Excess tax benefit from stock options, net

2,911

$ 435

435

Exercise of stock options (in shares)

272,325

265,000

Exercise of stock options

$ 2,353

$ 3

2,350

Dividends

^[1]

(2,472)

Ending Balance (in shares) at Dec. 31, 2016

14,556,000

Balance at end of year at Dec. 31, 2016

197,728

$ 146

173,600

60,981

(36,999)

Comprehensive (loss) income:

Net income (loss)

2,154

Translation adjustment

7,823

Derivative fair value adjustment

Effect of retirement benefit obligations

(166)

Comprehensive (loss) income

9,828

Restricted shares issued to directors (in shares)

30,000

Restricted shares issued to directors

Shares issued to employees/directors (in shares)

97,000

Shares issued to employees/directors

$ 1

Exercise of stock options (in shares)

$ 3,390

3,390

300,000

254,000

Exercise of stock options

$ 2,537

$ 2

2,535

Shares effectively repurchased for required employee withholding taxes (in shares)

(34,000)

Shares effectively repurchased for required employee withholding taxes

(694)

Adoption of ASU 2016-09

(46)

Dividends

^[1]

(2,543)

Ending Balance (in shares) at Dec. 31, 2017

14,903,000

Balance at end of year at Dec. 31, 2017

210,279

$ 149

178,909

60,546

(29,325)

Comprehensive (loss) income:

Net income (loss)

(1,720)

Translation adjustment

(5,906)

Derivative fair value adjustment

147

Effect of retirement benefit obligations

468

Comprehensive (loss) income

$ (7,011)

Restricted shares issued to directors (in shares)

46,000

Restricted shares issued to directors

Shares issued to employees/directors (in shares)

211,000

Shares issued to employees/directors

$ 2

$ (2)

Issuance of 5,593,116 shares of common stock for acquisition of Filament, net of equity issuance costs (in shares)

5,593,116

5,593,000

Issuance of 5,593,116 shares of common stock for acquisition of Filament, net of equity issuance costs

$ 75,970

$ 56

75,914

Exercise of stock options (in shares)

$ 4,091

4,091

58,000

Exercise of stock options

$ 286

$ 1

285

Shares effectively repurchased for required employee withholding taxes (in shares)

(47,000)

Shares effectively repurchased for required employee withholding taxes

(560)

Dividends

^[1]

(3,562)

Ending Balance (in shares) at Dec. 31, 2018

20,764,000

Balance at end of year at Dec. 31, 2018

$ 279,493

$ 208

$ 258,637

$ 55,264

$ (34,616)

[1]	Cash dividend declared per share of common stock, were $0.17, $0.17 and $0.17 in 2016, 2017 and 2018, respectively.

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
OPERATING ACTIVITIES
Net (loss) income	$ (1,720)	$ 2,154	$ 15,720
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	23,329	14,189	14,148
Impairment of goodwill	2,205
Amortization of financing costs	1,543	519	650
Deferred rent	57	(642)	(243)
Deferred income taxes	2,086	1,030	(1,951)
Net loss on disposal of fixed assets			84
Stock compensation expense	4,135	3,390	2,942
Undistributed equity (earnings) losses	(545)	(379)	(544)
Loss on early retirement of debt	66	110	272
Contingent consideration fair value adjustment	(1,774)
Changes in operating assets and liabilities (excluding the effects of business acquisitions)
Accounts receivable	8,020	1,481	(17,977)
Inventory	(13,819)	10,818	4,491
Prepaid expenses, other current assets and other assets	540	(951)	(1,199)
Accounts payable, accrued expenses and other liabilities	(3,153)	(9,778)	12,255
Income taxes receivable	(1,442)		132
Income taxes payable	(353)	(4,935)	969
NET CASH PROVIDED BY OPERATING ACTIVITIES	19,175	17,006	29,749
INVESTING ACTIVITIES
Purchases of property and equipment	(7,902)	(6,311)	(3,380)
Filament acquisition, net of cash acquired	(216,527)
Acquisitions, net of cash acquired		(9,072)	(21,699)
Equity investments			567
Net proceeds from sale of property	249	15	64
NET CASH USED IN INVESTING ACTIVITIES	(224,180)	(15,368)	(24,448)
FINANCING ACTIVITIES
Proceeds from revolving credit facility	268,912	237,658	268,242
Repayments of revolving credit facility	(320,767)	(229,696)	(246,756)
Proceeds from Term Loan	275,000
Repayments of Term Loan	(2,063)
Proceeds from short term loan	216	187	118
Payments from short term loan	(278)	(239)	(248)
Payment of financing costs	(11,171)	(31)	(30)
Payment of equity issuance costs	(936)
Cash dividends paid	(3,273)	(2,475)	(2,413)
Payment of capital lease obligations	(77)	(94)	(68)
Proceeds from the exercise of stock options	286	2,537	2,353
Payments of tax withholding for stock based compensation	(561)	(644)	(86)
Excess tax benefit from stock options			223
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	205,288	(2,297)	(4,165)
Effect of foreign exchange on cash	(236)	376	(384)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	47	(283)	752
Cash and cash equivalents at beginning of year	7,600	7,883	7,131
CASH AND CASH EQUIVALENTS AT END OF YEAR	7,647	7,600	7,883
Line of Credit [Member]
FINANCING ACTIVITIES
Repayments of Term Loan		$ (9,500)	$ (25,500)

SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2018

SIGNIFICANT ACCOUNTING POLICIES

NOTE A — SIGNIFICANT ACCOUNTING POLICIES

Organization and business

Lifetime Brands, Inc. (the “Company”) designs, sources and sells branded kitchenware, tableware and other products used in the home and markets its products under a number of brand names and trademarks, which are either owned or licensed by the Company or through retailers’ private labels. The Company sells its products directly to retailers (including through their Internet websites) and, to a lesser extent, to distributors. The Company also sells a limited selection of its products directly to consumers through its own Internet websites.

Basis of presentation

The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for financial information and with the instructions to Form 10-K.

The accompanying consolidated financial statements include estimates and assumptions relating to the reporting of assets and liabilities and the disclosure of contingent assets and liabilities to prepare these financial statements in conformity with U.S. GAAP. The most significant of these estimates and assumptions relate to revenue recognition, allowances for doubtful accounts, reserves for sales returns and allowances and customer chargebacks, inventory mark-down provisions, impairment of tangible and intangible assets, stock based compensation expense, estimates for unpaid healthcare claims, derivative valuations, accruals related to the Company’s tax positions and tax valuation allowances. Although these and other estimates and assumptions are based on the best available information, actual results could be materially different from these estimates.

Principles of consolidation

The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.

Foreign currency

Foreign currency denominated assets and liabilities are translated into U.S. dollars at exchange rates prevailing at the balance sheet dates. Revenues, costs and expenses are translated into U.S. dollars at average exchange rates for the relevant period. Income and losses resulting from translation are recorded as a component of accumulated other comprehensive income (loss). Gains and losses from foreign currency transactions, including the unrealized gain or loss on the fair value of foreign exchange contracts not designated as hedges and the realized gain or loss on all foreign exchange contracts, whether or not designated as hedges, are recognized in selling, general and administrative expenses in the consolidated statements of operations. Foreign currency gain/loss included within selling, general and administrative expenses was a $0.5 million loss in 2018, a $3.0 million loss in 2017 and a $4.2 million gain in 2016.

Revenue recognition

The Company sells products wholesale, to retailers and distributors, and retail, directly to the consumer. Wholesale sales and retail sales are recognized at the point in time the customer obtains control of the products, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those products.

The Company offers various sales incentives and promotional programs to its customers in the normal course of business. These incentives and promotions typically include arrangements such as cooperative advertising, buydowns, volume rebates and discounts. These arrangements and returns are reflected as reductions of revenue at the time of sale. See Note B – Revenue for additional information.

Cost of sales

Cost of sales consist primarily of costs associated with the production and procurement of product, inbound freight costs, purchasing costs, royalties and other product procurement related charges.

Distribution expenses

Distribution expenses consist primarily of warehousing expenses and freight-out expenses. Freight-out expenses were $14.5 million, $11.5 million and $11.0 million for the years ended December 31, 2018, 2017 and 2016, respectively. Handling costs of products sold are included in cost of sales.

Advertising expenses

Advertising expenses are expensed as incurred and are included in selling, general and administrative expenses. Advertising expenses were $4.4 million, $3.4 million and $3.7 million for the years ended December 31, 2018, 2017 and 2016, respectively.

Accounts receivable

The Company periodically reviews the collectability of its accounts receivable and establishes allowances for estimated losses that could result from the inability of its customers to make required payments. A considerable amount of judgment is required to assess the ultimate realization of these receivables including assessing the initial and on-going creditworthiness of the Company’s customers. The Company also maintains an allowance for anticipated customer deductions. The allowances for deductions are primarily based on contracts with customers.

However, in certain cases the Company does not have a formal contract and, therefore, customer deductions are non-contractual. To evaluate the reasonableness of non-contractual customer deductions, the Company analyzes currently available information and historical trends of deductions.

The sale of accounts receivable, under the Company’s Receivable Purchase Agreement with HSBC, are reflected as a reduction of accounts receivable in the Company’s consolidated balance sheet at the time of sale and any related expense is included in selling, general and administrative expenses in the Company’s consolidated statements of operations.

Inventory

Inventory consists principally of finished goods sourced from third-party suppliers. Inventory also includes finished goods, work in process and raw materials related to the Company’s manufacture of sterling silver products. Inventory is priced using the lower of cost (first-in, first-out basis) or net realizable value. The Company estimates the selling price of its inventory on a product by product basis based on the current selling environment. If the estimated selling price is lower than the inventory’s cost, the Company reduces the value of the inventory to its net realizable value. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable cost of completion, disposal and transportation.

Property and equipment

Property and equipment is stated at cost. Property and equipment, other than leasehold improvements, are depreciated using the straight-line method over the estimated useful lives of the assets. Building and improvements are depreciated over 30 years and machinery, furniture and equipment over periods ranging from 3 to 10 years. Leasehold improvements are amortized over the term of the lease or the estimated useful lives of the improvements, whichever is shorter. Advances paid towards the acquisition of property and equipment and the cost of property and equipment not ready for use before the end of the period are classified as construction in progress.

Cash equivalents

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

Concentration of credit risk

The Company’s cash and cash equivalents are potentially subject to concentration of credit risk. The Company maintains cash with several financial institutions that, in some cases, is in excess of Federal Deposit Insurance Corporation insurance limits.

Concentrations of credit risk with respect to trade accounts receivable are limited due to the large number of entities comprising the Company’s customer base.

During the years ended December 31, 2018, 2017 and 2016, Wal-Mart Stores, Inc., including Sam’s Club and, in the United Kingdom, Asda Superstore, (“Walmart”), accounted for 14%, 15% and 16% of net sales, respectively. During the year ended December 31, 2016, Costco Wholesale Corporation, (“Costco”), accounted for 10% of net sales. Sales to Walmart are included in the Company’s U.S. and International segments. Sales to Costco are primarily included in the U.S. segment. No other customers accounted for 10% or more of the Company’s sales during these periods.

Fair value measurements

Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 820,

Fair Value Measurements and Disclosures

, provides enhanced guidance for using fair value to measure assets and liabilities and establishes a common definition of fair value, provides a framework for measuring fair value under U.S. generally accepted accounting principles and expands disclosure requirements about fair value measurements. Fair value measurements included in the Company’s consolidated financial statements relate to the Company’s annual goodwill and other intangible asset impairment tests and derivatives, described in Notes F- Goodwill and Intangible Assets and H- Derivatives, respectively.

Fair value of financial instruments

The Company determined that the carrying amounts of cash and cash equivalents, accounts receivable and accounts payable are reasonable estimates of their fair values because of their short-term nature. The Company determined that the carrying amounts of borrowings outstanding under its ABL Agreement and Term Loan approximate fair value since such borrowings bear interest at variable market rates.

Derivatives

The Company accounts for derivative instruments in accordance with ASC Topic 815,

Derivatives and Hedging

, (“ASC 815”). ASC 815 requires that all derivative instruments be recognized on the balance sheet at fair value as either an asset or liability. Changes in the fair value of derivatives that qualify as hedges and have been designated as part of a hedging relationship for accounting purposes have no net impact on earnings until the hedged item is recognized in earnings. The change in the fair value of hedges are included in accumulated other comprehensive income (loss) and is subsequently recognized in the Company’s consolidated statements of operations to mirror the location of the hedged items impacting earnings.

For derivatives that do not qualify or are not designated as hedging instruments for accounting purposes, changes in fair value are recorded in operations.

Goodwill, intangible assets and long-lived assets

Goodwill and intangible assets deemed to have indefinite lives are not amortized but, instead, are subject to an annual impairment assessment. Additionally, if events or conditions were to indicate the carrying value of a reporting unit may not be recoverable, the Company would evaluate goodwill and other intangible assets for impairment at that time. As it relates to the goodwill assessment, the Company first assesses qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the quantitative goodwill impairment testing described in ASU Topic 350,

Intangibles – Goodwill and Other

. If, after assessing qualitative factors, the Company determines that it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, then performing the quantitative test is unnecessary and the Company’s goodwill is considered to be unimpaired. However, if based on the Company’s qualitative assessment it concludes that it is more likely than not that the fair value of the reporting unit is less than its carrying amount, or if the Company elects to bypass the qualitative assessment, the Company will proceed with performing the quantitative impairment test. In January 2017, the FASB issued revised guidance that simplifies the test for goodwill impairment, effective for fiscal years beginning after December 15, 2019, with early adoption permitted. The Company elected to early adopt the guidance in the third quarter of 2018. Under the revised guidance, if a reporting unit’s carrying value exceeds its fair value, an impairment charge will be recorded to reduce the reporting unit to fair value. Prior to the revised guidance, the amount of the impairment was the difference between the carrying value of the goodwill and the “implied” fair value, which was calculated as if the reporting unit had just been acquired and accounted for as a business combination.

The Company also evaluates qualitative factors to determine whether or not its indefinite lived intangibles have been impaired and then performs quantitative tests if required. These tests can include the relief from royalty model or other valuation models.

Long-lived assets, including intangible assets deemed to have finite lives, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Impairment indicators include, among other conditions, cash flow deficits, historic or anticipated declines in revenue or operating profit or material adverse changes in the business climate that indicate that the carrying amount of an asset may be impaired. When impairment indicators are present, the recoverability of the asset is measured by comparing the carrying value of the asset to the estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of the asset is not recoverable, the impairment to be recognized is measured by the amount by which the carrying amount of each long-lived asset exceeds the fair value of the asset.

Income taxes

The Company accounts for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities are determined based on differences between financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that are expected to be in effect when the differences are expected to reverse. The Company accounts for foreign income taxes based upon anticipated reinvestment of profits into respective foreign tax jurisdictions.

The Company applies the authoritative guidance for the financial statement recognition, measurement and disclosure of uncertain tax positions recognized in the Company’s financial statements

In accordance with this guidance, tax positions must meet a more-likely-than-not recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position. A valuation allowance is required to be established or maintained when it is “more likely than not” that all or a portion of deferred tax assets will not be realized.

Share-based compensation

The Company accounts for its share-based compensation arrangements in accordance with ASC Topic 718,

Stock Compensation

, which requires the measurement of compensation expense for all share-based compensation granted to employees and non-employee directors at fair value on the date of grant and recognition of compensation expense over the related service period. Forfeitures are accounted for as they occur.

The Company uses the Black-Scholes option valuation model to estimate the fair value of its stock options. The Black-Scholes option valuation model requires the input of highly subjective assumptions including the expected stock price volatility of the Company’s common stock and the risk-free interest rate. Changes in these subjective input assumptions can materially affect the fair value estimate of the Company’s stock options on the date of the option grant.

Performance share awards are initially valued at the Company’s closing stock price on the date of grant. Each performance award represents the right to receive up to 150%

of the target number of shares of common stock. The number of shares of common stock earned will be determined based on the attainment of specified performance goals by the end of the performance period, as determined by the Compensation Committee of the Board of Directors. Compensation expense for performance awards is recognized over the vesting period, and will vary based on remeasurement during the performance period. If achievement of the performance metrics is not probable of achievement during the performance period, compensation expense is reversed. The awards are forfeited if the performance metrics are not achieved as of the end of the performance period. The performance share awards vest at the end of a three year period, as determined by the Compensation Committee.

The Company bases the estimated fair value of restricted stock awards on the date of grant. The estimated fair value is determined based on the closing price of the Company’s common stock on the date of grant multiplied by the number of shares awarded. Compensation expense is recognized on a straight-line basis over the vesting period.

Employee healthcare

The Company self-insures certain portions of its health insurance plan. The Company maintains an accrual for estimated unpaid claims and claims incurred but not yet reported (“IBNR”). Although management believes that it uses the best information available to estimate IBNR claims, actual claims may vary significantly from estimated claims.

Restructuring expenses

Costs associated with restructuring activities are recorded at fair value when a liability has been incurred. A liability has been incurred at the point of closure for any remaining operating lease obligations and at the communication date for severance.

In connection with the Company’s March 2018 acquisition of Filament, the Company commenced a restructuring plan to integrate the operations of Filament with the Company’s operations and realize the savings expected from the synergies of the acquisition. During the year ended December 31, 2018 the Company incurred $2.1

million of Filament

restructuring charges, primarily related to severance, of which $1.4

million is accrued at December 31, 2018.

During the years ended December 31, 2018 and 2017, the Company incurred $0.2 million and

$1.0

million, respectively, of restructuring expense, primarily related to severance, for the integration of its legal entities operating in Europe. In 2018, the Company finalized its integration plans for its European operations and took further steps to consolidate its operations. The Company will combine its physical locations in the U.K. in 2019 and expects to incur approximately

$1.5

million of restructuring and integration charges in 2019. At December 31, 2018, $0.2 million of restructuring charges related to the European restructuring plan were accrued.

During the year ended December 31, 2016 the Company recorded $2.4 million of restructuring expense related to its review of the U.S. segment, which included the realignment of product categories and implementation of cost reduction initiatives.

Commitments and Contingencies

The Company is subject to various claims and contingencies related to lawsuits, certain taxes and environmental matters, as well as commitments under contractual and other commercial obligations. The Company recognizes liabilities for contingencies and commitments when a loss is probable and estimable.

Adopted Accounting Pronouncements

Effective January 1, 2018, the Company adopted Accounting Standards Update (“ASU”) 2017-01,

Clarifying the Definition of a Business

. This standard assists with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. This standard will be applied prospectively to acquisitions and has not had an impact on the Company’s consolidated financial statements.

Effective January 1, 2018, the Company adopted ASC Topic 606,

Revenue from Contracts with Customers

. The standard supersedes existing revenue recognition guidance and replaces it with a five step revenue model with a core principle that an entity recognizes revenue to reflect the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. The Company adopted the new guidance under the modified retrospective approach. The adoption of this guidance did not have a significant impact on the Company’s consolidated financial statements. The adoption resulted in the recognition of right of a return asset related to certain product returns by increasing the returns liability; this gross up had no corresponding impact on the consolidated statement of operations.

Effective January 1, 2018, the Company adopted ASU 2017-12,

Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities,

which expands and refines hedge accounting for both non-financial and financial risk components and aligns the recognition and presentation of the effects of the hedging instrument and the hedged item in the financial statements. The guidance also makes certain improvements to simplify the application of hedge accounting guidance and ease the administrative burden of hedge documentation requirements and assessing hedge effectiveness. The Company applied the new guidance to existing cash flow hedge relationships using a modified retrospective approach. No adjustment was recorded to opening retained earnings on the date of adoption, as there was no ineffectiveness previously recorded in retained earnings that would have been included in other comprehensive income if the new guidance had been applied since hedge inception. The adoption of this ASU did not have a material impact on the Company’s financial condition, results of operations or cash flows.

Effective September 30, 2018, the Company adopted ASU 2017-04,

Intangibles – Goodwill and Other (Topic 350):

Simplifying the Test for Goodwill Impairment

, to simplify the subsequent measurement of goodwill by eliminating the second step of the goodwill impairment test. Under this standard, an entity should perform its annual or interim goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. The loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. The Company early adopted this standard and the guidance was applied to the Company’s September 30, 2018 interim and October 1, 2018 annual goodwill impairment tests.

Accounting pronouncements to be adopted in future periods

Updates not listed below were assessed and either determined to not be applicable or are expected to have a minimal effect on the Company’s financial position, results of operations, and disclosures.

In February 2018, the FASB issued ASU 2018-02,

Income Statement- Reporting Comprehensive Income: Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income

, which addresses the effect on items within accumulated other comprehensive income (loss) of the change in the U.S. federal corporate tax rate due to the enactment of the Tax Cuts and Jobs Act (the “Tax Act”) on December 22, 2017. The guidance is effective for fiscal years beginning after December 15, 2018, with early adoption permitted. Upon adoption, the Company does not expect to elect to reclassify the stranded income tax effects of the Tax Act from accumulated other comprehensive income to retained earnings.

In August 2016, the FASB issued ASU 2016-15,

Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments

, which reduces the diversity in practice on how certain transactions are classified in the statement of cash flows. The guidance is effective for fiscal years beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2019. Early adoption is permitted.

