1. | We note your disclosure of your effective income tax rates excluding the effects of goodwill and trademark impairments on page 43, which appears to represent a non-GAAP measure. Please revise to provide the disclosures required by Item 10(e) of Regulation S-K in future filings and show us a draft of your proposed revisions. |
2. | In future filings, please separately disclose, either on your balance sheet or in your footnotes, any elements of accrued expenses and other current liabilities that exceed 5 percent of total current liabilities. Refer to Rule 5-02(20) of Regulation S-X. Please show us a draft of your proposed revisions, if applicable. |
3. | Please tell us how you considered the disclosures required by ASC 718-10-50-2(g) as it relates to your granted restricted stock with performance and market conditions. Please show us a draft of your proposed revisions, if applicable. |
4. | Please tell us how you considered the disclosures required by ASC 280-10-50-25 to 50-26 related to your segment assets. Please show us a draft of your proposed revisions, if applicable. |
5. | In future filings, please present eliminations of transactions between reportable segments in a separate column, rather than including them in the same column with Licensing and Other amounts. Please also disclose the nature of the eliminated items. Refer to ASC 280-10-50-30 and 50-31. If any columns have negative amounts for total assets, please also disclose why. Please show us a draft of your proposed revisions. |
6. | We note your quarterly earnings releases provide revenue by distinct product categories. In future filings on Forms 10-K and 10-Q, please revise to separately disclose revenues from external customers for major product categories. Refer to ASC 280-10-50-40. Please show us a draft of your proposed revisions. |
7. | Please disclose, if true, that each of your subsidiaries that function as co-issuers are 100% owned as defined in Rule 3-10(h) of Regulation S-X. |
8. | Please tell us your basis under Rule 3-10 of Regulation S-X for combining the parent company and the subsidiary issuers in the same column, rather than presenting them in separate columns. Please show us for 2012 what your consolidating financial information would look like if you had presented these columns separately. Please also confirm that no subsidiaries are guarantors only and not co-issuers. Refer to Rule 3-10 of Regulation S-X, including the instructions for preparation of condensed consolidating financial information in paragraph (i). |
·
|
The Company is responsible for the adequacy and accuracy of the disclosure in the filing;
|
·
|
Staff comments or changes to disclosure in response to staff comments do not foreclose the Commission from taking any action with respect to the filing; and
|
·
|
The Company may not assert staff comments as a defense in any proceeding initiated by the Commission or any person under the federal securities laws of the United States.
|
Very truly yours,
/s/ John T. McClain
John T. McClain Chief Financial Officer
|
|
2012
|
2011
|
2010
|
|||||||||||||||||||||
|
Shares
|
Weighted Average Fair Value
|
Shares
|
Weighted Average Fair Value
|
Shares
|
Weighted Average Fair Value
|
||||||||||||||||||
Nonvested, January 1,
|
1.9
|
$
|
11.66
|
2.0
|
$
|
10.24
|
1.6
|
$
|
10.08
|
|||||||||||||||
Granted
|
1.2
|
9.76
|
0.9
|
12.56
|
0.8
|
15.65
|
||||||||||||||||||
Vested
|
(0.7
|
)
|
8.24
