0001558370-24-003856 | 10-K | XBRL Viewer | G III Apparel Group LTD DE

Weighted Average

Fair Value

Amortization Period

Trademarks

Customer relationships

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Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jan. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

CONCENTRATION	12 Months Ended
Jan. 31, 2024
CONCENTRATION [Abstract]
CONCENTRATION	NOTE 12 — CONCENTRATION Three customers in the wholesale operations segment accounted for approximately 19.2%, 13.6% and 10.1%, respectively, of the Company’s net sales for the year ended January 31, 2024. Two customers in the wholesale operations segment accounted for approximately 21.6% and 15.4%, respectively, of the Company’s net sales for the year ended January 31, 2023. Three customers in the wholesale operations segment accounted for approximately 23.9%, 14.8% and 12.7%, respectively, of the Company’s net sales for the year ended January 31, 2022. Three customers in the wholesale operations segment accounted for approximately 21.4%, 13.3%, and 12.2%, respectively, of the Company’s net accounts receivable as of January 31, 2024. Four customers in the wholesale operations segment accounted for approximately 22.9%, 13.2%, 12.3% and 11.5%, respectively, of the Company’s net accounts receivable as of January 31, 2023.

CONCENTRATION

12 Months Ended

Jan. 31, 2024

CONCENTRATION [Abstract]

CONCENTRATION

NOTE 12 — CONCENTRATION

Three customers in the wholesale operations segment accounted for approximately 19.2%, 13.6% and 10.1%, respectively, of the Company’s net sales for the year ended January 31, 2024. Two customers in the wholesale operations segment accounted for approximately 21.6% and 15.4%, respectively, of the Company’s net sales for the year ended January 31, 2023. Three customers in the wholesale operations segment accounted for approximately 23.9%, 14.8% and 12.7%, respectively, of the Company’s net sales for the year ended January 31, 2022. Three customers in the wholesale operations segment accounted for approximately 21.4%, 13.3%, and 12.2%, respectively, of the Company’s net accounts receivable as of January 31, 2024. Four customers in the wholesale operations segment accounted for approximately 22.9%, 13.2%, 12.3% and 11.5%, respectively, of the Company’s net accounts receivable as of January 31, 2023.

STOCKHOLDERS' EQUITY - Information Regarding All Stock Options (Details) - $ / shares	12 Months Ended
	Jan. 31, 2023	Jan. 31, 2022
Shares
Stock options outstanding at beginning of year	10,000	18,245
Cancelled or forfeited	(10,000)	(8,245)
Stock options outstanding at end of year		10,000
Exercisable		10,000
Weighted Average Exercise Price
Stock options outstanding at beginning of year	$ 18.11	$ 23.63
Cancelled or forfeited	$ 18.11	30.32
Stock options outstanding at end of year		18.11
Exercisable		$ 18.11

INCOME TAXES (Tables)

12 Months Ended

Jan. 31, 2024

INCOME TAXES [Abstract]

Schedule of components of income tax provision


	Year Ended January 31,
	2024		2023		2022

	(In thousands)
Current
Federal	$	42,376	$	27,982	$	39,283
State and city		9,768		8,278		4,484
Foreign		9,971		14,647		5,991
		62,115		50,907		49,758
Deferred
Federal		6,469		(50,764)		17,090
State and city		878		(4,457)		2,116
Foreign		(3,603)		526		1,911
		3,744		(54,695)		21,117
Income tax expense (benefit)	$	65,859	$	(3,788)	$	70,875
Income (loss) before income taxes
United States	$	218,528	$	(106,086)	$	234,034
Non-United States		22,071		(32,084)		36,942
	$	240,599	$	(138,170)	$	270,976

Schedule of significant components of net deferred tax assets


	2024		2023

	(In thousands)
Deferred income tax assets:
Compensation	$	3,444	$	879
Inventory		13,756		12,197
Provision for bad debts and sales allowances		11,918		15,237
Supplemental employee retirement plan		792		688
Net operating loss		40,183		33,749
Operating lease liability		52,341		56,519
Foreign tax credit carryforward		5,594		3,865
Section 174 R&D amortization		1,016		478
Other		4,919		—
Gross deferred income tax assets		133,963		123,612
Less: valuation allowance		(39,140)		(33,087)
Net deferred income tax assets		94,823		90,525
Deferred income tax liabilities:
Depreciation and amortization		(15,821)		(6,268)
Intangibles		(51,071)		(48,760)
Operating lease asset		(46,546)		(50,995)
Accrued expenses		—		(57)
Prepaid expenses and other		(2,149)		(2,279)
Other		(2,724)		(560)
Total deferred income tax liabilities		(118,311)		(108,919)
Net deferred income tax liabilities	$	(23,488)	$	(18,394)

Schedule of reconciliation of statutory federal income tax rate to effective rate reported in financial statements


	2024		2023		2022
Provision for Federal income taxes at the statutory rate	21.0	%	21.0	%	21.0	%
State and local income taxes, net of Federal tax benefit	3.7		(2.1)		2.0
Permanent differences	2.8		(2.1)		2.8
U.S. tax on foreign earnings	1.8		(6.0)		1.5
Foreign tax rate differential	1.0		1.2		—
Foreign tax credit	(2.9)		7.9		(3.4)
Valuation allowance	0.4		(3.1)		0.8
Goodwill impairment	—		(17.3)		—
Non-taxable capital gain	—		5.1		—
Other, net⁽¹⁾	(0.4)		(1.9)		1.5
Actual provision for income taxes	27.4	%	2.7	%	26.2	%

Schedule of reconciliation of the beginning and ending amounts of gross unrecognized tax benefits (excluding interest and penalties)



	2024		2023		2022

	(In thousands)
Balance at February 1,	$	3,582	$	2,442	$	2,293
Additions based on tax positions related to the current year		57		245		—
Additions for tax positions of prior years		1,015		895		595
Reductions for tax positions of prior years		(413)		—		—
Lapses of statutes of limitations		—		—		(446)
Balance at January 31,	$	4,241	$	3,582	$	2,442

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jan. 31, 2024	Jan. 31, 2023
Current assets
Cash and cash equivalents	$ 507,829	$ 191,652
Accounts receivable, net of allowance for doubtful accounts of $1,471 and $18,297, respectively	562,363	674,963
Inventories	520,426	709,345
Prepaid income taxes	1,356	5,886
Prepaid expenses and other current assets	68,344	70,654
Total current assets	1,660,318	1,652,500
Investments in unconsolidated affiliates	22,472	24,467
Property and equipment, net	55,084	53,742
Operating lease assets	216,886	239,665
Other assets, net	45,147	52,644
Other intangibles, net	31,676	34,842
Deferred income tax assets, net	19,248	26,389
Trademarks	630,333	628,156
Total assets	2,681,164	2,712,405
Current liabilities
Current portion of notes payable	15,026	135,518
Accounts payable	182,531	169,508
Accrued expenses	140,535	115,586
Customer refund liabilities	84,054	89,760
Current operating lease liabilities	56,587	52,917
Income tax payable	14,676	14,875
Other current liabilities	219	905
Total current liabilities	493,628	579,069
Notes payable, net of discount and unamortized issuance costs	402,807	483,840
Deferred income tax liabilities, net	42,736	44,783
Noncurrent operating lease liabilities	178,247	204,974
Other non-current liabilities	15,764	15,141
Total liabilities	1,133,182	1,327,807
Redeemable noncontrolling interests	(2,278)	(850)
Stockholders' Equity
Preferred stock; 1,000 shares authorized; no shares issued and outstanding
Common stock - $0.01 par value; 120,000 shares authorized; 49,396 and 49,396 shares issued, respectively	264	264
Additional paid-in capital	458,841	468,712
Accumulated other comprehensive loss	(3,207)	(11,653)
Retained earnings	1,160,112	983,944
Common stock held in treasury, at cost - 3,668 and 2,680 shares, respectively	(65,750)	(55,819)
Total stockholders' equity	1,550,260	1,385,448
Total liabilities, redeemable noncontrolling interests and stockholders' equity	$ 2,681,164	$ 2,712,405

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2022
Cash flows from operating activities
Net income (loss) attributable to G-III Apparel Group, Ltd.	$ 176,168	$ (133,061)	$ 200,593
Adjustments to reconcile net income (loss) to net cash provided by operating activities, net of assets and liabilities acquired:
Depreciation and amortization	27,523	27,762	27,626
Loss on disposal of fixed assets	102	210	136
Non-cash operating lease costs	58,804	54,492	43,351
Asset impairment	6,758	349,686	1,455
Dividend received from unconsolidated affiliate			(1,352)
Equity gain (loss) in unconsolidated affiliates	5,607	(674)	(8,118)
Change in fair value of equity investment	(1,009)	(1,258)	(1,636)
Share-based compensation	17,164	32,475	17,424
Deferred financing charges and debt discount amortization	7,090	10,239	9,677
Deferred income taxes	3,744	(55,147)	21,117
Non-cash gain on fair value of prior minority ownership of Karl Lagerfeld		(27,071)
Changes in operating assets and liabilities:
Accounts receivable, net	112,600	(40,990)	(112,814)
Inventories	188,919	(163,671)	(95,652)
Income taxes, net	4,331	12,588	9,742
Prepaid expenses and other current assets	3,588	(11,398)	8,373
Other assets, net	5,860	1,520	752
Customer refund liabilities	(5,706)	2,972	(12,567)
Operating lease liabilities	(58,928)	(56,092)	(46,922)
Accounts payable, accrued expenses and other liabilities	34,967	(107,181)	124,613
Net cash provided by (used in) operating activities	587,582	(104,599)	185,798
Cash flows from investing activities
Operating lease assets initial direct costs	(52)	(84)
Investment in e-commerce retailer	(3,600)	(25,000)	(25,000)
Investment in equity securities		(22,378)
Sale of equity securities		22,434
Sale of portion of investment in e-commerce retailer			5,000
Capital expenditures	(24,679)	(21,528)	(18,261)
Acquisition of KLH, net of cash acquired		(168,592)
Acquisition of other foreign business, net of cash acquired		(2,810)
Investment in brand acquisition			(13,244)
Net cash used in investing activities	(28,331)	(217,958)	(51,505)
Cash flows from financing activities
Repayment of borrowings - revolving credit facility	(112,826)	(507,166)
Proceeds from borrowings - revolving credit facility	32,738	587,254
Repayment of borrowings - foreign facilities	(139,429)	(75,496)	(1,483)
Proceeds from borrowings - foreign facilities	136,850	83,794
Repayment of borrowings - unsecured term loan			(549)
Proceeds from borrowings - unsecured term loan			230
Repayment of borrowings - LVMH Note	(125,000)
Purchase of treasury shares	(26,100)	(26,949)	(17,300)
Taxes paid for net share settlements	(10,866)	(9,805)	(4,340)
Net cash provided by (used in) financing activities	(244,633)	51,632	(23,442)
Foreign currency translation adjustments	1,559	(3,407)	3,199
Net increase (decrease) in cash and cash equivalents	316,177	(274,332)	114,050
Cash and cash equivalents at beginning of year	191,652	465,984	351,934
Cash and cash equivalents at end of year	507,829	191,652	465,984
Cash payments:
Interest, net	30,237	44,108	54,393
Income tax payments, net	$ 57,856	$ 38,071	39,821
Stock received from licensing agreement			$ 4,831

LEASES - Lease assets and liabilities (Details) - USD ($) $ in Thousands	Jan. 31, 2024	Jan. 31, 2023
Assets and Liabilities, Lessee [Abstract]
Operating lease assets	$ 216,886	$ 239,665
Classification of operating lease assets	Operating lease assets	Operating lease assets
Total lease assets	$ 216,886	$ 239,665
Current operating lease liabilities	$ 56,587	$ 52,917
Classification current operating lease liabilities	Current operating lease liabilities	Current operating lease liabilities
Noncurrent operating lease liabilities	$ 178,247	$ 204,974
Classification of noncurrent operating liabilities	Noncurrent operating lease liabilities	Noncurrent operating lease liabilities
Total lease liabilities	$ 234,834	$ 257,891

EMPLOYEE BENEFIT PLANS

12 Months Ended

Jan. 31, 2024

EMPLOYEE BENEFIT PLANS [Abstract]

EMPLOYEE BENEFIT PLANS

NOTE 13 — EMPLOYEE BENEFIT PLANS

The Company maintains a 401(k) plan (the “GIII Plan”) and trust for non-union employees. The Plan provides for a Safe Harbor (non-discretionary) matching contribution of 100% of the first 3% of the participant’s contributed pay plus 50% of the next 2% of the participant’s contributed pay. The Company made matching contributions of $4.3 million, $4.0 million and $0.3 million for the years ended January 31, 2024, 2023 and 2022, respectively. Effective May 2020, the Company temporarily suspended 401(k) matching contributions due to COVID-19. The Company reinstated 401(k) matching contributions effective January 1, 2022.

- Definition

The entire disclosure for retirement benefits.

+ References

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+ Details

RELATED PARTY TRANSACTIONS - Textuals (Details) - USD ($) $ in Thousands	1 Months Ended	4 Months Ended	12 Months Ended
	Jun. 30, 2023	May 30, 2022	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2022	May 31, 2022	May 29, 2022
Related Party Transaction [Line Items]
Repurchases of common stock			$ 26,100	$ 26,949	$ 17,300
KLNA
Related Party Transaction [Line Items]
Percent of interest acquired in joint venture						49.00%
Related Party \| KLNA
Related Party Transaction [Line Items]
Percent of interest acquired in joint venture							49.00%
Related Party \| E Commerce Retailer \| E Commerce Retailer
Related Party Transaction [Line Items]
Investment				$ 25,000
Related Party \| KLNA
Related Party Transaction [Line Items]
Royalty and advertising expense		$ 3,600			$ 8,100
Related Party \| Chief Executive Officer \| E Commerce Retailer \| E Commerce Retailer
Related Party Transaction [Line Items]
Percentage of ownership interest				1.40%
Related Party \| President
Related Party Transaction [Line Items]
Shares repurchased	208,943
Repurchases of common stock	$ 4,100

COMMITMENTS AND CONTINGENCIES - Textuals (Details) $ in Millions, $ in Millions	12 Months Ended				24 Months Ended
	Jan. 31, 2024 USD ($)	Jan. 31, 2024 CAD ($)	Jan. 31, 2023 USD ($)	Jan. 31, 2022 USD ($)	Jan. 31, 2024 USD ($)	Jan. 31, 2024 CAD ($)
Commitment And Contingencies [Line Items]
Advertising expense	$ 121.7		$ 131.6	$ 93.1
Value of bond issued for prepayments of additional duties					$ 4.8	$ 6.5
Amendment in prepayments of additional duties	6.1	$ 8.2
License Agreements
Commitment And Contingencies [Line Items]
Royalty expense	154.2		162.9	145.1
Advertising expense	$ 36.7		$ 45.2	$ 41.2

INCOME TAXES - Reconciliation of the beginning and ending amounts of gross unrecognized tax benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2022
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at February 1,	$ 3,582	$ 2,442	$ 2,293
Additions based on tax positions related to the current year	57	245
Additions for tax positions of prior years	1,015	895	595
Reductions for tax positions of prior years	(413)
Lapses of statues of limitations	(2,100)		(446)
Balance at January 31,	$ 4,241	$ 3,582	$ 2,442

ALLOWANCE FOR DOUBTFUL ACCOUNTS

12 Months Ended

Jan. 31, 2024

ALLOWANCE FOR DOUBTFUL ACCOUNTS

ALLOWANCE FOR DOUBTFUL ACCOUNTS

NOTE 3 — ALLOWANCE FOR DOUBTFUL ACCOUNTS

The Company’s financial instruments consist of trade receivables arising from revenue transactions in the ordinary course of business. The Company considers its trade receivables to consist of two portfolio segments: wholesale and retail trade receivables. Wholesale trade receivables result from credit the Company has extended to its wholesale customers based on pre-defined criteria and are generally due within 30 to 60 days. Retail trade receivables primarily relate to amounts due from third-party credit card processors for the settlement of debit and credit card transactions and are typically collected within 3 to 5 days.

The Company’s accounts receivable and allowance for doubtful accounts as of January 31, 2024 and 2023 were:


	January 31, 2024
	Wholesale		Retail		Total

	(In thousands)
Accounts receivable, gross	$	563,130	$	704	$	563,834
Allowance for doubtful accounts		(1,408)		(63)		(1,471)
Accounts receivable, net	$	561,722	$	641	$	562,363


	January 31, 2023
	Wholesale		Retail		Total

	(In thousands)
Accounts receivable, gross	$	692,033	$	1,227	$	693,260
Allowance for doubtful accounts		(18,237)		(60)		(18,297)
Accounts receivable, net	$	673,796	$	1,167	$	674,963

The allowance for doubtful accounts for wholesale trade receivables is estimated based on several factors. In circumstances where the Company is aware of a specific customer’s inability to meet its financial obligations (such as in the case of bankruptcy filings (including potential bankruptcy filings), extensive delay in payment or substantial downgrading by credit rating agencies), a specific reserve for bad debts is recorded against amounts due from that customer to reduce the net recognized receivable to the amount reasonably expected to be collected. For all other wholesale customers, an allowance for doubtful accounts is determined through analysis of the aging of accounts receivable at the end of the reporting period for financial statements, assessments of collectability based on historical trends and an evaluation of the impact of economic conditions. The Company considers both current and forecasted future economic conditions in determining the adequacy of its allowance for doubtful accounts.

The allowance for doubtful accounts for retail trade receivables is estimated at the credit card chargeback rate applied to the previous 90 days of credit card sales. In addition, the Company considers both current and forecasted future economic conditions in determining the adequacy of its allowance for doubtful accounts.

During the year ended January 31, 2024, accounts receivable balances of $16.7 million were deemed uncollectable and written off against the allowance primarily due to the bankruptcy of certain department store customers. The Company had the following activity in its allowance for credit losses:


	January 31, 2024
	Wholesale		Retail		Total

	(In thousands)
Balance as of January 31, 2023	$	(18,237)	$	(60)	$	(18,297)
Provision for credit losses		166		(3)		163
Accounts written off as uncollectible		16,663		—		16,663
Balance as of January 31, 2024	$	(1,408)	$	(63)	$	(1,471)


	January 31, 2023
	Wholesale		Retail		Total

	(In thousands)
Balance as of January 31, 2022	$	(17,307)	$	(84)	$	(17,391)
Provision for credit losses		(1,002)		24		(978)
Accounts written off as uncollectible		72		—		72
Balance as of January 31, 2023	$	(18,237)	$	(60)	$	(18,297)

LEASES - Other information (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 31, 2024	Jan. 31, 2023
LEASES [Abstract]
Operating lease, lease not yet commenced, description	As of January 31, 2024, there are no material leases that are legally binding but have not yet commenced
Weighted average remaining lease term	5 years
Weighted average discount rate	6.80%
Cash paid for amounts included in the measurement of operating lease liabilities	$ 76.7	$ 69.8
Right-of-use assets obtained in exchange for lease obligations	$ 35.0	$ 126.8

INTANGIBLE ASSETS - Textuals (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2022
Business Acquisition [Line Items]
Intangible assets amortization expense			$ 5,400	$ 3,900	$ 3,700
Impairment of intangible assets	$ 5,900			0	0
Impairment, Intangible Asset, Indefinite-Lived (Excluding Goodwill), Statement of Income or Comprehensive Income [Extensible Enumeration]			Asset Impairments, Net Of Loss (Gain) On Lease Terminations
Goodwill impairment		$ 347,200	$ 5,900	347,172
Goodwill	$ 0	$ 0	$ 0	$ 0	262,527
Wholesale Reporting Unit
Business Acquisition [Line Items]
Goodwill impairment					$ 0
Premium risk percentage			7.50%
Future operating cash flows discount rate			17.50%

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

KARL LAGERFELD ACQUISITION (Tables)

12 Months Ended

Jan. 31, 2024

KARL LAGERFELD ACQUISITION [Abstract]

Schedule of total consideration paid for acquisition

The initial purchase price and the valuation of the prior minority ownership for the acquisition of KLH is as follows (in thousands):


Cash disbursed for the acquisition of KLH	$	168,592
Plus: cash acquired		38,499
Plus: aggregate adjustments to purchase price		516
Initial purchase price		207,607
Plus: fair value of prior minority ownership		102,858
Total consideration	$	310,465

Schedule of fair values of assets acquired and liabilities

The following table summarizes the fair values of the assets acquired and liabilities assumed at the date of acquisition:


(In thousands)
Cash and cash equivalents	$	38,499
Accounts receivable, net		28,449
Inventories		33,489
Prepaid income taxes		1,100
Prepaid expenses and other current assets		3,347
Property, plant and equipment, net		11,545
Operating lease assets		55,753
Goodwill		84,336
Trademarks		178,823
Customer relationships		4,294
Deferred income taxes		5,131
Other long-term assets		2,237
Total assets acquired	$	447,003
Notes payable		3,606
Accounts payable		9,175
Accrued expenses		15,261
Operating lease liabilities		58,942
Income taxes payable		2,099
Deferred income taxes		42,222
Other long-term liabilities		5,233
Total liabilities assumed	$	136,538
Total fair value of acquisition consideration	$	310,465

Schedule of identifiable intangible assets

ALLOWANCE FOR DOUBTFUL ACCOUNTS (Tables)

12 Months Ended

Jan. 31, 2024

ALLOWANCE FOR DOUBTFUL ACCOUNTS

Accounts Receivable and Allowance for Doubtful Accounts

The Company’s accounts receivable and allowance for doubtful accounts as of January 31, 2024 and 2023 were:


	January 31, 2024
	Wholesale		Retail		Total

	(In thousands)
Accounts receivable, gross	$	563,130	$	704	$	563,834
Allowance for doubtful accounts		(1,408)		(63)		(1,471)
Accounts receivable, net	$	561,722	$	641	$	562,363


