XML 18 R7.htm IDEA: XBRL DOCUMENT v3.20.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jul. 31, 2020
Jul. 31, 2019
Jul. 31, 2020
Jul. 31, 2019
Jan. 31, 2020
Cash flows from operating activities:          
Net (loss)/income attributable to Movado Group, Inc. $ (6,615) $ 17,505 $ (156,608) $ 21,430  
Adjustments to reconcile net (loss)/income to net cash used in operating activities:          
Impairment of goodwill and intangible assets 0 0 155,919 0  
Non-cash corporate initiatives     6,608 0  
Change in contingent consideration 0 (13,627) 0 (13,627)  
Gain on sale of a non-operating asset (1,317) 0 (1,317) 0  
Depreciation and amortization     7,200 7,937  
Transactional losses/(gains)     237 443  
Provision for inventories and accounts receivable     1,148 1,285  
Deferred income taxes     (36,721) (2,415)  
Stock-based compensation     2,727 3,082  
Other     93 (106)  
Changes in assets and liabilities:          
Trade receivables     16,847 (11,198)  
Inventories     (1,505) (37,479)  
Other current assets     (2,415) (3,689)  
Accounts payable     (5,662) 12,811  
Accrued liabilities     664 447  
Accrued payroll and benefits     5,846 (11,370)  
Income taxes payable     (4,145) 77  
Other non-current assets     (845) (666)  
Other non-current liabilities     553 444  
Net cash used in operating activities     (11,376) (32,594)  
Cash flows from investing activities:          
Capital expenditures     (1,891) (6,948)  
Proceeds from sale of a non-operating asset     1,317 0  
Trademarks and other intangibles     (51) (99)  
Net cash used in investing activities     (625) (7,047)  
Cash flows from financing activities:          
Repayment of bank borrowings     (36,772) 0  
Proceeds from bank borrowings     30,879 0  
Stock awards and options exercised and other changes     (474) (1,234)  
Stock repurchase     0 (4,199)  
Dividends paid     0 (9,196)  
Debt issuance cost     (300) 0  
Net cash used in financing activities     (6,667) (14,629)  
Effect of exchange rate changes on cash, cash equivalents, and restricted cash     3,022 (751)  
Net decrease in cash, cash equivalents and restricted cash     (15,646) (55,021)  
Cash, cash equivalents and restricted cash at beginning of year     186,438 190,459 $ 190,459
Cash, cash equivalents and restricted cash at end of period 170,792 135,438 170,792 135,438 186,438
Reconciliation of cash, cash equivalents, and restricted cash:          
Cash and cash equivalents 170,195 134,890 170,195 134,890 185,872
Restricted cash included in other non-current assets 597 548 597 548  
Cash, cash equivalents and restricted cash at end of period $ 170,792 $ 135,438 $ 170,792 $ 135,438 $ 186,438