ACCOUNTING POLICIES (Tables)
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12 Months Ended |
Dec. 31, 2017 |
Accounting Policies [Abstract] |
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Schedule of fair value of financial instruments using levels of inputs |
The following tables summarize our assets and liabilities measured at fair value on a recurring basis using the following levels of inputs as of December 31, 2017 and 2016, as indicated (in thousands): | | | | | | | | | | | | | | | | | | Fair Value Measurements at December 31, 2017: | | Total | | Level 1 | | Level 2 | | Level 3 | Assets: | |
| | |
| | |
| | |
| Cash equivalents - Money market mutual funds | $ | 25,455 |
| | $ | 25,455 |
| | $ | — |
| | $ | — |
| Trading securities held in a "rabbi trust" (1) | 74 |
| | 74 |
| | — |
| | — |
| Total assets | $ | 25,529 |
| | $ | 25,529 |
| | $ | — |
| | $ | — |
| Liabilities: | |
| | |
| | |
| | |
| Deferred compensation accrual "rabbi trust" (3) | $ | 92 |
| | $ | 92 |
| | $ | — |
| | $ | — |
| Total liabilities | $ | 92 |
| | $ | 92 |
| | $ | — |
| | $ | — |
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| | | | | | | | | | | | | | | | | | Fair Value Measurements at December 31, 2016: | | Total | | Level 1 | | Level 2 | | Level 3 | Assets: | |
| | |
| | |
| | |
| Cash equivalents - Money market mutual funds | $ | 75,177 |
| | $ | 75,177 |
| | $ | — |
| | $ | — |
| Trading securities held in a "rabbi trust" (1) | 58 |
| | 58 |
| | — |
| | — |
| Total assets | $ | 75,235 |
| | $ | 75,235 |
| | $ | — |
| | $ | — |
| Liabilities: | |
| | |
| | |
| | |
| Derivatives (2) | $ | 1,816 |
| | $ | — |
| | $ | 1,816 |
| | $ | — |
| Deferred compensation accrual "rabbi trust" (3) | 61 |
| | 61 |
| | — |
| | — |
| Total liabilities | $ | 1,877 |
| | $ | 61 |
| | $ | 1,816 |
| | $ | — |
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___________________________________________ | | (1) | — Trading securities held in a rabbi trust are included in Prepaids and other current assets and Other long-term assets, net in the consolidated balance sheets. |
| | (2) | — Derivative financial instruments were included in Other current liabilities, net and Other long-term liabilities in the consolidated balance sheets. |
| | (3) | — Non-qualified deferred compensation in a rabbi trust is included in Accrued liabilities and Other long-term liabilities in the consolidated balance sheets. |
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Schedule of estimated useful lives of the fixed assets |
as follows: | | | | Life (years) | Building | 40 | Land improvements | 20 | Building machinery and equipment | 15-20 | Furniture and equipment | 5-7 | Computer hardware | 3-4 | Computer software | 2-4 |
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Schedule of depreciation and amortization expense which is classified within the corresponding operating expense categories on the consolidated statements of income |
Depreciation expense is classified within the corresponding operating expense categories in the consolidated statements of operations as follows (in thousands): | | | | | | | | | | | | | | Year ended December 31, | | 2017 | | 2016 | | 2015 | Cost of goods sold - direct | $ | 307 |
| | $ | 310 |
| | $ | 283 |
| Technology | 24,604 |
| | 25,693 |
| | 22,126 |
| Sales and marketing | — |
| | 124 |
| | — |
| General and administrative | 3,937 |
| | 1,156 |
| | 1,107 |
| Total depreciation, including internal-use software and website development | $ | 28,848 |
| | $ | 27,283 |
| | $ | 23,516 |
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Schedule of intangible assets |
Intangible assets, net consist of the following (in thousands): | | | | | | | | | | December 31, | | 2017 | | 2016 | Acquired intangible assets | $ | 16,000 |
