XML 14 R2.htm IDEA: XBRL DOCUMENT v3.20.2
CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Oct. 31, 2020
Jan. 31, 2020
Oct. 31, 2019
Current assets:      
Cash and cash equivalents $ 163,218 $ 185,872 $ 116,025
Trade receivables, net 103,506 78,388 136,272
Inventories 176,841 171,406 201,164
Other current assets 28,028 28,888 30,737
Total current assets 471,593 464,554 484,198
Property, plant and equipment, net 24,002 29,238 29,275
Operating lease right-of-use assets 77,932 89,523 88,126
Deferred and non-current income taxes 54,748 25,403 28,191
Goodwill 0 136,366 135,280
Other intangibles, net 17,123 42,359 43,532
Other non-current assets 56,380 59,865 58,453
Total assets [1],[2] 701,778 847,308 867,055
Current liabilities:      
Accounts payable 35,562 35,488 33,757
Accrued liabilities 59,612 44,210 62,499
Accrued payroll and benefits 12,693 6,302 9,353
Current operating lease liabilities 14,210 15,083 14,579
Income taxes payable 11,275 8,217 17,243
Total current liabilities 133,352 109,300 137,431
Loans payable to bank 37,266 51,910 50,685
Deferred and non-current income taxes payable 20,893 25,419 26,370
Non-current operating lease liabilities 71,658 81,877 80,682
Other non-current liabilities 45,179 48,393 47,943
Total liabilities 308,348 316,899 343,111
Commitments and contingencies (Note 12)
Redeemable noncontrolling interest 2,772 3,165 3,263
Equity:      
Preferred Stock, $0.01 par value, 5,000,000 shares authorized; no shares issued 0 0 0
Capital in excess of par value 212,730 208,473 206,725
Retained earnings 313,696 455,479 456,579
Accumulated other comprehensive income 85,879 85,050 79,825
Treasury Stock, 11,492,591, 11,443,308 and 11,442,625 shares, respectively, at cost (223,306) (222,809) (222,792)
Total Movado Group, Inc. shareholders' equity 389,345 526,537 520,681
Noncontrolling interest 1,313 707 0
Total equity 390,658 527,244 520,681
Total liabilities, redeemable noncontrolling interest and equity 701,778 847,308 867,055
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 October 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 October 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 October 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.