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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.

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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.

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