| | $ | 16,000 |
| Intangible assets, other (1) | 1,779 |
| | 1,356 |
| | 17,779 |
| | 17,356 |
| Less: accumulated amortization of intangible assets | (10,442 | ) | | (6,443 | ) | Total intangible assets, net | $ | 7,337 |
| | $ | 10,913 |
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Schedule of amortization expense of intangible assets |
is classified within the corresponding operating expense categories in the consolidated statements of operations as follows (in thousands): | | | | | | | | | | | | | | Year ended December 31, | | 2017 | | 2016 | | 2015 | Technology | $ | 3,620 |
| | $ | 2,904 |
| | $ | 605 |
| Sales and marketing | 83 |
| | 1,008 |
| | 531 |
| General and administrative | 296 |
| | 56 |
| | 445 |
| Total amortization | $ | 3,999 |
| | $ | 3,968 |
| | $ | 1,581 |
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Schedule of costs of goods sold, including product cost and other costs and fulfillment and related costs |
Cost of goods sold, including product cost and other costs and fulfillment and related costs are as follows (in thousands): | | | | | | | | | | | | | | | | | | | | Year ended December 31, | | 2017 | | 2016 | | 2015 | Total revenue, net | $ | 1,744,756 |
| | 100% | | $ | 1,799,963 |
| | 100% | | $ | 1,657,838 |
| | 100% | Cost of goods sold | |
| | | | |
| | | | |
| | | Product costs and other cost of goods sold | 1,328,749 |
| | 76% | | 1,391,736 |
| | 77% | | 1,279,766 |
| | 77% | Fulfillment and related costs | 75,456 |
| | 4% | | 76,878 |
| | 4% | | 73,418 |
| | 4% | Total cost of goods sold | 1,404,205 |
| | 80% | | 1,468,614 |
| | 82% | | 1,353,184 |
| | 82% | Gross profit | $ | 340,551 |
| | 20% | | $ | 331,349 |
| | 18% | | $ | 304,654 |
| | 18% |
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Schedule of computation of basic and diluted net income per common share |
The following table sets forth the computation of basic and diluted net income (loss) per common share for the periods indicated (in thousands, except per share data): | | | | | | | | | | | | | | Year ended December 31, | | 2017 | | 2016 | | 2015 | Net income (loss) attributable to stockholders of Overstock.com, Inc. | $ | (109,878 | ) | | $ | 12,522 |
| | $ | 2,446 |
| Less: Preferred stock dividends - declared and accumulated | 216 |
| | — |
| | — |
| Undistributed income (loss) | (110,094 | ) | | 12,522 |
| | 2,446 |
| Less: Undistributed loss allocated to participating securities | (2,960 | ) | | — |
| | — |
| Net income (loss) attributable to common shares | $ | (107,134 | ) | | $ | 12,522 |
| | $ | 2,446 |
| Net income (loss) per common share—basic: | |
| | |
| | |
| Net income (loss) attributable to common shares—basic | $ | (4.28 | ) | | $ | 0.49 |
| | $ | 0.10 |
| Weighted average common shares outstanding—basic | 25,044 |
| | 25,342 |
| | 24,612 |
| Effect of dilutive securities: | |
| | |
| | |
| Stock options and restricted stock awards | — |
| | 84 |
| | 91 |
| Weighted average common shares outstanding—diluted | 25,044 |
| | 25,426 |
| | 24,703 |
| Net income (loss) attributable to common shares—diluted | $ | (4.28 | ) | | $ | 0.49 |
| | $ | 0.10 |
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Schedule of anti-dilutive securities excluded from the calculation of diluted shares outstanding |
The following shares were excluded from the calculation of diluted shares outstanding as their effect would have been anti-dilutive (in thousands): | | | | | | | | | | | Year ended December 31, | | 2017 | | 2016 | | 2015 | Stock options and restricted stock units | 226 |
| | 466 |
| | 323 |
| Common shares issuable under stock warrant | 78 |
| | — |
| | — |
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