	January 31, 2023
	Wholesale		Retail		Total

	(In thousands)
Accounts receivable, gross	$	692,033	$	1,227	$	693,260
Allowance for doubtful accounts		(18,237)		(60)		(18,297)
Accounts receivable, net	$	673,796	$	1,167	$	674,963

Activity in Allowance for Credit Losses


	January 31, 2024
	Wholesale		Retail		Total

	(In thousands)
Balance as of January 31, 2023	$	(18,237)	$	(60)	$	(18,297)
Provision for credit losses		166		(3)		163
Accounts written off as uncollectible		16,663		—		16,663
Balance as of January 31, 2024	$	(1,408)	$	(63)	$	(1,471)


	January 31, 2023
	Wholesale		Retail		Total

	(In thousands)
Balance as of January 31, 2022	$	(17,307)	$	(84)	$	(17,391)
Provision for credit losses		(1,002)		24		(978)
Accounts written off as uncollectible		72		—		72
Balance as of January 31, 2023	$	(18,237)	$	(60)	$	(18,297)

ALLOWANCE FOR DOUBTFUL ACCOUNTS (Activity in Allowance for Credit Losses) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2024	Jan. 31, 2023
Segment Reporting Information [Line Items]
Beginning balance	$ (18,297)	$ (17,391)
Provision for credit losses	163	(978)
Accounts written off as uncollectible	16,663	72
Ending balance	(1,471)	(18,297)
Wholesale
Segment Reporting Information [Line Items]
Beginning balance	(18,237)	(17,307)
Provision for credit losses	166	(1,002)
Accounts written off as uncollectible	16,663	72
Ending balance	(1,408)	(18,237)
Retail
Segment Reporting Information [Line Items]
Beginning balance	(60)	(84)
Provision for credit losses	(3)	24
Ending balance	$ (63)	$ (60)

SEGMENTS - Schedule of Total Net Sales by Licensed and Proprietary Product Sales (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2022
Segment Reporting Information [Line Items]
Net sales	$ 3,098,242	$ 3,226,728	$ 2,766,538
Elimination
Segment Reporting Information [Line Items]
Net sales	(59,800)	(70,528)	(61,905)
Wholesale operations \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	3,009,614	3,160,025	2,710,787
Wholesale operations \| Operating Segments \| Licensed Brands [Member]
Segment Reporting Information [Line Items]
Net sales	1,653,259	1,891,522	1,820,491
Wholesale operations \| Operating Segments \| Proprietary Brands [Member]
Segment Reporting Information [Line Items]
Net sales	1,356,355	1,268,503	890,296
Retail \| Operating Segments
Segment Reporting Information [Line Items]
Net sales	148,428	137,231	117,656
Retail \| Operating Segments \| Licensed Brands [Member]
Segment Reporting Information [Line Items]
Net sales			39,604
Retail \| Operating Segments \| Proprietary Brands [Member]
Segment Reporting Information [Line Items]
Net sales	$ 148,428	$ 137,231	$ 78,052

- Definition

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS

12 Months Ended

Jan. 31, 2024

Valuation And Qualifying Accounts [Abstract]

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNT

SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS

Years ended January 31, 2024, 2023 and 2022


	Balance at		Charges to				Balance at
	Beginning		Cost and				End of
Description	of Period		Expenses		Deductions ⁽¹⁾		Period

	(In thousands)
Year ended January 31, 2024
Deducted from asset accounts
Allowance for doubtful accounts	$	18,297	$	(163)	$	16,663	$	1,471
Reserve for returns		30,610		32,022		33,322		29,310
Reserve for sales allowances ⁽²⁾		59,150		173,120		177,526		54,744
	$	108,057	$	204,979	$	227,511	$	85,525
Year ended January 31, 2023
Deducted from asset accounts
Allowance for doubtful accounts	$	17,391	$	978	$	72	$	18,297
Reserve for returns		30,821		31,944		32,155		30,610
Reserve for sales allowances ⁽²⁾		55,967		155,388		152,205		59,150
	$	104,179	$	188,310	$	184,432	$	108,057
Year ended January 31, 2022
Allowance for doubtful accounts	$	17,459	$	157	$	225	$	17,391
Reserve for returns		40,704		19,475		29,358		30,821
Reserve for sales allowances ⁽²⁾		58,651		117,605		120,289		55,967
	$	116,814	$	137,237	$	149,872	$	104,179

⁽¹⁾

Accounts written off as uncollectible, net of recoveries.

⁽²⁾

See Note 1 in the accompanying notes to consolidated financial statements for a description of sales allowances.

SEGMENTS - Method of Overhead Allocation (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 3,098,242	$ 3,226,728	$ 2,766,538
Long-Lived Assets	1,020,846	1,059,905	1,089,671
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	2,400,191	2,609,710	2,365,919
Long-Lived Assets	605,548	633,799	938,947
Non-United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	698,051	617,018	400,619
Long-Lived Assets	$ 415,298	$ 426,106	$ 150,724

- Definition

+ References

+ Details

INVENTORIES

12 Months Ended

Jan. 31, 2024

INVENTORIES [Abstract]

INVENTORIES

NOTE 4 — INVENTORIES

Wholesale inventories, which comprise a significant portion of the Company’s inventory, and KLH inventories are stated at the lower of cost (determined by the first-in, first-out method) or net realizable value. Retail and Vilebrequin inventories are stated at the lower of cost (determined by the weighted average method) or net realizable value. Substantially all of the Company’s inventories consist of finished goods.

The inventory return asset, which consists of the amount of goods that are anticipated to be returned by customers, was $16.5 million and $19.2 million at January 31, 2024 and 2023, respectively. The inventory return asset is recorded within prepaid expenses and other current assets on the consolidated balance sheets as of January 31, 2024 and 2023.

Inventory held on consignment by the Company’s customers totaled $6.6 million at both January 31, 2024 and 2023. Consignment inventory is stored at the facilities of the Company’s customers. The Company reflects this inventory on its consolidated balance sheets.

SEGMENTS - Information of Total Assets for Company's Reportable Segments (Details) - USD ($) $ in Thousands	Jan. 31, 2024	Jan. 31, 2023
Segment Reporting Information [Line Items]
Total assets	$ 2,681,164	$ 2,712,405
Corporate Segment
Segment Reporting Information [Line Items]
Total assets	1,014,689	839,044
Operating Segments \| Wholesale operations
Segment Reporting Information [Line Items]
Total assets	1,562,203	1,746,314
Operating Segments \| Retail
Segment Reporting Information [Line Items]
Total assets	$ 104,272	$ 127,047

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

REVENUE RECOGNITION - Textuals (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2024	Jan. 31, 2023
REVENUE RECOGNITION [Abstract]
Customer refund liabilities	$ 84,054	$ 89,760
Contract liabilities	5,200	5,100
Revenue recognized related to contract liabilities	4,700
Contract assets	$ 0	$ 0

INTANGIBLE ASSETS - Change in Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Jan. 31, 2023	Jan. 31, 2024	Jan. 31, 2023	May 31, 2022
Goodwill [Roll Forward]
Goodwill, Beginning Balance		$ 0	$ 262,527
Acquisition			84,336
Impairment	$ (347,200)	(5,900)	(347,172)
Currency translation			(3,214)
Goodwill, Ending Balance	0	0	0
Indefinite-lived intangible assets
Goodwill	0	0	0
Karl Lagerfeld Holding B.V.
Goodwill [Roll Forward]
Goodwill, Beginning Balance		84,300
Goodwill, Ending Balance	84,300		84,300
Indefinite-lived intangible assets
Goodwill	84,300		84,300	$ 84,336
Foreign Hospitality Business [Member]
Goodwill [Roll Forward]
Acquisition			3,523
Wholesale operations
Goodwill [Roll Forward]
Goodwill, Beginning Balance		0	262,527
Acquisition			84,336
Impairment			(347,172)
Currency translation			(3,214)
Goodwill, Ending Balance	0		0
Indefinite-lived intangible assets
Goodwill	0		0
Wholesale operations \| Foreign Hospitality Business [Member]
Goodwill [Roll Forward]
Acquisition			3,523
Retail
Goodwill [Roll Forward]
Goodwill, Beginning Balance		$ 0
Acquisition
Impairment
Currency translation
Goodwill, Ending Balance	0		0
Indefinite-lived intangible assets
Goodwill	$ 0		0
Retail \| Foreign Hospitality Business [Member]
Goodwill [Roll Forward]
Acquisition

PROPERTY AND EQUIPMENT - Textuals (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2022
Property Plant And Equipment [Line Items]
Depreciation expense	$ 22,000	$ 23,500	$ 23,600
Leasehold improvements and furniture and fixtures \| Vilebrequin and Karl Lagerfeld stores
Property Plant And Equipment [Line Items]
Impairment charge on leasehold improvements	$ 800
Leasehold improvements and furniture and fixtures \| DKNY and Karl Lagerfeld Paris stores
Property Plant And Equipment [Line Items]
Impairment charge on leasehold improvements		$ 1,800	$ 1,300

INTANGIBLE ASSETS - Estimated amortization expense (Details) $ in Thousands	Jan. 31, 2024 USD ($)
INTANGIBLE ASSETS [Abstract]
2025	$ 5,106
2026	3,984
2027	3,578
2028	3,264
2029	$ 3,274

RELATED PARTY TRANSACTIONS

12 Months Ended

Jan. 31, 2024

RELATED PARTY TRANSACTIONS

NOTE 17 — RELATED PARTY TRANSACTIONS

Transactions with Employees

In June 2023, the Company entered into a stock sale and purchase agreement (the “Agreement”) with Sammy Aaron, the Company’s Vice Chairman and President and a Director of the Company. Pursuant to the Agreement, the Company purchased from Mr. Aaron 208,943 shares of its common stock for $4.1 million at a price equal to the closing price of the Company’s shares on the date of the Agreement.

Transactions with E-Commerce Retailer

In fiscal 2023, the Company made a $25.0 million investment in an e-commerce retailer. The Company’s Chief Executive Officer and Executive Vice President indirectly own 1.4% of the e-commerce retailer through their ownership in a private investment partnership. The Company had no material transactions with the e-commerce retailer during the years ended January 31, 2024 and 2023.

Transactions with KL North America

Prior to May 30, 2022, G-III owned a 49% ownership interest in KLNA and was considered a related party of KLNA (see Note 16). The Company entered into a licensing agreement to use the brand rights to certain Karl Lagerfeld trademarks held by KLNA. The Company incurred royalty and advertising expense of $3.6 million during the period of February 1, 2022 through May 30, 2022 prior to KLNA becoming a consolidated indirect wholly-owned subsidiary of the Company. The Company incurred royalty and advertising expense of $8.1 million for the year ended January 31, 2022.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

EQUITY INVESTMENT - Textuals (Details) € in Millions, $ in Millions	1 Months Ended
	Feb. 29, 2016 USD ($)	Feb. 29, 2016 EUR (€)	Jun. 30, 2015 USD ($)	May 31, 2022	May 30, 2022
Karl Lagerfeld Holding B.V.
Schedule of Equity Method Investments [Line Items]
Amount paid to acquired interest in joint venture	$ 35.4	€ 32.5
KL North America
Schedule of Equity Method Investments [Line Items]
Amount paid to acquired interest in joint venture			$ 25.0
Karl Lagerfeld Holding B.V. ("KLH")
Schedule of Equity Method Investments [Line Items]
Ownership percent	19.00%	19.00%			19.00%
KL North America B.V.
Schedule of Equity Method Investments [Line Items]
Ownership percent			49.00%		49.00%
Kingdom Holding 1 BV ("KH1") \| Karl Lagerfeld Holding B.V. ("KLH")
Schedule of Equity Method Investments [Line Items]
Ownership percent				81.00%

INCOME TAXES - Reconciliation of Statutory Federal Income Tax Rate to Effective Rate Reported in Financial Statements (Details)	12 Months Ended
	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2022
INCOME TAXES [Abstract]
Provision for Federal income taxes at the statutory rate	21.00%	21.00%	21.00%
State and local income taxes, net of Federal tax benefit	3.70%	(2.10%)	2.00%
Permanent differences	2.80%	(2.10%)	2.80%
U.S. tax on foreign earnings	1.80%	(6.00%)	1.50%
Foreign tax rate differential	1.00%	1.20%
Foreign tax credit	(2.90%)	7.90%	(3.40%)
Valuation allowance	0.40%	(3.10%)	0.80%
Goodwill Impairment		(17.30%)
Non-taxable capital gain		5.10%
Other, net	(0.40%)	(1.90%)	1.50%
Actual provision for income taxes	27.40%	2.70%	26.20%

SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Jan. 31, 2024

SIGNIFICANT ACCOUNTING POLICIES [Abstract]

SIGNIFICANT ACCOUNTING POLICIES

NOTE 1 — SIGNIFICANT ACCOUNTING POLICIES

A summary of the significant accounting policies consistently applied in the preparation of the accompanying consolidated financial statements follows:

1. Business Activity and Principles of Consolidation

As used in these financial statements, the term “Company” or “G-III” refers to G-III Apparel Group, Ltd. and its subsidiaries. The Company designs, sources and markets an extensive range of apparel, including outerwear, dresses, sportswear, swimwear, women’s suits and women’s performance wear, as well as women’s handbags, footwear, small leather goods, cold weather accessories and luggage. The Company also operates retail stores and licenses its proprietary brands under several product categories.

The Company consolidates the accounts of its wholly-owned and majority-owned subsidiaries. Fabco Holding B.V. (“Fabco”) is a Dutch joint venture limited liability company that is 75% owned by the Company and is treated as a consolidated majority-owned subsidiary. In October 2021, the Company purchased Sonia Rykiel, a wholly-owned operating subsidiary. The results of Sonia Rykiel are included in our consolidated financial statements beginning in the fourth quarter of fiscal 2022. Karl Lagerfeld Holding B.V. (“KLH”) is a Dutch limited liability company that was 19% owned by the Company through May 30, 2022 and was accounted for during that time using the equity method of accounting. Effective May 31, 2022, the Company acquired the remaining 81% interest in KLH that it did not previously own and, as a result, KLH began being treated as a consolidated wholly-owned subsidiary. KL North America B.V. (“KLNA”) is a Dutch joint venture limited liability company that was 49% owned by the Company and 51% indirectly owned by KLH through May 30, 2022 and was accounted for during that time using the equity method of accounting. Effective May 31, 2022, KLNA became an indirect wholly-owned subsidiary of the Company as a result of the Company’s acquisition of the remaining 81% interest in KLH it did not previously own. All material intercompany balances and transactions have been eliminated. The results of KLH are included in the Company’s consolidated financial statements beginning May 31, 2022.

KLH, Vilebrequin International SA (“Vilebrequin”), a Swiss corporation that is wholly-owned by the Company, Fabco and Sonia Rykiel report results on a calendar year basis rather than on the January 31 fiscal year basis used by the Company. Accordingly, the results of KLH, Vilebrequin, Fabco and Sonia Rykiel are included in the financial statements for the year ended or ending closest to the Company’s fiscal year end. For example, with respect to the Company’s results for the year ended January 31, 2024, the results of Vilebrequin, Fabco and Sonia Rykiel are included for the year ended December 31, 2023. For the year ended January 31, 2023, the results of KLH, which includes KLNA, are included for the period from May 31, 2022 through December 31, 2022. The results of the Company’s previous 49% ownership interest in KLNA and 19% ownership interest in KLH are included for the period from January 1, 2022 through May 30, 2022. The Company’s retail operations segment reports on a 52/53-week fiscal year. The Company’s year ended January 31, 2024 was a 53-week fiscal year for the retail operations segment. The Company’s year ended January 31, 2023 was a 52-week fiscal year for the retail operations segment.

2. Cash Equivalents

The Company considers all highly liquid investments purchased with a maturity of three months or less to be cash equivalents.

3. Revenue Recognition

Wholesale revenue is recognized when control transfers to the customer. The Company considers control to have been transferred when the Company has transferred physical possession of the product, the Company has a right to payment for

the product, the customer has legal title to the product and the customer has the significant risks and rewards of the product. Wholesale revenues are adjusted by variable considerations arising from implicit or explicit obligations. Variable consideration includes trade discounts, end of season markdowns, sales allowances, cooperative advertising, return liabilities and other customer allowances. The Company estimates the anticipated variable consideration and records this estimate as a reduction of revenue in the period the related product revenue is recognized.

Variable consideration is estimated based on historical experience, current contractual requirements, specific known events and industry trends. The reserves for variable consideration are recorded as customer refund liabilities. Historical return rates are calculated on a product line basis. The remainder of the historical rates for variable consideration are calculated by customer by product lines.

The Company recognizes retail sales when the customer takes possession of the goods and tenders payment, generally at the point of sale. Digital revenues from customers through the Company’s digital platforms are recognized when the customer takes possession of the goods. The Company’s sales are recorded net of applicable sales taxes.

Both wholesale revenues and retail store revenues are shown net of returns, discounts and other allowances.

Licensing revenue is recognized at the higher of royalty earned or guaranteed minimum royalty.

4. Accounts Receivable

In the normal course of business, the Company extends credit to its wholesale customers based on pre-defined credit criteria. Accounts receivable are net of an allowance for doubtful accounts. In circumstances where the Company is aware of a specific customer’s inability to meet its financial obligation (such as in the case of bankruptcy filings, extensive delay in payment or substantial downgrading by credit sources), a specific reserve for bad debts is recorded against amounts due to reduce the net recognized receivable to the amount reasonably expected to be collected. For all other wholesale customers, an allowance for doubtful accounts is determined through analysis of the aging of accounts receivable at the date of the financial statements, assessments of collectability based on historical trends and an evaluation of the impact of economic conditions.

5. Inventories

Wholesale inventories, which comprises a significant portion of the Company’s inventory, and KLH’s inventories are stated at the lower of cost (determined by the first-in, first-out method) or net realizable value. Substantially all of the Company’s inventories consist of finished goods.

Effective February 1, 2021, the Company elected to change its method of accounting for retail inventories from the lower of cost or market as determined by the retail inventory method to the lower of cost or net realizable value using the weighted average cost method. The Company believes the new method is preferable as it provides better matching of cost of goods sold with revenue, improves the precision of inventory valuation at the balance sheet dates, and more closely aligns with the valuation methods used throughout the rest of the Company. In addition, the change in inventory valuation better aligns with the way the Company manages its business with a focus on the actual margin realized.

The Company applied the change prospectively as of February 1, 2021. The cumulative adjustment as of February 1, 2021 was a decrease of $0.3 million in both inventories and retained earnings. The change in accounting principle did not have a material effect on the Company’s consolidated financial statements as of and for the year ended January 31, 2024.

Vilebrequin inventories are stated at the lower of cost (determined by the weighted average method) or net realizable value.

6. Goodwill and Other Intangibles

Goodwill represents the excess of purchase price over the fair value of net assets acquired in business combinations accounted for under the purchase method of accounting. Goodwill is subject to annual impairment tests using a qualitative evaluation or a quantitative test using an income approach through a discounted cash flow analysis methodology. The discounted cash flow approach requires that certain assumptions and estimates be made regarding industry economic factors and future profitability. Intangible assets deemed to have indefinite lives are not amortized, but are subject to annual impairment tests using a qualitative evaluation or a quantitative test using a relief from royalty method, another form of the income approach. The relief from royalty method requires assumptions regarding industry economic factors and future profitability. Other intangibles with finite lives, including license agreements, trademarks and customer lists are amortized on a straight-line basis over the estimated useful lives of the assets (currently ranging from 5 to 17 years). Impairment charges, if any, on intangible assets with finite lives are recorded when indicators of impairment are present and the discounted cash flows estimated to be derived from those assets are less than the carrying amounts of the assets. During fiscal 2024, the Company recorded a $5.9 million non-cash impairment charge to partially impair the carrying value of our Sonia Rykiel trademark. During fiscal 2023, the Company recorded a $347.2 million non-cash impairment charge to fully impair the carrying value of its goodwill. See Note 7 – Intangible Assets.

7. Leases

The Company accounts for its leases in accordance with ASC Topic 842 – Leases (“ASC 842”). The Company determines if an arrangement is, or contains, a lease at contract inception. Leases with an initial term of 12 months or less are not recorded on the balance sheet. For leases with an initial term greater than 12 months, a lease liability is recorded on the balance sheet at the present value of future payments discounted at the incremental borrowing rate (discount rate) corresponding with the lease term. An operating lease asset is recorded based on the initial amount of the lease liability, plus any lease payments made to the lessor before or at the lease commencement date and any initial direct costs incurred, less any tenant improvement allowance incentives received. The difference between the minimum rents paid and the straight-line rent (deferred rent) is reflected within the associated operating lease asset. The Company has elected to account for lease and non-lease components as a single component.

The lease classification evaluation begins at the commencement date. The lease term used in the evaluation includes the non-cancellable period for which the Company has the right to use the underlying asset, together with renewal option periods when the exercise of the renewal option is reasonably certain or the failure to exercise such option would result in an economic penalty. All of the Company’s leases are classified as operating leases.

8. Depreciation and Amortization

Property and equipment are recorded at cost. Depreciation and amortization are computed by the straight-line method over the estimated useful lives of the assets. Leasehold improvements are amortized using the straight-line method over the life of the lease or the useful life of the improvement, whichever is shorter.

9. Impairment of Long-Lived Assets

All property and equipment and other long-lived assets are reviewed for potential impairment when events or changes in circumstances indicate that the asset’s carrying value may not be recoverable. If such indicators are present, it is determined whether the sum of the estimated undiscounted future cash flows attributable to such assets is less than the carrying value of the assets. A potential impairment has occurred if projected future undiscounted cash flows are less than the carrying value of the assets.