|
(0.8
|
)
|
9.27
|
(0.3
|
)
|
23.41
|
|||||||||||||||
Forfeited
|
(0.2
|
)
|
12.43
|
(0.2
|
)
|
11.34
|
(0.1
|
)
|
11.22
|
|||||||||||||||
Nonvested, December 31,
|
2.2
|
$
|
11.64
|
1.9
|
$
|
11.66
|
2.0
|
$
|
10.24
|
|
2012
|
2011
|
2010
|
|||||||||
Fair value (in millions) of shares vested during the year
|
$
|
5.7
|
$
|
7.7
|
$
|
7.3
|
Performance Against Budget
|
Vesting
|
100% or Better
|
100%
|
90%
|
75%
|
80%
|
50%
|
Below 80%
|
0%
|
|
2012
|
2011
|
2010
|
|||||||||||||||||||||
|
Shares
|
Weighted Average Fair Value
|
Shares
|
Weighted Average Fair Value
|
Shares
|
Weighted Average Fair Value
|
||||||||||||||||||
Nonvested, January 1,
|
1.5
|
$
|
10.79
|
1.3
|
$
|
11.21
|
1.0
|
$
|
10.52
|
|||||||||||||||
Granted
|
1.0
|
9.34
|
0.6
|
12.61
|
0.6
|
14.92
|
||||||||||||||||||
Vested
|
(0.6
|
)
|
6.19
|
(0.3
|
)
|
14.46
|
(0.2
|
)
|
17.93
|
|||||||||||||||
Forfeited
|
(0.1
|
)
|
10.30
|
(0.1
|
)
|
15.28
|
(0.1
|
)
|
14.92
|
|||||||||||||||
Nonvested, December 31,
|
1.8
|
$
|
11.48
|
1.5
|
$
|
10.79
|
1.3
|
$
|
11.21
|
|
2012
|
2011
|
2010
|
|||||||||
Fair value (in millions) of shares vested during the year
|
$
|
3.6
|
$
|
4.8
|
$
|
3.2
|
Performance Relative to Peers
|
Vesting
|
Median or Better
|
100%
|
40th Percentile
|
75%
|
30th Percentile
|
50%
|
Below 30th Percentile
|
0%
|
|
2012
|
2011
|
2010
|
|||||||||||||||||||||
|
Shares
|
Weighted Average Fair Value
|
Shares
|
Weighted Average Fair Value
|
Shares
|
Weighted Average Fair Value
|
||||||||||||||||||
Nonvested, January 1,
|
1.5
|
$
|
6.80
|
1.3
|
$
|
11.21
|
1.0
|
$
|
10.52
|
|||||||||||||||
Granted
|
1.0
|
3.66
|
0.6
|
3.15
|
0.6
|
14.92
|
||||||||||||||||||
Vested
|
(0.2
|
)
|
6.60
|
(0.3
|
)
|
14.46
|
(0.2
|
)
|
17.93
|
|||||||||||||||
Forfeited
|
(0.5
|
)
|
3.33
|
(0.1
|
)
|
15.28
|
(0.1
|
)
|
14.92
|
|||||||||||||||
Nonvested, December 31,
|
1.8
|
$
|
5.94
|
1.5
|
$
|
6.80
|
1.3
|
$
|
11.21
|
|
2012
|
2011
|
2010
|
|||||||||
Fair value (in millions) of shares vested during the year
|
$
|
1.6
|
$
|
4.8
|
$
|
3.2
|
(In millions)
|
Domestic Wholesale Sportswear
|
Domestic Wholesale Jeanswear
|
Domestic Wholesale Footwear & Accessories
|
Domestic Retail
|
International Wholesale
|
International Retail
|
Licensing & Other
|
Eliminations
|
Cons-
olidated
|
|||||||||||||||||||||||||||
For the year ended December 31, 2012
|
||||||||||||||||||||||||||||||||||||
Revenues
|
$
|
782.0
|
$
|
746.7
|
$
|
919.7
|
$
|
584.6
|
$
|
330.0
|
$
|
388.9
|
$
|
46.2
|
$
|
-
|
$
|
3,798.1
|
||||||||||||||||||
Segment income (loss)
|
$
|
38.0
|
$
|
53.0
|
$
|
57.4
|
$
|
(51.7
|
)
|
$
|
33.8
|
$
|
5.5
|
$
|
(13.5
|
)
|
$
|
(0.2
|
)
|
$
|
122.3
|
|||||||||||||||
Net interest expense
|
(145.1
|
)
|
||||||||||||||||||||||||||||||||||
Equity in income of unconsolidated affiliate
|
2.5
|
|||||||||||||||||||||||||||||||||||
Goodwill impairment
|
(47.6
|
)
|
||||||||||||||||||||||||||||||||||
Loss before benefit for income taxes
|
$
|
(67.9
|
)
|
|||||||||||||||||||||||||||||||||
Depreciation and amortization
|
$
|
5.8
|
$
|
1.1
|
$
|
8.7
|
$
|
13.3
|
$
|
3.0
|
$
|
23.8
|
$
|
54.1
|
$
|
-
|
$
|
109.8
|
||||||||||||||||||
Expenditures for long-lived assets
|
10.3
|
4.0
|
12.6
|
20.5
|
0.9
|
27.3
|
25.1
|
-
|
100.7
|
|||||||||||||||||||||||||||
For the year ended December 31, 2011
|
||||||||||||||||||||||||||||||||||||
Revenues
|
$
|
892.3
|
$
|
773.7
|
$
|
848.0
|
$
|
631.2
|
$
|
329.5
|
$
|
260.4
|
$
|
50.2
|
$
|
-
|
$
|
3,785.3
|
