XML 61 R45.htm IDEA: XBRL DOCUMENT v3.6.0.2
Consolidated Interim Financial Information (Unaudited) (Tables)
 12 Months Ended
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]  
Unaudited Interim Consolidated Financial Information

Consolidated financial information FY 2016 and FY 2015 is summarized as follows:

 

 

 

First

Quarter

 

 

Second

Quarter

 

 

Third

Quarter

 

 

Fourth

Quarter

 

FY 2016(1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Licensing revenue

 

$

94,632

 

 

$

95,743

 

 

$

90,944

 

 

$

87,142

 

Operating income (loss), net

 

 

54,209

 

 

 

47,811

 

 

 

40,663

 

 

 

(385,811

)

Provision (benefit) for income taxes

 

 

10,608

 

 

 

7,692

 

 

 

9,931

 

 

 

(104,723

)

Net income (loss)

 

 

23,121

 

 

 

17,074

 

 

 

19,799

 

 

 

(309,503

)

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

 

 

18,616

 

 

 

11,582

 

 

 

15,216

 

 

 

(297,548

)

Basic earnings per share

 

$

0.38

 

 

$

0.24

 

 

$

0.27

 

 

$

(5.30

)

Diluted earnings per share

 

$

0.37

 

 

$

0.23

 

 

$

0.27

 

 

$

(5.30

)

Comprehensive income (loss)

 

$

33,625

 

 

$

9,299

 

 

$

22,846

 

 

$

(324,814

)

Comprehensive income (loss) attributable to Iconix Brand

   Group, Inc.

 

$

29,120

 

 

$

3,807

 

 

$

18,263

 

 

$

(312,859

)

FY 2015(2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Licensing revenue

 

$

95,814

 

 

$

97,398

 

 

$

91,332

 

 

$

94,653

 

Operating income (loss), net

 

 

55,976

 

 

 

51,824

 

 

 

27,782

 

 

 

(398,245

)

Provision (benefit) 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 (loss) per share

 

$

1.36

 

 

$

0.28

 

 

$

(0.11

)

 

$

(5.44

)

Diluted earnings (loss) 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

)

 

(1)

FY 2016:  Operating income (loss), net includes a non-cash impairment charge of $443.2 million recorded in the fourth quarter. The non-cash impairment charge is related to brands across all of the Company’s operating segments.  Included in net income (loss) attributable to Iconix Brand Group, Inc. is a net loss on the extinguishment of debt related to the repurchase of the Company’s 1.50% Convertible Notes and 2.50% Convertible Notes as well as principal prepayments made on the Company’s Senior Secured Term Loan during the second, third and fourth quarters (refer to Note 6 for further details), a gain of $28.1 million related to the Company’s sale of the Sharper Image intellectual property and related assets, a gain of $11.8 million related to the Company’s sale of the Badgley Mischka intellectual property and related assets, a cash gain of $10.2 million related to the Company’s sale of its investments in Complex Media in the third quarter and a gain of $7.3 million related to the recoupment and final settlement of unearned incentive compensation from the Company’s former CEO in connection with the previously announced financial restatements during the fourth quarter.

(2)

FY 2015:  Operating income (loss), net includes a non-cash impairment charge of $437.5 million recorded in the fourth quarter.  Based on our new operating segments identified during the fourth quarter of FY 2016, the non-cash impairment charge is primarily related to brands within the men’s, women’s, home, and international segments.  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.