XML 57 R4.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
CONSOLIDATED STATEMENTS OF INCOME (LOSS) AND COMPREHENSIVE INCOME (LOSS) - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 28, 2019
Dec. 29, 2018
Dec. 30, 2017
Income Statement [Abstract]      
Net sales $ 2,217,712 $ 2,541,488 $ 2,788,163
Cost of sales 1,118,274 1,201,351 1,429,324
Gross profit 1,099,438 1,340,137 1,358,839
Operating expenses:      
Selling, general and administrative expenses 1,081,572 1,224,584 1,327,816
Goodwill and trade name impairments 16,613 6,212 407,128
Restructuring charges 29,636 46,630 48,171
Total operating expenses 1,127,821 1,277,426 1,783,115
Operating income (loss) (28,383) 62,711 (424,276)
Interest expense 29,932 42,503 43,214
Other income (expense) - net 26,984 (38) 13,736
Income (loss) before income taxes (31,331) 20,170 (453,754)
Provision for income taxes 18,681 21,108 19,805
Net income (loss) (50,012) (938) (473,559)
Less: Net income attributable to noncontrolling interest 2,353 2,540 4,613
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders 3,861 4,225 4,022
Net income (loss) attributable to Fossil Group, Inc. (52,365) (3,478) (478,172)
Other comprehensive income (loss), net of taxes:      
Currency translation adjustment (5,606) (10,369) 37,368
Cash flow hedges - net change (5,599) 20,673 (20,448)
Pension plan activity (4,719) 3,267 2,235
Total other comprehensive income (loss) (15,924) 13,571 19,155
Total comprehensive income (loss) (65,936) 12,633 (454,404)
Less: Comprehensive income attributable to noncontrolling interest 2,353 2,540 4,613
Comprehensive income (loss) attributable to Fossil Group, Inc. $ (68,289) $ 10,093 $ (459,017)
Earnings (loss) per share:      
Basic (in dollars per share) $ (1.04) $ (0.07) $ (9.87)
Diluted (in dollars per share) $ (1.04) $ (0.07) $ (9.87)
Weighted average common shares outstanding:      
Basic (in shares) 50,230 49,196 48,468
Diluted (in shares) 50,230 49,196 48,468