XML 13 R2.htm IDEA: XBRL DOCUMENT v3.20.2
CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Jul. 31, 2020
Jan. 31, 2020
Jul. 31, 2019
Current assets:      
Cash and cash equivalents $ 170,195 $ 185,872 $ 134,890
Trade receivables, net 60,128 78,388 93,699
Inventories 173,374 171,406 200,953
Other current assets 29,856 28,888 32,113
Total current assets 433,553 464,554 461,655
Property, plant and equipment, net 25,888 29,238 28,248
Operating lease right-of-use assets 82,169 89,523 91,119
Deferred and non-current income taxes 59,747 25,403 24,621
Goodwill 0 136,366 131,936
Other intangibles, net 18,071 42,359 43,995
Other non-current assets 60,261 59,865 59,057
Total assets [1],[2] 679,689 847,308 840,631
Current liabilities:      
Accounts payable 29,929 35,488 50,281
Accrued liabilities 45,509 44,210 43,874
Accrued payroll and benefits 12,431 6,302 7,333
Current operating lease liabilities 14,766 15,083 14,609
Income taxes payable 6,774 8,217 10,800
Total current liabilities 109,409 109,300 126,897
Loans payable to bank 48,341 51,910 50,300
Deferred and non-current income taxes payable 20,743 25,419 26,593
Non-current operating lease liabilities 75,376 81,877 82,972
Other non-current liabilities 48,124 48,393 50,025
Total liabilities 301,993 316,899 336,787
Commitments and contingencies (Note 12)
Redeemable noncontrolling interest 3,037 3,165 3,540
Equity:      
Preferred Stock, $0.01 par value, 5,000,000 shares authorized; no shares issued 0 0 0
Capital in excess of par value 211,628 208,473 205,117
Retained earnings 298,871 455,479 443,414
Accumulated other comprehensive income 86,109 85,050 74,206
Treasury Stock, 11,490,610, 11,443,308 and 11,442,021 shares, respectively, at cost (223,283) (222,809) (222,777)
Total Movado Group, Inc. shareholders' equity 373,671 526,537 500,304
Noncontrolling interest 988 707 0
Total equity 374,659 527,244 500,304
Total liabilities, redeemable noncontrolling interest and equity 679,689 847,308 840,631
Common Stock Class Undefined      
Equity:      
Common Stock 281 279 279
Total equity [3] 281 279 279
Class A Common Stock      
Equity:      
Common Stock 65 65 65
Total equity [4] $ 65 $ 65 $ 65
[1] The decrease in the United States total assets at July 31, 2020 from January 31, 2020 is primarily due to the impairment charges related to goodwill of $77.5 million and $22.2 million related to intangible assets. The decrease in the International total assets at July 31, 2020 from January 31, 2020 is primarily due to the impairment charge related to goodwill of $56.2 million.          
[2] The decrease in total assets of the Watch and Accessory Brands segment at July 31, 2020 from January 31, 2020 is due primarily to the impairment charges related to goodwill of $133.7 million and $22.2 million related to intangible assets.      
[3] Each share of common stock is entitled to one vote per share on all matters submitted to a vote of the shareholders.
[4] 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.