In fiscal 2024, the Company recorded a $1.3 million impairment charge related to leasehold improvements, furniture and fixtures, computer hardware and operating lease assets at certain DKNY, Karl Lagerfeld and Vilebrequin stores as a result of the performance at these stores.

In fiscal 2023, the Company recorded a $2.7 million impairment charge related to leasehold improvements, furniture and fixtures and operating lease assets at certain DKNY, Karl Lagerfeld Paris and Vilebrequin stores as a result of the performance at these stores.

In fiscal 2022, the Company recorded a $1.5 million impairment charge related to the leasehold improvements, furniture and fixtures and operating lease assets at certain DKNY, Karl Lagerfeld Paris and Vilebrequin stores as a result of the performance at these stores.

10. Income Taxes

The Company accounts for income taxes and uncertain tax positions in accordance with ASC Topic 740 — Income Taxes (“ASC 740”). Income taxes are accounted for under the liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of differences between the tax bases of assets and liabilities and their financial reporting amounts using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date.

ASC 740 prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a return, as well as guidance on de-recognition, classification, interest and penalties and financial statement reporting disclosures. It is also the Company's policy to provide for uncertain tax positions and the related interest and penalties based upon management's assessment of whether a tax benefit is more likely than not to be sustained upon examination by tax authorities. To the extent the Company prevails in matters for which a liability for an unrecognized tax benefit is established, or is required to pay amounts in excess of the liability, or when other facts and circumstances change, the Company's effective tax rate in a given financial statement period may be materially affected.

11. Net Income (Loss) Per Common Share

Basic net income (loss) per common share has been computed using the weighted average number of common shares outstanding during each period. Diluted net income per share, when applicable, is computed using the weighted average number of common shares and potential dilutive common shares, consisting of unvested restricted stock unit awards and stock options outstanding during the period. Approximately 102,000 and 11,000 shares of common stock have been excluded from the diluted net income per share calculation for the years ended January 31, 2024 and 2022, respectively. All share-based payments outstanding that vest based on the achievement of performance conditions, and for which the respective performance conditions have not been achieved, have been excluded from the diluted per share calculation. The Company issued no shares of common stock in connection with the exercise or vesting of equity awards during the years

ended January 31, 2024, 2023 and 2022, respectively. Instead, the Company re-issued 610,631, 387,792 and 194,965 treasury shares in connection with the vesting of equity awards in fiscal 2024, 2023 and 2022, respectively.

The following table reconciles the numerators and denominators used in the calculation of basic and diluted net income (loss) per share:


	Year Ended January 31,
	2024		2023		2022

	(In thousands, except share and per share amounts)
Net income (loss) attributable to G-III Apparel Group, Ltd.	$	176,168	$	(133,061)	$	200,593
Basic net income (loss) per share:
Basic common shares		45,859		47,653		48,426
Basic net income (loss) per share	$	3.84	$	(2.79)	$	4.14

Diluted net income (loss) per share:
Basic common shares		45,859		47,653		48,426
Dilutive restricted stock unit awards and stock options		1,141		—		1,090
Diluted common shares		47,000		47,653		49,516
Diluted net income (loss) per share	$	3.75	$	(2.79)	$	4.05

12. Equity Award Compensation

ASC Topic 718, Compensation — Stock Compensation, requires all share-based payments to employees, including grants of restricted stock unit awards and employee stock options, to be recognized as compensation expense over the service period (generally the vesting period) based on their grant date fair values.

The Company accounts for forfeited awards as they occur as permitted by ASC 718. Ultimately, the actual expense recognized over the vesting period will be for those shares that vested. Restricted stock units (“RSU’s”) are time based awards that do not have market or performance conditions and generally (i) cliff vest after three years or (ii) vest over a three year period. Performance based restricted stock units (“PRSU’s”) granted to executives prior to fiscal 2020 include (i) market price performance conditions that provide for the award to vest only after the average closing price of the Company’s stock trades above a predetermined market level and (ii) another performance condition that requires the achievement of an operating performance target. PRSU’s generally vest over a two to five year period. Performance stock units (“PSU’s”) granted to executives beginning in fiscal 2020 vest after a three year performance period during which certain earnings before interest and taxes and return on invested capital performance conditions must be satisfied for vesting to occur. The PSU’s granted in fiscal 2020 are also subject to a lock up period that prevents the sale, contract to sell or transfer of shares for two years subsequent to the date of vesting. Special performance stock units (“SPSU’s”) were granted to Morris Goldfarb, the Company’s Chairman and Chief Executive Officer, in fiscal 2024 under the terms of his new employment agreement and may be earned if certain stock price, relative Total Shareholder Return target and service conditions are achieved. These awards may vest from time to time beginning on the third anniversary of the effective date of the award through the fifth anniversary of the effective date of the award. RSU’s and employee stock options are expensed on a straight-line basis. PRSU’s and SPSU’s are expensed under the accelerated attribution method. PSU’s are expensed under the accelerated attribution method and based on an estimated percentage of achievement of certain pre-established goals.

Excess tax benefits arising from the lapse or exercise of an equity award are recognized in income tax expense. The assumed proceeds from applying the treasury stock method when computing net income (loss) per share is amended to exclude the amount of excess tax benefits that would be recognized in additional paid-in capital.

13. Cost of Goods Sold

Cost of goods sold includes the expenses incurred to acquire, produce and prepare inventory for sale, including product costs, warehouse staff wages, freight in, import costs, packaging materials, the cost of operating the overseas offices and royalty expense. Gross margins may not be directly comparable to those of the Company’s competitors, as income statement classifications of certain expenses may vary by company. Additionally, costs expected to be incurred when products are returned should be accrued for upon the sale of the product as a component of cost of goods sold.

14. Shipping and Handling Costs

Shipping and handling costs consist of warehouse facility costs, third party warehousing, freight out costs, and warehouse supervisory wages and are included in selling, general and administrative expenses. Shipping and handling costs included in selling, general and administrative expenses were $175.6 million, $187.6 million and $130.2 million for the years ended January 31, 2024, 2023 and 2022, respectively.

15. Advertising Costs

The Company expenses advertising costs as incurred and includes these costs in selling, general and administrative expenses. Advertising paid as a percentage of sales under license agreements are expensed in the period in which the sales occur or are accrued to meet guaranteed minimum requirements under license agreements. Advertising expense was $121.7 million, $131.6 million and $93.1 million for the years ended January 31, 2024, 2023 and 2022, respectively. Prepaid advertising, which represents advance payments to licensors for minimum guaranteed payments for advertising under the Company’s licensing agreements, was $7.3 million and $8.3 million at January 31, 2024 and 2023, respectively.

16. Use of Estimates

In preparing financial statements in conformity with accounting principles generally accepted in the United States (“GAAP”), management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. In determining these estimates, management must use amounts that are based upon its informed judgments and best estimates. The Company continually evaluates its estimates, including those related to customer allowances and discounts, product returns, bad debts, inventories, equity awards, income taxes, carrying values of intangible assets and long-lived assets including right of use assets. Estimates are based on historical experience and on various other assumptions that the Company believes are reasonable under the circumstances. The results of these estimates form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions and conditions.

17. Fair Value of Financial Instruments

GAAP establishes a three-level valuation hierarchy for disclosure of fair value measurements. The determination of the applicable level within the hierarchy for a particular asset or liability depends on the inputs used in its valuation as of the measurement date, notably the extent to which the inputs are market-based (observable) or internally-derived (unobservable). A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels are defined as follows:

Level 1 — inputs to the valuation methodology based on quoted prices (unadjusted) for identical assets or liabilities in active markets.

Level 2 — inputs to the valuation methodology based on quoted prices for similar assets or liabilities in active markets for substantially the full term of the financial instrument; quoted prices for identical or similar instruments in markets that are not active for substantially the full term of the financial instrument; and model-derived valuations whose inputs or significant value drivers are observable.

Level 3 — inputs to the valuation methodology based on unobservable prices or valuation techniques that are significant to the fair value measurement.

The following table summarizes the carrying values and the estimated fair values of the Company’s debt instruments:



		Carrying Value				Fair Value
		January 31,		January 31,		January 31,		January 31,
Financial Instrument	Level	2024		2023		2024		2023

		(In thousands)
Secured Notes	1	$	400,000	$	400,000	$	401,080	$	380,000
Revolving credit facility	2		—		80,087		—		80,087
Note issued to LVMH	3		—		121,202		—		119,426
Unsecured loans	2		8,791		10,866		8,791		10,866
Overdraft facilities	2		2,651		3,657		2,651		3,657
Foreign credit facility	2		8,939		7,792		8,939		7,792

The Company’s debt instruments are recorded at their carrying values in its consolidated balance sheets, which may differ from their respective fair values. The fair value of the Company’s secured notes is based on their current market price as of January 31, 2024. The carrying amount of the Company’s variable rate debt approximates the fair value, as interest rates change with the market rates. Furthermore, the carrying value of all other financial instruments potentially subject to valuation risk (principally consisting of cash, accounts receivable and accounts payable) also approximates fair value due to the short-term nature of these accounts.

The 2% note in the original principal amount of $125 million (the “LVMH Note”) issued to LVMH Moet Hennessy Louis Vuitton Inc. (“LVMH”) in connection with the acquisition of DKNY and Donna Karan was recorded on the balance sheet at a discount of $40.0 million in accordance with ASC 820 — Fair Value Measurements. For purposes of this fair value disclosure, the Company previously based its fair value estimate for the LVMH Note on the initial fair value as determined at the date of the acquisition of DKNY and Donna Karan and recorded the amortization using the effective interest method over the term of the LVMH Note. The Company repaid $75.0 million of the principal amount of the LVMH Note on June 1, 2023 and the remaining $50.0 million of such principal amount on December 1, 2023.

The fair value of the LVMH Note was considered a Level 3 valuation in the fair value hierarchy.

Non-Financial Assets and Liabilities

The Company’s non-financial assets that are measured at fair value on a nonrecurring basis include long-lived assets, which consist primarily of property and equipment and operating lease assets. The Company reviews these assets for impairment whenever events or changes in circumstances indicate that their carrying value may not be fully recoverable. For assets that are not recoverable, an impairment loss is recognized equal to the difference between the carrying amount of the asset or asset group and its estimated fair value. For operating lease assets, the Company determines the fair value of the assets by discounting the estimated market rental rates over the remaining term of the lease. These fair value measurements are considered level 3 measurements in the fair value hierarchy. During fiscal 2024, the Company recorded a $1.3 million impairment charge primarily related to leasehold improvements, furniture and fixtures, computer hardware and operating lease assets at certain DKNY, Karl Lagerfeld and Vilebrequin stores as a result of the performance at these stores. During fiscal 2023, the Company recorded a $2.7 million impairment charge related to leasehold improvements,

furniture and fixtures and operating lease assets at certain DKNY, Karl Lagerfeld Paris and Vilebrequin stores as a result of the performance at these stores. During fiscal 2022, the Company recorded a $1.5 million impairment charge primarily related to leasehold improvements, furniture and fixtures and operating lease assets at certain DKNY, Karl Lagerfeld Paris and Vilebrequin stores as a result of the performance at these stores.

18. Foreign Currency Translation

Certain of the Company’s international subsidiaries use different functional currencies, which are, for the most part, the local currency. In accordance with the authoritative guidance, assets and liabilities of the Company’s foreign operations are translated from foreign currency into U.S. dollars at period-end rates, while income and expenses are translated at the weighted average exchange rates for the period. The related translation adjustments are reflected as a foreign currency translation adjustment in accumulated other comprehensive loss within stockholders’ equity.

19. Effects of Recently Adopted and Issued Accounting Pronouncements

Recently Adopted Accounting Guidance

There was no new accounting guidance adopted during the year ended January 31, 2024.

Accounting Guidance Issued Being Evaluated for Adoption

In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”. The ASU expands the scope and frequency of segment disclosures and introduces the concept of a “significant expense principle,” which requires entities to disclose significant expense categories and amounts that are regularly provided to the chief operating decision maker (“CODM”) and included within the reported measure of a segment’s profit or loss. The ASU also changes current disclosure requirements by allowing entities to report multiple measures of a segment’s profit or loss, provided the reported measures are used by the CODM to assess performance and allocate resources and that the measure closest to GAAP is also provided. Finally, the ASU requires all segment profit or loss and assets disclosures to be provided on both an annual and interim basis and requires entities to disclose the title and position of the individual identified as the CODM. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024 and shall be applied retrospectively to all periods presented in the financial statements. The Company is currently evaluating the standard and determining the extent of additional interim and annual segment disclosures that may be required.

In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”. This new guidance is designed to enhance the transparency and decision usefulness of income tax disclosures. The amendments of this update are related to the rate reconciliation and income taxes paid, requiring (i) consistent categories and greater disaggregation of information in the rate reconciliation and (ii) income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company is currently evaluating the standard and determining the extent of additional disclosures that may be required.

PROPERTY AND EQUIPMENT - Property and Equipment at Cost (Details) - USD ($) $ in Thousands	Jan. 31, 2024	Jan. 31, 2023
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 288,412	$ 268,838
Less: accumulated depreciation	(233,328)	(215,096)
Property and equipment, net	$ 55,084	$ 53,742
Machinery and equipment
Property, Plant and Equipment [Line Items]
Estimated useful lives of fixed assets	5 years	5 years
Property and equipment, gross	$ 2,586	$ 2,437
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 91,329	$ 83,768
Leasehold improvements \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives of fixed assets	3 years	3 years
Leasehold improvements \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives of fixed assets	13 years	13 years
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 134,540	$ 130,340
Furniture and fixtures \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives of fixed assets	3 years	3 years
Furniture and fixtures \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives of fixed assets	5 years	5 years
Computer equipment and software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 59,957	$ 52,293
Computer equipment and software \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives of fixed assets	2 years	2 years
Computer equipment and software \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives of fixed assets	5 years	5 years

KARL LAGERFELD ACQUISITION (Intangible Assets Acquired) (Details) - Karl Lagerfeld Holding B.V. - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2022
Business Acquisition [Line Items]
Fair value	$ 183,117
Weighted average amortization period	0 years
Transaction cost		$ 5,600	$ 5,600
Trade Names [Member]
Business Acquisition [Line Items]
Fair value	$ 178,823
Weighted average amortization period	0 years
Customer Relationships
Business Acquisition [Line Items]
Fair value	$ 4,294
Weighted average amortization period	8 years

NOTES PAYABLE AND OTHER LIABILITIES - Second Amended and Restated ABL Credit Agreement (Details) - USD ($) $ in Thousands			9 Months Ended	12 Months Ended
	Aug. 07, 2020	Aug. 06, 2020	Jan. 31, 2024	Jan. 31, 2024	Jan. 31, 2023
Debt Instrument [Line Items]
Outstanding amount			$ 402,807	$ 402,807	$ 483,840
Unamortized debt issuance costs		$ 3,300
Interest expense		400
Secured Overnight Financing Rate SOFR Overnight Index Swap Rate One-Month Interest Period [Member]
Debt Instrument [Line Items]
Spread interest rate			1.00%
Second amended and restated credit agreement
Debt Instrument [Line Items]
Weighted average interest rate			6.62%	6.62%
Second amended and restated credit agreement \| Maximum
Debt Instrument [Line Items]
Debt instrument commitment fee percentage				0.50%
Second amended and restated credit agreement \| Minimum
Debt Instrument [Line Items]
Debt instrument commitment fee percentage				0.35%
Second amended and restated credit agreement \| Prime rate
Debt Instrument [Line Items]
Spread interest rate			0.50%
Second amended and restated credit agreement \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Spread interest rate			0.10%
Senior secured credit facility
Debt Instrument [Line Items]
Debt issuance costs	$ 8,000
Senior secured credit facility \| LIBOR One-Month Interest Period [Member]
Debt Instrument [Line Items]
Spread interest rate	1.00%
Senior secured credit facility \| Federal funds rate
Debt Instrument [Line Items]
Spread interest rate	0.50%
Senior secured credit facility \| Second amended and restated credit agreement
Debt Instrument [Line Items]
Term of credit agreement	5 years
Fixed charge coverage ratio			1.00%	1.00%
Credit covenant compliance				As of January 31, 2024, the Company was in compliance with these covenants.
Debt issuance costs	$ 5,100
Senior secured credit facility \| Second amended and restated credit agreement \| LIBOR [Member] \| Maximum
Debt Instrument [Line Items]
Spread interest rate	2.25%
Senior secured credit facility \| Second amended and restated credit agreement \| LIBOR [Member] \| Minimum
Debt Instrument [Line Items]
Spread interest rate	1.75%
Senior secured credit facility \| Second amended and restated credit agreement \| Base rate \| Maximum
Debt Instrument [Line Items]
Spread interest rate	1.25%
Senior secured credit facility \| Second amended and restated credit agreement \| Base rate \| Minimum
Debt Instrument [Line Items]
Spread interest rate	0.75%
Term Loan \| Senior secured credit facility
Debt Instrument [Line Items]
Senior secured credit facility		$ 650,000
Term Loan \| Senior secured credit facility \| Second amended and restated credit agreement
Debt Instrument [Line Items]
Senior secured credit facility	$ 650,000

KARL LAGERFELD ACQUISITION (Detail) - Karl Lagerfeld Holding B.V. $ in Thousands	May 31, 2022 USD ($)
Business Acquisition [Line Items]
Purchase price	$ 168,592
Plus: cash acquired	38,499
Plus: aggregate adjustments to purchase price	516
Initial purchase price	207,607
Plus: fair value of prior minority ownership	102,858
Total consideration	$ 310,465

NOTES PAYABLE AND OTHER LIABILITIES - Long-term debt (Details) $ in Thousands, € in Millions	Jan. 31, 2024 USD ($)	Jan. 31, 2024 EUR (€)	Jan. 31, 2023 USD ($)
Debt Instrument [Line Items]
Total	$ 402,807		$ 483,840
Long-term Debt
Debt Instrument [Line Items]
Subtotal	420,381		627,402
Less: Net debt issuance costs	(2,548)		(4,246)
Debt discount			(3,798)
Current portion of long-term debt	(15,026)		(135,518)
Secured notes
Debt Instrument [Line Items]
Debt issuance costs	8,500
Secured notes \| Long-term Debt
Debt Instrument [Line Items]
Subtotal	400,000		400,000
Revolving credit facility
Debt Instrument [Line Items]
Debt issuance costs	2,400		4,000
Revolving credit facility \| Long-term Debt
Debt Instrument [Line Items]
Subtotal			80,087
LVMH Note
Debt Instrument [Line Items]
Debt discount	(40,000)
LVMH Note \| Long-term Debt
Debt Instrument [Line Items]
Subtotal			125,000
Unsecured Loan
Debt Instrument [Line Items]
Total	8,800	€ 8.0
Unsecured Loan \| Long-term Debt
Debt Instrument [Line Items]
Subtotal	8,791		10,866
Overdraft facilities \| Long-term Debt
Debt Instrument [Line Items]
Subtotal	2,651		3,657
Foreign credit facility \| Long-term Debt
Debt Instrument [Line Items]
Subtotal	$ 8,939		$ 7,792

PROPERTY AND EQUIPMENT

12 Months Ended

Jan. 31, 2024

PROPERTY AND EQUIPMENT [Abstract]

PROPERTY AND EQUIPMENT

NOTE 5 — PROPERTY AND EQUIPMENT

Property and equipment consist of:


		January 31,
	Estimated life	2024		2023

		(In thousands)
Machinery and equipment	5 years	$	2,586	$	2,437
Leasehold improvements	3-13 years		91,329		83,768
Furniture and fixtures	3-5 years		134,540		130,340
Computer equipment and software	2-5 years		59,957		52,293
			288,412		268,838
Less: accumulated depreciation			(233,328)		(215,096)
		$	55,084	$	53,742

Depreciation expense was $22.0 million, $23.5 million and $23.6 million for the years ended January 31, 2024, 2023 and 2022, respectively. For the year ended January 31, 2024, the Company recorded a $0.8 million impairment charge related to leasehold improvements, computer hardware and furniture and fixtures at certain Vilebrequin and Karl Lagerfeld stores as a result of the performance at these stores. For the year ended January 31, 2023, the Company recorded a $1.8 million impairment charge related to leasehold improvements and furniture and fixtures at certain DKNY and Karl Lagerfeld Paris stores as a result of the performance of these stores. For the year ended January 31, 2022, the Company recorded a $1.3 million impairment charge related to leasehold improvements and furniture and fixtures of certain DKNY and Karl Lagerfeld Paris stores as a result of the performance of these stores.

The Company evaluates long-lived assets, which consist primarily of property and equipment and operating lease assets, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. In the evaluation process, the Company first compares the carrying value of the asset to the estimated future cash flows (undiscounted and without interest charges plus proceeds expected from disposition, if any). If the estimated undiscounted cash flows are less than the carrying value of the asset, the Company needs to determine the fair value of the assets. The Company compares the carrying value of the asset or asset group to its estimated fair value. If the fair value is less than the carrying value, the Company recognizes an impairment charge. The carrying amount of the asset or asset group is reduced to the estimated fair value based on a discounted cash flow valuation. Assets to be disposed of are reported at the lower of the carrying amount of the asset or fair value less costs to sell. The Company reviews retail store assets for potential impairment based on historical cash flows, lease termination provisions and forecasted future retail store operating results. If the Company recognizes an impairment charge for a depreciable long-lived asset, the adjusted carrying amount of the asset becomes its new cost basis and will be depreciated (amortized) over the remaining useful life of that asset.

