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Condensed Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Net sales $ 2,111,296 $ 1,853,902 $ 1,188,943
Commission and licensing fee income 10,713 12,240 12,871
Total revenue 2,122,009 1,866,142 1,201,814
Cost of sales (exclusive of depreciation and amortization) 1,248,173 1,098,645 737,273
Gross profit 873,836 767,497 464,541
Operating expenses (592,192) (519,848) (414,978)
Impairment of Intangible Assets (Excluding Goodwill) 0 2,620 44,273
Impairment of lease right-of-use assets and fixed assets 0 1,432 36,895
Income/(loss) from operations 281,644 243,597 (31,605)
Interest and other income/(expense) - net 676 (1,529) 1,620
Income/(loss) before provision/(benefit) for income taxes 282,320 242,068 (29,985)
Provision/(benefit) for income taxes 65,103 49,609 (11,704)
Net income/(loss) $ 217,217 $ 192,459 $ (18,281)
Basic net income/(loss) per share $ 2.84 $ 2.43 $ (0.23)
Diluted net income/(loss) per share $ 2.77 $ 2.34 $ (0.23)
Basic weighted average common shares outstanding 76,021 78,442 78,635
Effect of dilutive securities – options/restricted stock 2,048 3,186 0
Diluted weighted average common shares outstanding 78,069 81,628 78,635
Cash dividends declared per common share $ 0.84 $ 0.60 $ 0.15
Noncontrolling Interest      
Less: net income attributable to noncontrolling interest $ 1,156 $ 1,781 $ 116
Retained Earnings      
Net income/(loss) attributable to Steven Madden, Ltd. $ 216,061 $ 190,678 $ (18,397)