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CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)
$ in Thousands
Total
Common Stock
Common Stock Class Undefined
[1]
Common Stock
Class A Common Stock
[2]
Capital in Excess of Par Value
Retained Earnings
Accumulated Other Comprehensive Income
Treasury Stock
Noncontrolling Interests
Redeemable Noncontrolling Interests
Beginning Balance at Jan. 31, 2019 $ 496,655 $ 277 $ 65 $ 201,814 $ 431,180 $ 80,507 $ (217,188)    
Beginning Balance at Jan. 31, 2019                 $ 3,721
Net income/(loss) attributable to Movado Group, Inc. 42,806       42,699     $ 107  
Net income/ (loss) attributable to redeemable noncontrolling interests                 (427)
Dividends (18,400)       (18,400)        
Stock options exercised (1,266) 2   154     (1,422)    
Joint venture purchase 614             614  
Stock repurchase (4,199)           (4,199)    
Supplemental executive retirement plan 132     132          
Stock-based compensation expense 6,373     6,373          
Net unrealized gain (loss) on investments, net of tax provision (benefit) 5         5      
Net change in effective portion of hedging contracts, net of tax provision (benefit) 0                
Amortization of prior service cost, net of tax provision 53         53      
Net actuarial loss arising during period, net of tax benefit (52)         (52)      
Foreign currency translation adjustment [3] 4,523         4,537   (14) (129)
Ending Balance at Jan. 31, 2020 527,244 279 65 208,473 455,479 85,050 (222,809) 707  
Ending Balance at Jan. 31, 2020                 3,165
Net income/(loss) attributable to Movado Group, Inc. (110,327)       (111,518)     1,191  
Net income/ (loss) attributable to redeemable noncontrolling interests                 (867)
Dividends [4] (2,320)       (2,320)        
Stock options exercised (497) 2   (2)     (497)    
Supplemental executive retirement plan 141     141          
Stock-based compensation expense [5] 5,431     5,431          
Net change in effective portion of hedging contracts, net of tax provision (benefit) 0                
Amortization of prior service cost, net of tax provision 23         23      
Net actuarial loss arising during period, net of tax benefit (354)         (354)      
Foreign currency translation adjustment [3] 7,993         7,821   172 302
Ending Balance at Jan. 31, 2021 427,334 281 65 214,043 341,641 92,540 (223,306) 2,070  
Ending Balance at Jan. 31, 2021 2,600               2,600
Net income/(loss) attributable to Movado Group, Inc. 92,622       91,599     1,023  
Net income/ (loss) attributable to redeemable noncontrolling interests                 (63)
Dividends (19,653)       (19,653)        
Distribution of noncontrolling interest earnings (1,230)             (1,230)  
Stock options exercised 324 5   3,454     (3,135)    
Joint venture purchase 298             298  
Stock repurchase (22,599)           (22,599)    
Supplemental executive retirement plan 166     166          
Stock-based compensation expense 4,952     4,952          
Net unrealized gain (loss) on investments, net of tax provision (benefit) 48         48      
Net change in effective portion of hedging contracts, net of tax provision (benefit) 194         194      
Amortization of prior service cost, net of tax provision 57         57      
Net actuarial loss arising during period, net of tax benefit 897         897      
Foreign currency translation adjustment [3] (8,635)         (8,441)   (194) (226)
Ending Balance at Jan. 31, 2022 474,775 $ 286 $ 65 $ 222,615 $ 413,587 $ 85,295 $ (249,040) $ 1,967  
Ending Balance at Jan. 31, 2022 $ 2,311               $ 2,311
[1] Each share of common stock is entitled to one vote per share on all matters submitted to a vote of the shareholders.
[2] Each share of class A common stock is entitled to 10 votes per share on all matters submitted to a vote of the shareholders. Each holder of class A common stock is entitled to convert, at any time, any and all of such shares into the same number of shares of common stock. Each share of class A common stock is converted automatically into common stock in the event that the beneficial or record ownership of such shares of class A common stock is transferred to any person, except to certain family members or affiliated persons deemed “permitted transferees” pursuant to the Company’s Restated Certificate of Incorporation as amended. The class A common stock is not publicly traded and consequently, there is currently no established public trading market for these shares.
[3] The currency translation adjustment is not adjusted for income taxes to the extent that it relates to permanent investments of earnings in international subsidiaries.
[4] Dividends declared on January 11, 2021 to shareholders of record on January 21, 2021 payable on February 5, 2021.
[5] Includes $0.4 million related to the Restructuring Plan of the corporate initiatives.