STOCKHOLDERS' EQUITY (Tables)

12 Months Ended

Jan. 31, 2024

STOCKHOLDERS' EQUITY, [Abstract]

Schedule of restricted stock

Restricted Stock Units and Performance Based Restricted Stock Units



	Restricted Stock Units			Performance Based Restricted Stock Units
		Weighted Average			Weighted Average
	Awards	Grant Date		Awards	Grant Date
	Outstanding	Fair Value		Outstanding	Fair Value
Unvested as of January 31, 2021	1,393,268	$	12.47	466,830	$	34.17
Granted	326,791	$	31.52	176,212	$	31.43
Vested	(201,260)	$	20.43	(125,934)	$	30.23
Cancelled	(2,650)	$	33.46	—	$	—
Unvested as of January 31, 2022	1,516,149	$	15.48	517,108	$	34.20
Granted	1,076,509	$	26.88	308,317	$	31.42
Vested	(656,814)	$	29.11	(78,998)	$	35.77
Cancelled	(17,599)	$	31.21	(261,898)	$	35.60
Unvested as of January 31, 2023	1,918,245	$	17.07	484,529	$	31.41
Granted	572,147	$	16.47	1,030,381	$	21.15
Vested	(1,153,872)	$	10.61	—	$	—
Cancelled	(43,445)	$	23.39	—	$	—
Unvested as of January 31, 2024	1,293,075	$	22.35	1,514,910	$	24.44

Schedule of information regarding stock options

Stock Options


	2024			2023			2022
		Weighted			Weighted			Weighted
		Average			Average			Average
	Shares	Exercise		Shares	Exercise		Shares	Exercise
Stock options outstanding at beginning of year	—	$	—	10,000	$	18.11	18,245	$	23.63
Exercised	—	$	—	—	$	—	—	$	—
Granted	—	$	—	—	$	—	—	$	—
Cancelled or forfeited	—	$	—	(10,000)	$	18.11	(8,245)	$	30.32
Stock options outstanding at end of year	—	$	—	—	$	—	10,000	$	18.11
Exercisable	—	$	—	—	$	—	10,000	$	18.11

NOTES PAYABLE AND OTHER LIABILITIES (Tables)

12 Months Ended

Jan. 31, 2024

NOTES PAYABLE AND OTHER LIABILITIES [Abstract]

Schedule of long-term debt


	January 31, 2024		January 31, 2023

	(in thousands)
Secured Notes	$	400,000	$	400,000
Revolving credit facility		—		80,087
Note issued to LVMH		—		125,000
Unsecured loans		8,791		10,866
Overdraft facilities		2,651		3,657
Foreign credit facility		8,939		7,792
Subtotal		420,381		627,402
Less: Net debt issuance costs ⁽¹⁾		(2,548)		(4,246)
Debt discount		—		(3,798)
Current portion of long-term debt		(15,026)		(135,518)
Total	$	402,807	$	483,840

(1)

Does not include the debt issuance costs, net of amortization, totaling $2.4 million and $4.0 million as of January 31, 2024 and 2023, respectively, related to the revolving credit facility. The debt issuance costs have been deferred and are classified in assets in the accompanying consolidated balance sheets in accordance with ASC 835.

Schedule of future debt repayments


Year Ending January 31,	Amount
	(In thousands)
2025	$	15,026
2026		402,385
2027		1,535
2028		730
2029 and thereafter		705

Schedule of accrued expenses


	January 31, 2024		January 31, 2023

	(in thousands)
Accrued bonuses	$	38,298	$	16,831
Other accrued expenses		102,237		98,755
Total	$	140,535	$	115,586

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69B

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-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69E

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3

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+ Details

LEASES (Details) - USD ($) $ in Thousands	12 Months Ended
LEASES (Details) - USD ($) $ in Thousands	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2022
Lessee, Operating Lease, Description [Abstract]
Option to extend	true
Lessee, operating lease, option to terminate	The exercise of lease renewal options is generally at the Company’s sole discretion. The exercise of lease termination options is generally by mutual agreement between the Company and the lessor.
Variable lease costs and short-term lease costs including rent forgiveness	$ 24,100	$ 17,100	$ 10,500
Impairment charge related to the operating lease assets	$ 300	$ 700	$ 200
Minimum
Lessee, Operating Lease, Description [Abstract]
Operating lease, contract term	1 year
Renewal term	1 year
Maximum
Lessee, Operating Lease, Description [Abstract]
Operating lease, contract term	10 years
Renewal term	10 years

COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Jan. 31, 2024

COMMITMENTS AND CONTINGENCIES [Abstract]

Schedule of future minimum royalty and advertising payments required under these agreements


Year Ending January 31,	Amount
	(In thousands)
2025		108,615
2026		91,259
2027		58,111
2028		36,779
2029		11,254
Thereafter		2,308
	$	308,326

STOCKHOLDERS' EQUITY

12 Months Ended

Jan. 31, 2024

STOCKHOLDERS' EQUITY, [Abstract]

STOCKHOLDERS' EQUITY

NOTE 11 — STOCKHOLDERS’ EQUITY

Share Repurchase Program

In August 2023, our Board of Directors authorized an increase in the number of shares covered by the Company’s share repurchase program to an aggregate amount of 10,000,000 shares. Prior to this increase, the Company had 6,813,851 authorized shares under this program. The timing and actual number of shares repurchased, if any, will depend on a number of factors, including market conditions and prevailing stock prices, and are subject to compliance with certain covenants contained in the loan agreement. Share repurchases may take place on the open market, in privately negotiated transactions or by other means, and would be made in accordance with applicable securities laws.

During fiscal 2024, pursuant to this program, the Company acquired 1,598,568 shares of its common stock for an aggregate purchase price of $26.1 million. During fiscal 2023, pursuant to this program, the Company acquired 1,587,581 shares of its common stock for an aggregate purchase price of $26.9 million. During fiscal 2022, pursuant to this program, the Company acquired 656,213 shares of its common stock for an aggregate purchase price of $17.3 million. As of January 31, 2024, we had 10,000,000 authorized shares remaining under this program.

Long-Term Incentive Plan

On October 10, 2023, the Company’s shareholders approved the 2023 Long-Term Incentive Plan (the “2023 Plan”), which replaced the Company’s Amended and Restated 2015 Long-Term Incentive Plan (the “2015 Plan”). The 2023 Plan authorizes the issuance of 2.8 million shares. Shares available under the 2015 Plan, which would otherwise have expired on June 9, 2025, were not carried over into the 2023 Plan and no further grants will be made under the 2015 Plan. Outstanding awards issued prior to August 18, 2023 will continue to remain subject to the terms of the 2015 Plan. As of January 31, 2024, the Company had 2,404,510 shares available for grant under the 2023 Plan. The plan provides for the grant of equity and cash awards, including restricted stock awards, stock options and other stock unit awards to directors, officers and employees.

Restricted stock units (“RSUs”) generally (i) cliff vest after three years or (ii) vest over a three year period. Performance based restricted stock units (“PRSUs”) granted to executives prior to fiscal 2020 include (i) market price performance conditions that provide for the award to vest only after the average closing price of the Company’s stock trades above a predetermined market level and (ii) another performance condition that requires the achievement of an operating performance target. Performance stock units (“PSUs”) that were granted to executives generally vest after a three year performance period during which certain earnings before interest and taxes and return on invested capital performance standards must be satisfied for vesting to occur. Special performance stock units (“SPSUs”) were granted to Morris Goldfarb, the Company’s Chairman and Chief Executive Officer, in fiscal 2024 under the terms of his new employment agreement. These SPSUs may be earned if certain stock price, relative Total Shareholder Return target and service conditions are achieved. These awards may vest from time to time beginning on the third anniversary of the effective date of the award through the fifth anniversary of the effective date of the award.

Restricted Stock Units and Performance Based Restricted Stock Units



	Restricted Stock Units			Performance Based Restricted Stock Units
		Weighted Average			Weighted Average
	Awards	Grant Date		Awards	Grant Date
	Outstanding	Fair Value		Outstanding	Fair Value
Unvested as of January 31, 2021	1,393,268	$	12.47	466,830	$	34.17
Granted	326,791	$	31.52	176,212	$	31.43
Vested	(201,260)	$	20.43	(125,934)	$	30.23
Cancelled	(2,650)	$	33.46	—	$	—
Unvested as of January 31, 2022	1,516,149	$	15.48	517,108	$	34.20
Granted	1,076,509	$	26.88	308,317	$	31.42
Vested	(656,814)	$	29.11	(78,998)	$	35.77
Cancelled	(17,599)	$	31.21	(261,898)	$	35.60
Unvested as of January 31, 2023	1,918,245	$	17.07	484,529	$	31.41
Granted	572,147	$	16.47	1,030,381	$	21.15
Vested	(1,153,872)	$	10.61	—	$	—
Cancelled	(43,445)	$	23.39	—	$	—
Unvested as of January 31, 2024	1,293,075	$	22.35	1,514,910	$	24.44

Restricted Stock Units

RSUs are time based awards that do not have market or performance conditions and (i) cliff vest after three years or (ii) vest over a three year period. The grant date fair value for RSUs are based on the quoted market price on the date of grant. Compensation expense for RSUs is recognized in the consolidated financial statements on a straight-line basis over the service period based on their grant date fair value.

Performance Based Restricted Stock Units

Performance based restricted stock units consist of PRSUs, PSUs and SPSUs.

PRSUs were granted to executives prior to fiscal 2020 and included (i) market price performance conditions that provide for the award to vest only after the average closing price of the Company’s stock trades above a predetermined market level and (ii) another performance condition that requires the achievement of an operating performance target. PRSUs generally vest over a two to five year period. For restricted stock units with market conditions, the Company estimates the grant date fair value using a Monte Carlo simulation model. This valuation methodology utilizes the closing price of the Company’s common stock on grant date and several key assumptions, including expected volatility of the Company’s stock price, and risk-free rates of return. This valuation is performed with the assistance of a third party valuation specialist. PRSUs are expensed over the service period under the accelerated attribution method.

Performance stock units (“PSUs”) were granted to executives beginning in fiscal 2020 and vest after a three year performance period during which certain earnings before interest and taxes and return on invested capital performance conditions must be satisfied for vesting to occur. PSUs are expensed over the service period under the accelerated attribution method and based on an estimated percentage of achievement of certain pre-established goals.

Special performance stock units (“SPSUs”) were granted to Morris Goldfarb, the Company’s Chairman and Chief Executive Officer, in fiscal 2024 under the terms of his employment agreement entered into in August 2023. These SPSUs may be earned if certain stock price, relative Total Shareholder Return target and service conditions are achieved. These awards may vest from time to time beginning on the third anniversary of the effective date of the award through the fifth anniversary of the effective date of the award. For restricted stock units with market conditions, the Company estimates the grant date fair value using a Monte Carlo simulation model. This valuation methodology utilizes the closing price of the Company’s common stock on grant date and several key assumptions, including expected volatility of the Company’s stock price, and risk-free rates of return. This valuation is performed with the assistance of a third party valuation specialist. SPSUs are expensed over the service period under the accelerated attribution method.

The Company accounts for forfeited awards as they occur as permitted by ASC 718. Ultimately, the actual expense recognized over the vesting period will be for those shares that vest.

The Company recognized $17.2 million, $32.5 million and $17.4 million in share-based compensation expense for the years ended January 31, 2024, 2023 and 2022 respectively, related to restricted stock unit grants. At January 31, 2024, 2023 and 2022, unrecognized costs related to the restricted stock units totaled $32.8 million, $20.8 million and $21.2 million, respectively. The total fair value of awards for which restrictions lapsed was $23.0 million, $20.4 million and $10.8 million as of January 31, 2024, 2023 and 2022, respectively.

Stock Options


	2024			2023			2022
		Weighted			Weighted			Weighted
		Average			Average			Average
	Shares	Exercise		Shares	Exercise		Shares	Exercise
Stock options outstanding at beginning of year	—	$	—	10,000	$	18.11	18,245	$	23.63
Exercised	—	$	—	—	$	—	—	$	—
Granted	—	$	—	—	$	—	—	$	—
Cancelled or forfeited	—	$	—	(10,000)	$	18.11	(8,245)	$	30.32
Stock options outstanding at end of year	—	$	—	—	$	—	10,000	$	18.11
Exercisable	—	$	—	—	$	—	10,000	$	18.11

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

NOTES PAYABLE AND OTHER LIABILITIES- Accrued expenses (Details) - USD ($) $ in Thousands	Jan. 31, 2024	Jan. 31, 2023
NOTES PAYABLE AND OTHER LIABILITIES [Abstract]
Accrued bonuses	$ 38,298	$ 16,831
Other accrued expenses	102,237	98,755
Total	$ 140,535	$ 115,586

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment	Retained Earnings	Common Stock Held In Treasury	Cumulative Effect, Period of Adoption, Adjustment	Total
Balance at beginning of period at Jan. 31, 2021	$ 264	$ 448,417	$ (2,094)		$ 916,683			$ 1,336,241
Balance at beginning of period, treasury at Jan. 31, 2021						$ (27,029)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity awards exercised/vested, net		(5,172)				5,172
Share-based compensation expense		17,424						17,424
Taxes paid for net share settlements		(4,340)						(4,340)
Other comprehensive loss, net			(12,435)					(12,435)
Repurchases of common stock						(17,300)		(17,300)
Net income (loss) attributable to G-III Apparel Group, Ltd.					200,593			200,593
Balance at end of period, treasury at Jan. 31, 2022						(39,157)
Balance at end of period at Jan. 31, 2022	264	456,329	(14,529)	$ (271)	1,117,005		$ (271)	1,519,912
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity awards exercised/vested, net		(10,287)				10,287
Share-based compensation expense		32,475						32,475
Taxes paid for net share settlements		(9,805)						(9,805)
Other comprehensive loss, net			2,876					2,876
Repurchases of common stock						(26,949)		(26,949)
Net income (loss) attributable to G-III Apparel Group, Ltd.					(133,061)			(133,061)
Balance at end of period, treasury at Jan. 31, 2023						(55,819)		(55,819)
Balance at end of period at Jan. 31, 2023	264	468,712	(11,653)		983,944			1,385,448
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity awards exercised/vested, net		(16,169)				16,169
Share-based compensation expense		17,164						17,164
Taxes paid for net share settlements		(10,866)						(10,866)
Other comprehensive loss, net			8,446					8,446
Repurchases of common stock						(26,100)		(26,100)
Net income (loss) attributable to G-III Apparel Group, Ltd.					176,168			176,168
Balance at end of period, treasury at Jan. 31, 2024						$ (65,750)		(65,750)
Balance at end of period at Jan. 31, 2024	$ 264	$ 458,841	$ (3,207)		$ 1,160,112			$ 1,550,260

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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- Definition

Equity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

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+ Details

NOTES PAYABLE AND OTHER LIABILITIES - Future Debt Maturities (Detail) $ in Thousands	Jan. 31, 2024 USD ($)
NOTES PAYABLE AND OTHER LIABILITIES [Abstract]
2025	$ 15,026
2026	402,385
2027	1,535
2028	730
2029 and thereafter	$ 705

ALLOWANCE FOR DOUBTFUL ACCOUNTS (Accounts Receivable and Allowance for Doubtful Accounts) (Details) - USD ($) $ in Thousands	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2022
Segment Reporting Information [Line Items]
Accounts receivable, gross	$ 563,834	$ 693,260
Allowance for doubtful accounts	(1,471)	(18,297)	$ (17,391)
Accounts receivable, net	562,363	674,963
Wholesale
Segment Reporting Information [Line Items]
Accounts receivable, gross	563,130	692,033
Allowance for doubtful accounts	(1,408)	(18,237)	(17,307)
Accounts receivable, net	561,722	673,796
Retail
Segment Reporting Information [Line Items]
Accounts receivable, gross	704	1,227
Allowance for doubtful accounts	(63)	(60)	$ (84)
Accounts receivable, net	$ 641	$ 1,167

INTANGIBLE ASSETS (Tables)

12 Months Ended

Jan. 31, 2024

INTANGIBLE ASSETS [Abstract]

Schedule of intangible assets

Intangible assets consist of:



January 31, 2024	Estimated Life	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount

		(In thousands)
Finite-lived intangible assets
Licenses	14 years	$	19,152	$	(17,930)	$	1,222
Customer relationships	15-17 years		52,592		(25,903)		26,689
Other	5-10 years		9,496		(5,731)		3,765
Total finite-lived intangible assets		$	81,240	$	(49,564)	$	31,676
Indefinite-lived intangible assets
Trademarks							630,333
Total indefinite-lived intangible assets							630,333
Total intangible assets, net						$	662,009



January 31, 2023	Estimated Life	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount

		(In thousands)
Finite-lived intangible assets
Licenses	14 years	$	18,955	$	(17,314)	$	1,641
Customer relationships	15-17 years		52,392		(22,931)		29,461
Other	5-10 years		8,583		(4,843)		3,740
Total finite-lived intangible assets		$	79,930	$	(45,088)	$	34,842
Indefinite-lived intangible assets
Trademarks							628,156
Total indefinite-lived intangible assets							628,156
Total intangible assets, net						$	662,998

Schedule of estimated intangible amortization expense

The estimated amortization expense with respect to intangibles for the next five years is as follows:


Year Ending January 31,	Amortization Expense
	(In thousands)
2025	$	5,106
2026		3,984
2027		3,578
2028		3,264
2029		3,274

Schedule of changes in amounts of goodwill

There was no goodwill recognized during the year ended January 31, 2024. Changes in the amounts of goodwill for the year ended January 31, 2023 is summarized by reportable segment as follows (in thousands):


	Wholesale		Retail		Total
January 31, 2022	$	262,527	$	—	$	262,527
Acquisition of Karl Lagerfeld		84,336		—		84,336
Acquisition of other foreign business		3,523		—		3,523
Impairment		(347,172)		—		(347,172)
Currency translation		(3,214)		—		(3,214)
January 31, 2023	$	—	$	—	$	—

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

PROPERTY AND EQUIPMENT (Tables)

12 Months Ended

Jan. 31, 2024

PROPERTY AND EQUIPMENT [Abstract]

Schedule of property and equipment


		January 31,
	Estimated life	2024		2023

		(In thousands)
Machinery and equipment	5 years	$	2,586	$	2,437
Leasehold improvements	3-13 years		91,329		83,768
Furniture and fixtures	3-5 years		134,540		130,340
Computer equipment and software	2-5 years		59,957		52,293
			288,412		268,838
Less: accumulated depreciation			(233,328)		(215,096)
		$	55,084	$	53,742

REVENUE RECOGNITION

12 Months Ended

Jan. 31, 2024

REVENUE RECOGNITION [Abstract]

REVENUE RECOGNITION

NOTE 2 — REVENUE RECOGNITION

Wholesale revenue is recognized upon the transfer of goods to customers in an amount that reflects the expected consideration to be received in exchange for these goods. The difference between the amount initially billed and the amount collected represents variable consideration. Variable consideration includes trade discounts, end of season markdowns, sales allowances, cooperative advertising, return liabilities and other customer allowances. The Company estimates the

anticipated variable consideration and records this estimate as a reduction of revenue in the period the related product revenue is recognized.

The liability recorded in connection with variable consideration, except for cooperative advertising, has been classified as a current liability under “customer refund liabilities” on the consolidated balance sheets. The Company classifies cooperative advertising as a reduction of net sales in the consolidated statements of operations and comprehensive income (loss). Costs expected to be incurred when products are returned should be accrued for upon the sale of the product as a component of cost of goods sold.

Disaggregation of Revenue

In accordance with ASC 606, the Company elected to disclose its revenues by segment. Each segment presents its own characteristics with respect to the timing of revenue recognition and the type of customer. In addition, disaggregating revenues using a segment basis is consistent with how the Company’s Chief Operating Decision Maker manages the Company. The Company identified the wholesale operations segment and the retail operations segment as distinct sources of revenue.

Wholesale Operations Segment. Wholesale revenues include sales of products to retailers under owned, licensed and private label brands, as well as sales related to the Vilebrequin and Karl Lagerfeld businesses, including from retail stores operated by Vilebrequin and Karl Lagerfeld, other than sales of product under the Karl Lagerfeld Paris brand generated by the Company’s retail stores and digital outlets. Wholesale revenues from sales of products are recognized when control transfers to the customer. The Company considers control to have been transferred when the Company has transferred physical possession of the product, the Company has a right to payment for the product, the customer has legal title to the product and the customer has the significant risks and rewards of the product. Wholesale revenues are adjusted by variable considerations arising from implicit or explicit obligations. Wholesale revenues also include revenues from license agreements related to the DKNY, Donna Karan, Karl Lagerfeld, G.H. Bass, Andrew Marc, Vilebrequin and Sonia Rykiel trademarks owned by the Company. As of January 31, 2024, revenues from license agreements represented an insignificant portion of wholesale revenues.

Retail Operations Segment. Retail store revenues are generated by direct sales to consumers through Company-operated stores and product sales through the Company’s digital channels for the DKNY, Donna Karan, Karl Lagerfeld Paris, G.H. Bass, Andrew Marc and Wilsons Leather businesses. Retail stores primarily consist of DKNY and Karl Lagerfeld Paris retail stores, substantially all of which are operated as outlet stores. Retail operations segment revenues are recognized at the point of sale when the customer takes possession of the goods and tenders payment. Digital revenues primarily consist of sales to consumers through the Company’s digital platforms. Digital revenue is recognized when a customer takes possession of the goods. Retail sales are recorded net of applicable sales tax.

Variable Consideration. The difference between the amount initially billed and the amount collected represents variable consideration. The Company may provide customers with discounts, rebates, credit returns and price reductions. The Company may also contribute to customers’ promotional activities or incur charges for compliance violations. These adjustments to the initial selling price often occur after the sales process is completed.

The Company identified the following elements of variable consideration:

Markdowns. Markdown allowances consist of accommodations in the form of price reductions to wholesale customers for purchased merchandise. In general, markdowns are granted to full price customers, such as department stores. Markdowns may vary year-over-year and are granted based on the performance of Company merchandise at a customer’s retail stores.

