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10-K
ICONIX BRAND GROUP, INC. filed this Form 10-K on 03/28/2019
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Iconix Brand Group, Inc. and Subsidiaries

Consolidated Statements of Operations

(in thousands, except earnings per share data)

 

 

 

Year

Ended

 

 

Year

Ended

 

 

 

December 31,

2018

 

 

December 31,

2017

 

Licensing revenue

 

$

187,689

 

 

$

225,833

 

Selling, general and administrative expenses

 

 

121,429

 

 

 

114,606

 

Loss on termination of licenses

 

 

10,550

 

 

 

28,360

 

Depreciation and amortization

 

 

2,329

 

 

 

2,455

 

Equity (earnings) loss on joint ventures

 

 

(3,043

)

 

 

3,259

 

Gain on deconsolidation of joint venture

 

 

 

 

 

(3,772

)

Gains on sale of trademarks, net

 

 

(1,268

)

 

 

(875

)

Goodwill impairment

 

 

37,812

 

 

 

103,877

 

Trademark impairment

 

 

136,417

 

 

 

525,726

 

Investment impairment

 

 

2,500

 

 

 

16,848

 

Operating loss

 

 

(119,037

)

 

 

(564,651

)

Other expenses (income):

 

 

 

 

 

 

 

 

Interest expense

 

 

59,214

 

 

 

67,901

 

Interest income

 

 

(495

)

 

 

(480

)

Other income, net

 

 

(91,305

)

 

 

(2,650

)

(Gain) loss on extinguishment of debt

 

 

(4,473

)

 

 

20,939

 

Foreign currency translation loss

 

 

1,153

 

 

 

3,071

 

Other expenses (income) – net

 

 

(35,906

)

 

 

88,781

 

Loss from continuing operations before income taxes

 

 

(83,131

)

 

 

(653,432

)

Provision (benefit) for income taxes

 

 

6,538

 

 

 

(95,977

)

Net loss from continuing operations

 

 

(89,669

)

 

 

(557,455

)

Less: Net gain (loss) attributable to non-controlling interest from continuing

   operations

 

 

10,852

 

 

 

(22,177

)

Net loss from continuing operations attributable to Iconix Brand

   Group, Inc.

 

 

(100,521

)

 

 

(535,278

)

 

 

 

 

 

 

 

 

 

Loss from discontinued operations before income taxes

 

 

 

 

 

(26,232

)

Gain on sale of Entertainment segment

 

 

 

 

 

104,099

 

Provision for income taxes

 

 

 

 

 

28,899

 

Net income from discontinued operations

 

 

 

 

 

48,968

 

Less: Net income attributable to non-controlling interest from discontinued

   operations

 

 

 

 

 

2,943

 

Net income from discontinued operations attributable to Iconix Brand Group, Inc.

 

 

 

 

 

46,025

 

 

 

 

 

 

 

 

 

 

Net loss attributable to Iconix Brand Group, Inc.

 

$

(100,521

)

 

$

(489,253

)

 

 

 

 

 

 

 

 

 

(Loss) earnings per share - basic:

 

 

 

 

 

 

 

 

Continuing operations

 

$

(15.73

)

 

$

(94.71

)

Discontinued operations

 

$

 

 

$

8.06

 

(Loss) earnings per share - basic:

 

$

(15.73

)

 

$

(86.65

)

 

 

 

 

 

 

 

 

 

(Loss) earnings per share - diluted:

 

 

 

 

 

 

 

 

Continuing operations

 

$

(15.73

)

 

$

(94.71

)

Discontinued operations

 

$

 

 

$

8.06

 

(Loss) earnings per share - diluted

 

$

(15.73

)

 

$

(86.65

)

 

 

 

 

 

 

 

 

 

Weighted average number of common shares outstanding:

 

 

 

 

 

 

 

 

Basic

 

 

6,734

 

 

 

5,711

 

Diluted

 

 

6,734

 

 

 

5,711

 

 

See accompanying notes to consolidated financial statements.

 

61


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