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Restatement (Tables)
 3 Months Ended
Mar. 31, 2016
Accounting Changes And Error Corrections [Abstract]  
Adjustment Previously Reported Unaudited Condensed Consolidated Statements of Income and Comprehensive Income

The impact of all of the changes described above on the Company’s previously reported consolidated financial statements for the years ended December 31, 2013 and December 31, 2014 were reflected in the financial statements included in the Company’s Form 10-K for the year ended December 31, 2015 filed on March 30, 2016, as amended.  The impact of these changes on the Company’s previously reported financial statements for the quarter ended March 31, 2015 are identified in the table below:

 

 

Three Months Ended March 31, 2015

(unaudited)

 

 

As Previously

Reported

 

 

Adjustments

 

 

As Restated

 

Licensing revenue

$

93,797

 

 

$

2,017

 

 

$

95,814

 

Total revenue

 

93,797

 

 

 

2,017

 

 

 

95,814

 

Selling, general and administrative expenses

 

39,871

 

 

 

(181

)

 

 

39,690

 

Depreciation and amortization

 

1,337

 

 

 

—

 

 

 

1,337

 

Equity earnings on joint ventures (1)

 

—

 

 

 

(1,187

)

 

 

(1,187

)

Operating income

 

52,589

 

 

 

3,385

 

 

 

55,974

 

Other expenses (income) - net (1)

 

(40,528

)

 

 

185

 

 

 

(40,343

)

Income before taxes

 

93,117

 

 

 

3,200

 

 

 

96,317

 

Provision for income taxes

 

26,365

 

 

 

907

 

 

 

27,272

 

Net income

 

66,752

 

 

 

2,293

 

 

 

69,045

 

Less:  Net income attributable to non-controlling interest

 

3,067

 

 

 

620

 

 

 

3,687

 

Net income attributable to Iconix Brand Group, Inc.

$

63,685

 

 

$

1,673

 

 

$

65,358

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share:

 

 

 

 

 

 

 

 

 

 

 

Basic

$

1.32

 

 

$

0.04

 

 

$

1.36

 

Diluted

$

1.23

 

 

$

0.03

 

 

$

1.26

 

 

 

 

 

 

 

 

 

 

 

 

 

Comprehensive income

$

28,521

 

 

$

2,788

 

 

$

31,309

 

Comprehensive income attributable to Iconix Brand

   Group, Inc.

$

25,454

 

 

$

2,168

 

 

$

27,622

 

 

(1)

Equity earnings from joint ventures was previously reported within other expenses – net and has been reclassified and is being presented as a component of operating income.

The Company intends to amend its Forms 10-Q for the quarterly periods ended March 31, June 30, and September 30, 2015 to reflect the restatement adjustments applicable to the periods presented therein.