Term Discounts. Term discounts represent a discount from the initial wholesale sales price to certain wholesale customers consistent with customary industry practice.

Sales Allowances. Sales allowances are reductions of the selling price agreed upon with wholesale customers. Sales allowances may be contractual or may be granted on a case-by-case basis. Non-contractual sales allowances may be granted in connection with billing adjustments and, in some cases, for product related issues.

Advertising Allowances. Advertising allowances consist of the Company’s financial participation in the promotional efforts of its wholesale customers. Wholesale customers may charge back a portion of the advertising expense incurred against open invoices. Advertising programs are generally agreed upon at the beginning of a season.

Other Allowances. General allowances consist of price reductions granted to a wholesale customer and may relate to the Company’s participation in costs incurred by the customer during the sales process, as well as price differences, shortages and charges for operational non-compliance.

Return of Merchandise. For wholesale customers, the Company may make accommodations for returns of merchandise that is underperforming at a customer’s retail stores. For retail customers, as a matter of Company policy, whether merchandise is purchased at the Company’s stores or on its digital platforms, the consumer generally has up to 90 days to return merchandise from the date of purchase.

Variable consideration is estimated based on historical experience, current contractual and statutory requirements, specific known events and industry trends. The reserves for variable consideration are recorded under customer refund liabilities. As of January 31, 2024 and 2023, customer refund liabilities amounted to $84.1 million and $89.8 million, respectively. Historical return rates are calculated on a product line basis. The remainder of the historical rates for variable consideration are calculated by customer by product lines.

Contract Liabilities

The Company’s contract liabilities, which are recorded within accrued expenses in the accompanying consolidated balance sheets, primarily consist of gift card liabilities and advance payments from licensees. In some of its retail concepts, the Company also offers a limited loyalty program where customers accumulate points redeemable for cash discount certificates that expire 90 days after issuance. Total contract liabilities were $5.2 million and $5.1 million at January 31, 2024 and 2023, respectively. The Company recognized $4.7 million in revenue for the year ended January 31, 2024 which related to contract liabilities that existed at January 31, 2023. There were no contract assets recorded as of January 31, 2024 and January 31, 2023. Substantially all of the advance payments from licenses as of January 31, 2024 are expected to be recognized as revenue within the next twelve months.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

INCOME TAXES - Components of Income Tax Provision (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2022
Current
Federal	$ 42,376	$ 27,982	$ 39,283
State and city	9,768	8,278	4,484
Foreign	9,971	14,647	5,991
Current Income Tax Expense (Benefit), Total	62,115	50,907	49,758
Deferred
Federal	6,469	(50,764)	17,090
State and city	878	(4,457)	2,116
Foreign	(3,603)	526	1,911
Deferred Income Tax Expense (Benefit), Total	3,744	(54,695)	21,117
Income tax expense (benefit)	65,859	(3,788)	70,875
Income (loss) before income taxes
United States	218,528	(106,086)	234,034
Non-United States	22,071	(32,084)	36,942
Income (loss) before income taxes	$ 240,599	$ (138,170)	$ 270,976

LEASES (Tables)

12 Months Ended

Jan. 31, 2024

LEASES [Abstract]

Schedule of lease assets and liabilities


Leases	Classification	January 31, 2024		January 31, 2023

		(In thousands)
Assets
Operating	Operating lease assets	$	216,886	$	239,665
Total lease assets		$	216,886	$	239,665

Liabilities
Current operating	Current operating lease liabilities	$	56,587	$	52,917
Noncurrent operating	Noncurrent operating lease liabilities		178,247		204,974
Total lease liabilities		$	234,834	$	257,891

Schedule of maturity of operating lease liabilities


Year Ending January 31,	Amount
	(In thousands)
2025	$	73,297
2026		61,150
2027		48,552
2028		39,004
2029		26,150
After 2029		40,171
Total lease payments	$	288,324
Less: Interest		53,490
Present value of lease liabilities	$	234,834

KARL LAGERFELD ACQUISITION

12 Months Ended

Jan. 31, 2024

KARL LAGERFELD ACQUISITION [Abstract]

KARL LAGERFELD ACQUISITION

NOTE 15 — KARL LAGERFELD ACQUISITION

On April 29, 2022, the Company entered into a share purchase agreement (the “Purchase Agreement”) pursuant to which the Company agreed to acquire the remaining 81% interest in KLH that it did not already own, for an aggregate consideration of €193.4 million (approximately $207.6 million) in cash, after taking into account certain adjustments. The acquisition closed on May 31, 2022. The Company funded the purchase price from cash on hand.

On May 31, 2022, the effective date of the acquisition, the Company’s previously held 19% investment in KLH and 49% investment in KLNA were remeasured at fair value using a market approach based on the purchase price of the acquisition and a discount for lack of control related to the Company’s previously held minority investment in KLH. As a result of this remeasurement, a non-cash gain of $27.1 million was recorded as of the effective date of the acquisition.

The addition of KLH to the Company’s portfolio of owned brands advances several of its strategic initiatives, including increasing its direct ownership of brands and their licensing opportunities and further diversifying its global presence. This acquisition offers additional opportunities to expand the Company’s international growth by further developing its European-based brands, which also include Vilebrequin and Sonia Rykiel. The Company believes that Karl Lagerfeld’s existing digital channel presence provides an opportunity for the Company to enhance its omni-channel business and further accelerate its digital initiatives.

Purchase Price Consideration

The purchase price of $207.6 million, after taking into account certain adjustments, was paid from cash on hand. The purchase price has been revised to include adjustments in accordance with the Purchase Agreement.

The initial purchase price and the valuation of the prior minority ownership for the acquisition of KLH is as follows (in thousands):


Cash disbursed for the acquisition of KLH	$	168,592
Plus: cash acquired		38,499
Plus: aggregate adjustments to purchase price		516
Initial purchase price		207,607
Plus: fair value of prior minority ownership		102,858
Total consideration	$	310,465

Allocation of the Purchase Price Consideration

The following table summarizes the fair values of the assets acquired and liabilities assumed at the date of acquisition:


(In thousands)
Cash and cash equivalents	$	38,499
Accounts receivable, net		28,449
Inventories		33,489
Prepaid income taxes		1,100
Prepaid expenses and other current assets		3,347
Property, plant and equipment, net		11,545
Operating lease assets		55,753
Goodwill		84,336
Trademarks		178,823
Customer relationships		4,294
Deferred income taxes		5,131
Other long-term assets		2,237
Total assets acquired	$	447,003
Notes payable		3,606
Accounts payable		9,175
Accrued expenses		15,261
Operating lease liabilities		58,942
Income taxes payable		2,099
Deferred income taxes		42,222
Other long-term liabilities		5,233
Total liabilities assumed	$	136,538
Total fair value of acquisition consideration	$	310,465

During the year ended January 31, 2023, the Company recorded adjustments to the fair values of assets acquired and liabilities assumed at the date of acquisition based on additional information obtained. The Company recorded an additional $36.9 million in both total assets and total liabilities, primarily related to goodwill, deferred tax assets and liabilities, operating lease assets, inventories, accounts receivable, net, accounts payable, customer relationships and operating lease liabilities.

The Company recognized goodwill for tax purposes of approximately $84.3 million in connection with the acquisition of KLH. The goodwill was assigned to the Company’s wholesale operations reporting unit. In fiscal 2023, as a result of the Company’s annual impairment test, the Company recorded a $347.2 million non-cash impairment charge to fully impair the carrying value of its goodwill. This charge included all of the $84.3 million of goodwill previously recognized in connection with the acquisition of KLH. The Company made an election under Internal Revenue Code Section 338(g) to amortize the total goodwill and intangible assets over a 15 year period for income tax purposes in the United States.

The fair values assigned to identifiable intangible assets acquired were based on assumptions and estimates made by management using unobservable inputs reflecting the Company’s own assumptions about the inputs that market participants would use in pricing the asset or liability based on the best information available. The fair values of the trademarks were determined using the relief from royalty method and the fair value of the customer relationships were determined using an income approach. The Company classifies these intangibles as Level 3 fair value measurements. Identifiable intangible assets acquired include the following (in thousands):

The Company recognized approximately $5.6 million of acquisition related costs that were expensed in fiscal 2023 and fiscal 2022. The fiscal 2023 and fiscal 2022 acquisition and integration costs are recorded within selling, general and administrative expenses in the Company’s consolidated statements of operations and comprehensive income (loss) for the fiscal years ended January 31, 2023 and January 31, 2022, respectively.

The fair value of assets acquired and liabilities assumed were finalized as of May 31, 2023.

SEGMENTS

12 Months Ended

Jan. 31, 2024

SEGMENTS [Abstract]

SEGMENTS

NOTE 14 — SEGMENTS

The Company’s reportable segments are business units that offer products through different channels of distribution. The Company has two reportable segments: wholesale operations and retail operations. The wholesale operations segment includes sales of products to retailers under owned, licensed and private label brands, as well as sales related to the Vilebrequin and Karl Lagerfeld businesses, including from retail stores operated by Vilebrequin and Karl Lagerfeld, other than sales of product under the Karl Lagerfeld Paris brand generated by the Company’s retail stores and digital outlets. Wholesale revenues also include revenues from license agreements related to the DKNY, Donna Karan, Karl Lagerfeld, Vilebrequin, G.H. Bass, Andrew Marc and Sonia Rykiel trademarks owned by the Company. The retail operations segment consists primarily of direct sales to consumers through Company-operated stores, which consists primarily of DKNY and Karl Lagerfeld Paris stores, as well as the digital channels for DKNY, Donna Karan, Karl Lagerfeld Paris, G.H. Bass and Wilsons Leather. Substantially all DKNY and Karl Lagerfeld Paris stores are operated as outlet stores.

The following segment information, in thousands, is presented for the fiscal years ended:


	January 31, 2024
	Wholesale		Retail		Elimination ⁽¹⁾		Total
Net sales	$	3,009,614	$	148,428	$	(59,800)	$	3,098,242
Cost of goods sold		1,839,183		77,012		(59,800)		1,856,395
Gross profit		1,170,431		71,416		—		1,241,847
Selling, general and administrative expenses		826,921		97,302		—		924,223
Depreciation and amortization		22,505		5,018		—		27,523
Asset impairments		7,140		(382)		—		6,758
Operating profit (loss)	$	313,865	$	(30,522)	$	—	$	283,343


	January 31, 2023
	Wholesale		Retail		Elimination ⁽¹⁾		Total
Net sales	$	3,160,025	$	137,231	$	(70,528)	$	3,226,728
Cost of goods sold		2,127,318		68,801		(70,528)		2,125,591
Gross profit		1,032,707		68,430		—		1,101,137
Selling, general and administrative expenses		736,820		96,331		—		833,151
Depreciation and amortization		23,980		3,782		—		27,762
Asset impairments		347,722		1,964		—		349,686
Operating profit (loss)	$	(75,815)	$	(33,647)	$	—	$	(109,462)


	January 31, 2022
	Wholesale		Retail		Elimination ⁽¹⁾		Total
Net sales	$	2,710,787	$	117,656	$	(61,905)	$	2,766,538
Cost of goods sold		1,782,533		57,721		(61,905)		1,778,349
Gross profit		928,254		59,935		—		988,189
Selling, general and administrative expenses		567,949		80,066		—		648,015
Depreciation and amortization		24,023		3,603		—		27,626
Asset impairments		368		1,087		—		1,455
Operating profit (loss)	$	335,914	$	(24,821)	$	—	$	311,093

(1)	Represents intersegment sales to the Company’s retail operations segment.

The total net sales by licensed and proprietary product sales for each of the Company’s reportable segments are as follows:


	January 31,
	2024		2023		2022

	(In thousands)
Licensed brands	$	1,653,259	$	1,891,522	$	1,820,491
Proprietary brands		1,356,355		1,268,503		890,296
Wholesale net sales⁽¹⁾	$	3,009,614	$	3,160,025	$	2,710,787

Licensed brands	$	—	$	—	$	39,604
Proprietary brands		148,428		137,231		78,052
Retail net sales	$	148,428	$	137,231	$	117,656

(1)

As of May 31, 2022, the Company acquired the remaining interests in KLH (Karl Lagerfeld branded product) that it did not already own. Net sales of Karl Lagerfeld product were included in licensed brands net sales of the wholesale operations segment through May 31, 2022. Subsequent to May 31, 2022, net sales of Karl Lagerfeld product are included in proprietary brands net sales of the wholesale operations segment.

The Company allocates overhead to its business segments on various bases, which include units shipped, space utilization, inventory levels, and relative sales levels, among other factors. The method of allocation has been applied consistently on a year-to-year basis.

The total assets for each of the Company’s reportable segments, as well as assets not allocated to a segment, are as follows:


	January 31,		January 31,
	2024		2023

	(In thousands)
Wholesale	$	1,562,203	$	1,746,314
Retail		104,272		127,047
Corporate		1,014,689		839,044
Total Assets	$	2,681,164	$	2,712,405

The total net sales and long-lived assets by geographic region are as follows:


	2024				2023				2022
			Long-Lived				Long-Lived				Long-Lived
Geographic Region	Net Sales		Assets		Net Sales		Assets		Net Sales		Assets
United States	$	2,400,191	$	605,548	$	2,609,710	$	633,799	$	2,365,919	$	938,947
Non-United States		698,051		415,298		617,018		426,106		400,619		150,724
	$	3,098,242	$	1,020,846	$	3,226,728	$	1,059,905	$	2,766,538	$	1,089,671

Capital expenditures for locations outside of the United States totaled $15.0 million, $10.5 million and $4.3 million for the years ended January 31, 2024, 2023 and 2022, respectively.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

EMPLOYEE BENEFIT PLANS - Textuals (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2022
EMPLOYEE BENEFIT PLANS [Abstract]
Non-discretionary matching contribution	100.00%
Percentage of employee's compensation matched by employer	3.00%
Employer matching percentage of employee contributions	50.00%
Percentage of additional employee's compensation matched by employer	2.00%
Defined contribution plan, matching contributions	$ 4.3	$ 4.0	$ 0.3

STOCKHOLDERS' EQUITY - Textuals (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2022	Oct. 10, 2023	Aug. 31, 2023	Jul. 31, 2023
Stockholders Equity [Line Items]
Aggregate number of shares authorized for repurchase					10,000,000	6,813,851
Common stock share acquired	1,598,568	1,587,581	656,213
Aggregate purchase price	$ 26,100	$ 26,949	$ 17,300
Stock repurchase program, remaining shares authorized	10,000,000
Long-Term Incentive Stock Plan
Stockholders Equity [Line Items]
Shares authorized				2,800,000
Shares available for grant	2,404,510
Restricted Stock Units (RSUs)
Stockholders Equity [Line Items]
Vesting and exercise period of awards	3 years
Restricted Stock Units (RSUs) \| Long-Term Incentive Stock Plan
Stockholders Equity [Line Items]
Share-based compensation expense	$ 17,200	32,500	17,400
Unrecognized stock compensation related to unvested option awards	32,800	20,800	21,200
Fair value of award for which restrictions lapsed	$ 23,000	$ 20,400	$ 10,800
Performance Shares
Stockholders Equity [Line Items]
Vesting and exercise period of awards	3 years
Lock up period after vesting	2 years
Performance Shares \| Minimum
Stockholders Equity [Line Items]
Vesting and exercise period of awards	2 years
Performance Shares \| Maximum
Stockholders Equity [Line Items]
Vesting and exercise period of awards	5 years

SEGMENTS - Textuals (Details) $ in Millions	12 Months Ended
SEGMENTS - Textuals (Details) $ in Millions	Jan. 31, 2024 USD ($) segment	Jan. 31, 2023 USD ($)	Jan. 31, 2022 USD ($)
SEGMENTS [Abstract]
Number of Reportable Segments \| segment	2
Capital expenditures for outside of United States \| $	$ 15.0	$ 10.5	$ 4.3

STOCKHOLDERS' EQUITY - Restricted Stock (Details) - $ / shares	12 Months Ended
	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2022
Restricted Stock Units (RSUs)
Awards Outstanding
Unvested, beginning balance	1,918,245	1,516,149	1,393,268
Granted	572,147	1,076,509	326,791
Vested	(1,153,872)	(656,814)	(201,260)
Cancelled	(43,445)	(17,599)	(2,650)
Unvested, ending balance	1,293,075	1,918,245	1,516,149
Weighted Average Grant Date Fair Value
Unvested, beginning balance	$ 17.07	$ 15.48	$ 12.47
Granted	16.47	26.88	31.52
Vested	10.61	29.11	20.43
Canceled	23.39	31.21	33.46
Unvested, ending balance	$ 22.35	$ 17.07	$ 15.48
Performance Shares
Awards Outstanding
Unvested, beginning balance	484,529	517,108	466,830
Granted	1,030,381	308,317	176,212
Vested		(78,998)	(125,934)
Cancelled		(261,898)
Unvested, ending balance	1,514,910	484,529	517,108
Weighted Average Grant Date Fair Value
Unvested, beginning balance	$ 31.41	$ 34.20	$ 34.17
Granted	21.15	31.42	31.43
Vested		35.77	30.23
Canceled		35.60
Unvested, ending balance	$ 24.44	$ 31.41	$ 34.20

Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Jan. 31, 2024	Mar. 21, 2024	Jul. 31, 2023
Document And Entity Information Abstract
Document Type	10-K
Document Annual Report	true
Document Period End Date	Jan. 31, 2024
Document Transition Report	false
Entity File Number	0-18183
Entity Registrant Name	G III APPAREL GROUP LTD /DE/
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	41-1590959
Entity Address, Address Line One	512 Seventh Avenue
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10018
City Area Code	212
Local Phone Number	403-0500
Title of 12(b) Security	Common Stock
Trading Symbol	GIII
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 1,042,589,801
Entity Common Stock Shares Outstanding		45,417,321
Auditor Firm ID	42
Auditor Name	Ernst & Young LLP
Auditor Location	New York, New York
Entity Central Index Key	0000821002
Current Fiscal Year End Date	--01-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false
Documents Incorporated by Reference	Documents incorporated by reference: Certain portions of the registrant’s definitive Proxy Statement relating to the registrant’s Annual Meeting of Stockholders to be held on or about June 13, 2024, to be filed pursuant to Regulation 14A of the Securities Exchange Act of 1934 with the Securities and Exchange Commission, are incorporated by reference into Part III of this Report.

SIGNIFICANT ACCOUNTING POLICIES - Carrying Values and the Estimated Fair Values of Debt Instruments (Details) - USD ($) $ in Thousands	Jan. 31, 2024	Jan. 31, 2023	Aug. 07, 2020
Secured notes
Debt Instrument [Line Items]
Debt instrument interest rate			7.875%
Principal amount of debt			$ 400,000
Note issued to LVMH
Debt Instrument [Line Items]
Debt instrument interest rate	2.00%
Principal amount of debt	$ 125,000
Debt discount	40,000
Level 1 \| Secured notes
Debt Instrument [Line Items]
Debt instruments, carrying value	400,000	$ 400,000
Debt instruments, fair value	401,080	380,000
Level 2 \| Revolving credit facility
Debt Instrument [Line Items]
Debt instruments, carrying value		80,087
Debt instruments, fair value		80,087
Level 2 \| Unsecured Loan
Debt Instrument [Line Items]
Debt instruments, carrying value	8,791	10,866
Debt instruments, fair value	8,791	10,866
Level 2 \| Overdraft facilities
Debt Instrument [Line Items]
Debt instruments, carrying value	2,651	3,657
Debt instruments, fair value	2,651	3,657
Level 2 \| Foreign credit facility
Debt Instrument [Line Items]
Debt instruments, carrying value	8,939	7,792
Debt instruments, fair value	$ 8,939	7,792
Level 3 \| Note issued to LVMH
Debt Instrument [Line Items]
Debt instruments, carrying value		121,202
Debt instruments, fair value		$ 119,426

CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) shares in Thousands, $ in Millions	Jan. 31, 2024	Jan. 31, 2023
CONSOLIDATED BALANCE SHEETS
Allowance for doubtful accounts	$ 1,471.0	$ 18,297.0
Preferred stock, shares authorized	1,000	1,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	120,000	120,000
Common stock, shares issued	49,396	49,396
Treasury stock, shares	3,668	2,680

INVENTORIES - Textuals (Details) - USD ($) $ in Millions	Jan. 31, 2024	Jan. 31, 2023
Inventory [Line Items]
Inventory held on consignment	$ 6.6	$ 6.6
Prepaid Expenses and Other Current Assets
Inventory [Line Items]
Inventory return asset	$ 16.5	$ 19.2

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2022
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
Net sales	$ 3,098,242	$ 3,226,728	$ 2,766,538
Cost of goods sold	1,856,395	2,125,591	1,778,349
Gross profit	1,241,847	1,101,137	988,189
Selling, general and administrative expenses	924,223	833,151	648,015
Depreciation and amortization	27,523	27,762	27,626
Asset impairments	6,758	349,686	1,455
Operating profit (loss)	283,343	(109,462)	311,093
Other income (loss)	(3,149)	27,894	9,549
Interest and financing charges, net	(39,595)	(56,602)	(49,666)
Income (loss) before income taxes	240,599	(138,170)	270,976
Income tax expense (benefit)	65,859	(3,788)	70,875
Net income (loss)	174,740	(134,382)	200,101
Less: Loss attributable to noncontrolling interests	(1,428)	(1,321)	(492)
Net income (loss) attributable to G-III Apparel Group, Ltd.	$ 176,168	$ (133,061)	$ 200,593
Basic:
Net income (loss) per common share	$ 3.84	$ (2.79)	$ 4.14
Weighted average number of shares outstanding (in shares)	45,859	47,653	48,426
Diluted:
Net income (loss) per common share	$ 3.75	$ (2.79)	$ 4.05
Weighted average number of shares outstanding (in shares)	47,000	47,653	49,516
Net income (loss)	$ 174,740	$ (134,382)	$ 200,101
Other comprehensive income (loss):
Foreign currency translation adjustments	8,462	2,965	(12,456)
Other comprehensive income (loss):	8,462	2,965	(12,456)
Comprehensive income (loss)	183,202	(131,417)	187,645
Comprehensive loss attributable to noncontrolling interests:
Net loss	(1,428)	(1,321)	(492)
Foreign currency translation adjustments	(16)	(89)	21
Comprehensive loss attributable to noncontrolling interests	(1,444)	(1,410)	(471)
Comprehensive income (loss) attributable to G-III Apparel Group, Ltd.	$ 181,758	$ (132,827)	$ 187,174

