X

- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=109196051&loc=SL49130545-203045

+ Details

Name:	us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_RevenueFromContractWithCustomerAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=109236672&loc=d3e765-108305

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.10-01.(b)(6))
-URI http://asc.fasb.org/extlink&oid=27015980&loc=d3e46468-122699

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22580-107794

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=109236672&loc=d3e725-108305

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794

+ Details

Name:	us-gaap_ScheduleOfNewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration