Skechers U.S.A. (SKX) 10-Q8 Nov 232023 Q3 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2023	Nov. 02, 2023
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Title of 12(b) Security	Class A Common Stock, par value $0.001 per share
Trading Symbol	SKX
Security Exchange Name	NYSE
Entity Registrant Name	SKECHERS USA INC
Entity Central Index Key	0001065837
Entity Current Reporting Status	Yes
Current Fiscal Year End Date	--12-31
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Filer Category	Large Accelerated Filer
Entity File Number	001-14429
Entity Tax Identification Number	95-4376145
Entity Address, Address Line One	228 Manhattan Beach Blvd.
Entity Address, City or Town	Manhattan Beach
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90266
City Area Code	310
Local Phone Number	318-3100
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false
Class A Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		133,595,695
Class B Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		20,385,569

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 1,100,401	$ 615,733
Short-term investments	64,065	102,166
Trade accounts receivable, less allowances of $66,115 and $59,472	929,368	848,287
Other receivables	65,323	86,036
Inventory	1,382,027	1,818,016
Prepaid expenses and other	226,565	176,035
Total current assets ($1,125,164 and $1,014,962 related to VIEs)	3,767,749	3,646,273
Property, plant and equipment, net	1,466,145	1,345,370
Operating lease right-of-use assets	1,212,113	1,200,565
Deferred tax assets	442,875	454,190
Long-term investments	108,517	70,498
Goodwill	101,230	93,497
Other assets, net	140,635	83,094
Total non-current assets ($630,170 and $598,973 related to VIEs)	3,471,515	3,247,214
TOTAL ASSETS	7,239,264	6,893,487
Current liabilities
Accounts payable	820,789	957,384
Accrued expenses	296,313	294,143
Operating lease liabilities	264,556	238,694
Current installments of long-term borrowings	76,695	103,184
Short-term borrowings	35,178	19,635
Total current liabilities ($544,018 and $568,158 related to VIEs)	1,493,531	1,613,040
Long-term operating lease liabilities	1,047,896	1,063,672
Long-term borrowings	239,590	216,488
Deferred tax liabilities	20,203	8,656
Other long-term liabilities	133,781	120,045
Total non-current liabilities ($320,145 and $293,726 related to VIEs)	1,441,470	1,408,861
Total liabilities	2,935,001	3,021,901
Commitments and contingencies (Note 10)	0	0
Stockholders’ equity
Preferred Stock, $0.001 par value; 10,000 shares authorized; none issued and outstanding	0	0
Additional paid-in capital	340,476	403,799
Accumulated other comprehensive loss	(98,044)	(84,897)
Retained earnings	3,709,548	3,250,931
Skechers U.S.A., Inc. equity	3,952,134	3,569,988
Noncontrolling interests	352,129	301,598
Total stockholders' equity	4,304,263	3,871,586
TOTAL LIABILITIES AND EQUITY	7,239,264	6,893,487
Class A Common Stock [Member]
Stockholders’ equity
Common Stock	134	134
Class B Common Stock [Member]
Stockholders’ equity
Common Stock	$ 20	$ 21

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Trade accounts receivable, allowances	$ 66,115	$ 59,472
Current assets related to VIEs	3,767,749	3,646,273
Non-current assets related to VIEs	3,471,515	3,247,214
Current liabilities related to VIEs	1,493,531	1,613,040
Non-current liabilities related to VIEs	$ 1,441,470	$ 1,408,861
Preferred Stock, par value	$ 0.001	$ 0.001
Preferred Stock, shares authorized	10,000,000	10,000,000
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0
Variable interest entity, primary beneficiary [Member]
Current assets related to VIEs	$ 1,125,164	$ 1,014,962
Non-current assets related to VIEs	630,170	598,973
Current liabilities related to VIEs	544,018	568,158
Non-current liabilities related to VIEs	$ 320,145	$ 293,726
Class A Common Stock [Member]
Common Stock, par value	$ 0.001	$ 0.001
Common Stock, shares authorized	500,000,000	500,000,000
Common Stock, shares issued	133,574,000	134,473,000
Common Stock, shares outstanding	133,574,000	134,473,000
Class B Common Stock [Member]
Common Stock, par value	$ 0.001	$ 0.001
Common Stock, shares authorized	75,000,000	75,000,000
Common Stock, shares issued	20,386,000	20,810,000
Common Stock, shares outstanding	20,386,000	20,810,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Sales	$ 2,024,958	$ 1,878,367	$ 6,039,402	$ 5,565,765
Cost of sales	953,040	994,432	2,928,381	2,960,088
Gross profit	1,071,918	883,935	3,111,021	2,605,677
Operating expenses
Selling	178,286	150,857	493,964	425,675
General and administrative	680,449	603,107	1,962,564	1,719,969
Total operating expenses	858,735	753,964	2,456,528	2,145,644
Earnings from operations	213,183	129,971	654,493	460,033
Other income (expense)	(7,055)	(15,139)	5,660	(40,144)
Earnings before income taxes	206,128	114,832	660,153	419,889
Income tax expense	40,202	20,498	122,360	83,229
Net earnings	165,926	94,334	537,793	336,660
Less: Net earnings attributable to noncontrolling interests	20,511	8,448	79,176	39,147
Net earnings attributable to Skechers U.S.A., Inc.	$ 145,415	$ 85,886	$ 458,617	$ 297,513
Net earnings per share attributable to Skechers U.S.A., Inc.
Basic	$ 0.94	$ 0.55	$ 2.96	$ 1.91
Diluted	$ 0.93	$ 0.55	$ 2.93	$ 1.9
Weighted-average shares used in calculating net earnings per share attributable to Skechers U.S.A., Inc.
Basic	154,525	155,420	154,876	155,783
Diluted	156,200	156,233	156,496	156,714

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net earnings	$ 165,926	$ 94,334	$ 537,793	$ 336,660
Other comprehensive income, net of tax
Net unrealized (loss) gain on derivative contract	(776)	3,113	(1,693)	10,210
Loss on foreign currency translation adjustment	(13,301)	(42,888)	(22,594)	(83,628)
Comprehensive income	151,849	54,559	513,506	263,242
Less: Comprehensive income (loss) attributable to noncontrolling interests	16,771	(2,785)	68,036	20,979
Comprehensive income attributable to Skechers U.S.A., Inc.	$ 135,078	$ 57,344	$ 445,470	$ 242,263

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Class A Common Stock [Member]	Class B Common Stock [Member]	Common Stock [Member] Class A Common Stock [Member]	Common Stock [Member] Class B Common Stock [Member]	Additional Paid-in-Capital [Member]	Accumulated Other Comprehensive Loss [Member]	Retained Earnings [Member]	Skechers U.S.A., Inc. Equity [Member]	Noncontrolling Interests [Member]
Beginning Balance at Dec. 31, 2021	$ 3,542,072			$ 135	$ 21	$ 429,608	$ (48,323)	$ 2,877,903	$ 3,259,344	$ 282,728
Beginning Balance, Shares at Dec. 31, 2021				135,107,000	20,939,000
Net earnings	336,660							297,513	297,513	39,147
Foreign currency translation adjustment	(83,628)						(56,003)		(56,003)	(27,625)
Distributions to noncontrolling interests	(13,541)									(13,541)
Net unrealized gain (loss) on derivative contract	10,210					753			753	9,457
Stock compensation expense	44,018					44,018			44,018
Proceeds from the employee stock purchase plan, Shares				144,000
Proceeds from the employee stock purchase plan	4,836					4,836			4,836
Shares issued under the incentive award plan				$ 1		(1)
Shares issued under the incentive award plan, Shares				1,268,000
Shares redeemed for employee tax withholdings	(17,512)					(17,512)			(17,512)
Shares redeemed for employee tax withholdings, Shares				(430,000)
Repurchases of common stock	$ (74,245)			$ (2)		(74,243)			(74,245)
Repurchases of common stock, Shares	(1,926,781)			(1,927,000)
Conversion of Class B Common Stock into Class A Common Stock, Shares				50,000	(50,000)
Ending Balance at Sep. 30, 2022	$ 3,748,870			$ 134	$ 21	387,459	(104,326)	3,175,416	3,458,704	290,166
Ending Balance, Shares at Sep. 30, 2022				134,212,000	20,889,000
Beginning Balance at Jun. 30, 2022	3,718,104			$ 135	$ 21	402,360	(75,784)	3,089,530	3,416,262	301,842
Beginning Balance, Shares at Jun. 30, 2022				134,845,000	20,889,000
Net earnings	94,334							85,886	85,886	8,448
Foreign currency translation adjustment	(42,888)						(28,542)		(28,542)	(14,346)
Distributions to noncontrolling interests	(8,891)									(8,891)
Net unrealized gain (loss) on derivative contract	3,113									3,113
Stock compensation expense	10,223					10,223			10,223
Shares issued under the incentive award plan, Shares				10,000
Shares redeemed for employee tax withholdings	(112)					(112)			(112)
Shares redeemed for employee tax withholdings, Shares				(4,000)
Repurchases of common stock	$ (25,013)			$ (1)		(25,012)			(25,013)
Repurchases of common stock, Shares	(639,295)			(639,000)
Ending Balance at Sep. 30, 2022	$ 3,748,870			$ 134	$ 21	387,459	(104,326)	3,175,416	3,458,704	290,166
Ending Balance, Shares at Sep. 30, 2022				134,212,000	20,889,000
Beginning Balance at Dec. 31, 2022	3,871,586			$ 134	$ 21	403,799	(84,897)	3,250,931	3,569,988	301,598
Beginning Balance, Shares at Dec. 31, 2022		134,473,000	20,810,000	134,473,000	20,810,000
Net earnings	537,793							458,617	458,617	79,176
Foreign currency translation adjustment	(22,594)						(13,147)		(13,147)	(9,447)
Distributions to noncontrolling interests	(17,505)									(17,505)
Net unrealized gain (loss) on derivative contract	(1,693)									(1,693)
Stock compensation expense	49,947					49,947			49,947
Proceeds from the employee stock purchase plan, Shares				148,000
Proceeds from the employee stock purchase plan	5,402					5,402			5,402
Shares issued under the incentive award plan				$ 1		(1)
Shares issued under the incentive award plan, Shares				954,000
Shares redeemed for employee tax withholdings	(18,632)					(18,632)			(18,632)
Shares redeemed for employee tax withholdings, Shares				(364,000)
Repurchases of common stock	$ (100,041)			$ (2)		(100,039)			(100,041)
Repurchases of common stock, Shares	(2,061,151)			(2,061,000)
Conversion of Class B Common Stock into Class A Common Stock				$ 1	$ (1)
Conversion of Class B Common Stock into Class A Common Stock, Shares				424,000	(424,000)
Ending Balance at Sep. 30, 2023	$ 4,304,263			$ 134	$ 20	340,476	(98,044)	3,709,548	3,952,134	352,129
Ending Balance, Shares at Sep. 30, 2023		133,574,000	20,386,000	133,574,000	20,386,000
Beginning Balance at Jun. 30, 2023	4,191,462			$ 134	$ 20	362,769	(87,707)	3,564,133	3,839,349	352,113
Beginning Balance, Shares at Jun. 30, 2023				134,291,000	20,464,000
Net earnings	165,926							145,415	145,415	20,511
Foreign currency translation adjustment	(13,301)						(10,337)		(10,337)	(2,964)
Distributions to noncontrolling interests	(16,755)									(16,755)
Net unrealized gain (loss) on derivative contract	(776)									(776)
Stock compensation expense	17,979					17,979			17,979
Shares issued under the incentive award plan, Shares				16,000
Shares redeemed for employee tax withholdings	(257)					(257)			(257)
Shares redeemed for employee tax withholdings, Shares				(6,000)
Repurchases of common stock	$ (40,015)					(40,015)			(40,015)
Repurchases of common stock, Shares	(805,486)			(805,000)
Conversion of Class B Common Stock into Class A Common Stock, Shares				78,000	(78,000)
Ending Balance at Sep. 30, 2023	$ 4,304,263			$ 134	$ 20	$ 340,476	$ (98,044)	$ 3,709,548	$ 3,952,134	$ 352,129
Ending Balance, Shares at Sep. 30, 2023		133,574,000	20,386,000	133,574,000	20,386,000

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities
Net earnings	$ 537,793	$ 336,660
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities
Depreciation and amortization	131,535	110,688
Provision for bad debts and returns	39,282	22,212
Stock compensation	49,947	44,018
Deferred income taxes	12,422	1,909
Net foreign currency adjustments	(10,642)	17,266
Changes in operating assets and liabilities
Receivables	(67,669)	(287,470)
Inventory	443,940	(380,877)
Other assets	(70,114)	15,082
Accounts payable	(133,174)	91,901
Other liabilities	(14,633)	(14,230)
Net cash provided by (used in) operating activities	918,687	(42,841)
Cash flows from investing activities
Capital expenditures	(238,712)	(263,631)
Acquisitions, net of cash acquired	(70,370)
Purchases of investments	(108,828)	(43,527)
Proceeds from sales and maturities of investments	108,910	114,469
Net cash used in investing activities	(309,000)	(192,689)
Cash flows from financing activities
Net proceeds from the employee stock purchase plan	5,402	4,836
Repayments on long-term borrowings	(48,072)	(30,408)
Proceeds from long-term borrowings	44,685	52,431
Net proceeds from short-term borrowings	15,543	29,818
Payments for employee taxes related to stock compensation	(18,632)	(17,512)
Repurchases of common stock	(100,041)	(74,245)
Distributions to noncontrolling interests	(17,505)	(13,541)
Net cash used in financing activities	(118,620)	(48,621)
Effect of exchange rate changes on cash and cash equivalents	(6,399)	(3,851)
Net change in cash and cash equivalents	484,668	(288,002)
Cash and cash equivalents at beginning of the period	615,733	796,283
Cash and cash equivalents at end of the period	1,100,401	508,281
Cash paid during the period for
Interest	16,361	13,857
Income taxes, net	91,097	73,320
Non-cash transactions
Right-of-use assets exchanged for lease liabilities	221,311	$ 199,646
Non-cash consideration for acquired business	$ 8,873

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 145,415	$ 85,886	$ 458,617	$ 297,513

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2023
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

General

General	9 Months Ended
General	Sep. 30, 2023
Accounting Policies [Abstract]
General	(1) General Basis of Presentation The accompanying unaudited condensed consolidated financial statements of Skechers U.S.A., Inc. (the “Company”) have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”), for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S‑X. In the opinion of management, all normal adjustments and accruals considered necessary to provide a fair statement of the results of operations for the interim periods presented have been included. The December 31, 2022 balance sheet data was derived from audited financial statements; however, the accompanying notes to condensed consolidated financial statements do not include all of the annual disclosures required under GAAP and should be read in conjunction with the Company’s 2022 Annual Report on Form 10-K. Certain reclassifications have been made to the condensed consolidated financial statements in prior years to conform to the current year presentation. Noncontrolling Interests The Company has equity interests in several joint ventures that were established either to exclusively distribute the Company’s products throughout Mexico, Asia and the Middle East or to construct the Company’s domestic distribution facility. These joint ventures are variable interest entities (“VIE”), and the Company is considered the primary beneficiary. This determination is based on the relationships between the Company and the VIE, including management agreements, governance documents and other contractual arrangements. Specifically, the Company has both of the following characteristics: (a) the power to direct the activities of the entity that most significantly impact the entity’s economic performance; and (b) the obligation to absorb losses of the entity that could potentially be significant to the VIE, or the right to receive benefits from the entity that could potentially be significant to the VIE. The assets and liabilities and results of operations of these entities are included in the Company’s condensed consolidated financial statements, even though the Company may not hold a majority equity interest. The Company continues to reassess these relationships quarterly. The assets of these joint ventures are restricted, as they are not available for general business use outside the context of such joint ventures. The holders of the liabilities of each joint venture have no recourse to the Company. FAIR VALUE OF FINANCIAL INSTRUMENTS The fair value hierarchy as defined by applicable accounting standards prioritizes the use of inputs used in valuation techniques into the following three levels: • Level 1: Quoted market prices in active markets for identical assets or liabilities. • Level 2: Other observable market-based inputs or unobservable inputs that are corroborated by market data. • Level 3: Unobservable inputs that cannot be corroborated by market data that reflect the reporting entity’s own assumptions. The Company’s Level 1 investments primarily include money market funds, United States (“U.S.”) Treasury securities and actively traded mutual funds; Level 2 investments primarily include corporate notes and bonds, asset-backed securities and U.S. Agency securities; and the Company does not currently have any Level 3 assets or liabilities. The Company has one Level 2 derivative instrument which is an interest rate swap related to the refinancing of its U.S. distribution center (see Note 4 – Financial Commitments) classified as other assets, net. The fair value of the interest rate swap was determined using the market standard methodology of netting the discounted future fixed cash payments and the discounted expected variable cash receipts. The variable cash receipt was based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. Credit valuation adjustments were incorporated to appropriately reflect both the Company’s nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. The carrying amount of receivables, payables and other amounts arising out of the normal course of business approximates fair value because of the relatively short maturity of such instruments. The carrying amount of the Company’s short-term and long-term borrowings, which are considered Level 2 liabilities, approximates fair value based on current rates and terms available to the Company for similar debt. DERIVATIVE INSTRUMENTS The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage exposure to interest rate movements . To accomplish this objective, the Company uses an interest rate swap as part of its interest rate risk management strategy. The Company’s interest rate swap, designated as a cash flow hedge, involves the receipt of variable amounts from a counterparty in exchange for making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. By utilizing an interest rate swap, the Company is exposed to credit-related losses in the event that the counterparty fails to perform under the terms of the derivative contract. To mitigate this risk, the Company enters into derivative contracts with major financial institutions based upon credit ratings and other factors. The Company continually assesses the creditworthiness of its counterparties. As of September 30, 2023 , all counterparties to the interest rate swap had performed in accordance with their contractual obligations. RecentLY ADOPTED Accounting Pronouncements In March 2020, the FASB issued ASU 2020-04 Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, as amended and supplemented by subsequent ASUs (collectively, “ASU 2020-04” and “ASU 2022-06”), which provides practical expedients for contract modifications and certain hedging relationships associated with the transition from reference rates that are expected to be discontinued. This guidance is applicable for borrowing instruments, which use London Interbank Offered Rate ("LIBOR") as a reference rate, and is available through December 31, 2024. During the second quarter of 2023, the Company amended certain terms of our loan agreement with Bank of America and the related interest rate swap to replace the LIBOR with the daily Secured Overnight Financing Rate ("SOFR") as part of our planned reference rate reform activities, as discussed in Note 4 - Financial Commitments . The Company elected to apply the practical expedient which allows us to account for the modification of the amended agreements as if the modifications were not substantial. These amendments did not result in any change to our application of hedge accounting or and did not have a material impact to our consolidated financial statements.

Cash, Cash Equivalents, Short-T

Cash, Cash Equivalents, Short-Term And Long-Term Investments	9 Months Ended
	Sep. 30, 2023
Cash Cash Equivalents And Short Term And Long Term Investments [Abstract]
Cash, Cash Equivalents, Short-Term and Long-Term Investments	(2) Cash, Cash Equivalents, Short-term and Long-term Investments The following tables show the Company’s cash, cash equivalents, short-term and long-term investments by significant investment category: As of September 30, 2023 (in thousands) Adjusted Cost Fair Value Cash and Cash Equivalents Short-Term Investments Long-Term Investments Cash $ 996,207 $ 996,207 $ 996,207 $ — $ — Level 1 Money market funds 92,960 92,960 92,960 — — U.S. Treasury securities 5,161 5,161 — 5,161 — Mutual funds N/A 8,423 — — 8,423 Total level 1 98,121 106,544 92,960 5,161 8,423 Level 2 Corporate notes and bonds 87,026 87,026 4,989 51,450 30,587 Asset-backed securities 11,381 11,381 — 292 11,089 U.S. Agency securities 18,631 18,631 6,245 7,162 5,224 Total level 2 117,038 117,038 11,234 58,904 46,900 Total $ 1,211,366 $ 1,219,789 $ 1,100,401 $ 64,065 $ 55,323 As of December 31, 2022 (in thousands) Adjusted Cost Fair Value Cash and Cash Equivalents Short-Term Investments Long-Term Investments Cash $ 539,730 $ 539,730 $ 539,730 $ — $ — Level 1 Money market funds 71,503 71,503 71,503 — — U.S. Treasury securities 18,201 18,201 2,000 16,201 — Mutual funds N/A 5,893 — — 5,893 Total level 1 89,704 95,597 73,503 16,201 5,893 Level 2 Corporate notes and bonds 101,959 101,959 2,500 85,731 13,728 Asset-backed securities 4,641 4,641 — 234 4,407 Total level 2 106,600 106,600 2,500 85,965 18,135 Total $ 736,034 $ 741,927 $ 615,733 $ 102,166 $ 24,028 The Company’s investments consist of U.S. Treasury securities, corporate notes and bonds, asset-backed securities and U.S. agency securities, which the Company has the intent and ability to hold to maturity and therefore are classified as held-to-maturity. The Company holds mutual funds in its deferred compensation plan which are classified as trading securities. The Company may sell certain of its investments prior to their stated maturities for strategic reasons including, but not limited to, anticipation of credit deterioration and duration management. The maturities of the Company’s long-term investments are less than two years . The Company minimizes the potential risk of principal loss by investing in highly-rated securities and limiting the amount of credit exposure to any one issuer. Fair values were determined for each individual security in the investment portfolio. Included in long-term investments on the Condensed Consolidated Balance Sheets are company owned life insurance contracts of $ 53.2 million and $ 46.5 million as of September 30, 2023 and December 31, 2022. Interest income was $ 7.3 million and $ 1.4 million for three months ended September 30, 2023 and 2022, and $ 15.2 million and $ 4.2 million for nine months ended September 30, 2023 and 2022. When evaluating an investment for its current expected credit losses, the Company reviews factors such as historical experience with defaults, losses, credit ratings, term and macroeconomic trends, including current conditions and forecasts to the extent they are reasonable and supportable.

Accrued Expenses

Accrued Expenses	9 Months Ended
Accrued Expenses	Sep. 30, 2023
Payables and Accruals [Abstract]
Accrued Expenses	(3) Accrued Expenses Accrued expenses were as follows: As of As of (in thousands) September 30, 2023 December 31, 2022 Accrued payroll, taxes, and other $ 178,332 $ 143,664 Return reserve liability 80,086 60,482 Accrued inventory purchases 37,895 89,997 Accrued expenses $ 296,313 $ 294,143

Financial Commitments

Financial Commitments	9 Months Ended
Financial Commitments	Sep. 30, 2023
Debt Disclosure [Abstract]
Financial Commitments	(4) Financial Commitments The Company had $ 3.1 million and $ 2.7 million letters of credit as of September 30, 2023 and December 31, 2022, and approximately $ 35.2 million and $ 19.6 million in short-term borrowings as of September 30, 2023 and December 31, 2022. Interest expense was $ 5.7 million and $ 5.1 million for the three months ended September 30, 2023 and 2022, and $ 16.8 million and $ 14.1 million for nine months ended September 30, 2023 and 2022. Long-term borrowings were as follows: As of As of (in thousands) September 30, 2023 December 31, 2022 HF-T1 Distribution Center Loan $ 129,505 $ 129,505 HF-T2 Distribution Center Construction Loan 73,017 72,098 China Distribution Center Construction Loan — 41,329 China Distribution Center Expansion Construction Loan 36,915 14,507 China Operational Loans 73,326 54,361 Other 3,522 7,872 Subtotal 316,285 319,672 Less: Current installments 76,695 103,184 Total long-term borrowings $ 239,590 $ 216,488 Revolving Credit Facility The Company maintains a revolving credit facility to manage liquidity, including working capital and capital expenditures. On December 15, 2021, the Company amended its $ 500.0 million senior, unsecured revolving credit agreement dated November 21, 2019 (the “Amended Credit Agreement”). The Amended Credit Agreement expands its senior, unsecured credit facility to $ 750.0 million, which may be increased by up to $ 250.0 million under certain conditions and provides for the issuance of letters of credit up to a maximum of $ 100.0 million and swingline loans up to a maximum of $ 50.0 million. The Amended Credit Agreement extends the maturity date of the credit agreement, which was due to expire on November 21, 2024 , to December 15, 2026 . As of September 30, 2023 , there was no outstanding balance under the revolving credit facility. The unused credit capacity was $ 746.9 million and $ 747.3 million as of September 30, 2023 and December 31 , 2022. The Company is required to maintain a maximum total adjusted net leverage ratio of 3.75 :1, except in the event of an acquisition in which case the ratio may be increased at the Company’s election to 4.25 :1 for the quarter in which such acquisition occurs and for the next three quarters thereafter. The Company was in compliance with the financial covenants as of September 30, 2023 . In addition, the Company had $ 35.2 million and $ 19.6 million outstanding under short-term borrowings as of September 30, 2023 and December 31, 2022. Included in these amounts are $ 23.7 million and $ 14.5 million as of September 30, 2023 and December 31, 2022, related to our subsidiary in India, which has a line of credit of $ 42.3 million and $ 34.1 million as of September 30, 2023 and December 31, 2022, and a weighted average interest rate of 8.4 % for the nine months ended September 30, 2023. HF-T1 Distribution Center Loan To finance construction and improvements to the Company’s North American distribution center, the Company’s joint venture with HF Logistics I, LLC (“HF”), HF Logistics-SKX, LLC (the “JV”) , through a wholly-owned subsidiary of the JV (“HF - T1”), entered into a $ 129.5 million construction loan agreement which matures on March 18, 2025 (the “HF-T1 2020 Loan”) with interest of SOFR Daily Floating Rate plus a margin of 1.75 % per annum. HF-T1 also entered into an ISDA master agreement (together with the schedule related thereto, the “Swap Agreement”) with Bank of America, N.A. to govern derivative and/or hedging transactions that HF-T1 concurrently entered into with Bank of America, N.A. Pursuant to the Swap Agreement, on August 14, 2015 , HF-T1 entered into a confirmation of swap transactions (the “Interest Rate Swap”) as amended (the “Swap Agreement Amendment”) on March 18, 2020 with Bank of America, N.A. with a maturity date of March 18, 2025 . The Swap Agreement Amendment fixes the effective interest rate on the HF-T1 2020 Loan at 2.55 % per annum. The HF-T1 2020 Loan and Swap Agreement Amendment are subject to customary covenants and events of default. Bank of America, N.A. also acts as a lender and syndication agent under the Company’s revolving credit facility. The obligations of the JV under this loan are guaranteed by HF. The Interest Rate Swap involves the receipt of variable amounts from a counterparty in exchange for making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. During the second quarter of 2023, the Company amended certain terms of our loan agreement with Bank of America and the related interest rate swap to replace the LIBOR with the daily SOFR as part of our planned reference rate reform activities. As of both September 30, 2023 and December 31, 2022, the Interest Rate Swap had an aggregate notional amount of $ 129.5 million. Under the terms of the Swap Agreement Amendment, the Company will pay a weighted-average fixed rate of 0.778 % on the notional amount and receive payments from the counterparty based on the 30-day SOFR rate, effectively modifying the Company’s exposure to interest rate risk by converting floating-rate debt to a fixed rate of 2.63 %. HF-T2 Distribution Center Construction Loan To finance the expansion of the Company’s North American distribution center, the JV, through HF Logistics-SKX T2, LLC, a wholly-owned subsidiary of the JV (“HF-T2”) entered into a construction loan agreement of up to $ 73.0 million which matures on April 3, 2025 . Under the 2020 Construction Loan Agreement, the interest rate per annum on the HF-T2 2020 Construction Loan based on the Bloomberg Short-Term Bank Yield Index (“BSBY”) Daily Floating Rate (as defined therein) plus a margin of 190 basis points, reducing to 175 basis points upon substantial completion of the construction and certain other conditions being satisfied. The weighted-average annual interest rate on borrowings under the HF-T2 Distribution Center Construction Loan was approximately 6.79 % during the nine months ended September 30, 2023 . The obligations of the JV under this loan are guaranteed by TGD Holdings I, LLC, which is an affiliate of HF. China Distribution Center Construction Loan The Company had a loan agreement to finance the construction of its distribution center in China which matured on September 28, 2023 . The interest rate was 4.00 % . As of December 31, 2022, the outstanding balance under this loan included approximately $ 41.3 million classified as current installments of long-term borrowings. China Distribution Center Expansion Construction Loan On October 18, 2022, the Company entered into a loan agreement for 1.1 billion yuan with Bank of China Co., Ltd to finance the construction of its distribution center expansion in China. Interest is paid quarterly. The interest rate at September 30, 2023 was 3.4 % and may increase or decrease over the life of the loan, and will be evaluated every 12 months. This loan matures 10 years from the initial receipt of funds. Beginning in 2026, the principal of the loan will be repaid in semi-annual installments of variable amounts. The obligations of this loan entered through the Company’s Taicang Subsidiary are jointly and severally guaranteed by the Company’s China joint venture. China Operational Loans The Company has certain secured credit facilities to support the operations of its China joint venture. The balance of working capital loans was approximately $ 73.3 million with interest rates ranging from 2.90 % to 3.00 % per annum as of September 30, 2023 . The balance of working capital loans as of December 31, 2022 was approximately $ 54.4 million with interest rates ranging from 2.90 % to 3.41 % per annum. The outstanding balances under these working capital loans are classified as current installments of long-term borrowings.

Stockholders Equity and Stock C

Stockholders Equity and Stock Compensation	9 Months Ended
Stockholders Equity and Stock Compensation	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stockholders Equity and Stock Compensation	(5) Stockholders Equity and Stock Compensation SHARE REPURCHASE PROGRAM On January 31, 2022, the Company’s Board of Directors authorized a share repurchase program (the “Share Repurchase Program”), pursuant to which the Company may, from time to time, purchase shares of its Class A common stock, for an aggregate repurchase price not to exceed $ 500 million. The Share Repurchase Program expires on January 31, 2025 and does not obligate the Company to acquire any particular amount of shares. As of September 30, 2023, there was $ 325.7 million remaining to repurchase shares under the Share Repurchase Program. The following table provides a summary the Company’s stock repurchase activities: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Shares repurchased 805,486 639,295 2,061,151 1,926,781 Average cost per share $ 49.68 $ 39.13 $ 48.54 $ 38.53 Total cost of shares repurchased (in thousands) $ 40,015 $ 25,013 $ 100,041 $ 74,245 INCENTIVE AWARD PLAN On April 6, 2023, the Company's Board of Directors adopted the 2023 Incentive Award Plan (the "2023 Plan"), which became effective upon approval by the Company's stockholders on June 12, 2023. The 2023 Plan replaced and superseded in its entirety the 2017 Plan. A total of 7,500,000 shares of Class A Common Stock are reserved for issuance under the 2023 Plan, which provides for the grants of ISOs, non-qualified stock options, restricted stock and various other types of equity awards as described in the plan to the employees, consultants, and directors of the Company. The 2023 Plan is administered by the Company's Board of Directors with respect to awards to non-employee directors and by the Company's Compensation Committee with respect to other eligible participants. In the nine months ended September 30, 2023 , the Company granted restricted stock with time-based vesting as well as performance-based awards. The performance-based awards include a market condition tied to the Company’s total shareholder return in relation to its peer companies as well as a financial performance condition tied to annual earnings per share (“EPS”) growth. The vesting and ultimate payout of performance awards is determined at the end of the three-year performance period and can vary from zero to 200 % based on actual results. As of September 30, 2023, there were 6,512,578 shares available for grant as equity awards under the 2023 Incentive Award Plan if target levels are achieved for performance-based awards and 6,036,795 if maximum levels are achieved. The Company issued the following stock-based instruments: Nine Months Ended September 30, 2023 2022 Granted Weighted-Average Grant-Date Fair Value Granted Weighted-Average Grant-Date Fair Value Restricted stock 901,140 $ 45.97 1,380,650 $ 38.43 Performance-based restricted stock 121,225 $ 43.34 116,250 $ 42.46 Market-based restricted stock 121,225 $ 59.71 116,250 $ 58.85 A summary of the status and changes of the Company’s unvested shares is presented below: Shares Weighted-Average Grant-Date Fair Value Unvested at December 31, 2022 3,423,902 $ 40.62 Granted 1,143,590 47.15 Vested ( 954,337 ) 38.90 Cancelled ( 37,000 ) 40.63 Unvested at September 30, 2023 3,576,155 $ 43.17 The Company determines the fair value of restricted stock awards and any performance-related components based on the closing market price of the Company’s common stock on the date of grant. For share-based awards with a performance-based vesting requirement, the Company evaluates the probability of achieving the performance criteria throughout the performance period and will adjust stock compensation expense up or down based on its estimated probable outcome. Certain performance-based awards contain market condition components which are valued on the date of grant using a Monte Carlo simulation model. For the three months ended September 30, 2023 and 2022, the Company recognized $ 17.4 million and $ 9.7 million of incentive stock compensation expense. For the nine months ended September 30, 2023 and 2022 , the Company recognized $ 47.8 million and $ 42.0 million of incentive stock compensation expense. As of September 30, 2023, the unamortized stock compensation of $ 95.0 million is expected to be recognized over a weighted-average period of 1.75 years. STOCK PURCHASE PLAN A total of 5,000,000 shares of Class A Common Stock are available for sale under the 2018 Employee Stock Purchase Plan (“2018 ESPP”). The 2018 ESPP provides eligible employees of the Company and its subsidiaries the opportunity to purchase shares of the Company’s Class A Common Stock at a purchase price equal to 85 % of the fair market value on the first trading day or last trading day of each purchase period, whichever is lower. Eligible employees can invest up to 15 % of their compensation through payroll deductions during each purchase period. The purchase price discount and the look-back feature cause the 2018 ESPP to be compensatory and the Company recognizes compensation expense, which is computed using the Black-Scholes valuation model. For the three months ended September 30, 2023 and 2022, the Company recognized $ 0.6 million ESPP stock compensation expense. For the nine months ended September 30, 2023 and 2022, the Company recognized $ 2.1 million of ESPP stock compensation expense. As of September 30, 2023, there w ere 3,667,869 shares available for sale under the 2018 ESPP.

Earnings Per Share

Earnings Per Share	9 Months Ended
Earnings Per Share	Sep. 30, 2023
Earnings Per Share [Abstract]
Earnings Per Share	(6) Earnings Per Share Basic EPS and diluted EPS are calculated by dividing net earnings by the following: for basic EPS, the weighted-average number of common shares outstanding for the period; and for diluted EPS, the sum of the weighted-average number of both outstanding common shares and potentially dilutive common shares using the treasury stock method. The calculation of EPS is as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands, except per share data) 2023 2022 2023 2022 Net earnings attributable to Skechers U.S.A., Inc. $ 145,415 $ 85,886 $ 458,617 $ 297,513 Weighted-average common shares outstanding, basic 154,525 155,420 154,876 155,783 Dilutive effect of nonvested shares 1,675 813 1,620 931 Weighted-average common shares outstanding, diluted 156,200 156,233 156,496 156,714 Anti-dilutive common shares excluded above 1 55 14 40 Net earnings per share attributable to Skechers U.S.A., Inc. Basic $ 0.94 $ 0.55 $ 2.96 $ 1.91 Diluted $ 0.93 $ 0.55 $ 2.93 $ 1.90

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	(7) Income Taxes The tax provisions for the three and nine months ended September 30, 2023 and 2022, were computed using the estimated effective tax rates applicable to each of the domestic and international taxable jurisdictions for the full year. The Company’s provision for income tax expense and effective income tax rate are significantly impacted by the mix of the Company’s domestic and foreign earnings (loss) before income taxes. In the foreign jurisdictions in which the Company has operations, the applicable statutory rates range from 0 % to 35 % , which is on average significantly lower than the U.S. federal and state combined statutory rate of approximately 25 %. The Company’s effective tax rate was 19.5 % and 17.9 % for the three months ended September 30, 2023 and 2022. For the quarter, the increase in the effective tax rate is the result of the mix of earnings across foreign jurisdictions. The Company's effective tax rate was 18.5 % and 19.8 % for the nine months ended September 30, 2023 and 2022. Year-to-date, the decrease in the effective tax rate is primarily due to the positive impact of discrete items in the current year compared to negative impacts in the prior year and the return to provision adjustments in the prior year. Our U.S. federal tax returns are under investigation for fiscal years ended December 31, 2015, 2018, 2019 and 2020 by the Internal Revenue Service. We are unable to determine the impact of this examination due to the audit process having not been completed.

Related Party Transactions

Related Party Transactions	9 Months Ended
Related Party Transactions	Sep. 30, 2023
Related Party Transactions [Abstract]
Related Party Transactions	(8) Related Party Transactions The Skechers Foundation (the “Foundation”) is a 501(c)(3) non-profit entity and not a subsidiary or otherwise affiliated with the Company. The Company does not have a financial interest in the Foundation. However, two officers and directors of the Company, Michael Greenberg, the Company’s President, and David Weinberg, the Company’s Chief Operating Officer, are officers and directors of the Foundation. During each of the three months ended September 30, 2023 and September 30, 2022 , the Company made contributions of $ 0.5 million, and contributions of $ 1.5 million for each of the nine-month periods ended September 30, 2023 and September 30, 2022 .

Segment and Geographic Informat

Segment and Geographic Information	9 Months Ended
Segment and Geographic Information	Sep. 30, 2023
Segment Reporting [Abstract]
Segment and Geographic Information	(9) Segment and Geographic Information The Company has two reportable segments, Wholesale and Direct-to-Consumer. Management evaluates segment performance based primarily on sales and gross margin. Other costs and expenses of the Company are analyzed on an aggregate basis and not allocated to the segments. The following summarizes the Company’s operations by segment and geographic area: Segment Information Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Wholesale sales $ 1,174,596 $ 1,191,586 $ 3,542,172 $ 3,583,216 Gross profit 510,043 424,600 1,453,593 1,294,039 Gross margin 43.4 % 35.6 % 41.0 % 36.1 % Direct-to-Consumer sales $ 850,362 $ 686,781 $ 2,497,230 $ 1,982,549 Gross profit 561,875 459,335 1,657,428 1,311,638 Gross margin 66.1 % 66.9 % 66.4 % 66.2 % Total sales $ 2,024,958 $ 1,878,367 $ 6,039,402 $ 5,565,765 Gross profit 1,071,918 883,935 3,111,021 2,605,677 Gross margin 52.9 % 47.1 % 51.5 % 46.8 % (in thousands) As of As of Identifiable assets Wholesale $ 3,547,609 $ 3,682,860 Direct-to-Consumer 3,691,655 3,210,627 Total $ 7,239,264 $ 6,893,487 Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Additions to property, plant and equipment Wholesale $ 65,667 $ 69,344 $ 173,099 $ 184,007 Direct-to-Consumer 25,620 30,776 65,613 79,624 Total $ 91,287 $ 100,120 $ 238,712 $ 263,631 Geographic Information Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Geographic sales Domestic Wholesale $ 407,670 $ 406,594 $ 1,240,355 $ 1,466,204 Domestic Direct-to-Consumer 386,883 339,174 1,096,909 898,131 Total domestic sales 794,553 745,768 2,337,264 2,364,335 International Wholesale 766,926 784,991 2,301,817 2,117,011 International Direct-to-Consumer 463,479 347,608 1,400,321 1,084,419 Total international sales 1,230,405 1,132,599 3,702,138 3,201,430 Total sales $ 2,024,958 $ 1,878,367 $ 6,039,402 $ 5,565,765 Regional Sales Americas (AMER) $ 1,017,447 $ 947,987 $ 2,990,384 $ 2,928,752 Europe, Middle East & Africa (EMEA) 480,377 469,787 1,448,221 1,285,554 Asia Pacific (APAC) 527,134 460,593 1,600,797 1,351,459 Total sales $ 2,024,958 $ 1,878,367 $ 6,039,402 $ 5,565,765 China sales $ 267,602 $ 226,728 $ 851,956 $ 754,676 (in thousands) As of As of Property, plant and equipment, net Domestic $ 936,399 $ 870,924 International 529,746 474,446 Total $ 1,466,145 $ 1,345,370 China property plant and equipment, net $ 282,600 $ 264,422 The Company’s sales to its five largest customers accounted for approximately 8.2 % and 10.3 % of total sales for the three months ended September 30, 2023 and 2022, and for the nine months ended September 30, 2023 and 2022 were 7.8 % and 10.2 % . Assets located outside the U.S. consist primarily of cash, accounts receivable, inventory, property, plant and equipment, and other assets. Net assets held outside the U.S. were $ 4.9 billion and $ 4.4 billion at September 30, 2023 and December 31, 2022. Goodwill of $ 101.2 million and $ 93.5 million is included in the Wholesale segment as of September 30, 2023 and December 31, 2022. The Company performs regular evaluations concerning the ability of customers to satisfy their obligations and provides for estimated doubtful accounts. Domestic accounts receivable generally do not require collateral. Foreign accounts receivable are generally collateralized by letters of credit. The Company’s additions to the provision for expected credit losses for the three months ended September 30, 2023 and 2022 were $ 1.0 million and $ 2.2 million, and for the nine months ended September 30, 2023 and 2022 were $ 2.1 million and $ 3.3 million. The Company’s accounts receivables, excluding allowances for bad debts and chargebacks, by geography are summarized as follows: (in thousands) As of As of Domestic Accounts Receivable $ 327,917 $ 310,138 International Accounts Receivable 667,566 597,621 The Company’s top five manufacturers produced the following: Three Months Ended September 30, Nine Months Ended September 30, (percentage of total production) 2023 2022 2023 2022 Manufacturer #1 24.7 14.5 21.4 16.0 Manufacturer #2 7.6 7.8 6.9 6.4 Manufacturer #3 5.9 6.9 6.3 5.7 Manufacturer #4 5.6 6.0 5.5 5.5 Manufacturer #5 5.1 6.0 4.9 5.3 Total 48.9 41.2 45.0 38.9

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	(10) Commitments and Contingencies In accordance with GAAP, the Company records a liability in its condensed consolidated financial statements for loss contingencies when a loss is known or considered probable and the amount can be reasonably estimated. When determining the estimated loss or range of loss, significant judgment is required to estimate the amount and timing of a loss to be recorded. Estimates of probable losses resulting from litigation and governmental proceedings are inherently difficult to predict, particularly when the matters are in the procedural stages or with unspecified or indeterminate claims for damages, potential penalties, or fines. Accordingly, the Company cannot determine the final amount, if any, of its liability beyond the amount accrued in the condensed consolidated financial statements as of September 30, 2023 , nor is it possible to estimate what litigation-related costs will be in the future; however, the Company believes that the likelihood that claims related to litigation would result in a material loss to the Company, either individually or in the aggregate, is remote.

Business Combinations

Business Combinations	9 Months Ended
Business Combinations	Sep. 30, 2023
Business Combinations [Abstract]
Business Combinations	(11) Business Combinations Business acquisitions are accounted for under the acquisition method by assigning the purchase consideration to tangible and intangible assets acquired and liabilities assumed. The results of businesses acquired in a business combination are included in the consolidated financial statements from the date of acquisition. Assets acquired and liabilities assumed are recorded at their fair values and the excess of the purchase consideration over the amounts assigned is recorded as goodwill. Purchased intangible assets with finite lives are amortized over their estimated useful lives. Fair value determinations require judgment and may involve the use of significant estimates and assumptions, including assumptions with respect to future cash inflows and outflows, discount rates, asset lives, and market multiples, among other items. On May 31, 2023, the Company acquired 100 % of the equity interests of Sports Connection Holdings ApS ("Sports Connection"), a Denmark-based company and a former distributor, to further broaden our reach in Europe. The total consideration is approximately $ 83.7 million and consisted of an initial cash payment of $ 74.8 million, the settlement of pre-existing receivables of $ 1.7 million and a contingent consideration payable of up to $ 7.5 million, subject to the acquiree achieving certain 2023 financial results, and reduced by a working capital adjustment of $ 0.3 million. On the acquisition date, we re corded intangible assets of $ 54.4 million, goodwill of $ 7.7 million and other net assets of $ 21.6 million. The intangible assets have an estimated life of 7 years and are primarily related to reacquired rights. The acquisition is a non-taxable business combination and goodwill is not deductible for tax purposes. The results of Sports Connection's operations have been included in, but are not material to, the Company's consolidated results of operations since the date of acquisition. Unaudited supplemental pro forma results of operations have not been presented because the effect of the acquisition was not material to the Company's condensed consolidated financial statements. One-time acquisition related costs of $ 1.6 million were expensed as general and administrative expenses as incurred. The purchase accounting for the Sports Connection acquisition remains preliminary. Although the Company uses its best estimates and assumptions to accurately value assets acquired and liabilities assumed at the acquisition date, as well as any contingent consideration, the estimates are inherently uncertain and subject to refinement. As a result, any adjustments will be recognized in the reporting period in which the amounts are determined, but not to exceed twelve months from the acquisition date.

General (Policies)

General (Policies)	9 Months Ended
General (Policies)	Sep. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements of Skechers U.S.A., Inc. (the “Company”) have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”), for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S‑X. In the opinion of management, all normal adjustments and accruals considered necessary to provide a fair statement of the results of operations for the interim periods presented have been included. The December 31, 2022 balance sheet data was derived from audited financial statements; however, the accompanying notes to condensed consolidated financial statements do not include all of the annual disclosures required under GAAP and should be read in conjunction with the Company’s 2022 Annual Report on Form 10-K. Certain reclassifications have been made to the condensed consolidated financial statements in prior years to conform to the current year presentation.
Noncontrolling Interests	Noncontrolling Interests The Company has equity interests in several joint ventures that were established either to exclusively distribute the Company’s products throughout Mexico, Asia and the Middle East or to construct the Company’s domestic distribution facility. These joint ventures are variable interest entities (“VIE”), and the Company is considered the primary beneficiary. This determination is based on the relationships between the Company and the VIE, including management agreements, governance documents and other contractual arrangements. Specifically, the Company has both of the following characteristics: (a) the power to direct the activities of the entity that most significantly impact the entity’s economic performance; and (b) the obligation to absorb losses of the entity that could potentially be significant to the VIE, or the right to receive benefits from the entity that could potentially be significant to the VIE. The assets and liabilities and results of operations of these entities are included in the Company’s condensed consolidated financial statements, even though the Company may not hold a majority equity interest. The Company continues to reassess these relationships quarterly. The assets of these joint ventures are restricted, as they are not available for general business use outside the context of such joint ventures. The holders of the liabilities of each joint venture have no recourse to the Company.
Fair Value of Financial Instruments	FAIR VALUE OF FINANCIAL INSTRUMENTS The fair value hierarchy as defined by applicable accounting standards prioritizes the use of inputs used in valuation techniques into the following three levels: • Level 1: Quoted market prices in active markets for identical assets or liabilities. • Level 2: Other observable market-based inputs or unobservable inputs that are corroborated by market data. • Level 3: Unobservable inputs that cannot be corroborated by market data that reflect the reporting entity’s own assumptions. The Company’s Level 1 investments primarily include money market funds, United States (“U.S.”) Treasury securities and actively traded mutual funds; Level 2 investments primarily include corporate notes and bonds, asset-backed securities and U.S. Agency securities; and the Company does not currently have any Level 3 assets or liabilities. The Company has one Level 2 derivative instrument which is an interest rate swap related to the refinancing of its U.S. distribution center (see Note 4 – Financial Commitments) classified as other assets, net. The fair value of the interest rate swap was determined using the market standard methodology of netting the discounted future fixed cash payments and the discounted expected variable cash receipts. The variable cash receipt was based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. Credit valuation adjustments were incorporated to appropriately reflect both the Company’s nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. The carrying amount of receivables, payables and other amounts arising out of the normal course of business approximates fair value because of the relatively short maturity of such instruments. The carrying amount of the Company’s short-term and long-term borrowings, which are considered Level 2 liabilities, approximates fair value based on current rates and terms available to the Company for similar debt.
Derivative Instruments	DERIVATIVE INSTRUMENTS The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage exposure to interest rate movements . To accomplish this objective, the Company uses an interest rate swap as part of its interest rate risk management strategy. The Company’s interest rate swap, designated as a cash flow hedge, involves the receipt of variable amounts from a counterparty in exchange for making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. By utilizing an interest rate swap, the Company is exposed to credit-related losses in the event that the counterparty fails to perform under the terms of the derivative contract. To mitigate this risk, the Company enters into derivative contracts with major financial institutions based upon credit ratings and other factors. The Company continually assesses the creditworthiness of its counterparties. As of September 30, 2023 , all counterparties to the interest rate swap had performed in accordance with their contractual obligations.
Recently Adopted Accounting Pronouncements	RecentLY ADOPTED Accounting Pronouncements In March 2020, the FASB issued ASU 2020-04 Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, as amended and supplemented by subsequent ASUs (collectively, “ASU 2020-04” and “ASU 2022-06”), which provides practical expedients for contract modifications and certain hedging relationships associated with the transition from reference rates that are expected to be discontinued. This guidance is applicable for borrowing instruments, which use London Interbank Offered Rate ("LIBOR") as a reference rate, and is available through December 31, 2024. During the second quarter of 2023, the Company amended certain terms of our loan agreement with Bank of America and the related interest rate swap to replace the LIBOR with the daily Secured Overnight Financing Rate ("SOFR") as part of our planned reference rate reform activities, as discussed in Note 4 - Financial Commitments . The Company elected to apply the practical expedient which allows us to account for the modification of the amended agreements as if the modifications were not substantial. These amendments did not result in any change to our application of hedge accounting or and did not have a material impact to our consolidated financial statements.

Cash, Cash Equivalents, Short_2

Cash, Cash Equivalents, Short-Term And Long-Term Investments (Tables)	9 Months Ended
	Sep. 30, 2023
Cash Cash Equivalents And Short Term And Long Term Investments [Abstract]
Summary of Cash, Cash Equivalents, Short-Term and Long-Term Investments by Significant Investment Category	The following tables show the Company’s cash, cash equivalents, short-term and long-term investments by significant investment category: As of September 30, 2023 (in thousands) Adjusted Cost Fair Value Cash and Cash Equivalents Short-Term Investments Long-Term Investments Cash $ 996,207 $ 996,207 $ 996,207 $ — $ — Level 1 Money market funds 92,960 92,960 92,960 — — U.S. Treasury securities 5,161 5,161 — 5,161 — Mutual funds N/A 8,423 — — 8,423 Total level 1 98,121 106,544 92,960 5,161 8,423 Level 2 Corporate notes and bonds 87,026 87,026 4,989 51,450 30,587 Asset-backed securities 11,381 11,381 — 292 11,089 U.S. Agency securities 18,631 18,631 6,245 7,162 5,224 Total level 2 117,038 117,038 11,234 58,904 46,900 Total $ 1,211,366 $ 1,219,789 $ 1,100,401 $ 64,065 $ 55,323 As of December 31, 2022 (in thousands) Adjusted Cost Fair Value Cash and Cash Equivalents Short-Term Investments Long-Term Investments Cash $ 539,730 $ 539,730 $ 539,730 $ — $ — Level 1 Money market funds 71,503 71,503 71,503 — — U.S. Treasury securities 18,201 18,201 2,000 16,201 — Mutual funds N/A 5,893 — — 5,893 Total level 1 89,704 95,597 73,503 16,201 5,893 Level 2 Corporate notes and bonds 101,959 101,959 2,500 85,731 13,728 Asset-backed securities 4,641 4,641 — 234 4,407 Total level 2 106,600 106,600 2,500 85,965 18,135 Total $ 736,034 $ 741,927 $ 615,733 $ 102,166 $ 24,028

Accrued Expenses (Tables)

Accrued Expenses (Tables)	9 Months Ended
Accrued Expenses (Tables)	Sep. 30, 2023
Payables and Accruals [Abstract]
Summary of Accrued Expenses	Accrued expenses were as follows: As of As of (in thousands) September 30, 2023 December 31, 2022 Accrued payroll, taxes, and other $ 178,332 $ 143,664 Return reserve liability 80,086 60,482 Accrued inventory purchases 37,895 89,997 Accrued expenses $ 296,313 $ 294,143

Financial Commitments (Tables)

Financial Commitments (Tables)	9 Months Ended
Financial Commitments (Tables)	Sep. 30, 2023
Debt Disclosure [Abstract]
Long-Term Borrowings	Long-term borrowings were as follows: As of As of (in thousands) September 30, 2023 December 31, 2022 HF-T1 Distribution Center Loan $ 129,505 $ 129,505 HF-T2 Distribution Center Construction Loan 73,017 72,098 China Distribution Center Construction Loan — 41,329 China Distribution Center Expansion Construction Loan 36,915 14,507 China Operational Loans 73,326 54,361 Other 3,522 7,872 Subtotal 316,285 319,672 Less: Current installments 76,695 103,184 Total long-term borrowings $ 239,590 $ 216,488

Stockholders Equity and Stock_2

Stockholders Equity and Stock Compensation (Tables)	9 Months Ended
Stockholders Equity and Stock Compensation (Tables)	Sep. 30, 2023
Equity [Abstract]
Summary of Stock Repurchase Activities	The following table provides a summary the Company’s stock repurchase activities: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Shares repurchased 805,486 639,295 2,061,151 1,926,781 Average cost per share $ 49.68 $ 39.13 $ 48.54 $ 38.53 Total cost of shares repurchased (in thousands) $ 40,015 $ 25,013 $ 100,041 $ 74,245
Summary of Stock-Based Instruments	The Company issued the following stock-based instruments: Nine Months Ended September 30, 2023 2022 Granted Weighted-Average Grant-Date Fair Value Granted Weighted-Average Grant-Date Fair Value Restricted stock 901,140 $ 45.97 1,380,650 $ 38.43 Performance-based restricted stock 121,225 $ 43.34 116,250 $ 42.46 Market-based restricted stock 121,225 $ 59.71 116,250 $ 58.85
Summary of Unvested Shares	A summary of the status and changes of the Company’s unvested shares is presented below: Shares Weighted-Average Grant-Date Fair Value Unvested at December 31, 2022 3,423,902 $ 40.62 Granted 1,143,590 47.15 Vested ( 954,337 ) 38.90 Cancelled ( 37,000 ) 40.63 Unvested at September 30, 2023 3,576,155 $ 43.17

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
Earnings Per Share (Tables)	Sep. 30, 2023
Earnings Per Share [Abstract]
Summary of Calculation of EPS	The calculation of EPS is as follows: Three Months Ended September 30, Nine Months Ended September 30, (in thousands, except per share data) 2023 2022 2023 2022 Net earnings attributable to Skechers U.S.A., Inc. $ 145,415 $ 85,886 $ 458,617 $ 297,513 Weighted-average common shares outstanding, basic 154,525 155,420 154,876 155,783 Dilutive effect of nonvested shares 1,675 813 1,620 931 Weighted-average common shares outstanding, diluted 156,200 156,233 156,496 156,714 Anti-dilutive common shares excluded above 1 55 14 40 Net earnings per share attributable to Skechers U.S.A., Inc. Basic $ 0.94 $ 0.55 $ 2.96 $ 1.91 Diluted $ 0.93 $ 0.55 $ 2.93 $ 1.90

Segment and Geographic Inform_2

Segment and Geographic Information (Tables)	9 Months Ended
Segment and Geographic Information (Tables)	Sep. 30, 2023
Segment Reporting [Abstract]
Segment Reporting Information	Segment Information Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Wholesale sales $ 1,174,596 $ 1,191,586 $ 3,542,172 $ 3,583,216 Gross profit 510,043 424,600 1,453,593 1,294,039 Gross margin 43.4 % 35.6 % 41.0 % 36.1 % Direct-to-Consumer sales $ 850,362 $ 686,781 $ 2,497,230 $ 1,982,549 Gross profit 561,875 459,335 1,657,428 1,311,638 Gross margin 66.1 % 66.9 % 66.4 % 66.2 % Total sales $ 2,024,958 $ 1,878,367 $ 6,039,402 $ 5,565,765 Gross profit 1,071,918 883,935 3,111,021 2,605,677 Gross margin 52.9 % 47.1 % 51.5 % 46.8 % (in thousands) As of As of Identifiable assets Wholesale $ 3,547,609 $ 3,682,860 Direct-to-Consumer 3,691,655 3,210,627 Total $ 7,239,264 $ 6,893,487 Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Additions to property, plant and equipment Wholesale $ 65,667 $ 69,344 $ 173,099 $ 184,007 Direct-to-Consumer 25,620 30,776 65,613 79,624 Total $ 91,287 $ 100,120 $ 238,712 $ 263,631
Geographic Information	Geographic Information Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2023 2022 2023 2022 Geographic sales Domestic Wholesale $ 407,670 $ 406,594 $ 1,240,355 $ 1,466,204 Domestic Direct-to-Consumer 386,883 339,174 1,096,909 898,131 Total domestic sales 794,553 745,768 2,337,264 2,364,335 International Wholesale 766,926 784,991 2,301,817 2,117,011 International Direct-to-Consumer 463,479 347,608 1,400,321 1,084,419 Total international sales 1,230,405 1,132,599 3,702,138 3,201,430 Total sales $ 2,024,958 $ 1,878,367 $ 6,039,402 $ 5,565,765 Regional Sales Americas (AMER) $ 1,017,447 $ 947,987 $ 2,990,384 $ 2,928,752 Europe, Middle East & Africa (EMEA) 480,377 469,787 1,448,221 1,285,554 Asia Pacific (APAC) 527,134 460,593 1,600,797 1,351,459 Total sales $ 2,024,958 $ 1,878,367 $ 6,039,402 $ 5,565,765 China sales $ 267,602 $ 226,728 $ 851,956 $ 754,676 (in thousands) As of As of Property, plant and equipment, net Domestic $ 936,399 $ 870,924 International 529,746 474,446 Total $ 1,466,145 $ 1,345,370 China property plant and equipment, net $ 282,600 $ 264,422
Summary of Accounts Receivables Excluding the Allowance for Bad Debts and Chargebacks	The Company’s accounts receivables, excluding allowances for bad debts and chargebacks, by geography are summarized as follows: (in thousands) As of As of Domestic Accounts Receivable $ 327,917 $ 310,138 International Accounts Receivable 667,566 597,621
Company's Top Five Manufacturers Produced	The Company’s top five manufacturers produced the following: Three Months Ended September 30, Nine Months Ended September 30, (percentage of total production) 2023 2022 2023 2022 Manufacturer #1 24.7 14.5 21.4 16.0 Manufacturer #2 7.6 7.8 6.9 6.4 Manufacturer #3 5.9 6.9 6.3 5.7 Manufacturer #4 5.6 6.0 5.5 5.5 Manufacturer #5 5.1 6.0 4.9 5.3 Total 48.9 41.2 45.0 38.9

General - Additional Informatio

General - Additional Information (Detail)	Sep. 30, 2023 Derivative
Interest Rate Swap [Member] \| Level 2 [Member]
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items]
Number of derivative instrument	1

Cash, Cash Equivalents, Short_3

Cash, Cash Equivalents, Short-Term and Long-Term Investments - Summary of Cash, Cash Equivalents, Short-Term and Long-Term Investments by Significant Investment Category (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Cash and Cash Equivalents	$ 1,100,401	$ 615,733
Short-Term Investments	64,065	102,166
Long-Term Investments	55,323	24,028
Adjusted Cost	1,211,366	736,034
Fair Value	1,219,789	741,927
Level 1 [Member]
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Cash and Cash Equivalents	92,960	73,503
Fair Value	106,544	95,597
Short-Term Investments	5,161	16,201
Long-Term Investments	8,423	5,893
Adjusted Cost	98,121	89,704
Level 2 [Member]
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Cash and Cash Equivalents	11,234	2,500
Fair Value	117,038	106,600
Short-Term Investments	58,904	85,965
Long-Term Investments	46,900	18,135
Adjusted Cost	117,038	106,600
Money market funds [Member] \| Level 1 [Member]
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Cash and Cash Equivalents	92,960	71,503
Fair Value	92,960	71,503
Short-Term Investments	0	0
Long-Term Investments	0	0
Adjusted Cost	92,960	71,503
U.S. Treasury Securities [Member] \| Level 1 [Member]
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Cash and Cash Equivalents	0	2,000
Fair Value	5,161	18,201
Short-Term Investments	5,161	16,201
Long-Term Investments	0	0
Adjusted Cost	5,161	18,201
Mutual Funds [Member] \| Level 1 [Member]
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Cash and Cash Equivalents	0	0
Fair Value	8,423	5,893
Short-Term Investments	0	0
Long-Term Investments	8,423	5,893
Adjusted Cost	0	0
Corporate Notes and Bonds [Member] \| Level 2 [Member]
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Cash and Cash Equivalents	4,989	2,500
Fair Value	87,026	101,959
Short-Term Investments	51,450	85,731
Long-Term Investments	30,587	13,728
Adjusted Cost	87,026	101,959
Asset-backed Securities [Member] \| Level 2 [Member]
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Cash and Cash Equivalents	0	0
Fair Value	11,381	4,641
Short-Term Investments	292	234
Long-Term Investments	11,089	4,407
Adjusted Cost	11,381	4,641
Cash [Member]
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Cash and Cash Equivalents	996,207	539,730
Short-Term Investments	0	0
Long-Term Investments	0	0
Fair Value	996,207	$ 539,730
U.S. Agency securities [Member] \| Level 2 [Member]
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Cash and Cash Equivalents	6,245
Fair Value	18,631
Short-Term Investments	7,162
Long-Term Investments	5,224
Adjusted Cost	$ 18,631

Cash, Cash Equivalents, Short_4

Cash, Cash Equivalents, Short-Term and Long-Term Investments - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Interest income	$ 7,300	$ 1,400	$ 15,200	$ 4,200
Company owned life insurance contracts	108,517		108,517		$ 70,498
Life Insurance Contracts [Member]
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Company owned life insurance contracts	$ 53,200		$ 53,200		$ 46,500
Maximum [Member]
Cash Cash Equivalents Short Term And Long Term Investments [Line Items]
Long-term investments maturity period			2 years

Accrued Expenses - Summary of A

Accrued Expenses - Summary of Accrued Expenses (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Accrued payroll, taxes, and other	$ 178,332	$ 143,664
Return reserve liability	80,086	60,482
Accrued inventory purchases	37,895	89,997
Accrued expenses	$ 296,313	$ 294,143

Financial Commitments - Additio

Financial Commitments - Additional Information (Detail) ¥ in Billions					3 Months Ended		9 Months Ended
	Oct. 18, 2022 CNY (¥)	Dec. 15, 2021 USD ($)	Mar. 18, 2020	Nov. 21, 2019 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
Outstanding letters of credit					$ 3,100,000		$ 3,100,000		$ 2,700,000
Short-term borrowings					35,178,000		35,178,000		19,635,000
Interest Expense					$ 5,700,000	$ 5,100,000	$ 16,800,000	$ 14,100,000
Weighted-average annual interest rate					8.40%		8.40%
Interest Rate Swap [Member]
Debt Instrument [Line Items]
Aggregate notional amount					$ 129,500,000		$ 129,500,000		$ 129,500,000
Weighted-average fixed rate					0.778%		0.778%		0.778%
Derivative, fixed interest rate					2.63%		2.63%		2.63%
China Distribution Center Construction Loan [Member]
Debt Instrument [Line Items]
Debt instrument maturity date							Sep. 28, 2023
Debt instrument variable rate					4%		4%
Line of credit facility, frequency of payment and payment term							The interest rate was 4.00%
Outstanding balance									$ 41,300,000
Loan amount \| ¥	¥ 1.1
Debt instrument rate					3.40%		3.40%
Debt instrument, term	10 years
Other China Operational Loans [Member]
Debt Instrument [Line Items]
Maximum amount of credit facility					$ 73,300,000		$ 73,300,000		54,400,000
Joint Venture with HF Logistics [Member] \| 2020 Amendment Loan [Member] \| SOFR Loans [Member] \| Interest Rate Swap [Member]
Debt Instrument [Line Items]
Debt instrument basis spread on variable rate							SOFR Daily Floating Rate plus a margin of 1.75% per annum.
Joint Venture with HF Logistics [Member] \| Construction Loan Agreement [Member] \| Interest Rate Swap [Member]
Debt Instrument [Line Items]
Interest rate swap agreement date			Aug. 14, 2015
Joint Venture with HF Logistics [Member] \| 2020 Construction Loan Agreement [Member] \| HF-T2 Distribution Center Construction Loan [Member]
Debt Instrument [Line Items]
Weighted-average annual interest rate					6.79%		6.79%
Debt instrument maturity date							Apr. 03, 2025
Interest rate of line of credit agreement							1.90%
Debt instrument basis spread on variable rate							Under the 2020 Construction Loan Agreement, the interest rate per annum on the HF-T2 2020 Construction Loan
Debt instrument, decrease in basis points							1.75%
India [Member]
Debt Instrument [Line Items]
Short-term borrowings					$ 23,700,000		$ 23,700,000		14,500,000
Maximum [Member]
Debt Instrument [Line Items]
Line of credit					42,300,000		42,300,000		34,100,000
Maximum [Member] \| Joint Venture with HF Logistics [Member] \| 2020 Construction Loan Agreement [Member] \| HF-T2 Distribution Center Construction Loan [Member]
Debt Instrument [Line Items]
Borrowing under loan agreement					73,000,000		73,000,000
Amended Credit Agreement [Member]
Debt Instrument [Line Items]
Debt instrument unused credit capacity					746,900,000		746,900,000		$ 747,300,000
Amended Credit Agreement [Member] \| Unsecured Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum amount of credit facility		$ 750,000,000		$ 500,000,000
Maturity date of credit agreement		Dec. 15, 2026		Nov. 21, 2024
Amended Credit Agreement [Member] \| Line of Credit [Member]
Debt Instrument [Line Items]
Increase in leverage ratio		4.25%
Amended Credit Agreement [Member] \| Line of Credit [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Line of credit, increase		$ 250,000,000
Adjusted net leverage ratio		3.75
Amended Credit Agreement [Member] \| Letters of Credit [Member]
Debt Instrument [Line Items]
Maximum amount of credit facility		$ 100,000,000
Amended Credit Agreement [Member] \| Swingline Loans [Member]
Debt Instrument [Line Items]
Maximum amount of credit facility		$ 50,000,000
Amended Credit Agreement [Member] \| Revolving Credit Facility
Debt Instrument [Line Items]
Short-term borrowings					0		$ 0
HF-T1 Distribution Center Loan [Member] \| Joint Venture with HF Logistics [Member] \| 2020 Amendment Loan [Member]
Debt Instrument [Line Items]
Debt instrument maturity date							Mar. 18, 2025
HF-T1 Distribution Center Loan [Member] \| Joint Venture with HF Logistics [Member] \| 2020 Amendment Loan [Member] \| SOFR Loans [Member] \| Interest Rate Swap [Member]
Debt Instrument [Line Items]
Interest rate of line of credit agreement							1.75%
HF-T1 Distribution Center Loan [Member] \| Joint Venture with HF Logistics [Member] \| Construction Loan Agreement [Member] \| Interest Rate Swap [Member]
Debt Instrument [Line Items]
Derivative maturity date			Mar. 18, 2025
Effective fixed interest rate of loan with swap			2.55%
HF-T1 Distribution Center Loan [Member] \| Minimum [Member] \| 2020 Amendment Loan [Member]
Debt Instrument [Line Items]
Borrowing under loan agreement					$ 129,500,000		$ 129,500,000
Interests at a Range of 2.90% to 3.00% per Annum [Member] \| Maximum [Member] \| Other China Operational Loans [Member]
Debt Instrument [Line Items]
Debt instrument variable rate					3%		3%
Interests at a Range of 2.90% to 3.00% per Annum [Member] \| Minimum [Member] \| Other China Operational Loans [Member]
Debt Instrument [Line Items]
Debt instrument variable rate					2.90%		2.90%
Interests at a Range of 2.90% to 3.41% per Annum [Member] \| Maximum [Member] \| Other China Operational Loans [Member]
Debt Instrument [Line Items]
Debt instrument variable rate									3.41%
Interests at a Range of 2.90% to 3.41% per Annum [Member] \| Minimum [Member] \| Other China Operational Loans [Member]
Debt Instrument [Line Items]
Debt instrument variable rate									2.90%

Financial Commitments - Long-Te

Financial Commitments - Long-Term Borrowings (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Long-term borrowings	$ 316,285	$ 319,672
Current installments of long-term borrowings	76,695	103,184
Long-term borrowings	239,590	216,488
China Operational Loans [Member]
Debt Instrument [Line Items]
Long-term borrowings	73,326	54,361
China Distribution Center Construction Loan [Member]
Debt Instrument [Line Items]
Long-term borrowings	0	41,329
China Distribution Center Expansion Construction Loan
Debt Instrument [Line Items]
Long-term borrowings	36,915	14,507
Other [Member]
Debt Instrument [Line Items]
Long-term borrowings	3,522	7,872
HF-T1 Distribution Center Loan [Member]
Debt Instrument [Line Items]
Long-term borrowings	129,505	129,505
HF-T2 Distribution Center Construction Loan [Member]
Debt Instrument [Line Items]
Long-term borrowings	$ 73,017	$ 72,098

Stockholders Equity and Stock_3

Stockholders Equity and Stock Compensation - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Jan. 31, 2022
Class Of Stock [Line Items]
Stock repurchase program expiration date			Jan. 31, 2025
Remaining to repurchase shares under Share Repurchase Program	$ 325.7		$ 325.7
Recognized stock compensation expense	17.4	$ 9.7	47.8	$ 42
Unrecognized compensation cost related to nonvested common shares	95		$ 95
Weighted average period for recognition of cost			1 year 9 months
ESPP
Class Of Stock [Line Items]
Recognized stock compensation expense	$ 0.6	$ 0.6	$ 2.1	$ 2.1
Performance-Based Awards [Member]
Class Of Stock [Line Items]
Performance period			3 years
Performance-Based Awards [Member] \| Minimum [Member]
Class Of Stock [Line Items]
Payout percentage of performance awards			0%
Performance-Based Awards [Member] \| Maximum [Member]
Class Of Stock [Line Items]
Payout percentage of performance awards			200%
2018 ESPP [Member]
Class Of Stock [Line Items]
Number of shares available for sale under employee stock purchase plan	3,667,869		3,667,869
Percentage of price of common stock purchased			85%
Maximum percentage of employee's compensation to purchase common stock	15%		15%
2023 Plan [Member] \| Performance-Based Awards [Member]
Class Of Stock [Line Items]
Number of shares that remain available for grant	6,512,578		6,512,578
2023 Plan [Member] \| Performance-Based Awards [Member] \| Maximum [Member]
Class Of Stock [Line Items]
Number of shares that remain available for grant	6,036,795		6,036,795
Class A Common Stock [Member]
Class Of Stock [Line Items]
Stock repurchase program authorized amount					$ 500
Class A Common Stock [Member] \| 2018 ESPP [Member]
Class Of Stock [Line Items]
Number of shares available for sale under employee stock purchase plan	5,000,000		5,000,000
Class A Common Stock [Member] \| 2023 Plan [Member]
Class Of Stock [Line Items]
Number of shares reserved for issuance	7,500,000		7,500,000

Stockholders Equity and Stock_4

Stockholders Equity and Stock Compensation - Summary of Stock Repurchase Activities (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Shares repurchased	805,486	639,295	2,061,151	1,926,781
Average cost per share	$ 49.68	$ 39.13	$ 48.54	$ 38.53
Total cost of shares repurchased (in thousands)	$ 40,015	$ 25,013	$ 100,041	$ 74,245

Stockholders Equity and Stock_5

Stockholders Equity and Stock Compensation - Summary of Stock-Based Instruments (Detail) - $ / shares	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted, shares	1,143,590
Weighted-Average Grant-Date Fair Value, shares	$ 47.15
Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted, shares	901,140	1,380,650
Weighted-Average Grant-Date Fair Value, shares	$ 45.97	$ 38.43
Performance-Based Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted, shares	121,225	116,250
Weighted-Average Grant-Date Fair Value, shares	$ 43.34	$ 42.46
Market-Based Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted, shares	121,225	116,250
Weighted-Average Grant-Date Fair Value, shares	$ 59.71	$ 58.85

Stockholders Equity and Stock_6

Stockholders Equity and Stock Compensation - Summary of Unvested Shares (Detail)	9 Months Ended
	Sep. 30, 2023 $ / shares shares
Share-Based Payment Arrangement [Abstract]
Unvested, Shares, Beginning of Period \| shares	3,423,902
Granted, Shares \| shares	1,143,590
Vested, Shares \| shares	(954,337)
Cancelled, Shares \| shares	(37,000)
Unvested, Shares, End of Period \| shares	3,576,155
Unvested, Weighted Average Grant-Date Fair Value, Beginning of Period \| $ / shares	$ 40.62
Granted, Weighted Average Grant-Date Fair Value \| $ / shares	47.15
Vested, Weighted Average Grant-Date Fair Value \| $ / shares	38.9
Cancelled, Weighted Average Grant-Date Fair Value \| $ / shares	40.63
Unvested, Weighted Average Grant-Date Fair Value, End of Period \| $ / shares	$ 43.17

Earnings Per Share - Summary of

Earnings Per Share - Summary of Calculation of EPS (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Earnings Per Share [Abstract]
Net Income (Loss)	$ 145,415	$ 85,886	$ 458,617	$ 297,513
Weighted-average common shares outstanding, basic	154,525	155,420	154,876	155,783
Dilutive effect of nonvested shares	1,675	813	1,620	931
Weighted-average common shares outstanding, diluted	156,200	156,233	156,496	156,714
Anti-dilutive common shares excluded above	1	55	14	40
Net earnings per share attributable to Skechers U.S.A., Inc.
Basic	$ 0.94	$ 0.55	$ 2.96	$ 1.91
Diluted	$ 0.93	$ 0.55	$ 2.93	$ 1.9

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	3 Months Ended		9 Months Ended
Income Taxes - Additional Information (Detail)	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Schedule Of Income Taxes [Line Items]
U.S. federal and state statutory rate			25%
Effective tax rate	19.50%	17.90%	18.50%	19.80%
Non-U.S jurisdictions [Member] \| Minimum [Member]
Schedule Of Income Taxes [Line Items]
Statutory federal rate			0%
Non-U.S jurisdictions [Member] \| Maximum [Member]
Schedule Of Income Taxes [Line Items]
Statutory federal rate			35%

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Related Party Transactions [Abstract]
Contributions to Skechers Foundation for various charitable purposes	$ 0.5	$ 0.5	$ 1.5	$ 1.5

Segment and Geographic Inform_3

Segment and Geographic Information - Segment Reporting Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Segment Reporting Information [Line Items]
Sales	$ 2,024,958	$ 1,878,367	$ 6,039,402	$ 5,565,765
Gross profit	$ 1,071,918	$ 883,935	$ 3,111,021	$ 2,605,677
Gross margin	52.90%	47.10%	51.50%	46.80%
Identifiable assets	$ 7,239,264		$ 7,239,264		$ 6,893,487
Additions to property, plant and equipment	91,287	$ 100,120	238,712	$ 263,631
Wholesale [Member]
Segment Reporting Information [Line Items]
Sales	1,174,596	1,191,586	3,542,172	3,583,216
Gross profit	$ 510,043	$ 424,600	$ 1,453,593	$ 1,294,039
Gross margin	43.40%	35.60%	41%	36.10%
Identifiable assets	$ 3,547,609		$ 3,547,609		3,682,860
Additions to property, plant and equipment	65,667	$ 69,344	173,099	$ 184,007
Direct-to-Consumer [Member]
Segment Reporting Information [Line Items]
Sales	850,362	686,781	2,497,230	1,982,549
Gross profit	$ 561,875	$ 459,335	$ 1,657,428	$ 1,311,638
Gross margin	66.10%	66.90%	66.40%	66.20%
Identifiable assets	$ 3,691,655		$ 3,691,655		$ 3,210,627
Additions to property, plant and equipment	$ 25,620	$ 30,776	$ 65,613	$ 79,624

Segment and Geographic Inform_4

Segment and Geographic Information - Geographic Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Segment Reporting Information [Line Items]
Sales	$ 2,024,958	$ 1,878,367	$ 6,039,402	$ 5,565,765
Property, plant and equipment, net
Property, plant and equipment, net	1,466,145		1,466,145		$ 1,345,370
Wholesale [Member]
Segment Reporting Information [Line Items]
Sales	1,174,596	1,191,586	3,542,172	3,583,216
Direct-to-Consumer [Member]
Segment Reporting Information [Line Items]
Sales	850,362	686,781	2,497,230	1,982,549
Domestic [Member]
Segment Reporting Information [Line Items]
Sales	794,553	745,768	2,337,264	2,364,335
Property, plant and equipment, net
Property, plant and equipment, net	936,399		936,399		870,924
Domestic [Member] \| Wholesale [Member]
Segment Reporting Information [Line Items]
Sales	407,670	406,594	1,240,355	1,466,204
Domestic [Member] \| Direct-to-Consumer [Member]
Segment Reporting Information [Line Items]
Sales	386,883	339,174	1,096,909	898,131
Americas (AMER) [Member]
Segment Reporting Information [Line Items]
Sales	1,017,447	947,987	2,990,384	2,928,752
Europe, Middle East & Africa (EMEA) [Member]
Segment Reporting Information [Line Items]
Sales	480,377	469,787	1,448,221	1,285,554
Asia Pacific (APAC) [Member]
Segment Reporting Information [Line Items]
Sales	527,134	460,593	1,600,797	1,351,459
China Operational Loans [Member]
Segment Reporting Information [Line Items]
Sales	267,602	226,728	851,956	754,676
Property, plant and equipment, net
Property, plant and equipment, net	282,600		282,600		264,422
International [Member]
Segment Reporting Information [Line Items]
Sales	1,230,405	1,132,599	3,702,138	3,201,430
Property, plant and equipment, net
Property, plant and equipment, net	529,746		529,746		$ 474,446
International [Member] \| Wholesale [Member]
Segment Reporting Information [Line Items]
Sales	766,926	784,991	2,301,817	2,117,011
International [Member] \| Direct-to-Consumer [Member]
Segment Reporting Information [Line Items]
Sales	$ 463,479	$ 347,608	$ 1,400,321	$ 1,084,419

Segment and Geographic Inform_5

Segment and Geographic Information - Additional Information (Detail) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023 USD ($) Customer	Sep. 30, 2022 USD ($) Customer	Sep. 30, 2023 USD ($) Customer	Sep. 30, 2022 USD ($) Customer	Dec. 31, 2022 USD ($)
Segment Reporting Information [Line Items]
Goodwill	$ 101,230		$ 101,230		$ 93,497
Provision for expected credit losses			39,282	$ 22,212
Wholesale [Member]
Segment Reporting Information [Line Items]
Goodwill	101,200		101,200		93,500
International [Member]
Segment Reporting Information [Line Items]
Net assets held outside the United States	4,900,000		4,900,000		$ 4,400,000
Provision for expected credit losses	$ 1,000	$ 2,200	$ 2,100	$ 3,300
Sales [Member] \| Customer Concentration Risk [Member]
Segment Reporting Information [Line Items]
Number of largest customers \| Customer	5	5	5	5
Sales [Member] \| Customer Concentration Risk [Member] \| Five Largest Customers [Member]
Segment Reporting Information [Line Items]
Percentage of concentration risk	8.20%	10.30%	7.80%	10.20%

Segment and Geographic Inform_6

Segment and Geographic Information - Summary of Accounts Receivables Excluding the Allowance for Bad Debts and Chargebacks (Detail) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Domestic [Member]
Segment Reporting Information [Line Items]
Accounts receivable	$ 327,917	$ 310,138
International [Member]
Segment Reporting Information [Line Items]
Accounts receivable	$ 667,566	$ 597,621

Segment and Geographic Inform_7

Segment and Geographic Information - Company's Top Five Manufacturers Produced (Detail) - Cost of Goods, Total [Member] - Supplier Concentration Risk [Member]	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Manufacturer One [Member]
Segment Reporting Information [Line Items]
Percentage of Total Production	24.70%	14.50%	21.40%	16%
Manufacturer Two [Member]
Segment Reporting Information [Line Items]
Percentage of Total Production	7.60%	7.80%	6.90%	6.40%
Manufacturer Three [Member]
Segment Reporting Information [Line Items]
Percentage of Total Production	5.90%	6.90%	6.30%	5.70%
Manufacturer Four [Member]
Segment Reporting Information [Line Items]
Percentage of Total Production	5.60%	6%	5.50%	5.50%
Manufacturer Five [Member]
Segment Reporting Information [Line Items]
Percentage of Total Production	5.10%	6%	4.90%	5.30%
Top Five Manufacturers [Member]
Segment Reporting Information [Line Items]
Percentage of Total Production	48.90%	41.20%	45%	38.90%

Business Combinations - Additio

Business Combinations - Additional Information (Detail) - USD ($) $ in Thousands	May 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Goodwill		$ 101,230	$ 93,497
Other net assets		$ 140,635	$ 83,094
Sports Connection Holdings Aps [Member]
Business Acquisition [Line Items]
Company acquired equity interest	100%
Business combination, consideration transferred	$ 83,700
Business combination, cash payments	74,800
Business combination, settlement of pre-existing receivables	1,700
Business combination, working capital adjustment	300
Business combination, intangible assets acquired	54,400
Goodwill	7,700
Other net assets	$ 21,600
Intangible assets, estimated life	7 years
Sports Connection Holdings Aps [Member] \| Maximum [Member]
Business Acquisition [Line Items]
Business combination, contingent consideration payable	$ 7,500
Sports Connection Holdings Aps [Member] \| General and Administrative Expenses
Business Acquisition [Line Items]
Acquisition related costs	$ 1,600