||||||||||||||||||
Segment income (loss)
|
$
|
74.0
|
$
|
49.6
|
$
|
40.9
|
$
|
(37.9
|
)
|
$
|
35.5
|
$
|
6.9
|
$
|
(30.0
|
)
|
$
|
1.5
|
140.5
|
|||||||||||||||||
Net interest expense
|
(73.3
|
)
|
||||||||||||||||||||||||||||||||||
Equity in income of unconsolidated affiliate
|
3.9
|
|||||||||||||||||||||||||||||||||||
Income before provision for income taxes
|
|
$
|
71.1
|
|||||||||||||||||||||||||||||||||
Depreciation and amortization
|
$
|
9.0
|
$
|
1.2
|
$
|
10.4
|
$
|
17.2
|
$
|
4.3
|
$
|
12.9
|
$
|
49.8
|
$
|
-
|
$
|
104.8
|
||||||||||||||||||
Expenditures for long-lived assets
|
34.6
|
4.3
|
6.6
|
14.5
|
4.1
|
19.6
|
28.8
|
-
|
112.5
|
|||||||||||||||||||||||||||
For the year ended December 31, 2010
|
||||||||||||||||||||||||||||||||||||
Revenues
|
$
|
965.2
|
$
|
819.9
|
$
|
841.5
|
$
|
651.2
|
$
|
269.6
|
$
|
47.0
|
$
|
48.3
|
$
|
-
|
$
|
3,642.7
|
||||||||||||||||||
Segment income (loss)
|
$
|
80.4
|
$
|
72.3
|
$
|
53.7
|
$
|
(45.5
|
)
|
$
|
25.8
|
$
|
6.7
|
$
|
(48.4
|
)
|
$
|
(0.1
|
)
|
144.9
|
||||||||||||||||
Net interest expense
|
(58.9
|
)
|
||||||||||||||||||||||||||||||||||
Equity in loss of unconsolidated affiliate
|
(0.9
|
)
|
||||||||||||||||||||||||||||||||||
Income before provision for income taxes
|
|
$
|
85.1
|
|||||||||||||||||||||||||||||||||
Depreciation and amortization
|
$
|
17.9
|
$
|
1.2
|
$
|
18.6
|
$
|
17.4
|
$
|
1.2
|
$
|
1.3
|
$
|
56.3
|
$
|
-
|
$
|
113.9
|
||||||||||||||||||
Expenditures for long-lived assets
|
11.0
|
7.6
|
7.7
|
11.2
|
0.3
|
1.2
|
18.9
|
-
|
57.9
|
|||||||||||||||||||||||||||
Total Assets (a)
|
||||||||||||||||||||||||||||||||||||
December 31, 2012
|
$
|
1,061.8
|
$
|
683.7
|
$
|
1,112.2
|
$
|
288.0
|
$
|
254.9
|
$
|
377.1
|
$
|
2,062.0
|
$
|
(3,244.2
|
)
|
$
|
2,595.5
|
|||||||||||||||||
December 31, 2011
|
1,034.7
|
638.6
|
1,001.3
|
254.6
|
238.7
|
396.4
|
1,746.7
|
(2,595.7
|
)
|
$
|
2,715.3
|
|||||||||||||||||||||||||
December 31, 2010
|
771.5
|
661.6
|
849.5
|
217.9
|
173.1
|
13.6
|
1,517.8
|
(1,872.6
|
)
|
$
|
2,332.4
|
December 31,
|
2012
|
2011
|
2010
|
|||||||||
(In millions)
|
||||||||||||
|
||||||||||||
Elimination of intersegment balances
|
$
|
1,450.8
|
$
|
1,404.0
|
$
|
778.3
|
||||||
Reclassification of deferred tax assets
|
154.5
|
134.9
|
178.3
|
|||||||||
Elimination of investments in subsidiaries
|
1,638.9
|
1,056.8
|
916.0
|
|||||||||
|
$
|
3,244.2
|
$
|
2,595.7
|
$
|
1,872.6
|
On or for the Year Ended December 31,
|
2012
|
2011
|
2010
|
|||||||||
(In millions)
|
||||||||||||
Revenues from external customers:
|
||||||||||||
United States
|
$
|
3,018.0
|
$
|
3,119.2
|
$
|
3,245.2
|
||||||
United Kingdom
|
343.7
|
216.1
|
11.9
|
|||||||||
Canada
|
146.1
|
152.2
|
136.5
|
|||||||||
Other foreign countries
|
290.3
|
297.8
|
249.1
|
|||||||||
|
$
|
3,798.1
|
$
|
3,785.3
|
$
|
3,642.7
|
||||||
Long-lived assets:
|
||||||||||||
United States
|
$
|
1,072.0
|
$
|
1,100.2
|
$
|
1,188.6
|
||||||
United Kingdom
|
290.4
|
335.4
|
-
|
|||||||||
Other foreign countries
|
136.4
|
124.2
|
52.7
|
|||||||||
|
$
|
1,498.8
|
$
|
1,559.8
|
$
|
1,241.3
|
||||||
Revenues by product category:
|
||||||||||||
Sportswear
|
$
|
1,036.5
|
$
|
1,158.9
|
$
|
1,222.7
|
||||||
Jeanswear
|
746.7
|
773.8
|
819.9
|
|||||||||
Footwear and accessories
|
1,968.8
|
1,802.5
|
1,551.9
|
|||||||||
Other
|
46.1
|
50.1
|
48.2
|
|||||||||
|
$
|
3,798.1
|
$
|
3,785.3
|
$
|
3,642.7
|
|
December 31, 2012
|
December 31, 2011
|
||||||||||||||||||||||||||||||||||||||
