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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Jul. 31, 2019
Jan. 31, 2019
Jul. 31, 2018
Current assets:      
Cash and cash equivalents $ 134,890 $ 189,911 $ 175,583
Trade receivables, net 93,699 84,026 83,818
Inventories 200,953 165,311 171,417
Other current assets 32,113 28,898 37,852
Total current assets 461,655 468,146 468,670
Property, plant and equipment, net 28,248 26,067 24,533
Operating lease right-of-use assets 91,119 0 0
Deferred and non-current income taxes 24,621 24,503 8,074
Goodwill 131,936 136,033 55,744
Other intangibles, net 43,995 48,183 19,976
Other non-current assets 59,057 56,769 50,251
Total assets [1] 840,631 759,701 627,248
Current liabilities:      
Accounts payable 50,281 38,650 34,578
Accrued liabilities 43,874 44,429 41,597
Accrued payroll and benefits 7,333 18,773 8,457
Current operating lease liabilities 14,609 0 0
Income taxes payable 10,800 10,831 5,996
Total current liabilities 126,897 112,683 90,628
Loans payable to bank 50,300 50,280 0
Deferred and non-current income taxes payable 26,593 29,242 29,718
Non-current operating lease liabilities 82,972 0 0
Other non-current liabilities 50,025 67,120 43,548
Total liabilities 336,787 259,325 163,894
Commitments and contingencies (Note 9)
Redeemable noncontrolling interest 3,540 3,721 0
Equity:      
Preferred Stock, $0.01 par value, 5,000,000 shares authorized; no shares issued 0 0 0
Capital in excess of par value 205,117 201,814 198,246
Retained earnings 443,414 431,180 396,041
Accumulated other comprehensive income 74,206 80,507 80,402
Treasury Stock, 11,442,021, 11,268,492 and 11,117,050 shares, respectively, at cost (222,777) (217,188) (211,677)
Total Movado Group, Inc. shareholders' equity 500,304 496,655 463,354
Total liabilities, redeemable noncontrolling interest and equity 840,631 759,701 627,248
Common Stock Class Undefined      
Equity:      
Common Stock 279 277 276
Total Movado Group, Inc. shareholders' equity [2] 279 277 276
Class A Common Stock      
Equity:      
Common Stock 65 65 66
Total Movado Group, Inc. shareholders' equity [3] $ 65 $ 65 $ 66
[1] Total assets at July 31, 2019 include $49.4 million and $41.7 million of operating lease right-of-use assets within Watch and Accessory Brands and Company Stores, respectively, recorded as a result of the Company’s adoption of ASU 2016-02 on February 1, 2019 (see Note 10 – Leases).
[2] Each share of common stock is entitled to one vote per share on all matters submitted to a vote of the shareholders.
[3] 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.