Deckers Outdoor Corp. Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>Deckers Outdoor Corp. has filed its Q3 FY2024 10-Q report, detailing financial performance up to December 31, 2023.</b>

AI Summary

DECKERS OUTDOOR CORP (DECK) filed a Quarterly Report (10-Q) with the SEC on February 5, 2024. Deckers Outdoor Corp. filed its 10-Q report for the period ending December 31, 2023. The filing covers the third quarter of fiscal year 2024. The company's fiscal year ends on March 31st. The filing was made on February 5, 2024. Deckers Outdoor Corp. is classified under SIC code 3021 (Rubber & Plastics Footwear).

Why It Matters

For investors and stakeholders tracking DECKERS OUTDOOR CORP, this filing contains several important signals. This 10-Q filing provides investors with the latest financial data and operational updates for Deckers Outdoor Corp., crucial for assessing the company's performance and future prospects. Understanding the details within this report allows stakeholders to make informed investment decisions regarding the company's stock.

Risk Assessment

Risk Level: low — DECKERS OUTDOOR CORP shows low risk based on this filing. The risk is low as this is a routine quarterly filing (10-Q) and does not appear to contain any immediately alarming information based on the provided header data.

Analyst Insight

Review the full 10-Q filing to analyze revenue, net income, and other key financial metrics for the third quarter of fiscal year 2024.

Key Numbers

• 20231231 — Period End Date (CONFORMED PERIOD OF REPORT)
• 20240205 — Filing Date (FILED AS OF DATE)
• 0331 — Fiscal Year End (FISCAL YEAR END)
• 3021 — SIC Code (STANDARD INDUSTRIAL CLASSIFICATION)

Key Players & Entities

• DECKERS OUTDOOR CORP (company) — FILER
• 20231231 (date) — CONFORMED PERIOD OF REPORT
• 20240205 (date) — FILED AS OF DATE
• 0000910521 (company) — CENTRAL INDEX KEY
• 3021 (industry) — STANDARD INDUSTRIAL CLASSIFICATION
• DE (state) — STATE OF INCORPORATION
• 0331 (date) — FISCAL YEAR END
• 001-36436 (filing_id) — SEC FILE NUMBER

Forward-Looking Statements

• Deckers Outdoor Corp. will continue to show strong profitability in its next earnings report. (DECKERS OUTDOOR CORP) — medium confidence, target: 2024-03-31

FAQ

Industry Context

Deckers Outdoor Corp. operates in the footwear industry, specifically within the Rubber & Plastics Footwear sector (SIC 3021).

Regulatory Implications

The filing is a standard 10-Q, which is a quarterly report required by the SEC for public companies to provide updates on their financial condition.

What Investors Should Do

1. Analyze the financial statements within the 10-Q for revenue, net income, and cash flow.
2. Examine any Management's Discussion and Analysis (MD&A) section for insights into business performance and outlook.
3. Compare the reported figures to previous quarters and the same quarter in the prior year to identify trends.

Key Dates

• 2023-12-31: Period End Date — End of the reporting period for the 10-Q filing.
• 2024-02-05: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the 10-Q filing for the period ending December 31, 2023, providing updated financial information compared to previous filings.

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share DECK New York Stock Exchange

Filing Documents

• deck-20231231.htm (10-Q) — 1320KB
• deck12312023exhibit311.htm (EX-31.1) — 10KB
• deck12312023exhibit312.htm (EX-31.2) — 10KB
• deck12312023exhibit321.htm (EX-32.1) — 8KB
• 0000910521-24-000007.txt (&nbsp;) — 5907KB
• deck-20231231.xsd (EX-101.SCH) — 37KB
• deck-20231231_cal.xml (EX-101.CAL) — 54KB
• deck-20231231_def.xml (EX-101.DEF) — 130KB
• deck-20231231_lab.xml (EX-101.LAB) — 530KB
• deck-20231231_pre.xml (EX-101.PRE) — 324KB
• deck-20231231_htm.xml (XML) — 845KB

- Financial Information

PART I - Financial Information

Financial Statements

Item 1. Financial Statements Condensed Consolidated Balance Sheets (Unaudited) 4 Condensed Consolidated Statements of Comprehensive Income (Unaudited) 5 Condensed Consolidated Statements of Stockholders' Equity (Unaudited) 6 Condensed Consolidated Statements of Cash Flows (Unaudited) 8 Notes to Condensed Consolidated Financial Statements (Unaudited) 10