|
Jones
|
Issuers
|
Others
|
Elim-
inations
|
Cons-
olidated
|
Jones
|
Issuers
|
Others
|
Elim-
inations
|
Cons-
olidated
|
||||||||||||||||||||||||||||||
ASSETS
|
||||||||||||||||||||||||||||||||||||||||
Current assets:
|
||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents
|
$
|
-
|
$
|
82.6
|
$
|
67.0
|
$
|
-
|
$
|
149.6
|
$
|
-
|
$
|
195.8
|
$
|
43.0
|
$
|
-
|
$
|
238.8
|
||||||||||||||||||||
Accounts receivable
|
-
|
191.0
|
190.0
|
-
|
381.0
|
-
|
182.9
|
156.7
|
-
|
339.6
|
||||||||||||||||||||||||||||||
Inventories, primarily finished goods
|
-
|
261.7
|
226.2
|
(1.2
|
)
|
486.7
|
-
|
270.5
|
220.9
|
(0.3
|
)
|
491.1
|
||||||||||||||||||||||||||||
Prepaid and refundable income taxes
|
-
|
18.6
|
0.3
|
(13.4
|
)
|
5.5
|
-
|
5.3
|
4.9
|
1.7
|
11.9
|
|||||||||||||||||||||||||||||
Deferred taxes
|
-
|
17.9
|
15.3
|
-
|
33.2
|
-
|
13.2
|
13.2
|
-
|
26.4
|
||||||||||||||||||||||||||||||
Prepaid expenses and other current assets
|
-
|
23.6
|
18.2
|
(1.1
|
)
|
40.7
|
-
|
21.5
|
26.2
|
-
|
47.7
|
|||||||||||||||||||||||||||||
Total current assets
|
-
|
595.4
|
517.0
|
(15.7
|
)
|
1,096.7
|
-
|
689.2
|
464.9
|
1.4
|
1,155.5
|
|||||||||||||||||||||||||||||
Property, plant and equipment
|
-
|
64.6
|
213.5
|
-
|
278.1
|
-
|
64.9
|
206.5
|
-
|
271.4
|
||||||||||||||||||||||||||||||
Due from affiliates
|
-
|
497.7
|
319.0
|
(816.7
|
)
|
-
|
-
|
-
|
1,604.4
|
(1,604.4
|
)
|
-
|
||||||||||||||||||||||||||||
Goodwill
|
-
|
49.9
|
165.4
|
-
|
215.3
|
-
|
46.7
|
208.6
|
-
|
255.3
|
||||||||||||||||||||||||||||||
Other intangibles
|
-
|
6.0
|
863.7
|
-
|
869.7
|
-
|
6.9
|
890.5
|
-
|
897.4
|
||||||||||||||||||||||||||||||
Deferred taxes
|
-
|
93.0
|
-
|
(93.0
|
)
|
-
|
-
|
80.6
|
-
|
(80.6
|
)
|
-
|
||||||||||||||||||||||||||||
Investments in subsidiaries
|
1,811.4
|
1,745.4
|
38.9
|
(3,556.8
|
)
|
38.9
|
2,555.1
|
3,047.6
|
35.6
|
(5,602.7
|
)
|
35.6
|
||||||||||||||||||||||||||||
Other assets
|
-
|
67.7
|
29.1
|
-
|
96.8
|
-
|
79.3
|
20.8
|
-
|
100.1
|
||||||||||||||||||||||||||||||
Total assets
|
$
|
1,811.4
|
$
|
3,119.7
|
$
|
2,146.6
|
$
|
(4,482.2
|
)
|
$
|
2,595.5
|
$
|
2,555.1
|
$
|
4,015.2
|
$
|
3,431.3
|
$
|
(7,286.3
|
)
|
$
|
2,715.3
|
||||||||||||||||||
LIABILITIES AND EQUITY
|
||||||||||||||||||||||||||||||||||||||||
Current liabilities:
|
||||||||||||||||||||||||||||||||||||||||
Current portion of long-term debt and capital lease obligations
|
$
|
-
|
$
|
-
|
$
|
2.2
|
$
|
-
|
$
|
2.2
|
$
|
-
|
$
|
-
|
$
|
2.0
|
$
|
-
|
$
|
2.0
|
||||||||||||||||||||
Current portion of acquisition consideration payable
|
-
|
30.3
|
-
|
-
|
30.3
|
-
|
192.7
|
1.4
|
-
|
194.1
|
||||||||||||||||||||||||||||||
Accounts payable
|
-
|
156.2
|
101.3
|
-
|
257.5
|
-
|
139.7
|
96.5
|
-
|
236.2
|
||||||||||||||||||||||||||||||
Income taxes payable
|
-
|
22.1
|
12.9
|
(33.6
|
)
|
1.4
|
-
|
11.2
|
8.3
|
(18.1
|
)
|
1.4
|
||||||||||||||||||||||||||||
Accrued expenses and other current liabilities
|
8.5
|
70.6
|
82.8
|
(1.1
|
)
|
160.8
|
7.8
|
71.2
|
67.3
|
-
|
146.3
|
|||||||||||||||||||||||||||||
Total current liabilities
|
8.5
|
279.2
|
199.2
|
(34.7
|
)
|
452.2
|
7.8
|
414.8
|
175.5
|
(18.1
|
)
|
580.0
|
||||||||||||||||||||||||||||
Long-term debt
|
-
|
934.4
|
-
|
-
|
934.4
|
-
|
831.3
|
0.1
|
-
|
831.4
|
||||||||||||||||||||||||||||||
Obligations under capital leases
|
-
|
-
|
21.3
|
-
|
21.3
|
-
|
-
|
23.3
|
-
|
23.3
|
||||||||||||||||||||||||||||||
Income taxes payable
|
