XML 16 R4.htm IDEA: XBRL DOCUMENT v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) AND COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jul. 04, 2020
Jun. 29, 2019
Jul. 04, 2020
Jun. 29, 2019
Income Statement [Abstract]        
Net sales $ 259,009 $ 501,393 $ 649,727 $ 966,661
Cost of sales 118,413 236,285 368,771 453,626
Gross profit 140,596 265,108 280,956 513,035
Operating expenses:        
Selling, general and administrative expenses 166,869 256,110 429,731 513,794
Trade name impairments 0 0 2,464 0
Restructuring charges 10,532 7,317 19,907 17,504
Total operating expenses 177,401 263,427 452,102 531,298
Operating income (loss) (36,805) 1,681 (171,146) (18,263)
Interest expense 7,874 7,353 15,338 15,474
Other income (expense) - net 879 507 (6,411) 26,417
Income (loss) before income taxes (43,800) (5,165) (192,895) (7,320)
Provision for income taxes (20,840) 1,444 (84,491) 11,051
Net income (loss) (22,960) (6,609) (108,404) (18,371)
Less: Net income attributable to noncontrolling interests (417) 702 (280) 1,182
Net income (loss) attributable to Fossil Group, Inc. (22,543) (7,311) (108,124) (19,553)
Other comprehensive income (loss), net of taxes:        
Currency translation adjustment 6,497 (304) (4,696) (2,794)
Cash flow hedges - net change (5,698) (1,845) 544 (2,854)
Total other comprehensive income (loss) 799 (2,149) (4,152) (5,648)
Total comprehensive income (loss) (22,161) (8,758) (112,556) (24,019)
Less: Comprehensive income attributable to noncontrolling interests (417) 702 (280) 1,182
Comprehensive income (loss) attributable to Fossil Group, Inc. $ (21,744) $ (9,460) $ (112,276) $ (25,201)
Earnings (loss) per share:        
Basic (in dollars per share) $ (0.44) $ (0.15) $ (2.13) $ (0.39)
Diluted (in dollars per share) $ (0.44) $ (0.15) $ (2.13) $ (0.39)
Weighted average common shares outstanding:        
Basic (in shares) 51,189 50,326 50,866 49,972
Diluted (in shares) 51,189 50,326 50,866 49,972