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Foreign Currency Translation
12 Months Ended
Dec. 31, 2019
Foreign Currency [Abstract]  
Foreign Currency Translation

20. 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 FY 2019 and FY 2018, the Company recorded a $0.9 million currency translation loss and a $1.2 million currency translation loss, respectively, that is included in the consolidated statements 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 FY 2019 and FY 2018, the Company recognized as a component of our comprehensive income (loss), a foreign currency translation loss of $1.6 million and a foreign currency translation loss of $5.0 million, respectively, due to changes in foreign exchange rates.