-
|
0.5
|
-
|
-
|
0.5
|
-
|
6.7
|
-
|
-
|
6.7
|
||||||||||||||||||||||||||||||
Deferred taxes
|
-
|
-
|
155.7
|
(99.0
|
)
|
56.7
|
-
|
-
|
160.0
|
(86.6
|
)
|
73.4
|
||||||||||||||||||||||||||||
Acquisition consideration payable
|
-
|
6.0
|
-
|
-
|
6.0
|
-
|
17.7
|
-
|
-
|
17.7
|
||||||||||||||||||||||||||||||
Due to affiliates
|
816.7
|
-
|
-
|
(816.7
|
)
|
-
|
1,477.7
|
126.7
|
-
|
(1,604.4
|
)
|
-
|
||||||||||||||||||||||||||||
Other noncurrent liabilities
|
5.0
|
88.1
|
25.0
|
-
|
118.1
|
4.7
|
63.0
|
25.7
|
-
|
93.4
|
||||||||||||||||||||||||||||||
830.2
|
1,308.2
|
401.2
|
(950.4
|
)
|
1,589.2
|
1,490.2
|
1,460.2
|
384.6
|
(1,709.1
|
)
|
1,625.9
|
|||||||||||||||||||||||||||||
Redeemable noncontrolling interest
|
-
|
-
|
0.6
|
-
|
0.6
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||||||||||||||
Equity:
|
||||||||||||||||||||||||||||||||||||||||
Common stock and additional paid-in capital
|
521.6
|
1,294.3
|
948.0
|
(2,242.3
|
)
|
521.6
|
522.6
|
1,294.3
|
2,352.4
|
(3,646.7
|
)
|
522.6
|
||||||||||||||||||||||||||||
Retained earnings
|
477.5
|
535.1
|
793.1
|
(1,304.6
|
)
|
501.1
|
571.9
|
1,290.3
|
704.3
|
(1,970.3
|
)
|
596.2
|
||||||||||||||||||||||||||||
Accumulated other comprehensive (loss) income
|
(17.9
|
)
|
(17.9
|
)
|
2.8
|
15.1
|
(17.9
|
)
|
(29.6
|
)
|
(29.6
|
)
|
(10.2
|
)
|
39.8
|
(29.6
|
)
|
|||||||||||||||||||||||
Total Jones stockholders' equity
|
981.2
|
1,811.5
|
1,743.9
|
(3,531.8
|
)
|
1,004.8
|
1,064.9
|
2,555.0
|
3,046.5
|
(5,577.2
|
)
|
1,089.2
|
||||||||||||||||||||||||||||
Noncontrolling interests
|
-
|
-
|
0.9
|
-
|
0.9
|
-
|
-
|
0.2
|
-
|
0.2
|
||||||||||||||||||||||||||||||
Total equity
|
981.2
|
1,811.5
|
1,744.8
|
(3,531.8
|
)
|
1,005.7
|
1,064.9
|
2,555.0
|
3,046.7
|
(5,577.2
|
)
|
1,089.4
|
||||||||||||||||||||||||||||
Total liabilities and equity
|
$
|
1,811.4
|
$
|
3,119.7
|
$
|
2,146.6
|
$
|
(4,482.2
|
)
|
$
|
2,595.5
|
$
|
2,555.1
|
$
|
4,015.2
|
$
|
3,431.3
|
$
|
(7,286.3
|
)
|
$
|
2,715.3
|
|
Year Ended December 31, 2012
|
Year Ended December 31, 2011
|
Year Ended December 31, 2010
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Jones
|
Issuers
|
Others
|
Elim-
inations
|
Cons-
olidated
|
Jones
|
Issuers
|
Others
|
Elim-
inations
|
Cons-
olidated
|
Jones
|
Issuers
|
Others
|
Elim-
inations
|
Cons-
olidated
|
|||||||||||||||||||||||||||||||||||||||||||||
Net sales
|
$
|
-
|
$
|
2,258.4
|
$
|
1,520.4
|
$
|
(28.2
|
)
|
$
|
3,750.6
|
$
|
-
|
$
|
2,370.0
|
$
|
1,387.0
|
$
|
(23.0
|
)
|
$
|
3,734.0
|
$
|
-
|
$
|
2,512.5
|
$
|
1,095.2
|
$
|
(14.2
|
)
|
$
|
3,593.5
|
|||||||||||||||||||||||||||
Licensing income
|
-
|
0.2
|
46.0
|
-
|
46.2
|
-
|
0.1
|
50.1
|
-
|
50.2
|
-
|
0.1
|
48.2
|
-
|
48.3
|
|||||||||||||||||||||||||||||||||||||||||||||
Other revenues
|
-
|
1.3
|
-
|
-
|
1.3
|
-
|
1.1
|
-
|
-
|
1.1
|
-
|
0.9
|
-
|
-
|
0.9
|
|||||||||||||||||||||||||||||||||||||||||||||
Total revenues
|
-
|
2,259.9
|
1,566.4
|
(28.2
|
)
|
3,798.1
|
-
|
2,371.2
|
1,437.1
|
(23.0
|
)
|
3,785.3
|
-
|
2,513.5
|
1,143.4
|
(14.2
|
)
|
3,642.7
|
||||||||||||||||||||||||||||||||||||||||||
Cost of goods sold
|
-
|
1,517.7
|
928.1
|
(18.4
|
)
|
2,427.4
|
-
|
1,568.3
|
882.7
|
(10.9
|
)
|
2,440.1
|
-
|
1,643.9
|
746.3
|
(3.0
|
)
|
2,387.2
|
||||||||||||||||||||||||||||||||||||||||||
Gross profit
|
-
|
742.2
|
638.3
|
(9.8
|
)
|
1,370.7
|
-
|
802.9
|
554.4
|
(12.1
|
)
|
1,345.2
|
-
|
869.6
|
397.1
|
(11.2
|
)
|
1,255.5
|
||||||||||||||||||||||||||||||||||||||||||
