ROCKY BRANDS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014
CURRENT ASSETS:
Cash and cash equivalents	$ 4,391,765	$ 4,616,694	$ 4,203,846
Trade receivables – net	54,271,919	55,807,103	52,735,602
Other receivables	618,179	476,480	357,133
Inventories	83,125,271	85,237,042	78,308,659
Income tax receivable	52,961		759,938
Deferred income taxes	1,291,907	1,291,907	1,104,050
Prepaid expenses	3,078,008	2,553,442	2,708,168
Total current assets	146,830,010	149,982,668	140,177,396
FIXED ASSETS – net	25,331,520	26,264,641	27,971,316
IDENTIFIED INTANGIBLES	36,649,003	36,681,644	36,773,351
OTHER ASSETS	277,305	299,490	322,863
TOTAL ASSETS	209,087,838	213,228,443	205,244,926
CURRENT LIABILITIES:
Accounts payable	13,894,921	15,116,131	19,583,618
Accrued expenses:
Salaries and wages	909,487	1,773,061	899,044
Taxes - other	439,220	532,470	563,816
Accrued freight	534,100	683,482	1,055,875
Commissions	505,585	681,185	522,301
Accrued duty	2,465,913	2,693,223	1,680,971
Income taxes payable		2,687,535
Other	1,173,185	1,042,653	1,110,371
Total current liabilities	19,922,411	25,209,740	25,415,996
LONG TERM DEBT	36,691,449	36,270,373	36,590,000
DEFERRED INCOME TAXES	12,928,048	12,928,048	11,750,718
DEFERRED LIABILITIES	434,625	472,364	255,906
TOTAL LIABILITIES	69,976,533	74,880,525	74,012,620
Common stock, no par value;
25,000,000 shares authorized; issued and outstanding March 31, 2015 - 7,559,725; December 31, 2014 - 7,550,126 and March 31, 2014 - 7,539,808	70,566,065	70,460,672	70,202,570
Retained earnings	68,545,240	67,887,246	61,029,736
Total shareholders' equity	139,111,305	138,347,918	131,232,306
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 209,087,838	$ 213,228,443	$ 205,244,926