XML 51 R37.htm IDEA: XBRL DOCUMENT v3.25.4
Fair Value Measurement (Tables)
12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities
The Company’s financial assets and liabilities subject to fair value measurements as of December 31, 2025 and 2024 were as follows: 
December 31, 2025December 31, 2024
(in thousands)Fair valueLevel 1Level 2Level 3Fair valueLevel 1Level 2Level 3
Assets:
Forward contracts$302 $ $302 $— $2,175 $— $2,175 $— 
Total assets$302 $ $302 $ $2,175 $— $2,175 $— 
Liabilities:
Contingent payment liability(1)(2)
$14,880 $ $ $14,880 $7,565 $— $— $7,565 
Forward contracts2,328  2,328  816 — 816 — 
Total liabilities$17,208 $ $2,328 $14,880 $8,381 $— $816 $7,565 
(1) As of December 31, 2025, $14,880 was recorded in Contingent payment liability - long-term portion.
(2) As of December 31, 2024, $7,565 was recorded in Contingent payment liability - long-term portion.
December 31, 2025 and 2024:
 December 31, 2025December 31, 2024
Balance at beginning of year$7,565 $13,300 
Adjustments(1)(2)
(5,580)2,722 
Acquisitions12,895 90 
Payments(3)
 (8,547)
Balance at end of period$14,880 $7,565 
(1) In the 2025 period, amounts consisted of adjustments of $5,580 which were related to the change in valuation of the contingent payment liabilities in connection with the acquisitions of Kurt Geiger, Almost Famous, and ATM. The adjustments to Kurt Geiger were recorded in income from operations in the Consolidated Statements of Operations and allocated to the Wholesale Footwear, Wholesale Accessories/Apparel, and Direct-to-Consumer segments. Adjustments to Almost Famous and ATM were recorded in income from operations in the Consolidated Statements of Operations for the Wholesale Accessories/Apparel segment.
(2) In the 2024 period, amounts consisted of adjustments of $2,722, which were related to the change in valuation of the contingent payment liabilities in connection with the acquisitions of Almost Famous and ATM. These adjustments were recorded in income from operations in the Consolidated Statements of Operations for the Wholesale Accessories/Apparel segment.
(3) For the 2024 period, the payment of $8,547 was related to the contingent payment liability in connection with the acquisition of Almost Famous and was measured based upon actual EBIT performance for the related performance period. The payment was included as cash used in financing activities in the Consolidated Statement of Cash Flows for the year ended December 31, 2024.