Selling, general and administrative expenses
|
-
|
854.8
|
381.0
|
(8.9
|
)
|
1,226.9
|
-
|
893.5
|
291.5
|
(11.8
|
)
|
1,173.2
|
-
|
950.9
|
133.2
|
(11.1
|
)
|
1,073.0
|
||||||||||||||||||||||||||||||||||||||||||
Trademark impairments
|
-
|
-
|
21.5
|
-
|
21.5
|
-
|
-
|
31.5
|
-
|
31.5
|
-
|
-
|
37.6
|
-
|
37.6
|
|||||||||||||||||||||||||||||||||||||||||||||
Goodwill impairment
|
-
|
-
|
47.6
|
-
|
47.6
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|||||||||||||||||||||||||||||||||||||||||||||
Operating (loss) income
|
-
|
(112.6
|
)
|
188.2
|
(0.9
|
)
|
74.7
|
-
|
(90.6
|
)
|
231.4
|
(0.3
|
)
|
140.5
|
-
|
(81.3
|
)
|
226.3
|
(0.1
|
)
|
144.9
|
|||||||||||||||||||||||||||||||||||||||
Net interest expense (income) and financing costs
|
-
|
143.1
|
2.0
|
-
|
145.1
|
-
|
76.7
|
(3.4
|
)
|
-
|
73.3
|
-
|
64.4
|
(5.5
|
)
|
-
|
58.9
|
|||||||||||||||||||||||||||||||||||||||||||
Equity in income (loss) of unconsolidated affiliate
|
-
|
-
|
2.5
|
-
|
2.5
|
-
|
-
|
3.9
|
-
|
3.9
|
-
|
-
|
(0.9
|
)
|
-
|
(0.9
|
)
|
|||||||||||||||||||||||||||||||||||||||||||
(Loss) income before (benefit) provision for income taxes
|
-
|
(255.7
|
)
|
188.7
|
(0.9
|
)
|
(67.9
|
)
|
-
|
(167.3
|
)
|
238.7
|
(0.3
|
)
|
71.1
|
-
|
(145.7
|
)
|
230.9
|
(0.1
|
)
|
85.1
|
||||||||||||||||||||||||||||||||||||||
(Benefit) provision for income taxes
|
-
|
(77.5
|
)
|
65.1
|
(0.5
|
)
|
(12.9
|
)
|
-
|
(36.1
|
)
|
74.2
|
(18.5
|
)
|
19.6
|
-
|
(42.9
|
)
|
75.0
|
(1.4
|
)
|
30.7
|
||||||||||||||||||||||||||||||||||||||
(Loss) income before earnings of subsidiaries
|
-
|
(178.2
|
)
|
123.6
|
(0.4
|
)
|
(55.0
|
)
|
-
|
(131.2
|
)
|
164.5
|
18.2
|
51.5
|
-
|
(102.8
|
)
|
155.9
|
1.3
|
54.4
|
||||||||||||||||||||||||||||||||||||||||
Equity in earnings of subsidiaries
|
(55.3
|
)
|
122.9
|
-
|
(67.6
|
)
|
-
|
32.5
|
163.7
|
-
|
(196.2
|
)
|
-
|
56.3
|
155.9
|
-
|
(212.2
|
)
|
-
|
|||||||||||||||||||||||||||||||||||||||||
Net (loss) income
|
(55.3
|
)
|
(55.3
|
)
|
123.6
|
(68.0
|
)
|
(55.0
|
)
|
32.5
|
32.5
|
164.5
|
(178.0
|
)
|
51.5
|
56.3
|
53.1
|
155.9
|
(210.9
|
)
|
54.4
|
|||||||||||||||||||||||||||||||||||||||
Less: income attributable to noncontrolling interests
|
-
|
-
|
1.1
|
-
|
1.1
|
-
|
-
|
0.8
|
-
|
0.8
|
-
|
-
|
0.6
|
-
|
0.6
|
|||||||||||||||||||||||||||||||||||||||||||||
(Loss) income attributable to Jones
|
$
|
(55.3
|
)
|
$
|
(55.3
|
)
|
$
|
122.5
|
$
|
(68.0
|
)
|
$
|
(56.1
|
)
|
$
|
32.5
|
$
|
32.5
|
$
|
163.7
|
$
|
(178.0
|
)
|
$
|
50.7
|
$
|
56.3
|
$
|
53.1
|
$
|
155.3
|
$
|
(210.9
|
)
|
$
|
53.8
|
|
Year Ended December 31, 2012
|
Year Ended December 31, 2011
|
Year Ended December 31, 2010
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Jones
|
Issuers
|
Others
|
Elim-
inations
|
Cons-
olidated
|
Jones
|
Issuers
|
Others
|
Elim-
inations
|
Cons-
olidated
|
Jones
|
Issuers
|
Others
|
Elim-
inations
|
Cons-
olidated
|
|||||||||||||||||||||||||||||||||||||||||||||
Net (loss) income
|
$
|
(55.3
|
)
|
$
|
(55.3
|
)
|
$
|
123.6
|
$
|
(68.0
|
)
|
$
|
(55.0
|
)
|
$
|
32.5
|
$
|
32.5
|
$
|
164.5
|
$
|
(178.0
|
)
|
$
|
51.5
|
$
|
56.3
|
$
|
53.1
|
$
|
155.9
|
$
|
(210.9
|
)
|
$
|
54.4
|
||||||||||||||||||||||||
Other comprehensive income (loss):
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pension and postretirement liability adjustments, net of tax
|
(0.1
|
)
|
(0.1
|
)
|
-
|
0.1
|
(0.1
|
)
|
(7.1
|
)
|
(7.1
|
)
|
(1.2
|
)
|
8.3
|
(7.1
|
)
|
(1.7
|
)
|
(1.7
|
)
|
-
|