SEGMENTS - Information Regarding Reportable Segments (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2022
Segment Reporting Information [Line Items]
Net sales	$ 3,098,242	$ 3,226,728	$ 2,766,538
Cost of goods sold	1,856,395	2,125,591	1,778,349
Gross profit	1,241,847	1,101,137	988,189
Selling, general and administrative expenses	924,223	833,151	648,015
Depreciation and amortization	27,523	27,762	27,626
Asset impairments	6,758	349,686	1,455
Operating profit (loss)	283,343	(109,462)	311,093
Operating Segments \| Wholesale operations
Segment Reporting Information [Line Items]
Net sales	3,009,614	3,160,025	2,710,787
Cost of goods sold	1,839,183	2,127,318	1,782,533
Gross profit	1,170,431	1,032,707	928,254
Selling, general and administrative expenses	826,921	736,820	567,949
Depreciation and amortization	22,505	23,980	24,023
Asset impairments	7,140	347,722	368
Operating profit (loss)	313,865	(75,815)	335,914
Operating Segments \| Retail
Segment Reporting Information [Line Items]
Net sales	148,428	137,231	117,656
Cost of goods sold	77,012	68,801	57,721
Gross profit	71,416	68,430	59,935
Selling, general and administrative expenses	97,302	96,331	80,066
Depreciation and amortization	5,018	3,782	3,603
Asset impairments	(382)	1,964	1,087
Operating profit (loss)	(30,522)	(33,647)	(24,821)
Elimination
Segment Reporting Information [Line Items]
Net sales	(59,800)	(70,528)	(61,905)
Cost of goods sold	$ (59,800)	$ (70,528)	$ (61,905)

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2022
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	$ 108,057	$ 104,179	$ 116,814
Charges to Cost and Expenses	204,979	188,310	137,237
Deductions	227,511	184,432	149,872
Balance at End of Period	85,525	108,057	104,179
Allowance for doubtful accounts
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	18,297	17,391	17,459
Charges to Cost and Expenses	(163)	978	157
Deductions	16,663	72	225
Balance at End of Period	1,471	18,297	17,391
Reserve for returns
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	30,610	30,821	40,704
Charges to Cost and Expenses	32,022	31,944	19,475
Deductions	33,322	32,155	29,358
Balance at End of Period	29,310	30,610	30,821
Reserve for sales allowances
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	59,150	55,967	58,651
Charges to Cost and Expenses	173,120	155,388	117,605
Deductions	177,526	152,205	120,289
Balance at End of Period	$ 54,744	$ 59,150	$ 55,967

LEASES - Future minimum payments under our operating lease (Details) - USD ($) $ in Thousands	Jan. 31, 2024	Jan. 31, 2023
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2025	$ 73,297
2026	61,150
2027	48,552
2028	39,004
2029	26,150
After 2029	40,171
Total lease payments	288,324
Less: Interest	53,490
Present value of lease liabilities	$ 234,834	$ 257,891

CONCENTRATION - Textuals (Details) - Customer	12 Months Ended
CONCENTRATION - Textuals (Details) - Customer	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2022
Customer One \| Sales Revenue, Net [Member]
Revenue, Major Customer [Line Items]
Percentage of concentration risk	19.20%	21.60%	23.90%
Customer One \| Accounts Receivable [Member]
Revenue, Major Customer [Line Items]
Percentage of concentration risk	21.40%	22.90%
Customer Two \| Sales Revenue, Net [Member]
Revenue, Major Customer [Line Items]
Percentage of concentration risk	13.60%	15.40%	14.80%
Customer Two \| Accounts Receivable [Member]
Revenue, Major Customer [Line Items]
Percentage of concentration risk	13.30%	13.20%
Customer Three \| Sales Revenue, Net [Member]
Revenue, Major Customer [Line Items]
Percentage of concentration risk	10.10%		12.70%
Customer Three \| Accounts Receivable [Member]
Revenue, Major Customer [Line Items]
Percentage of concentration risk	12.20%	12.30%
Customer Four \| Accounts Receivable [Member]
Revenue, Major Customer [Line Items]
Percentage of concentration risk		11.50%

LEASES

12 Months Ended

Jan. 31, 2024

LEASES [Abstract]

LEASES

NOTE 6 — LEASES

The Company accounts for its leases in accordance with ASC 842. The Company elected the short-term lease exception policy, permitting it to not apply the recognition requirements of this standard to short-term leases (i.e. leases with terms of 12 months or less) and an accounting policy to account for lease and non-lease components as a single component.

The Company determines whether an arrangement is, or contains, a lease at contract inception. The Company leases certain retail stores, warehouses, distribution centers, office space and equipment. Leases with an initial term of 12 months or less are not recorded on the balance sheet. The Company recognizes lease expense for these leases on a straight-line basis over the lease term.

Total rent payable is recorded during the lease term, including rent escalations in which the amount of future rent is certain or fixed on the straight-line basis over the term of the lease (including any rent holiday periods beginning upon control of the premises and any fixed payments stated in the lease). For leases with an initial term greater than 12 months, a lease liability is recorded on the balance sheet at the present value of future payments discounted at the incremental borrowing rate (discount rate) corresponding with the lease term. An operating lease asset is recorded based on the initial amount of the lease liability, plus any lease payments made to the lessor before or at the lease commencement date and any initial direct costs incurred, less any tenant improvement allowance incentives received or payable at commencement. The difference between the minimum rents paid and the straight-line rent (deferred rent) is reflected within the associated operating lease asset.

The lease classification evaluation begins at the commencement date. The lease term used in the evaluation includes the non-cancellable period for which the Company has the right to use the underlying asset, together with renewal option periods when the exercise of the renewal option is reasonably certain or the failure to exercise such option would result in an economic penalty. All retail store, warehouse, distribution center and office leases are classified as operating leases. The Company does not have any finance leases. Operating lease expense is generally recognized on a straight-line basis over the lease term.

Most leases are for a term of one to ten years. Some leases include one or more options to renew, with renewal terms that can extend the lease term from one to ten years. Several of the Company’s retail store leases include an option to terminate the lease based on failure to achieve a specified sales volume. The exercise of lease renewal options is generally at the Company’s sole discretion. The exercise of lease termination options is generally by mutual agreement between the Company and the lessor.

Certain of the Company’s lease agreements include contingent rental payments based on a percentage of retail sales over contractual levels and others include rental payments adjusted periodically for inflation. Contingent rent is accrued each period as the liabilities are incurred. The Company’s leases do not contain any material residual value guarantees or material restrictive covenants.

The Company’s lease assets and liabilities as of January 31, 2024 and 2023 consist of the following:


Leases	Classification	January 31, 2024		January 31, 2023

		(In thousands)
Assets
Operating	Operating lease assets	$	216,886	$	239,665
Total lease assets		$	216,886	$	239,665

Liabilities
Current operating	Current operating lease liabilities	$	56,587	$	52,917
Noncurrent operating	Noncurrent operating lease liabilities		178,247		204,974
Total lease liabilities		$	234,834	$	257,891

During fiscal 2024, the Company recorded a $0.3 million impairment charge related to the operating lease assets at certain DKNY, Karl Lagerfeld and Vilebrequin stores as a result of the performance at these stores. During fiscal 2023, the Company recorded a $0.7 million impairment charge related to the operating lease assets at certain DKNY stores as a result of the performance at these stores. During fiscal 2022, the Company recorded a $0.2 million impairment charge related to the operating lease assets at certain Vilebrequin and DKNY stores as a result of the performance at these stores. The Company determines the fair value of operating lease assets by discounting the estimated market rental rates over the remaining term of the lease.

The Company’s leases do not provide the rate of interest implicit in the lease. Therefore, the Company uses its incremental borrowing rate based on the information available at commencement date of each lease in determining the present value of lease payments.

The Company recorded lease costs of $73.5 million, $64.9 million and $55.7 million during the years ended January 31, 2024, 2023 and 2022, respectively. Lease costs are recorded within selling, general and administrative expenses in the Company’s consolidated statements of operations and comprehensive income (loss). The Company recorded variable lease costs and short-term lease costs of $24.1 million, $17.1 million and $10.5 million for the years ended January 31, 2024, 2023 and 2022, respectively. Short-term lease costs are immaterial.

As of January 31, 2024, the Company’s maturity of operating lease liabilities in the years ending up to January 31, 2029 and thereafter are as follows:


Year Ending January 31,	Amount
	(In thousands)
2025	$	73,297
2026		61,150
2027		48,552
2028		39,004
2029		26,150
After 2029		40,171
Total lease payments	$	288,324
Less: Interest		53,490
Present value of lease liabilities	$	234,834

As of January 31, 2024, there are no material leases that are legally binding but have not yet commenced.

As of January 31, 2024, the weighted average remaining lease term related to operating leases is 5.0 years. The weighted average discount rate related to operating leases is 6.8%.

Cash paid for amounts included in the measurement of operating lease liabilities is $76.7 million and $69.8 million as of January 31, 2024 and 2023, respectively. Right-of-use assets obtained in exchange for lease obligations were $35.0 million and $126.8 million during the years ended January 31, 2024 and 2023, respectively.

INTANGIBLE ASSETS - Intangible assets (Details) - USD ($) $ in Thousands	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2022
Goodwill And Intangible Assets [Line Items]
Subtotal	$ 81,240	$ 79,930
Accumulated amortization	(49,564)	(45,088)
Total finite-lived intangible assets	31,676	34,842
Indefinite-lived intangible assets
Goodwill	0	0	$ 262,527
Trademarks	630,333	628,156
Total indefinite-lived intangible assets	630,333	628,156
Total intangible assets, net	662,009	662,998
Trademarks
Indefinite-lived intangible assets
Trademarks	$ 630,333	628,156
Minimum
Indefinite-lived intangible assets
Estimated Life	5 years
Maximum
Indefinite-lived intangible assets
Estimated Life	17 years
License Agreements
Goodwill And Intangible Assets [Line Items]
Subtotal	$ 19,152	18,955
Accumulated amortization	(17,930)	(17,314)
Total finite-lived intangible assets	$ 1,222	$ 1,641
Indefinite-lived intangible assets
Estimated Life	14 years	14 years
Customer Relationships
Goodwill And Intangible Assets [Line Items]
Subtotal	$ 52,592	$ 52,392
Accumulated amortization	(25,903)	(22,931)
Total finite-lived intangible assets	$ 26,689	$ 29,461
Customer Relationships \| Minimum
Indefinite-lived intangible assets
Estimated Life	15 years	15 years
Customer Relationships \| Maximum
Indefinite-lived intangible assets
Estimated Life	17 years	17 years
Other
Goodwill And Intangible Assets [Line Items]
Subtotal	$ 9,496	$ 8,583
Accumulated amortization	(5,731)	(4,843)
Total finite-lived intangible assets	$ 3,765	$ 3,740
Other \| Minimum
Indefinite-lived intangible assets
Estimated Life	5 years	5 years
Other \| Maximum
Indefinite-lived intangible assets
Estimated Life	10 years	10 years

COMMITMENTS AND CONTINGENCIES - Future Minimum Royalty and Advertising Payments (Details) - Royalty and Advertising Payments $ in Thousands	Jan. 31, 2024 USD ($)
Licenses Agreements [Line Items]
2025	$ 108,615
2026	91,259
2027	58,111
2028	36,779
2029	11,254
Thereafter	2,308
Future minimum royalty and advertising payments, total	$ 308,326

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 176,168	$ (133,061)	$ 200,593

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Jan. 31, 2024

COMMITMENTS AND CONTINGENCIES [Abstract]

COMMITMENTS AND CONTINGENCIES

NOTE 10 — COMMITMENTS AND CONTINGENCIES

License Agreements

The Company has entered into license agreements that provide for royalty payments based on net sales of licensed products. The Company incurred royalty expense (included in cost of goods sold) of $154.2 million, $162.9 million and $145.1 million for the years ended January 31, 2024, 2023 and 2022, respectively. Contractual advertising expense, which is included in selling, general and administrative expenses and is normally based on a percentage of net sales associated with certain license agreements, was $36.7 million, $45.2 million and $41.2 million for the years ended January 31, 2024,

2023 and 2022, respectively. Based on minimum net sales requirements, future minimum royalty and advertising payments required under these agreements are:


Year Ending January 31,	Amount
	(In thousands)
2025		108,615
2026		91,259
2027		58,111
2028		36,779
2029		11,254
Thereafter		2,308
	$	308,326

Legal Proceedings

In the ordinary course of business, the Company is subject to periodic claims, investigations and lawsuits. Although the Company cannot predict with certainty the ultimate resolution of claims, investigations and lawsuits, asserted against the Company, it does not believe that any currently pending legal proceeding or proceedings to which it is a party could have a material adverse effect on its business, financial condition or results of operations.

Canadian Customs Duty Examination

In accordance with a favorable ruling by the Canadian International Trade Tribunal, in fiscal 2023 and fiscal 2024, G-III Canada received refunds from the Canada Border Service Agency (“CBSA”) in the aggregate amount of CAD$6.5 million ($4.8 million), including interest and net of a dutiable design assist, for amounts paid by G-III Canada to the CBSA between February 1, 2014 and January 31, 2018. G-III Canada has filed adjustment requests with the CBSA for the period from February 1, 2018 to January 31, 2022 to amend declared dutiable values. These amendments resulted in an additional refund of duty and interest, net of refunds already received, from the CBSA of approximately CAD$8.2 million ($6.1 million) plus related interest. G-III Canada received the remaining refund due from the CBSA in February 2024. These amounts are recorded within prepaid expenses and other current assets in the consolidated balance sheets.

NOTES PAYABLE AND OTHER LIABILITIES - Textuals (Details) $ in Thousands, € in Millions, SFr in Millions				1 Months Ended	9 Months Ended	12 Months Ended		42 Months Ended
	Dec. 01, 2023 USD ($)	Jun. 01, 2023 USD ($)	Aug. 06, 2020 USD ($)	Aug. 31, 2020 USD ($)	Jan. 31, 2024 USD ($)	Jan. 31, 2024 USD ($)	Jan. 31, 2024 EUR (€)	Jan. 31, 2024 USD ($)	Jan. 31, 2024 EUR (€)	Jan. 31, 2023 USD ($)	Jan. 31, 2023 EUR (€)	Jan. 31, 2023 CHF (SFr)	Aug. 07, 2020 USD ($)
Debt Instrument [Line Items]
Repayment of principle amount	$ 50,000	$ 75,000				$ 125,000
Outstanding amount					$ 402,807	$ 402,807		$ 402,807		$ 483,840
Unamortized debt issuance costs			$ 3,300
Interest expense			$ 400
Secured Overnight Financing Rate SOFR Overnight Index Swap Rate One-Month Interest Period [Member]
Debt Instrument [Line Items]
Variable rate spread					1.00%
Term Loan [Member]
Debt Instrument [Line Items]
Repayment of principle amount				$ 300,000
Long-term Debt
Debt Instrument [Line Items]
Debt discount										3,798
Secured notes
Debt Instrument [Line Items]
Interest rate						7.875%	7.875%
Interest rate terms						The Notes bear interest at a rate of 7.875% per year payable semi-annually in arrears on February 15 and August 15 of each year.	The Notes bear interest at a rate of 7.875% per year payable semi-annually in arrears on February 15 and August 15 of each year.
Debt instrument interest rate													7.875%
Frequency of periodic payment						semi-annually	semi-annually
Principal amount of debt													$ 400,000
Debt issuance costs					$ 8,500	$ 8,500		$ 8,500
Secured notes \| If Company experiences a Change of Control [Member]
Debt Instrument [Line Items]
Redemption percentage								101.00%
Revolving credit facility
Debt Instrument [Line Items]
Debt issuance costs					$ 2,400	$ 2,400		$ 2,400		$ 4,000
LVMH Note
Debt Instrument [Line Items]
Debt instrument interest rate					2.00%	2.00%		2.00%	2.00%
Principal amount of debt					$ 125,000	$ 125,000		$ 125,000
Debt discount					40,000	$ 40,000		40,000
LVMH Note \| Notes Payable Due On June 1 2023
Debt Instrument [Line Items]
Repayment of principle amount		$ 75,000
Maturity date						Jun. 01, 2023	Jun. 01, 2023
LVMH Note \| Notes Payable due on December 1, 2023
Debt Instrument [Line Items]
Repayment of principle amount	$ 50,000
Maturity date						Dec. 01, 2023	Dec. 01, 2023
Unsecured Loan
Debt Instrument [Line Items]
Outstanding amount					8,800	$ 8,800		8,800	€ 8.0
Installment payments \| €							€ 0.6
Overdraft facility
Debt Instrument [Line Items]
Principal amount of debt											€ 5.0	SFr 4.7
Fixed rate										1.75%	1.75%	1.75%
Debt facility amount					2,700	2,700		2,700	2.4
Standby Letters of Credit
Debt Instrument [Line Items]
Borrowings outstanding					2,900	2,900		2,900
Foreign credit facility
Debt Instrument [Line Items]
Maximum borrowing amount \| €									15.0
Borrowings outstanding					8,900	$ 8,900		8,900	€ 8.1
Foreign credit facility \| Euro Interbank Offered Rate [Member]
Debt Instrument [Line Items]
Variable rate spread						1.70%	1.70%
Trade
Debt Instrument [Line Items]
Borrowings outstanding					$ 4,000	$ 4,000		$ 4,000
Minimum \| Unsecured Loan
Debt Instrument [Line Items]
Fixed rate					0.00%	0.00%		0.00%	0.00%
Minimum \| Overdraft facility
Debt Instrument [Line Items]
Variable interest rate										0.00%	0.00%	0.00%
Maximum \| Unsecured Loan
Debt Instrument [Line Items]
Fixed rate					5.00%	5.00%		5.00%	5.00%
Maximum \| Overdraft facility
Debt Instrument [Line Items]
Variable interest rate										0.50%	0.50%	0.50%

INCOME TAXES - Summary of Significant Components of Net Deferred Tax Assets (Details) - USD ($) $ in Thousands	Jan. 31, 2024	Jan. 31, 2023
Deferred income tax assets:
Compensation	$ 3,444	$ 879
Inventory	13,756	12,197
Provision for bad debts and sales allowances	11,918	15,237
Supplemental employee retirement plan	792	688
Net operating loss	40,183	33,749
Operating lease liability	52,341	56,519
Foreign tax credit carryforward	5,594	3,865
Section 174 R&D amortization	1,016	478
Other	4,919
Gross deferred income tax assets	133,963	123,612
Less: valuation allowance	(39,140)	(33,087)
Net deferred income tax assets	94,823	90,525
Deferred income tax liabilities:
Depreciation and amortization	(15,821)	(6,268)
Intangibles	(51,071)	(48,760)
Operating lease asset	(46,546)	(50,995)
Accrued expenses		(57)
Prepaid expenses and other	(2,149)	(2,279)
Other	(2,724)	(560)
Total deferred income tax liabilities	(118,311)	(108,919)
Net deferred tax liabilities	$ (23,488)	$ (18,394)

SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Jan. 31, 2024

SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Schedule of reconciliation between basic and diluted net income per share

The following table reconciles the numerators and denominators used in the calculation of basic and diluted net income (loss) per share:


	Year Ended January 31,
	2024		2023		2022

	(In thousands, except share and per share amounts)
Net income (loss) attributable to G-III Apparel Group, Ltd.	$	176,168	$	(133,061)	$	200,593
Basic net income (loss) per share:
Basic common shares		45,859		47,653		48,426
Basic net income (loss) per share	$	3.84	$	(2.79)	$	4.14

Diluted net income (loss) per share:
Basic common shares		45,859		47,653		48,426
Dilutive restricted stock unit awards and stock options		1,141		—		1,090
Diluted common shares		47,000		47,653		49,516
Diluted net income (loss) per share	$	3.75	$	(2.79)	$	4.05

Schedule of carrying values and estimated fair values of debt instruments

The following table summarizes the carrying values and the estimated fair values of the Company’s debt instruments:



		Carrying Value				Fair Value
		January 31,		January 31,		January 31,		January 31,
Financial Instrument	Level	2024		2023		2024		2023

		(In thousands)
Secured Notes	1	$	400,000	$	400,000	$	401,080	$	380,000
Revolving credit facility	2		—		80,087		—		80,087
Note issued to LVMH	3		—		121,202		—		119,426
Unsecured loans	2		8,791		10,866		8,791		10,866
Overdraft facilities	2		2,651		3,657		2,651		3,657
Foreign credit facility	2		8,939		7,792		8,939		7,792

