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Consolidated Interim Financial Information (Unaudited)
 12 Months Ended
Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]  
Consolidated Interim Financial Information (Unaudited)

15. Consolidated Interim Financial Information (Unaudited)

Consolidated financial information FY 2015 and FY 2014 (Restated) is summarized as follows:

 

 

 

First

Quarter

(Restated)

 

 

Second

Quarter

(Restated)

 

 

Third

Quarter

(Restated)

 

 

Fourth

Quarter

 

FY 2015(1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Licensing revenue

 

$

95,814

 

 

$

97,398

 

 

$

91,332

 

 

$

94,653

 

Operating income (loss), net

 

 

55,976

 

 

 

51,825

 

 

 

27,781

 

 

 

(398,245

)

Provision for income taxes

 

 

27,272

 

 

 

11,536

 

 

 

6,275

 

 

 

(140,427

)

Net income (loss)

 

 

69,045

 

 

 

18,955

 

 

 

(954

)

 

 

(275,976

)

Net income (loss) attributable to Iconix Brand Group, Inc.

 

 

65,359

 

 

 

13,739

 

 

 

(5,387

)

 

 

(263,014

)

Basic earnings per share

 

$

1.36

 

 

$

0.28

 

 

$

(0.11

)

 

$

(5.44

)

Diluted earnings per share

 

$

1.26

 

 

$

0.28

 

 

$

(0.11

)

 

$

(5.44

)

Comprehensive income (loss)

 

$

31,309

 

 

$

26,370

 

 

$

3,097

 

 

$

(286,413

)

Comprehensive income (loss) attributable to Iconix Brand Group,

   Inc.

 

$

27,622

 

 

$

21,155

 

 

$

(1,336

)

 

$

(273,451

)

FY 2014 (Restated) (2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Licensing revenue

 

$

110,400

 

 

$

95,116

 

 

$

89,965

 

 

$

96,009

 

Operating income, net

 

 

64,511

 

 

 

61,860

 

 

 

45,777

 

 

 

48,280

 

Provision for income taxes

 

 

19,998

 

 

 

14,213

 

 

 

8,867

 

 

 

5,210

 

Net income

 

 

53,032

 

 

 

26,949

 

 

 

16,382

 

 

 

22,459

 

Net income attributable to Iconix Brand Group, Inc.

 

 

49,915

 

 

 

23,427

 

 

 

12,855

 

 

 

17,526

 

Basic earnings per share

 

$

1.01

 

 

$

0.48

 

 

$

0.27

 

 

$

0.37

 

Diluted earnings per share

 

$

0.86

 

 

$

0.40

 

 

$

0.22

 

 

$

0.32

 

Comprehensive income (loss)

 

$

50,502

 

 

$

21,785

 

 

$

(8,533

)

 

$

14,396

 

Comprehensive income (loss) attributable to Iconix Brand Group,

   Inc.

 

$

47,162

 

 

$

17,987

 

 

$

(12,275

)

 

$

10,177

 

 

(1)

FY 2015:  Operating income (loss), net includes a non-cash impairment charge of $437.5 million primarily related to the men’s brands recorded in the fourth quarter.  Included in net income (loss) attributable to Iconix Brand Group, Inc. is a non-cash pre-tax re-measurement gain of approximately $50.0 million related to the purchase of the remaining interest in Iconix China in the first quarter.

(2)

FY 2014 (Restated): Operating income, net includes a net gain of $6.4 million on the sale of the “sharperimage.com” domain name and certain categories under the Sharper Image trademark in the second quarter.  Included in net income attributable to Iconix Brand Group, Inc is a non-cash pre-tax re-measurement gain of approximately $34.7 million related to the purchase of the remaining interest in Iconix Latin America in the first quarter.

 

The amounts noted in the table above reflect the restatement adjustments discussed in Note 21.  The Company intends to amend its Forms 10-Q for the quarterly periods ended March, 31, June 30, and September 2015 to reflect the restatement adjustments applicable to the periods presented therein.