1.7
|
(1.7
|
)
|
|||||||||||||||||||||||||||||||||||
Change in fair value of cash flow hedges, net of tax
|
-
|
-
|
-
|
-
|
-
|
(0.2
|
)
|
(0.2
|
)
|
(0.2
|
)
|
0.4
|
(0.2
|
)
|
(0.3
|
)
|
(0.3
|
)
|
(0.3
|
)
|
0.6
|
(0.3
|
)
|
|||||||||||||||||||||||||||||||||||||
Reclassification adjustment for hedge gains and losses included in net (loss) income, net of tax
|
0.1
|
0.1
|
0.1
|
(0.2
|
)
|
0.1
|
0.5
|
0.5
|
0.5
|
(1.0
|
)
|
0.5
|
0.1
|
0.1
|
0.1
|
(0.2
|
)
|
0.1
|
||||||||||||||||||||||||||||||||||||||||||
Foreign currency translation adjustments
|
11.7
|
11.7
|
11.4
|
(23.1
|
)
|
11.7
|
(14.4
|
)
|
(14.4
|
)
|
(14.4
|
)
|
28.8
|
(14.4
|
)
|
1.1
|
1.1
|
1.1
|
(2.2
|
)
|
1.1
|
|||||||||||||||||||||||||||||||||||||||
Total other comprehensive income (loss)
|
11.7
|
11.7
|
11.5
|
(23.2
|
)
|
11.7
|
(21.2
|
)
|
(21.2
|
)
|
(15.3
|
)
|
36.5
|
(21.2
|
)
|
(0.8
|
)
|
(0.8
|
)
|
0.9
|
(0.1
|
)
|
(0.8
|
)
|
||||||||||||||||||||||||||||||||||||
Comprehensive (loss) income
|
$
|
(43.6
|
)
|
$
|
(43.6
|
)
|
$
|
135.1
|
$
|
(91.2
|
)
|
$
|
(43.3
|
)
|
$
|
11.3
|
$
|
11.3
|
$
|
149.2
|
$
|
(141.5
|
)
|
$
|
30.3
|
$
|
55.5
|
$
|
52.3
|
$
|
156.8
|
$
|
(211.0
|
)
|
$
|
53.6
|
|
Year Ended December 31, 2012
|
Year Ended December 31, 2011
|
Year Ended December 31, 2010
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Jones
|
Issuers
|
Others
|
Elim-
inations
|
Cons-
olidated
|
Jones
|
Issuers
|
Others
|
Elim-
inations
|
Cons-
olidated
|
Jones
|
Issuers
|
Others
|
Elim-
inations
|
Cons-
olidated
|
|||||||||||||||||||||||||||||||||||||||||||||
Net cash provided by operating activities
|
$
|
-
|
$
|
19.2
|
$
|
109.2
|
$
|
(15.7
|
)
|
$
|
112.7
|
$
|
-
|
$
|
192.7
|
$
|
97.8
|
$
|
(18.8
|
)
|
$
|
271.7
|
$
|
-
|
$
|
66.6
|
$
|
90.6
|
$
|
(15.9
|
)
|
$
|
141.3
|
|||||||||||||||||||||||||||
Cash flows from investing activities:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition of KG Group Holdings, net of cash acquired
|
-
|
-
|
-
|
-
|
-
|
-
|
(143.1
|
)
|
-
|
-
|
(143.1
|
)
|
-
|
-
|
-
|
-
|
-
|
|||||||||||||||||||||||||||||||||||||||||||
Acquisition of Stuart Weitzman Holdings, net of cash acquired
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(159.3
|
)
|
-
|
-
|
(159.3
|
)
|
|||||||||||||||||||||||||||||||||||||||||||
Acquisition of Moda Nicola International
|
-
|
-
|
-
|
-
|
-
|
-
|
(2.5
|
)
|
-
|
-
|
(2.5
|
)
|
-
|
(14.4
|
)
|
-
|
-
|
(14.4
|
)
|
|||||||||||||||||||||||||||||||||||||||||
Acquisition of Brian Atwood, net of cash acquired
|
-
|
(5.0
|
)
|
0.6
|
-
|
(4.4
|
)
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|||||||||||||||||||||||||||||||||||||||||||
Contingent consideration paid related to investment in GRI Group Limited
|
-
|
-
|
(3.5
|
)
|
-
|
(3.5
|
)
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|||||||||||||||||||||||||||||||||||||||||||
Capital expenditures
|
-
|
(19.8
|
)
|
(56.7
|
)
|
(76.5
|
)
|
-
|
(37.3
|
)
|
(60.7
|
)
|
-
|
(98.0
|
)
|
-
|
(18.6
|
)
|
(22.4
|
)
|
-
|
(41.0
|
)
|
|||||||||||||||||||||||||||||||||||||
Proceeds from sale of trademark
|
-
|
-
|
5.0
|
-
|
5.0
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|||||||||||||||||||||||||||||||||||||||||||||
Other items, net
|
-
|
-
|
(0.1
|
)
|
-
|
(0.1
|
)
|
-
|
-
|
0.1
|
-
|
0.1
|
-
|
-
|
0.4
|
-
|
0.4
|
|||||||||||||||||||||||||||||||||||||||||||
Net cash used in investing activities
|
-
|
(24.8
|
)
|
(54.7
|
)
|
-
|
(79.5
|
)
|
-
|
(182.9
|
)
|
(60.6
|
)
|
-
|
(243.5
|
