XML 35 R23.htm IDEA: XBRL DOCUMENT
v3.10.0.1

REVENUE (Tables) | 9 Months Ended
--- | ---
Sep. 29, 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 September 29, 2018 and the Company's condensed consolidated statements of income (loss) and comprehensive income (loss) for the Third Quarter and Year To Date Period (in thousands):
| September 29, 2018
| As Reported |  | Without Adoption of ASU 2014-09 |  | Impact of Adoption of ASU 2014-09
Assets |  |  |  |  |
Accounts receivable | $ | 261,678 |  |  | $ | 240,178 |  |  | $ | 21,500 |
Inventories | 521,311 |  |  | 538,810 |  |  | (17,499 | )
Prepaid expenses and other current assets | 129,410 |  |  | 112,332 |  |  | 17,078 |
Liabilities |  |  |  |  |
Customer liabilities | $ | 52,111 |  |  | $ | 14,850 |  |  | $ | 37,261 |
| For the 13 Weeks Ended September 29, 2018
| As Reported |  | Without Adoption of ASU 2014-09 |  | Impact of Adoption of ASU 2014-09
Net sales | $ | 608,827 |  |  | $ | 614,357 |  |  | $ | (5,530 | )
Cost of sales | 282,295 |  |  | 281,990 |  |  | 305 |
| For the 39 Weeks Ended September 29, 2018
| As Reported |  | Without Adoption of ASU 2014-09 |  | Impact of Adoption of ASU 2014-09
Net sales | $ | 1,754,566 |  |  | $ | 1,750,513 |  |  | $ | 4,053 |
Cost of sales | 831,333 |  |  | 830,912 |  |  | 421 |
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) attributable to Fossil Group, Inc. | (51,067 | )
Markdowns adjustment, net of taxes | (27,325 | )
Sales adjustment, net of taxes | 783 |
Balance at September 29, 2018 | $ | 332,044 |
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 September 29, 2018
| Americas |  | Europe |  | Asia |  | Total
Product type |  |  |  |  |  |  |
Watches | $ | 213,365 |  |  | $ | 157,877 |  |  | $ | 115,296 |  |  | $ | 486,538 |
Leathers | 38,645 |  |  | 15,452 |  |  | 11,939 |  |  | 66,036 |
Jewelry | 11,495 |  |  | 28,495 |  |  | 1,810 |  |  | 41,800 |
Other | 5,559 |  |  | 5,709 |  |  | 3,185 |  |  | 14,453 |
Consolidated | $ | 269,064 |  |  | $ | 207,533 |  |  | $ | 132,230 |  |  | $ | 608,827 |
Timing of revenue recognition |  |  |  |  |  |  |
Revenue recognized at a point in time | $ | 268,485 |  |  | $ | 207,247 |  |  | $ | 132,098 |  |  | $ | 607,830 |
Revenue recognized over time | 579 |  |  | 286 |  |  | 132 |  |  | 997 |
Consolidated | $ | 269,064 |  |  | $ | 207,533 |  |  | $ | 132,230 |  |  | $ | 608,827 |
| For the 39 Weeks Ended September 29, 2018
| Americas |  | Europe |  | Asia |  | Total
Product type |  |  |  |  |  |  |
Watches | $ | 630,678 |  |  | $ | 445,433 |  |  | $ | 321,032 |  |  | $ | 1,397,143 |
Leathers | 119,732 |  |  | 46,405 |  |  | 37,078 |  |  | 203,215 |
Jewelry | 33,973 |  |  | 78,152 |  |  | 4,584 |  |  | 116,709 |
Other | 13,013 |  |  | 15,698 |  |  | 8,788 |  |  | 37,499 |
Consolidated | $ | 797,396 |  |  | $ | 585,688 |  |  | $ | 371,482 |  |  | $ | 1,754,566 |
Timing of revenue recognition |  |  |  |  |  |  |
Revenue recognized at a point in time | $ | 795,824 |  |  | $ | 584,930 |  |  | $ | 371,126 |  |  | $ | 1,751,880 |
Revenue recognized over time | 1,572 |  |  | 758 |  |  | 356 |  |  | 2,686 |
Consolidated | $ | 797,396 |  |  | $ | 585,688 |  |  | $ | 371,482 |  |  | $ | 1,754,566 |

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