Equity

3 Months Ended

Apr. 30, 2014

Equity

NOTE 3 – EQUITY

The components of equity for the three months ended April 30, 2014 and 2013 are as follows (in thousands):

	Movado Group, Inc. Shareholders’ Equity
	Common Stock		Class A Common Stock		Capital in Excess of Par Value		Retained Earnings			Treasury Stock			Accumulated Other Comprehensive Income		Noncontrolling Interests		Total
Balance, January 31, 2014	$	266	$	66	$	165,342	$	316,334		$	(122,406	)	$	103,702	$	2,686	$	465,990
Net income								7,365								64		7,429
Dividends								(2,523	)									(2,523	)
Stock repurchase											(5,312	)						(5,312	)
Stock options exercised, net of tax benefit of $858		2				856					(1,324	)						(466)
Supplemental executive retirement plan						18												18
Stock-based compensation expense						1,180												1,180
Net unrealized gain on investments, net of tax of $39														70				70
Stock donation						671					385							1,056
Foreign currency translation adjustment (1)														8,060		71		8,131
Balance, April 30, 2014	$	268	$	66	$	168,067	$	321,176		$	(128,657	)	$	111,832	$	2,821	$	475,573

	Common Stock		Class A Common Stock		Capital in Excess of Par Value		Retained Earnings			Treasury Stock			Accumulated Other Comprehensive Income			Noncontrolling Interests			Total
Balance, January 31, 2013	$	264	$	66	$	159,696	$	272,094		$	(110,701	)	$	102,271		$	2,002		$	425,692
Net income								8,210									(31	)		8,179
Dividends								(1,272	)											(1,272	)
Stock repurchase											(467	)								(467	)
Stock options exercised, net of tax benefit of $350		2				555					(1,160	)								(603	)
Supplemental executive retirement plan						6														6
Stock-based compensation expense						572														572
Net unrealized gain on investments, net of tax														1						1
Foreign currency translation adjustment (1)														(5,197	)		(38	)		(5,235	)
Balance, April 30, 2013	$	266	$	66	$	160,829	$	279,032		$	(112,328	)	$	97,075		$	1,933		$	426,873

(1) The currency translation adjustment is not adjusted for income taxes to the extent that they relate to permanent investments in international subsidiaries.