KARL LAGERFELD ACQUISITION - Textual (Detail) $ in Thousands, € in Millions			3 Months Ended	12 Months Ended
	May 31, 2022 USD ($)	May 31, 2022 EUR (€)	Jan. 31, 2023 USD ($)	Jan. 31, 2024 USD ($)	Jan. 31, 2023 USD ($)	May 30, 2022	Jan. 31, 2022 USD ($)	Feb. 29, 2016	Jun. 30, 2015
Business Acquisition [Line Items]
Recorded gain					$ 27,071
Goodwill impairment			$ 347,200	$ 5,900	347,172
Goodwill			0	$ 0	0		$ 262,527
Karl Lagerfeld Holding B.V. ("KLH")
Business Acquisition [Line Items]
Ownership percent						19.00%		19.00%
Goodwill impairment					84,300
KLNA
Business Acquisition [Line Items]
Ownership percent	49.00%
KL North America B.V. [Member]
Business Acquisition [Line Items]
Ownership percent						49.00%			49.00%
Karl Lagerfeld Holding B.V.
Business Acquisition [Line Items]
Remaining percentage of interest	81.00%
Initial Purchase Price	$ 207,607
Business combination, consideration transferred \| €		€ 193.4
Recorded gain	27,100
Adjustment to assets in acquisition					36,900
Adjustment to liabilities in acquisition					36,900
Goodwill	$ 84,336		$ 84,300		$ 84,300
Estimated Life				15 years
Karl Lagerfeld Holding B.V. \| Karl Lagerfeld Holding B.V. ("KLH")
Business Acquisition [Line Items]
Ownership percent	19.00%
Karl Lagerfeld Holding B.V. \| Karl Lagerfeld Holding B.V. ("KLH")
Business Acquisition [Line Items]
Remaining percentage of interest	81.00%

SIGNIFICANT ACCOUNTING POLICIES - Textuals (Details) - USD ($) $ in Thousands			3 Months Ended	12 Months Ended
	Dec. 01, 2023	Jun. 01, 2023	Jan. 31, 2023	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2022	May 31, 2022	May 30, 2022	Feb. 01, 2021	Jan. 31, 2021	Feb. 29, 2016	Jun. 30, 2015
Accounting Policies [Line Items]
Cumulative effect of adoption of ASC			$ 1,385,448	$ 1,550,260	$ 1,385,448	$ 1,519,912				$ 1,336,241
Inventories			709,345	520,426	709,345
Goodwill impairment			347,200	$ 5,900	$ 347,172
Anti-dilutive shares excluded from diluted net income per share calculation				102,000		11,000
Common stock issued in connection with exercise or vesting of equity awards				0	0	0
Treasury shares re-issued in connection with the exercise or vesting of equity awards				610,631	387,792	194,965
Selling, general and administrative expenses				$ 924,223	$ 833,151	$ 648,015
Advertising expense				121,700	131,600	93,100
Prepaid advertising			$ 8,300	7,300	8,300
Repayment of principle amount	$ 50,000	$ 75,000		$ 125,000
Cumulative Effect, Period of Adoption, Adjustment
Accounting Policies [Line Items]
Cumulative effect of adoption of ASC									$ (300)
Inventories									$ (300)
Karl Lagerfeld Holding B.V.
Accounting Policies [Line Items]
Percentage acquired							81.00%
Intangible assets, estimated useful lives				15 years
Karl Lagerfeld Holding B.V. \| Karl Lagerfeld Holding B.V. ("KLH")
Accounting Policies [Line Items]
Percentage acquired							81.00%
Karl Lagerfeld Holding B.V. ("KLH")
Accounting Policies [Line Items]
Ownership percent								19.00%			19.00%
Goodwill impairment					84,300
Karl Lagerfeld Holding B.V. ("KLH") \| Karl Lagerfeld Holding B.V. ("KLH")
Accounting Policies [Line Items]
Ownership percent								51.00%
Karl Lagerfeld Holding B.V. ("KLH") \| Karl Lagerfeld Holding B.V.
Accounting Policies [Line Items]
Ownership percent							19.00%
KL North America B.V.
Accounting Policies [Line Items]
Ownership percent								49.00%				49.00%
Fabco Holding B.V.
Accounting Policies [Line Items]
Ownership percent				75.00%
Wholesale shipping and handling costs
Accounting Policies [Line Items]
Selling, general and administrative expenses				$ 175,600	187,600	130,200
Restricted Stock Units
Accounting Policies [Line Items]
Vesting and exercise period of awards				3 years
Performance Shares
Accounting Policies [Line Items]
Vesting and exercise period of awards				3 years
Lock up period after vesting				2 years
Minimum
Accounting Policies [Line Items]
Intangible assets, estimated useful lives				5 years
Minimum \| Performance Shares
Accounting Policies [Line Items]
Vesting and exercise period of awards				2 years
Maximum
Accounting Policies [Line Items]
Intangible assets, estimated useful lives				17 years
Maximum \| Performance Shares
Accounting Policies [Line Items]
Vesting and exercise period of awards				5 years
Wholesale operations
Accounting Policies [Line Items]
Goodwill impairment					347,172
Retail
Accounting Policies [Line Items]
Goodwill impairment
DKNY, Karl Lagerfeld Paris and Vilebrequin stores \| Furniture and fixtures
Accounting Policies [Line Items]
Impairment charge on leasehold improvements				$ 1,300	$ 2,700	$ 1,500

KARL LAGERFELD ACQUISITION (Fair Value of Assets Acquired) (Details) - USD ($) $ in Thousands	Jan. 31, 2024	Jan. 31, 2023	May 31, 2022	Jan. 31, 2022
Business Acquisition [Line Items]
Goodwill	$ 0	$ 0		$ 262,527
Karl Lagerfeld Holding B.V.
Business Acquisition [Line Items]
Cash and cash equivalents			$ 38,499
Accounts receivable, net			28,449
Inventories			33,489
Prepaid income taxes			1,100
Prepaid expenses and other current assets			3,347
Property, plant and equipment, net			11,545
Operating lease assets			55,753
Goodwill		$ 84,300	84,336
Deferred income taxes			5,131
Other long-term assets			2,237
Total assets acquired			447,003
Notes payable			3,606
Accounts payable			9,175
Accrued Expense			15,261
Operating lease liabilities			58,942
Income taxes payable			2,099
Deferred income taxes.			42,222
Other long-term liabilities			5,233
Total liabilities assumed			136,538
Total fair value of acquisition consideration			310,465
Karl Lagerfeld Holding B.V. \| Trade Names [Member]
Business Acquisition [Line Items]
Intangible assets			178,823
Karl Lagerfeld Holding B.V. \| Customer Relationships
Business Acquisition [Line Items]
Intangible assets			$ 4,294

INTANGIBLE ASSETS

12 Months Ended

Jan. 31, 2024

INTANGIBLE ASSETS [Abstract]

INTANGIBLE ASSETS

NOTE 7 — INTANGIBLE ASSETS

Intangible assets consist of:



January 31, 2024	Estimated Life	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount

		(In thousands)
Finite-lived intangible assets
Licenses	14 years	$	19,152	$	(17,930)	$	1,222
Customer relationships	15-17 years		52,592		(25,903)		26,689
Other	5-10 years		9,496		(5,731)		3,765
Total finite-lived intangible assets		$	81,240	$	(49,564)	$	31,676
Indefinite-lived intangible assets
Trademarks							630,333
Total indefinite-lived intangible assets							630,333
Total intangible assets, net						$	662,009



January 31, 2023	Estimated Life	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount

		(In thousands)
Finite-lived intangible assets
Licenses	14 years	$	18,955	$	(17,314)	$	1,641
Customer relationships	15-17 years		52,392		(22,931)		29,461
Other	5-10 years		8,583		(4,843)		3,740
Total finite-lived intangible assets		$	79,930	$	(45,088)	$	34,842
Indefinite-lived intangible assets
Trademarks							628,156
Total indefinite-lived intangible assets							628,156
Total intangible assets, net						$	662,998

Amortization expense

Amortization expense with respect to finite-lived intangibles amounted to $5.4 million, $3.9 million and $3.7 million for the years ended January 31, 2024, 2023 and 2022, respectively.

The estimated amortization expense with respect to intangibles for the next five years is as follows:


Year Ending January 31,	Amortization Expense
	(In thousands)
2025	$	5,106
2026		3,984
2027		3,578
2028		3,264
2029		3,274

Intangible assets with finite lives are amortized over their estimated useful lives and measured for impairment when events or circumstances indicate that the carrying value may be impaired.

Change in Goodwill


	Wholesale		Retail		Total
January 31, 2022	$	262,527	$	—	$	262,527
Acquisition of Karl Lagerfeld		84,336		—		84,336
Acquisition of other foreign business		3,523		—		3,523
Impairment		(347,172)		—		(347,172)
Currency translation		(3,214)		—		(3,214)
January 31, 2023	$	—	$	—	$	—

Impairment

Goodwill represents the excess of the purchase price and related costs over the value assigned to net tangible and identifiable intangible assets of businesses acquired and accounted for under the purchase method. The Company reviews and tests its goodwill and intangible assets with indefinite lives for impairment at least annually, or more frequently if events or changes in circumstances indicate that the carrying amount of such assets may be impaired. The Company performs its goodwill test as of January 31 of each year, if applicable, using a qualitative evaluation or a quantitative test using an income approach through a discounted cash flow analysis methodology. The discounted cash flow approach requires that certain assumptions and estimates be made regarding industry economic factors and future profitability. The Company also performs its annual test for intangible assets with indefinite lives as of January 31 of each year using a qualitative evaluation or a quantitative test using a relief from royalty method, another form of the income approach. The relief from royalty method requires assumptions regarding industry economic factors and future profitability.

The carrying value of the Company’s goodwill was fully impaired in fiscal 2023 as a result of our annual impairment test. There was no new goodwill recognized in fiscal 2024.

Fiscal 2023 Annual Goodwill Impairment Test

The Company performed its annual test of its wholesale reporting unit as of January 31, 2023 by electing to bypass the qualitative assessment and proceed directly to the quantitative impairment test using a discounted cash flows method to estimate the fair value of its wholesale reporting unit. The Company made this election due to its decline in market capitalization.

The fair value of the wholesale reporting unit for goodwill impairment testing was determined using an income approach and validated using a market approach. The income approach was based on discounted projected future (debt-free) cash flows for the reporting unit. The discount rate applied to these cash flows was based on the weighted average cost of capital for the wholesale reporting unit, which takes market participant assumptions into consideration, inclusive of a Company-specific 7.5% risk premium to account for the additional risk of uncertainly perceived by market participants related to the Company’s overall cash flows. Estimated future operating cash flows were discounted at a rate of 17.5% to account for the relative risks of the estimated future cash flows. For the market approach, used to validate the results of the income approach method, the Company used the guideline company method, which analyzes market multiples of adjusted earnings before interest, taxes, depreciation and amortization for a group of comparable public companies.

As a result of the Company’s fiscal 2023 annual impairment test, the Company recorded a $347.2 million non-cash impairment charge during its fourth quarter of fiscal 2023 to fully impair the carrying value of its goodwill, which was included in assets impairments in the Company’s consolidated statements of operations and comprehensive income (loss). This impairment charge was recorded to the Company’s wholesale operations segment.

Fiscal 2022 Annual Goodwill Impairment Test

The Company performed its annual test of its wholesale reporting unit using a qualitative review as of January 31, 2022 and determined that no impairment existed at that date. The result of the Company’s annual test determined that the estimated fair value of its wholesale reporting unit was substantially in excess of its carrying value.

Fiscal 2024 Annual Indefinite-Lived Intangible Assets Impairment Test

The Company performed its annual test of its indefinite-lived trademarks as of January 31, 2024 using a qualitative evaluation or a quantitative impairment test using a relief from royalty method, another form of the income approach. The relief from royalty method requires assumptions regarding industry economic factors and future profitability. The Company’s fiscal 2024 testing determined that the fair value of each of its indefinite-lived intangible assets substantially exceeded its carrying value except for its Sonia Rykiel trademark. As a result of the fiscal 2024 annual impairment test, the Company recorded a $5.9 million non-cash impairment charge during its fourth quarter of fiscal 2024 to partially impair the carrying value of its Sonia Rykiel trademark, which was included in asset impairments in the Company’s consolidated statements of operations and comprehensive income (loss). This impairment charge was recorded to the Company’s wholesale operations segment.

Fiscal 2023 Annual Indefinite-Lived Intangible Assets Impairment Test

The Company performed its annual test of its indefinite-lived trademarks as of January 31, 2023 using a qualitative evaluation or a quantitative impairment test using a relief from royalty method, another form of the income approach. The relief from royalty method requires assumptions regarding industry economic factors and future profitability. The Company determined that the fair values of each of its indefinite-lived intangible assets substantially exceeded its carrying value and, therefore, there were no impairments identified as of January 31, 2023 as a result of these tests.

Fiscal 2022 Annual Indefinite-Lived Intangible Assets Impairment Test

The Company performed its annual test of its indefinite-lived trademarks using a qualitative review as of January 31, 2022 and determined that no impairment existed at that date. The result of the Company’s annual test determined that the estimated fair value of its indefinite-lived trademarks were substantially in excess of their carrying values.

The Company’s indefinite-lived trademark balance is primarily composed of the Donna Karan/DKNY trademarks that were acquired in fiscal 2017 and the Karl Lagerfeld trademark that was acquired in fiscal 2023.

The fair value of the Company’s goodwill and indefinite-lived intangible assets are considered a Level 3 valuation in the fair value hierarchy.

NOTES PAYABLE AND OTHER LIABILITIES

12 Months Ended

Jan. 31, 2024

NOTES PAYABLE AND OTHER LIABILITIES [Abstract]

NOTES PAYABLE AND OTHER LIABILITIES

NOTE 8 — NOTES PAYABLE AND OTHER LIABILITIES

Long-term debt

Long-term debt consists of the following:


	January 31, 2024		January 31, 2023

	(in thousands)
Secured Notes	$	400,000	$	400,000
Revolving credit facility		—		80,087
Note issued to LVMH		—		125,000
Unsecured loans		8,791		10,866
Overdraft facilities		2,651		3,657
Foreign credit facility		8,939		7,792
Subtotal		420,381		627,402
Less: Net debt issuance costs ⁽¹⁾		(2,548)		(4,246)
Debt discount		—		(3,798)
Current portion of long-term debt		(15,026)		(135,518)
Total	$	402,807	$	483,840

(1)

Senior Secured Notes

In August 2020, the Company completed a private debt offering of $400 million aggregate principal amount of its 7.875% Senior Secured Notes due August 2025 (the “Notes”). The terms of the Notes are governed by an indenture (the “Indenture”), among the Company, the guarantors party thereto and U.S. Bank, National Association, as trustee and collateral agent (the “Collateral Agent”). The net proceeds of the Notes were used (i) to repay the $300 million that was outstanding under the Company’s prior term loan facility due 2022 (the “Term Loan”), (ii) to pay related fees and expenses and (iii) for general corporate purposes.

The Notes bear interest at a rate of 7.875% per year payable semi-annually in arrears on February 15 and August 15 of each year.

The Notes are unconditionally guaranteed on a senior-priority secured basis by the Company’s current and future wholly-owned domestic subsidiaries that guarantee any of the Company’s credit facilities, including the Company’s ABL facility (the “ABL Facility”) pursuant to the ABL Credit Agreement, or certain future capital markets indebtedness of the Company or the guarantors.

The Notes and the related guarantees are secured by (i) first priority liens on the Company’s Cash Flow Priority Collateral (as defined in the Indenture), and (ii) a second-priority lien on the Company’s ABL Priority Collateral (as defined in the Indenture), in each case subject to permitted liens described in the Indenture.

In connection with the issuance of the Notes and execution of the Indenture, the Company and the Guarantors entered into a pledge and security agreement (the “Pledge and Security Agreement”), among the Company, the Guarantors and the Collateral Agent.

The Notes are subject to the terms of the intercreditor agreement which governs the relative rights of the secured parties in respect of the ABL Facility and the Notes (the “Intercreditor Agreement”). The Intercreditor Agreement restricts the actions permitted to be taken by the Collateral Agent with respect to the Collateral on behalf of the holders of the Notes.

The Company may redeem some or all of the Notes at any time and from time to time at the redemption prices set forth in the Indenture, plus accrued and unpaid interest, if any, to, but excluding, the applicable redemption date.

If the Company experiences a Change of Control (as defined in the Indenture), the Company is required to offer to repurchase the Notes at 101% of the principal amount of such Notes plus accrued and unpaid interest, if any, to, but excluding, the date of repurchase.

The Indenture contains covenants that, among other things, limit the Company’s ability and the ability of its restricted subsidiaries to incur or guarantee additional indebtedness, pay dividends or make other restricted payments, make certain investments, incur restrictions on the ability of the Company’s restricted subsidiaries that are not guarantors to pay dividends or make certain other payments, create or incur certain liens, sell assets and subsidiary stock, impair the security interests, transfer all or substantially all of the Company’s assets or enter into merger or consolidation transactions, and enter into transactions with affiliates. The Indenture provides for customary events of default which include (subject in certain cases to customary grace and cure periods), among others, nonpayment of principal or interest, breach of other agreements in the Indenture, failure to pay certain other indebtedness, failure of certain guarantees to be enforceable, failure to perfect certain collateral securing the Notes, failure to pay certain final judgments, and certain events of bankruptcy or insolvency.

The Company incurred debt issuance costs totaling $8.5 million related to the Notes. In accordance with ASC 835, the debt issuance costs have been deferred and are presented as a contra-liability, offsetting the outstanding balance of the Notes, and are amortized over the remaining life of the Notes.

Second Amended and Restated ABL Credit Agreement

In August 2020, the Company’s subsidiaries, G-III Leather Fashions, Inc., Riviera Sun, Inc., CK Outerwear, LLC, AM Retail Group, Inc. and The Donna Karan Company Store LLC (collectively, the “Borrowers”), entered into the second amended and restated credit agreement (the “ABL Credit Agreement”) with the Lenders named therein and with JPMorgan Chase Bank, N.A., as Administrative Agent. The ABL Credit Agreement is a five year senior secured credit facility subject to a springing maturity date if, subject to certain conditions, the Notes are not refinanced or repaid prior to the date that is 91 days prior to the date of any relevant payment thereunder. The ABL Credit Agreement provides for borrowings in the aggregate principal amount of up to $650 million. The Company and certain of its subsidiaries (the “Guarantors”), are Loan Guarantors under the ABL Credit Agreement.

The ABL Credit Agreement refinanced, amended and restated the Amended Credit Agreement, dated as of December 1, 2016 (as amended, supplemented or otherwise modified from time to time prior to August 7, 2020, the “Prior Credit Agreement”). The Prior Credit Agreement provided for borrowings of up to $650 million and was due to expire in December 2021. The ABL Credit Agreement extended the maturity date to August 2025, subject to a springing maturity date if, subject to certain conditions, the Notes are not refinanced or repaid prior to the date that is 91 days prior to the date of any relevant payment thereunder.

Amounts available under the ABL Credit Agreement are subject to borrowing base formulas and overadvances as specified in the ABL Credit Agreement. Borrowings originally bore interest, at the Borrowers’ option, at LIBOR plus a margin of 1.75% to 2.25% or an alternate base rate margin of 0.75% to 1.25% (defined as the greatest of (i) the “prime rate” of JPMorgan Chase Bank, N.A. from time to time, (ii) the federal funds rate plus 0.5% and (iii) the LIBOR rate for a borrowing with an interest period of one month) plus 1.00%, with the applicable margin determined based on Borrowers’ availability under the ABL Credit Agreement. In April 2023, the Company amended the ABL Credit Agreement to replace

LIBOR with the Adjusted Term Secured Overnight Financing Rate (“SOFR”) as a successor rate. All other material terms and conditions of the ABL Credit Agreement were unchanged. Borrowings under the amended ABL Credit Agreement now bear interest, at the Borrower’s option, at the alternate base rate (defined as, for a given day, the greatest of (i) the “prime rate” in effect on such day, (ii) the NYFRB Rate (as defined in the amendment) in effect on such day plus 0.5% and (iii) the Adjusted Term SOFR (defined as an interest rate per annum equal to the Term SOFR for such interest period plus 0.10%) for a one-month interest period as published two business days prior to such day plus 1%) plus an applicable spread or the Adjusted Term SOFR Rate plus an applicable spread. The Company applied certain provisions and practical expedients of ASC 848 – Reference Rate Reform related to the transition from LIBOR to SOFR. As of January 31, 2024, interest under the ABL Credit Agreement was being paid at an average rate of 6.62% per annum.

The ABL Credit Agreement is secured by specified assets of the Borrowers and the Guarantors. In addition to paying interest on any outstanding borrowings under the ABL Credit Agreement, the Company is required to pay a commitment fee to the lenders under the credit agreement with respect to the unutilized commitments. The commitment fee accrues at a tiered rate equal to 0.50% per annum on the average daily amount of the available commitments when the average usage is less than 50% of the total available commitments and decreases to 0.35% per annum on the average daily amount of the available commitments when the average usage is greater than or equal to 50% of the total available commitments.

The revolving credit facility contains covenants that, among other things, restrict the Company’s ability to, subject to specified exceptions, incur additional debt; incur liens; sell or dispose of certain assets; merge with other companies; liquidate or dissolve the Company; acquire other companies; make loans, advances, or guarantees; and make certain investments. In certain circumstances, the revolving credit facility also requires the Company to maintain a fixed charge coverage ratio, as defined in the agreement, not less than 1.00 to 1.00 for each period of twelve consecutive fiscal months of the Company. As of January 31, 2024, the Company was in compliance with these covenants.

As of January 31, 2024, the Company had no borrowings outstanding under the ABL Credit Agreement. The ABL credit agreement also includes amounts available for letters of credit. As of January 31, 2024, there were outstanding trade and standby letters of credit amounting to $4.0 million and $2.9 million, respectively.

