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Equity (Tables)

9 Months Ended

Oct. 31, 2024

The components of equity for the three and nine months ended October 31, 2024 and 2023 are as follows (in thousands):


					Movado Group, Inc. Shareholders' Equity for the three months ended October 31, 2024 and 2023
	Preferred Stock		Common Stock Shares (1)		Common Stock Amount		Class A Common Stock Shares (2)		Class A Common Stock Amount		Capital in Excess of Par Value		Retained Earnings			Accumulated Other Comprehensive Income			Treasury Stock			Noncontrolling Interest			Total Movado Group, Inc. Shareholders' Equity
Balance, July 31, 2024	$	—		29,170	$	292		6,458	$	64	$	242,039	$	461,382		$	87,838		$	(287,499	)	$	2,459		$	506,575
Net income attributable to Movado Group, Inc.														5,050									383			5,433
Dividends ($0.35 per share)														(7,772	)											(7,772	)
Stock awards and options exercised				5																(26	)					(26	)
Stock repurchases																				(1,542	)					(1,542	)
Conversion of Class A Common Stock to Common Stock																										-
Supplemental executive retirement plan												33														33
Stock-based compensation expense												1,239														1,239
Net unrealized gain on investments, net of tax provision of $1																	4									4
Net change in effective portion of hedging contracts, net of tax provision of $39																	202									202
Amortization of prior service cost, net of tax provision of $3																	13									13
Foreign currency translation adjustment (3)																	2,266						(1	)		2,265
Balance, October 31, 2024	$	—		29,175	$	292		6,458	$	64	$	243,311	$	458,660		$	90,323		$	(289,067	)	$	2,841		$	506,424

	Preferred Stock		Common Stock Shares (1)		Common Stock Amount		Class A Common Stock Shares (2)		Class A Common Stock Amount		Capital in Excess of Par Value		Retained Earnings			Accumulated Other Comprehensive Income			Treasury Stock			Noncontrolling Interest			Total Movado Group, Inc. Shareholders' Equity
Balance, July 31, 2023	$	—		28,876	$	289		6,483	$	64	$	234,443	$	456,279		$	91,810		$	(282,101	)	$	3,114		$	503,898
Net income attributable to Movado Group, Inc.														17,389									281			17,670
Dividends ($0.35 per share)														(7,749	)											(7,749	)
Distribution of noncontrolling interest earnings																							(780	)		(780	)
Stock awards and options exercised				3																19						19
Stock repurchases																				(1,916	)					(1,916	)
Supplemental executive retirement plan												45														45
Stock-based compensation expense												1,950														1,950
Net unrealized loss on investments, net of tax benefit of ($3)																	(9	)								(9	)
Net change in effective portion of hedging contracts, net of tax benefit of ($5)																	(23	)								(23	)
Amortization of prior service cost, net of tax provision of $4																	15									15
Foreign currency translation adjustment (3)																	(10,066	)					(136	)		(10,202	)
Balance, October 31, 2023	$	—		28,879	$	289		6,483	$	64	$	236,438	$	465,919		$	81,727		$	(283,998	)	$	2,479		$	502,918


					Movado Group, Inc. Shareholders' Equity for the nine months ended October 31, 2024 and 2023
	Preferred Stock		Common Stock Shares (1)		Common Stock Amount		Class A Common Stock Shares (2)			Class A Common Stock Amount			Capital in Excess of Par Value		Retained Earnings			Accumulated Other Comprehensive Income			Treasury Stock			Noncontrolling Interest			Total Movado Group, Inc. Shareholders' Equity
Balance, January 31, 2024	$	—		29,004	$	290		6,483		$	64		$	239,062	$	470,317		$	92,335		$	(285,270	)	$	2,159		$	518,957
Net income attributable to Movado Group, Inc.																11,662									695			12,357
Dividends ($1.05 per share)																(23,319	)											(23,319	)
Stock awards and options exercised				145		2								66								(1,169	)					(1,101	)
Stock repurchases																						(2,628	)					(2,628	)
Conversion of Class A Common Stock to Common Stock				25				(25	)																			-
Supplemental executive retirement plan				1										89														89
Stock-based compensation expense														4,094														4,094
Net unrealized gain on investments, net of tax provision of $8																			24									24
Net change in effective portion of hedging contracts, net of tax provision of $34																			174									174
Amortization of prior service cost, net of tax provision of $10																			37									37
Foreign currency translation adjustment (3)																			(2,247	)					(13	)		(2,260	)
Balance, October 31, 2024	$	—		29,175	$	292		6,458		$	64		$	243,311	$	458,660		$	90,323		$	(289,067	)	$	2,841		$	506,424

	Preferred Stock		Common Stock Shares (1)		Common Stock Amount		Class A Common Stock Shares (2)			Class A Common Stock Amount			Capital in Excess of Par Value		Retained Earnings			Accumulated Other Comprehensive Income			Treasury Stock			Noncontrolling Interest			Total Movado Group, Inc. Shareholders' Equity
Balance, January 31, 2023	$	—		28,807	$	288		6,525		$	65		$	230,782	$	476,752		$	81,295		$	(281,576	)	$	2,938		$	510,544
Net income attributable to Movado Group, Inc.																34,566									568			35,134
Dividends ($2.05 per share)																(45,399	)											(45,399	)
Distribution of noncontrolling interest earnings																									(780	)		(780	)
Stock awards and options exercised				30																		(73	)					(73	)
Stock repurchases																						(2,349	)					(2,349	)
Conversion of Class A Common Stock to Common Stock				42		1		(42	)		(1	)																-
Supplemental executive retirement plan														127														127
Stock-based compensation expense														5,529														5,529
Net unrealized loss on investments, net of tax benefit of ($13)																			(38	)								(38	)
Net change in effective portion of hedging contracts, net of tax provision of $33																			169									169
Amortization of prior service cost, net of tax provision of $12																			45									45
Foreign currency translation adjustment (3)																			256						(247	)		9
Balance, October 31, 2023	$	—		28,879	$	289		6,483		$	64		$	236,438	$	465,919		$	81,727		$	(283,998	)	$	2,479		$	502,918

(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.