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 21

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 34

Controls and Procedures

Item 4. Controls and Procedures 34

- Other Information

PART II - Other Information

Legal Proceedings

Item 1. Legal Proceedings 35

Risk Factors

Item 1A. Risk Factors 35

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 36

Defaults Upon Senior Securities *

Item 3. Defaults Upon Senior Securities *

Mine Safety Disclosures *

Item 4. Mine Safety Disclosures *

Other Information

Item 5. Other Information 37

Exhibits

Item 6. Exhibits 38

Signatures

Signatures 39 *Not applicable. 1 Table of Contents CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q for our third fiscal quarter ended December 31, 2023 (Quarterly Report), and the information and documents incorporated by reference within this Quarterly Report, contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended (Exchange Act), which statements are subject to considerable risks and uncertainties. These forward-looking statements are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements other than statements of historical fact contained in, or incorporated by reference within, this Quarterly Report. We have attempted to identify forward-looking statements by using words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "predict," "project," "should," "will," or "would," and similar expressions or the negative of these expressions. Specifically, this Quarterly Report, and the information and documents incorporated by reference within this Quarterly Report, contain forward-looking statements relating to, among other things: the operational challenges faced by our warehouses and distribution centers (DCs), wholesale partners, global third-party logistics providers (3PLs), and third-party carriers, including as a result of global supply chain disruptions and labor shortages; availability of materials and manufacturing capacity, and reliability of overseas production and storage; global geopolitical tensions, including the impact of economic sanctions on our transportation and energy costs; global economic trends, including foreign currency exchange rate fluctuations, changes in interest rates, inflationary pressures,

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION References within this Quarterly Report to "Deckers," "we," "our," "us," "management," or the "Company" refer to Deckers Outdoor Corporation, together with its consolidated subsidiaries. UGG (UGG), HOKA (HOKA), Teva (Teva), Sanuk (Sanuk), and Koolaburra by UGG (Koolaburra) are some of the Company's trademarks. Other trademarks or trade names appearing elsewhere within this Quarterly Report are the property of their respective owners. The trademarks and trade names within this Quarterly Report are referred to without the and symbols, but such references should not be construed as any indication that their respective owners will not assert their rights to the fullest extent under applicable law. Unless otherwise indicated, all figures herein are expressed in thousands, except for per share and share data. 3 Table of Contents

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS DECKERS OUTDOOR CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (dollar and share data amounts in thousands, except par value) December 31, 2023 March 31, 2023 ASSETS (AUDITED) Cash and cash equivalents $ 1,650,802 $ 981,795 Trade accounts receivable, net of allowances ($ 49,835 and $ 32,504 as of December 31, 2023, and March 31, 2023, respectively) 331,677 301,511 Inventories 538,963 532,852 Prepaid expenses 36,138 33,788 Other current assets 75,905 55,523 Income tax receivable 15,369 4,784 Total current assets 2,648,854 1,910,253 Property and equipment, net of accumulated depreciation ($ 348,875 and $ 317,508 as of December 31, 2023, and March 31, 2023, respectively) ( Note 11) 300,815 266,679 Operating lease assets 232,179 213,302 Goodwill 13,990 13,990 Other intangible assets, net of accumulated amortization ($ 82,866 and $ 81,033 as of December 31, 2023, and March 31, 2023, respectively) 35,798 37,457 Deferred tax assets, net 68,950 72,592 Other assets 46,873 41,930 Total assets $ 3,347,459 $ 2,556,203 LIABILITIES AND STOCKHOLDERS' EQUITY Trade accounts payable $ 507,161 $ 265,605 Accrued payroll 86,378 63,781 Operating lease liabilities 51,124 50,765 Other accrued expenses 160,570 86,753 Income tax payable 109,350 17,322 Value added tax payable 12,859 13,154 Total current liabilities 927,442 497,380 Long-term operating lease liabilities 222,867 195,723 Income tax liability 52,585 62,032 Other long-term liabilities 40,375 35,335 Total long-term liabilities 315,827 293,090 Commitments and contingencies ( Note 5) Stockholders' equity Common stock (par value $ 0.01 per share; 125,000 shares authorized; shares issued and outstanding of 25,650 and 26,176 as of December 31, 2023, and March 31, 2023, respectively) 256 262 Additional paid-in capital 255,994 232,932 Retained earnings 1,890,314 1,571,574 Accumulated other comprehensive loss ( Note 8) ( 42,374 ) ( 39

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View this 10-Q filing on SEC EDGAR