At the date of the refinancing of the Prior Credit Agreement, the Company had $3.3 million of unamortized debt issuance costs remaining from the Prior Credit Agreement. The Company extinguished and charged to interest expense $0.4 million of the prior debt issuance costs and incurred new debt issuance costs totaling $5.1 million related to the ABL Credit Agreement. The Company has recorded $8.0 million of debt issuance costs related to the ABL Credit Agreement. As permitted under ASC 835, the debt issuance costs have been deferred and are presented as an asset which is amortized ratably over the term of the ABL Credit Agreement.

LVMH Note

As a portion of the consideration for the acquisition of DKNY and Donna Karan, the Company issued to LVMH a junior lien secured promissory note in the principal amount of $125.0 million that bore interest at the rate of 2% per year. $75.0 million of the principal amount of the LVMH Note was paid on June 1, 2023 and the remaining $50.0 million of such principal amount was paid on December 1, 2023.

ASC 820 requires the note to be recorded at fair value at issuance. As a result, the Company recorded a $40.0 million debt discount. This discount was amortized as interest expense using the effective interest method over the term of the LVMH Note.

Unsecured Loans

Several of the Company’s foreign entities borrow funds under various unsecured loans of which a portion is to provide funding for operations in the normal course of business while other loans are European state backed loans as part of

COVID-19 relief programs. In the aggregate, the Company is currently required to make quarterly installment payments of principal in the amount of €0.6 million under these loans. Interest on the outstanding principal amount of the unsecured loans accrues at a fixed rate equal to 0% to 5.0% per annum, payable on either a quarterly or monthly basis. As of January 31, 2024, the Company had an aggregate outstanding balance of €8.0 million ($8.8 million) under these unsecured loans.

Overdraft Facilities

During fiscal 2021, TRB entered into several overdraft facilities that allow for applicable bank accounts to be in a negative position up to a certain maximum overdraft. TRB entered into an uncommitted overdraft facility with HSBC Bank allowing for a maximum overdraft of €5 million. Interest on drawn balances accrues at a rate equal to the Euro Interbank Offered Rate plus a margin of 1.75% per annum, payable quarterly. The facility may be cancelled at any time by TRB or HSBC Bank. As part of a COVID-19 relief program, TRB and its subsidiaries have also entered into several state backed overdraft facilities with UBS Bank in Switzerland for an aggregate of CHF 4.7 million at varying interest rates of 0% to 0.5%. As of January 31, 2024, TRB had an aggregate of €2.4 million ($2.7 million) drawn under these various facilities.

Foreign Credit Facility

KLH has a credit agreement with ABN AMRO Bank N.V. with a credit limit of €15.0 million which is secured by specified assets of KLH. Borrowings bear interest at the Euro Interbank Offered Rate (“EURIBOR”) plus a margin of 1.7%. As of January 31, 2024, KLH had €8.1 million ($8.9 million) of borrowings outstanding under this credit facility.

Future Debt Maturities

As of January 31, 2024, the Company’s mandatory debt repayments mature in the years ending up to January 31, 2029 or thereafter.


Year Ending January 31,	Amount
	(In thousands)
2025	$	15,026
2026		402,385
2027		1,535
2028		730
2029 and thereafter		705

Accrued expenses

Accrued expenses consist of the following:


	January 31, 2024		January 31, 2023

	(in thousands)
Accrued bonuses	$	38,298	$	16,831
Other accrued expenses		102,237		98,755
Total	$	140,535	$	115,586

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

EQUITY INVESTMENT

12 Months Ended

Jan. 31, 2024

EQUITY INVESTMENT

EQUITY INVESTMENT

NOTE 16 — EQUITY INVESTMENTS

Investment in Karl Lagerfeld Holding B.V.

In February 2016, the Company acquired a 19% minority interest in KLH, the parent company of the group that holds the worldwide rights to the Karl Lagerfeld brand. The Company paid €32.5 million (equal to $35.4 million at the date of the transaction) for this interest. This investment was intended to expand the partnership between the Company and the owners of Karl Lagerfeld brand and extend their business development opportunities on a global scale. In May 2022, the Company acquired the remaining 81% interest in KLH that it did not previously own, and, as a result, KLH began being treated as a consolidated wholly-owned subsidiary. Prior to May 2022, the investment in KLH was accounted for under the equity method of accounting and was reflected in Investment in Unconsolidated Affiliates on the consolidated balance sheets at January 31, 2022.

Investment in KL North America

In June 2015, the Company entered into a joint venture agreement with Karl Lagerfeld Group BV (“KLBV”). The Company paid KLBV $25.0 million for a 49% ownership interest in KLNA. KLNA holds brand rights to all Karl Lagerfeld trademarks, including the Karl Lagerfeld Paris brand the Company currently uses, for all consumer products (except eyewear, fragrance, cosmetics, watches, jewelry, and hospitality services) and apparel in the United States, Canada and Mexico. In May 2022, KLNA became an indirect wholly-owned subsidiary of the Company as a result of the Company’s acquisition of the remaining 81% interest in KLH it did not previously own. Prior to May 2022, the investment in KLNA was accounted for under the equity method of accounting and was reflected in Investment in Unconsolidated Affiliates on the consolidated balance sheets at January 31, 2022.

LEASES - Lease cost (Details) - USD ($) $ in Millions	12 Months Ended
LEASES - Lease cost (Details) - USD ($) $ in Millions	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2022
Selling, general and administrative expenses
Lease, Cost [Abstract]
Lease costs	$ 73.5	$ 64.9	$ 55.7

INCOME TAXES - Textuals (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
INCOME TAXES - Textuals (Details) - USD ($) $ in Thousands	Jan. 31, 2023	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2022
Income Taxes [Line Items]
Undistributed earnings of foreign subsidiaries		$ 150,000
Effective tax rate		27.40%	2.70%	26.20%
Percentage change in effective tax rate from prior year			(2.70%)
Goodwill impairment	$ 347,200	$ 5,900	$ 347,172
Change in valuation allowance		6,000
State net operating loss carryforwards		3,900
Net operating loss carryforwards, indefinite		2,100
Foreign net operating loss carryforwards		36,300
Federal net operating loss carryforwards		5,600
Provisional charge related to the repatriation tax		0
Increase in the unrecognized tax position reserve		700
Unrecognized income tax benefits, lapses of statutes of limitations		2,100		$ 446
Excess Foreign Tax Credits
Income Taxes [Line Items]
Change in valuation allowance		1,700
Foreign Net Operating Losses
Income Taxes [Line Items]
Change in valuation allowance		6,700
Foreign Net Operating Losses Expected to be Utilized
Income Taxes [Line Items]
Change in valuation allowance		$ 2,400

SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Jan. 31, 2024

SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Business Activity and Principles of Consolidation

1. Business Activity and Principles of Consolidation

Cash Equivalents

2. Cash Equivalents

The Company considers all highly liquid investments purchased with a maturity of three months or less to be cash equivalents.

Revenue Recognition

3. Revenue Recognition

Both wholesale revenues and retail store revenues are shown net of returns, discounts and other allowances.

Licensing revenue is recognized at the higher of royalty earned or guaranteed minimum royalty.

Accounts Receivable

4. Accounts Receivable

Inventories

5. Inventories

Vilebrequin inventories are stated at the lower of cost (determined by the weighted average method) or net realizable value.

Goodwill and Other Intangibles

6. Goodwill and Other Intangibles

Leases

7. Leases

Depreciation and Amortization

8. Depreciation and Amortization

Impairment of Long-Lived Assets

9. Impairment of Long-Lived Assets

Income Taxes

10. Income Taxes

Net Income (Loss) Per Common Share

11. Net Income (Loss) Per Common Share

The following table reconciles the numerators and denominators used in the calculation of basic and diluted net income (loss) per share:


	Year Ended January 31,
	2024		2023		2022

	(In thousands, except share and per share amounts)
Net income (loss) attributable to G-III Apparel Group, Ltd.	$	176,168	$	(133,061)	$	200,593
Basic net income (loss) per share:
Basic common shares		45,859		47,653		48,426
Basic net income (loss) per share	$	3.84	$	(2.79)	$	4.14

Diluted net income (loss) per share:
Basic common shares		45,859		47,653		48,426
Dilutive restricted stock unit awards and stock options		1,141		—		1,090
Diluted common shares		47,000		47,653		49,516
Diluted net income (loss) per share	$	3.75	$	(2.79)	$	4.05

Equity Award Compensation

12. Equity Award Compensation

Cost of Goods Sold

13. Cost of Goods Sold

Shipping and Handling Costs

14. Shipping and Handling Costs

Advertising Costs

15. Advertising Costs

Use of Estimates

16. Use of Estimates

Fair Value of Financial Instruments

17. Fair Value of Financial Instruments

Level 1 — inputs to the valuation methodology based on quoted prices (unadjusted) for identical assets or liabilities in active markets.

Level 3 — inputs to the valuation methodology based on unobservable prices or valuation techniques that are significant to the fair value measurement.

The following table summarizes the carrying values and the estimated fair values of the Company’s debt instruments:



		Carrying Value				Fair Value
		January 31,		January 31,		January 31,		January 31,
Financial Instrument	Level	2024		2023		2024		2023

		(In thousands)
Secured Notes	1	$	400,000	$	400,000	$	401,080	$	380,000
Revolving credit facility	2		—		80,087		—		80,087
Note issued to LVMH	3		—		121,202		—		119,426
Unsecured loans	2		8,791		10,866		8,791		10,866
Overdraft facilities	2		2,651		3,657		2,651		3,657
Foreign credit facility	2		8,939		7,792		8,939		7,792

The fair value of the LVMH Note was considered a Level 3 valuation in the fair value hierarchy.

Non-Financial Assets and Liabilities

Foreign Currency Translation

18. Foreign Currency Translation

Effects of Recently Adopted and Issued Accounting Pronouncements

19. Effects of Recently Adopted and Issued Accounting Pronouncements

Recently Adopted Accounting Guidance

There was no new accounting guidance adopted during the year ended January 31, 2024.

Accounting Guidance Issued Being Evaluated for Adoption

ALLOWANCE FOR DOUBTFUL ACCOUNTS (Narrative) (Details)	12 Months Ended
ALLOWANCE FOR DOUBTFUL ACCOUNTS (Narrative) (Details)	Jan. 31, 2024 segment
ALLOWANCE FOR DOUBTFUL ACCOUNTS
Number of reportable segments	2

SEGMENTS (Tables)

12 Months Ended

Jan. 31, 2024

SEGMENTS [Abstract]

Schedule of information regarding reportable segments

The following segment information, in thousands, is presented for the fiscal years ended:


	January 31, 2024
	Wholesale		Retail		Elimination ⁽¹⁾		Total
Net sales	$	3,009,614	$	148,428	$	(59,800)	$	3,098,242
Cost of goods sold		1,839,183		77,012		(59,800)		1,856,395
Gross profit		1,170,431		71,416		—		1,241,847
Selling, general and administrative expenses		826,921		97,302		—		924,223
Depreciation and amortization		22,505		5,018		—		27,523
Asset impairments		7,140		(382)		—		6,758
Operating profit (loss)	$	313,865	$	(30,522)	$	—	$	283,343


	January 31, 2023
	Wholesale		Retail		Elimination ⁽¹⁾		Total
Net sales	$	3,160,025	$	137,231	$	(70,528)	$	3,226,728
Cost of goods sold		2,127,318		68,801		(70,528)		2,125,591
Gross profit		1,032,707		68,430		—		1,101,137
Selling, general and administrative expenses		736,820		96,331		—		833,151
Depreciation and amortization		23,980		3,782		—		27,762
Asset impairments		347,722		1,964		—		349,686
Operating profit (loss)	$	(75,815)	$	(33,647)	$	—	$	(109,462)


	January 31, 2022
	Wholesale		Retail		Elimination ⁽¹⁾		Total
Net sales	$	2,710,787	$	117,656	$	(61,905)	$	2,766,538
Cost of goods sold		1,782,533		57,721		(61,905)		1,778,349
Gross profit		928,254		59,935		—		988,189
Selling, general and administrative expenses		567,949		80,066		—		648,015
Depreciation and amortization		24,023		3,603		—		27,626
Asset impairments		368		1,087		—		1,455
Operating profit (loss)	$	335,914	$	(24,821)	$	—	$	311,093

(1)	Represents intersegment sales to the Company’s retail operations segment.

Schedule of total net sales by licensed and proprietary product sales

The total net sales by licensed and proprietary product sales for each of the Company’s reportable segments are as follows:


	January 31,
	2024		2023		2022

	(In thousands)
Licensed brands	$	1,653,259	$	1,891,522	$	1,820,491
Proprietary brands		1,356,355		1,268,503		890,296
Wholesale net sales⁽¹⁾	$	3,009,614	$	3,160,025	$	2,710,787

Licensed brands	$	—	$	—	$	39,604
Proprietary brands		148,428		137,231		78,052
Retail net sales	$	148,428	$	137,231	$	117,656

(1)

Schedule of total net sales for each reportable segments

The total assets for each of the Company’s reportable segments, as well as assets not allocated to a segment, are as follows:


	January 31,		January 31,
	2024		2023

	(In thousands)
Wholesale	$	1,562,203	$	1,746,314
Retail		104,272		127,047
Corporate		1,014,689		839,044
Total Assets	$	2,681,164	$	2,712,405

Schedule of total net sales and long-lived assets by geographic region

The total net sales and long-lived assets by geographic region are as follows:


	2024				2023				2022
			Long-Lived				Long-Lived				Long-Lived
Geographic Region	Net Sales		Assets		Net Sales		Assets		Net Sales		Assets
United States	$	2,400,191	$	605,548	$	2,609,710	$	633,799	$	2,365,919	$	938,947
Non-United States		698,051		415,298		617,018		426,106		400,619		150,724
	$	3,098,242	$	1,020,846	$	3,226,728	$	1,059,905	$	2,766,538	$	1,089,671

SIGNIFICANT ACCOUNTING POLICIES - Reconciliation between Basic and Diluted Net Income (loss) per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Jan. 31, 2024	Jan. 31, 2023	Jan. 31, 2022
SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Net income (loss) attributable to G-III Apparel Group, Ltd.	$ 176,168	$ (133,061)	$ 200,593
Basic net income (loss) per share:
Basic common shares	45,859	47,653	48,426
Basic net income (loss) per share (in dollars per share)	$ 3.84	$ (2.79)	$ 4.14
Diluted net income (loss) per share:
Basic common shares	45,859	47,653	48,426
Dilutive restricted stock unit awards and stock options	1,141		1,090
Diluted common shares	47,000	47,653	49,516
Diluted net income (loss) per share (in dollars per share)	$ 3.75	$ (2.79)	$ 4.05

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

INCOME TAXES

12 Months Ended

Jan. 31, 2024

INCOME TAXES [Abstract]

INCOME TAXES

NOTE 9 — INCOME TAXES

The income tax provision is comprised of the following:


	Year Ended January 31,
	2024		2023		2022

	(In thousands)
Current
Federal	$	42,376	$	27,982	$	39,283
State and city		9,768		8,278		4,484
Foreign		9,971		14,647		5,991
		62,115		50,907		49,758
Deferred
Federal		6,469		(50,764)		17,090
State and city		878		(4,457)		2,116
Foreign		(3,603)		526		1,911
		3,744		(54,695)		21,117
Income tax expense (benefit)	$	65,859	$	(3,788)	$	70,875
Income (loss) before income taxes
United States	$	218,528	$	(106,086)	$	234,034
Non-United States		22,071		(32,084)		36,942
	$	240,599	$	(138,170)	$	270,976

Effective January 1, 2018, the Tax Cuts and Jobs Act (“TCJA”) subjects a U.S. parent company to current tax on its global intangible low-taxed income (“GILTI”). For fiscal 2024, the Company has elected to treat the tax effect of GILTI as a current period expense.

The significant components of the Company’s net deferred tax liabilities at January 31, 2024 and 2023 are summarized as follows:


	2024		2023

	(In thousands)
Deferred income tax assets:
Compensation	$	3,444	$	879
Inventory		13,756		12,197
Provision for bad debts and sales allowances		11,918		15,237
Supplemental employee retirement plan		792		688
Net operating loss		40,183		33,749
Operating lease liability		52,341		56,519
Foreign tax credit carryforward		5,594		3,865
Section 174 R&D amortization		1,016		478
Other		4,919		—
Gross deferred income tax assets		133,963		123,612
Less: valuation allowance		(39,140)		(33,087)
Net deferred income tax assets		94,823		90,525
Deferred income tax liabilities:
Depreciation and amortization		(15,821)		(6,268)
Intangibles		(51,071)		(48,760)
Operating lease asset		(46,546)		(50,995)
Accrued expenses		—		(57)
Prepaid expenses and other		(2,149)		(2,279)
Other		(2,724)		(560)
Total deferred income tax liabilities		(118,311)		(108,919)
Net deferred income tax liabilities	$	(23,488)	$	(18,394)

The Company intends to indefinitely reinvest substantially all of the undistributed earnings of its foreign subsidiaries. The total undistributed earnings of the Company’s foreign subsidiaries that are considered to be indefinitely reinvested were approximately $150 million as of January 31, 2024. Upon distribution of these earnings in the form of dividends or otherwise, the Company does not anticipate any material tax costs. As such, no deferred taxes have been provided for withholding taxes or other taxes that would result upon repatriation of these undistributed foreign earnings.

On December 12, 2022, the Council of the European Union (“EU”) announced that EU member states reached an agreement to implement the minimum tax component of the Organization for Economic Co-operation and Development’s international tax reform initiative, known as Pillar Two. The Pillar Two Model Rules provide for a global minimum tax of 15% for multinational enterprise groups, and is expected to be effective for our fiscal year ending January 31, 2025. While the Company does not expect these rules to have a material impact on its effective tax rate or financial results, the Company continues to monitor evolving tax legislation in the jurisdictions in which it operates.

The following is a reconciliation of the statutory federal income tax rate to the effective rate reported in the financial statements for the years ended January 31:


	2024		2023		2022
Provision for Federal income taxes at the statutory rate	21.0	%	21.0	%	21.0	%
State and local income taxes, net of Federal tax benefit	3.7		(2.1)		2.0
Permanent differences	2.8		(2.1)		2.8
U.S. tax on foreign earnings	1.8		(6.0)		1.5
Foreign tax rate differential	1.0		1.2		—
Foreign tax credit	(2.9)		7.9		(3.4)
Valuation allowance	0.4		(3.1)		0.8
Goodwill impairment	—		(17.3)		—
Non-taxable capital gain	—		5.1		—
Other, net⁽¹⁾	(0.4)		(1.9)		1.5
Actual provision for income taxes	27.4	%	2.7	%	26.2	%

(1)	Prior year share-based payments have been reclassed to Other, net for presentation purposes.

The Company’s effective tax rate increased to 27.4% in fiscal 2024 compared to 2.7% in fiscal 2023. This increase in the Company’s effective tax rate is primarily the result of the Company’s charges related to goodwill impairment of $347.2 million which significantly decreased pretax book income in relation to its tax expense in fiscal 2023, as well as operating losses generated in certain foreign jurisdictions during fiscal 2024 that are not expected to be realized. The Company’s effective tax rate decreased to 2.7% in fiscal 2023 compared to 26.2% in fiscal 2022. This decrease in the Company’s effective tax rate is primarily the result of the Company’s charges related to goodwill impairment of $347.2 million which significantly decreased pretax book income in relation to its tax expense.

At January 31, 2024, the Company had state net operating loss carryforwards of $3.9 million, of which $2.1 million carryforward indefinitely and the remainder primarily expires in 2036 through 2041. In addition, the Company had foreign net operating loss carryforwards of $36.3 million, with most jurisdictions having indefinite carryforward periods. At January 31, 2024, the Company also has federal foreign tax credit carryforwards of $5.6 million, which expire in 2029 through 2034.

Valuation allowances represent deferred tax benefits where management is uncertain if the Company will have the ability to recognize those benefits in the future. During the year ended January 31, 2024, the Company recorded an increase to its valuation allowance of $6.0 million against its deferred tax assets, of which $1.7 million related to an increase in the Company’s deferred tax assets and related valuation allowance for excess foreign tax credits, $6.7 million related to a net increase in the Company’s deferred tax assets and related valuation allowance for standalone state tax losses and foreign retail losses and $2.4 million related to a decrease in the Company’s valuation allowance for foreign losses expected to be utilized.

Unrecognized Tax Benefits

A reconciliation of the beginning and ending amounts of gross unrecognized tax benefits (excluding interest and penalties) is as follows:



	2024		2023		2022

	(In thousands)
Balance at February 1,	$	3,582	$	2,442	$	2,293
Additions based on tax positions related to the current year		57		245		—
Additions for tax positions of prior years		1,015		895		595
Reductions for tax positions of prior years		(413)		—		—
Lapses of statutes of limitations		—		—		(446)
Balance at January 31,	$	4,241	$	3,582	$	2,442

The Company accounts for uncertain income tax positions in accordance with ASC 740 — Income Taxes. The Company files income tax returns in the U.S. federal jurisdiction and various state and foreign jurisdictions. As of January 31, 2024, there was an increase in the unrecognized tax position reserve of $0.7 million related to state, local and foreign income tax return filings.

The Company’s policy on classification is to include interest in interest and financing charges, net and penalties in selling, general and administrative expenses in the accompanying consolidated statements of operations and comprehensive income (loss). The Company and certain of its subsidiaries are subject to U.S. federal income tax as well as the income tax of multiple state, local, and foreign jurisdictions.

Of the major jurisdictions, the Company and its subsidiaries are subject to examination in the United States and various foreign jurisdictions for fiscal year 2016 and forward. The Company is currently under audit examination by New York for fiscal years 2016 through 2018, France for fiscal years 2019 through 2021 and the Netherlands for fiscal year 2021. The Company believes that it is reasonably possible there will be a reduction in its unrecognized income tax benefits related to foreign exposures, prior to any annual increase, of $2.1 million during the next twelve months due to the expiration of applicable statues of limitations.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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