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Foreign Currency Translation
9 Months Ended
Sep. 30, 2015
Foreign Currency [Abstract]  
Foreign Currency Translation

15. Foreign Currency Translation

The functional currency of Iconix Luxembourg and Red Diamond Holdings which are wholly owned subsidiaries of the Company, located in Luxembourg, is the Euro.  However the companies have certain dollar denominated assets, in particular cash and notes receivable, that are maintained in U.S. Dollars, which are required to be revalued each quarter. Due to fluctuations in currency in the Current Quarter and Current Nine Months, the Company recorded a $1.1 million currency translation loss and a $7.7 million currency translation gain, respectively, as compared to the Prior Year Quarter and Prior Year Nine Months, the Company recorded a $0.2 million currency translation loss and a $0.6 million currency translation loss, respectively, of which all are included in the unaudited condensed consolidated statement of operations.

Comprehensive income includes certain gains and losses that, under U.S. GAAP, are excluded from net income as such amounts are recorded directly as an adjustment to stockholders’ equity. Our comprehensive income is primarily comprised of net income and foreign currency translation gain or loss. During the Current Quarter and Current Nine Months, we recognized as a component of our comprehensive income, a foreign currency translation gain of $4.1 million and foreign currency translation loss of $26.6 million, respectively, due to changes in foreign exchange rates during the Current Quarter and Current Nine Months. During the Prior Year Quarter and Prior Year Nine Months, we recognized as a component of our comprehensive income, a foreign currency translation loss of $24.9 million and $28.3 million, respectively, due to changes in foreign exchange rates during the Prior Year Quarter and Prior Year Nine Months.