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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
1 Months Ended 3 Months Ended 12 Months Ended
Jan. 31, 2016
Mar. 31, 2017
Mar. 31, 2016
Dec. 31, 2016
Cash flows from operating activities:        
Net income from continuing operations   $ 6,890 $ 17,656  
Income (loss) from discontinued operations, net of income taxes   (7,379) 5,465  
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation of property and equipment   434 418  
Amortization of trademarks and other intangibles   219 547  
Amortization of deferred financing costs and debt discount   1,558 1,150  
Amortization of convertible note discount   4,346 7,983  
Stock-based compensation expense   1,722 2,006  
Provision for doubtful accounts   2,626 3,625  
Earnings on equity investments in joint ventures   (933) (1,193)  
Distributions from equity investments   1,182 704  
Gain on sale of trademarks, net   0 (10,969)  
Loss on extinguishment of debt   5,482    
Deferred income tax provision   113 5,830  
Loss on foreign currency translation   429 617  
Changes in operating assets and liabilities, net of business acquisitions:        
Accounts receivable   2,013 (6,775)  
Other assets – current   2,239 (859)  
Other assets   681 (357)  
Deferred revenue   586 (4,153)  
Accounts payable and accrued expenses   (21,054) (681)  
Other tax liabilities   3,148    
Other liabilities   220 929  
Net cash provided by continuing operating activities   11,901 16,478  
Net cash provided by (used in) discontinued operating activities   (1,352) 15,573  
Net cash provided by operating activities   10,549 32,051  
Cash flows provided by (used in) investing activities:        
Purchases of property and equipment   (179) (316)  
Additions to trademarks   (11) (227)  
Net cash provided by (used in) continuing investing activities   (740) 22,057  
Net cash provided by (used in) discontinued investing activities   (31) 102  
Net cash provided by (used in) investing activities   (771) 22,159  
Cash flows provided by (used in) financing activities:        
Prepaid financing costs     (9,430)  
Payment of long-term debt   (105,921) (15,282)  
Payment of make-whole premium on repayment of long-term debt   (6,751)    
Payment to Purim     (2,000)  
Proceeds from sale of trademarks and related notes receivable from consolidated JVs   2,947 195  
Distributions to non-controlling interests   (2,917) (2,901)  
Tax benefit related to amortization of convertible notes' discount   22 54  
Cost of shares repurchased on vesting of restricted stock and exercise of stock options   (843)    
Restricted cash   78,544 8,881  
Net cash used in continuing financing activities   (34,919) (20,483)  
Net cash provided used in financing activities   (34,919) (20,483)  
Effect of exchange rate changes on cash   508 3,085  
Net increase (decrease) in cash and cash equivalents   (24,633) 36,812  
Cash and cash equivalents, beginning of period $ 169,971 149,411 169,971 $ 169,971
Cash and cash equivalents, end of period   124,778 206,783 149,411
Less: Cash and cash equivalents of held for sale   15,403 30,864  
Cash and cash equivalents of continuing operations, end of period   109,375 175,919 $ 137,114
Cash paid during the period:        
Income taxes (net of refunds received)   5,763 3,648  
Interest   24,389 11,540  
Non-cash investing and financing activities:        
Make-whole premium on repayment of long-term debt   15,737    
Financing costs included in accrued expenses     165  
Restricted Stock        
Non-cash investing and financing activities:        
Shares repurchased on vesting of restricted stock included in accrued expenses     70  
Iconix MENA        
Cash flows provided by (used in) investing activities:        
Acquisition of additional interest in Iconix MENA   (1,800)    
American Greetings Corporation        
Cash flows provided by (used in) investing activities:        
Proceeds received from note   1,250 1,250  
Buffalo International Unlimited Liability Corporation        
Cash flows provided by (used in) investing activities:        
Proceeds received from note     4,100  
BBC and Ice Cream brands        
Adjustments to reconcile net income to net cash provided by operating activities:        
Gain on sale of trademarks, net   $ 600 593 [1]  
Cash flows provided by (used in) investing activities:        
Proceeds from sale of interest $ 3,500   3,500  
Badgley Mischka Intellectual Property / MJCLK Apparel License        
Cash flows provided by (used in) investing activities:        
Proceeds from sale of rights     $ 13,750  
[1] In January 2016, the Company sold its interest in the BBC and Ice Cream brands for $3.5 million in cash. The Company recognized a loss of $0.6 million as a result of this transaction.