)
|
-
|
(192.3
|
)
|
(22.0
|
)
|
-
|
(214.3
|
)
|
||||||||||||||||||||||||||||||||||||
Cash flows from financing activities:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of 6.875% Senior Notes due 2019
|
-
|
103.5
|
-
|
-
|
103.5
|
-
|
300.0
|
-
|
-
|
300.0
|
-
|
-
|
-
|
-
|
-
|
|||||||||||||||||||||||||||||||||||||||||||||
Debt issuance costs
|
-
|
(2.6
|
)
|
-
|
-
|
(2.6
|
)
|
-
|
(6.6
|
)
|
-
|
-
|
(6.6
|
)
|
-
|
-
|
-
|
-
|
-
|
|||||||||||||||||||||||||||||||||||||||||
Costs related to secured revolving credit agreement
|
-
|
(0.3
|
)
|
-
|
-
|
(0.3
|
)
|
-
|
(3.3
|
)
|
-
|
-
|
(3.3
|
)
|
-
|
(7.3
|
)
|
-
|
-
|
(7.3
|
)
|
|||||||||||||||||||||||||||||||||||||||
Repayment of acquired debt of KG Group Holdings
|
-
|
-
|
-
|
-
|
-
|
-
|
(174.1
|
)
|
-
|
-
|
(174.1
|
)
|
-
|
-
|
-
|
-
|
-
|
|||||||||||||||||||||||||||||||||||||||||||
Repayment of long-term debt
|
-
|
-
|
(0.1
|
)
|
-
|
(0.1
|
)
|
-
|
-
|
(0.1
|
)
|
-
|
(0.1
|
)
|
-
|
-
|
(0.2
|
)
|
-
|
(0.2
|
)
|
|||||||||||||||||||||||||||||||||||||||
Cash distributions to former owners of Stuart Weitzman Holdings
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
(19.0
|
)
|
-
|
(19.0
|
)
|
|||||||||||||||||||||||||||||||||||||||||||
Distributions to noncontrolling interests
|
-
|
-
|
(1.0
|
)
|
-
|
(1.0
|
)
|
-
|
-
|
(0.7
|
)
|
-
|
(0.7
|
)
|
-
|
-
|
(0.6
|
)
|
-
|
(0.6
|
)
|
|||||||||||||||||||||||||||||||||||||||
Payments of acquisition consideration payable
|
-
|
(151.0
|
)
|
(12.9
|
)
|
-
|
(163.9
|
)
|
-
|
-
|
(10.1
|
)
|
-
|
(10.1
|
)
|
-
|
-
|
(4.3
|
)
|
-
|
(4.3
|
)
|
||||||||||||||||||||||||||||||||||||||
Repurchases of common stock
|
-
|
(44.0
|
)
|
-
|
-
|
(44.0
|
)
|
-
|
(78.0
|
)
|
-
|
-
|
(78.0
|
)
|
-
|
(10.7
|
)
|
-
|
-
|
(10.7
|
)
|
|||||||||||||||||||||||||||||||||||||||
Proceeds from exercise of employee stock options
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
0.6
|
-
|
-
|
0.6
|
|||||||||||||||||||||||||||||||||||||||||||||
Dividends paid
|
-
|
(15.5
|
)
|
(15.7
|
)
|
15.7
|
(15.5
|
)
|
-
|
(16.6
|
)
|
(18.8
|
)
|
18.8
|
(16.6
|
)
|
-
|
(17.2
|
)
|
(15.9
|
)
|
15.9
|
(17.2
|
)
|
||||||||||||||||||||||||||||||||||||
Principal payments on capital leases
|
-
|
-
|
(1.9
|
)
|
-
|
(1.9
|
)
|
-
|
-
|
(1.7
|
)
|
-
|
(1.7
|
)
|
-
|
-
|
(2.6
|
)
|
-
|
(2.6
|
)
|
|||||||||||||||||||||||||||||||||||||||
Excess tax benefits from share-based payment arrangements
|
-
|
2.3
|
-
|
-
|
2.3
|
-
|
1.6
|
-
|
-
|
1.6
|
-
|
1.2
|
-
|
-
|
1.2
|
|||||||||||||||||||||||||||||||||||||||||||||
Net cash (used in) provided by financing activities
|
-
|
(107.6
|
)
|
(31.6
|
)
|
15.7
|
(123.5
|
)
|
-
|
23.0
|
(31.4
|
)
|
18.8
|
10.4
|
-
|
(33.4
|
)
|
(42.6
|
)
|
15.9
|
(60.1
|
)
|
||||||||||||||||||||||||||||||||||||||
Effect of exchange rates on cash
|
-
|
-
|
1.1
|
-
|
1.1
|
-
|
-
|
(0.6
|
)
|
-
|
(0.6
|
)
|
-
|
-
|
0.5
|
-
|
0.5
|
|||||||||||||||||||||||||||||||||||||||||||
Net (decrease) increase in cash and cash equivalents
|
-
|
(113.2
|
)
|
24.0
|
(89.2
|
)
|
-
|
32.8
|
5.2
|
-
|
38.0
|
-
|
(159.1
|
)
|
26.5
|
-
|
(132.6
|
)
|
||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents, beginning
|
-
|
195.8
|
43.0
|
-
|
238.8
|
-
|
163.0
|
37.8
|
-
|
200.8
|
-
|
322.1
|
11.3
|
-
|
333.4
|
|||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents, ending
|
$
|
-
|
$
|
82.6
|
$
|
67.0
|
$
|
-
|
$
|
149.6
|
$
|
-
|
$
|
195.8
|
$
|
43.0
|
$
|
-
|
$
|
238.8
|
-
|
$
|
163.0
|
$
|
37.8
|
$
|
-
|
$
|
200.8
|