Consumer Discretionary › Watches, Clocks, Clockwork Operated Devices/Parts
FOSL Stock Price Correlated With Fossil Financials
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Income Statement
Cash Flow
Balance Sheet
FOSL Income Statement
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Net Income:
FOSL Cash Flow
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Operating Activities Net Income:
Depreciation, Depletion & Amortization:
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Repurchases/Buybacks Common Stock:
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Purchases of Businesses, Net of Cash:
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FOSL Balance Sheet
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COMPANY PROFILE
1. FINANCIAL STATEMENT POLICIES
Basis of Presentation. The condensed consolidated financial statements include the accounts of Fossil, Inc., a Delaware corporation, and its wholly and majority-owned subsidiaries (the "Company"). The condensed consolidated financial statements reflect all adjustments that are, in the opinion of management, necessary to present a fair statement of the Company's financial position as of July 2, 2011, and the results of operations for the thirteen week periods ended July 2, 2011 ("Second Quarter") and July 3, 2010 ("Prior Year Quarter"), respectively, and the twenty-six week periods ended July 2, 2011 ("Year To Date Period") and July 3, 2010 ("Prior Year YTD Period"), respectively. All adjustments are of a normal, recurring nature.
These interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in the Annual Report on Form 10-K filed by the Company pursuant to the Securities Exchange Act of 1934, as amended (the "Exchange Act"), for the fiscal year ended January 1, 2011. Operating results for the thirteen and twenty-six week periods ended July 2, 2011 are not necessarily indicative of the results to be achieved for the full year.
The condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") which require the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the condensed consolidated financial statements and revenues and expenses during the periods reported. Actual results could differ from those estimates. The Company has not made any changes in its significant accounting policies from those disclosed in its most recent annual report.
Business. The Company is a global design, marketing and distribution company that specializes in consumer fashion accessories. Its principal offerings include an extensive line of men's and women's fashion watches and jewelry, handbags, small leather goods, belts, sunglasses, soft accessories, shoes and clothing. In the watch and jewelry product category, the Company has a diverse portfolio of globally recognized owned and licensed brand names under which its products are marketed. The Company's products are distributed globally through various distribution channels including wholesale in countries where it has a physical presence, direct to the consumer through its retail stores and commercial websites and through third-party distributors in countries where the Company does not maintain a physical presence. The Company's products are offered at varying price points to service the needs of its customers, whether they are value conscious or luxury oriented. Based on its extensive range of accessory products, brands, distribution channels and price points, the Company is able to target style-conscious consumers across a wide age spectrum on a global basis.
Foreign Currency Hedging Instruments. The Company's foreign subsidiaries periodically enter into forward contracts principally to hedge the future payment of intercompany inventory transactions in U.S. dollars. If the Company's foreign subsidiaries were to settle their contracts designated as cash flow hedges that were denominated in European Euros, British Pounds, Mexican Pesos, Australian Dollars, Canadian Dollars and Japanese Yen, the net result would be a loss of approximately $ 13.7 million, net of taxes, as of July 2, 2011. Refer to Note 6—Derivatives and Risk Management in the condensed consolidated financial statements for additional disclosures about the Company's use of forward contracts. The tax benefit of changes in fair value of hedging activities for the Second Quarter and Year To Date Period were $ 0.6 million and $ 0.2 million, respectively. The tax expense of changes in fair value of hedging activities for the Prior Year
Basis of Presentation. The condensed consolidated financial statements include the accounts of Fossil, Inc., a Delaware corporation, and its wholly and majority-owned subsidiaries (the "Company"). The condensed consolidated financial statements reflect all adjustments that are, in the opinion of management, necessary to present a fair statement of the Company's financial position as of July 2, 2011, and the results of operations for the thirteen week periods ended July 2, 2011 ("Second Quarter") and July 3, 2010 ("Prior Year Quarter"), respectively, and the twenty-six week periods ended July 2, 2011 ("Year To Date Period") and July 3, 2010 ("Prior Year YTD Period"), respectively. All adjustments are of a normal, recurring nature.
These interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in the Annual Report on Form 10-K filed by the Company pursuant to the Securities Exchange Act of 1934, as amended (the "Exchange Act"), for the fiscal year ended January 1, 2011. Operating results for the thirteen and twenty-six week periods ended July 2, 2011 are not necessarily indicative of the results to be achieved for the full year.
The condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") which require the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the condensed consolidated financial statements and revenues and expenses during the periods reported. Actual results could differ from those estimates. The Company has not made any changes in its significant accounting policies from those disclosed in its most recent annual report.
Business. The Company is a global design, marketing and distribution company that specializes in consumer fashion accessories. Its principal offerings include an extensive line of men's and women's fashion watches and jewelry, handbags, small leather goods, belts, sunglasses, soft accessories, shoes and clothing. In the watch and jewelry product category, the Company has a diverse portfolio of globally recognized owned and licensed brand names under which its products are marketed. The Company's products are distributed globally through various distribution channels including wholesale in countries where it has a physical presence, direct to the consumer through its retail stores and commercial websites and through third-party distributors in countries where the Company does not maintain a physical presence. The Company's products are offered at varying price points to service the needs of its customers, whether they are value conscious or luxury oriented. Based on its extensive range of accessory products, brands, distribution channels and price points, the Company is able to target style-conscious consumers across a wide age spectrum on a global basis.
Foreign Currency Hedging Instruments. The Company's foreign subsidiaries periodically enter into forward contracts principally to hedge the future payment of intercompany inventory transactions in U.S. dollars. If the Company's foreign subsidiaries were to settle their contracts designated as cash flow hedges that were denominated in European Euros, British Pounds, Mexican Pesos, Australian Dollars, Canadian Dollars and Japanese Yen, the net result would be a loss of approximately $ 13.7 million, net of taxes, as of July 2, 2011. Refer to Note 6—Derivatives and Risk Management in the condensed consolidated financial statements for additional disclosures about the Company's use of forward contracts. The tax benefit of changes in fair value of hedging activities for the Second Quarter and Year To Date Period were $ 0.6 million and $ 0.2 million, respectively. The tax expense of changes in fair value of hedging activities for the Prior Year
Free historical financial statements for Fossil Group Inc. See how revenue, income, cash flow, and balance sheet financials have changed over 52 quarters since 2011. Compare with FOSL stock chart to see long term trends.
Data imported from Fossil Group Inc SEC filings. Check original filings before making any investment decision.