Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Net income	$ 87,046	$ 96,364
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of property and equipment	1,222	2,154
Amortization of trademarks and other intangibles	2,414	3,394
Amortization of deferred financing costs and debt discount	3,654	3,997
Amortization of convertible note discount	23,408	22,040
Stock-based compensation expense	9,824	14,726
Non-cash gain on re-measurement of equity investment	(49,990)	(28,897)
Provision for doubtful accounts	16,117	5,530
Earnings on equity investments in joint ventures	(3,000)	(8,683)
Distributions from equity investments	3,273	6,303
Gain on sale of fixed assets	(225)
Gain on sale of securities		(125)
Gains on sale of trademarks	0	(6,399)	[1]
Deferred income tax provision	22,627	31,492
Foreign currency translation loss (gain)	(7,686)	636
Changes in operating assets and liabilities, net of business acquisitions:
Accounts receivable	(5,416)	(15,791)
Other assets – current	15,150	(19,144)
Other assets	5,514	(10,069)
Deferred revenue	2,091	2,065
Accounts payable and accrued expenses	8,991	23,148
Net cash provided by operating activities	135,014	122,741
Cash flows used in investing activities:
Purchases of property and equipment	(1,134)	(1,086)
Proceeds from sale of trademarks and related notes receivable	3,030	4,000
Proceeds from sale of fixed assets	225
Proceeds from sale of securities		720
Purchase of trademarks		(5,998)
Additions to trademarks	(120)	(790)
Net cash used in investing activities	(151,338)	(39,734)
Cash flows (used in) provided by financing activities:
Shares repurchased on the open market	(12,391)	(168,168)
Proceeds from Variable Funding Notes	100,000
Payment of long-term debt	(45,843)	(47,574)
Proceeds from sale of trademarks and related notes receivable from consolidated JVs	14,813	9,666
Additional payment to Purim	(2,000)	(3,000)
Distributions to non-controlling interests	(15,738)	(12,448)
Excess tax benefit from share-based payment arrangements	98	1,480
Cost of shares repurchased on vesting of restricted stock and exercise of stock options	(15,515)	(13,696)
Proceeds from exercise of stock options and warrants		3,512
Restricted cash	7,648	1,708
Net cash provided by (used in) financing activities	25,072	(228,520)
Effect of exchange rate changes on cash	(67)	(3,749)
Net increase (decrease) in cash and cash equivalents	8,681	(149,262)
Cash and cash equivalents, beginning of period	128,039	278,789
Cash and cash equivalents, end of period	136,720	129,527
Cash paid during the period:
Income taxes (net of refunds received)	(7,819)	19,135
Interest	35,623	36,433
Non-cash investing and financing activities:
Sale of trademarks for note receivable		39,339
Distribution to joint venture included in accounts payable	4,829
Restricted Stock
Non-cash investing and financing activities:
Shares repurchased on vesting of restricted stock included in accrued expenses		3,459
Iconix China
Adjustments to reconcile net income to net cash provided by operating activities:
Non-cash gain on re-measurement of equity investment	(49,990)
Cash flows used in investing activities:
Acquisition of interest	(20,400)
Non-cash investing and financing activities:
Issuance of shares in connection with purchase of Iconix China	15,703
iBrands International LLC
Cash flows used in investing activities:
Acquisition of interest		(2,500)
Pony International, LLC.
Cash flows used in investing activities:
Acquisition of interest	(37,000)
Strawberry Shortcake
Cash flows used in investing activities:
Acquisition of interest	(95,000)
Non-cash investing and financing activities:
Note receivable in connection with Strawberry Shortcake acquisition	9,470
Iconix Latin America
Cash flows used in investing activities:
Acquisition of interest		(42,000)
Scion
Cash flows (used in) provided by financing activities:
Acquisition of interest in Scion	(6,000)
American Greetings Corporation
Cash flows used in investing activities:
Issuance of note	(10,000)
Proceeds received from note	2,500
Buffalo International Unlimited Liability Corporation
Cash flows used in investing activities:
Proceeds received from note	$ 6,561	$ 7,920

[1] Gains on sale of trademarks was previously reported as other revenue. Many of the gains recorded upon formation of certain joint ventures were reversed as a result of consolidation. The gains that were not impacted by consolidation, and therefore not reversed, have been reclassified and are being presented as a separate line item above operating income.