In February 2016, the FASB issued ASU 2016-02,

Leases (Topic 842),

which requires a lessee, in most leases, to initially recognize a lease liability for the obligation to make lease payments and a right-of-use asset for the right to use the underlying asset for the lease term. The guidance is effective for fiscal years beginning after December 15, 2018, and interim periods within those years. The guidance requires adoption using a modified retrospective transition approach with either 1) periods prior to the adoption date being recast or 2) a cumulative-effect adjustment recognized to the opening balance of retained earnings on the adoption date with prior periods not recast. The Company adopted this standard on January 1, 2019 using the cumulative-effect adjustment method and elected certain practical expedients allowed under the standard. The Company’s project team assessed the effect of the adoption of this standard on its accounting policies, business processes, internal controls over financial reporting and related disclosures. Upon adoption, the Company estimates assets and liabilities will increase by approximately $91.0 million and $104.5 million, respectively. Changes in the Company’s lease population or changes in incremental borrowing rates may alter this estimate. The Company does not expect to recognize a material cumulative-effect adjustment to retained earnings upon adoption. The Company will provide expanded disclosures as a result of the guidance upon adoption.

REVENUE

12 Months Ended

Dec. 31, 2018

REVENUE

NOTE B —REVENUE

The Company sells products wholesale, to retailers and distributors, and sells products retail, directly to consumers. Wholesale sales and retail sales are recognized at the point in time the customer obtains control of the products in an amount that reflects the consideration the Company expects to be entitled to in exchange for those products. To indicate the transfer of control, the Company must have a present right to payment, legal title must have passed to the customer, the customer must have the significant risks and rewards of ownership, and where acceptance is not a formality, the customer must have accepted the product or service. The Company’s principal terms of sale are FOB Shipping Point, or equivalent, and, as such, the Company primarily transfers control and records revenue for product sales upon shipment. Sales arrangements with delivery terms that are not FOB Shipping Point are not recognized upon shipment and the transfer of control for revenue recognition is evaluated based on the associated shipping terms and customer obligations. Shipping and handling fees that are billed to customers in sales transactions are included in net sales and amounted to $3.5 million, $2.7 million and $2.6 million for the years ended December 31, 2018, 2017 and 2016, respectively. Net sales exclude taxes that are collected from customers and remitted to the taxing authorities.

The Company offers various sales incentives and promotional programs to its wholesale customers from time to time in the normal course of business. These incentives and promotions typically include arrangements such as cooperative advertising, buydowns, volume rebates and discounts. These arrangements represent forms of variable consideration, and an estimate of sales returns are reflected as reductions in net sales in the Company’s consolidated statements of operations. These estimates are based on historical experience and other known factors or as the most likely amount in a range of possible outcomes. On a quarterly basis, variable consideration is assessed on a portfolio approach in estimating the extent to which the components of variable consideration are constrained.

Payment terms vary by customer, but generally range from 30 to 90 days or at the point of sale for the Company’s retail direct sales. The Company incurs certain direct incremental costs to obtain contracts with customers, such as sales-related commissions, where the recognition period for the related revenue is less than one year. These costs are expensed as incurred and recorded within selling, general and administrative expenses in the consolidated statement of operations. Incidental items that are immaterial in the context of the contract are expensed as incurred.

The following tables present the Company’s net sales disaggregated by segment, product category and geographic region for the years ended December 31, 2018, 2017 and 2016 (in thousands).

	Year Ended December 31,
	2018		2017		2016
	(in thousands)
U.S. segment
Kitchenware	$	331,603	$	276,745	$	287,100
Tableware		169,709		152,846		155,961
Home Solutions		110,661		52,128		48,488
Total U.S. segment		611,973		481,719		491,549
International segment
Kitchenware		58,164		59,686		59,742
Tableware		34,405		38,071		41,328
Total International segment		92,569		97,757		101,070
Total net sales	$	704,542	$	579,476	$	592,619

	Year ended December 31,
	2018		2017		2016
	(in thousands)
United States	$	575,158	$	460,788	$	472,962
United Kingdom		65,852		74,834		74,991
Rest of World		63,532		43,854		44,666
Total net sales	$	704,542	$	579,476	$	592,619

ACQUISITIONS

12 Months Ended

Dec. 31, 2018

ACQUISITIONS

NOTE C —ACQUISITIONS

Filament

December 22, 2017

, the Company entered into an agreement providing for the acquisition of Filament by the Company. The acquisition was completed on

March 2, 2018

. The aggregate consideration for Filament, after taking into account certain adjustments, was $294.4 million, consisting of $217.5 million of cash consideration and 5,593,116 newly issued shares of the Company’s common stock, with a value equal to $76.9 million based on the market value of the Company’s common stock as of March 2, 2018. The cash portion of the consideration was revised for certain adjustments as defined in the agreement.

The purchase price, as adjusted, has been determined to be as follows (in thousands):

Cash	$	217,511
Share consideration		76,905
Total purchase price	$	294,416

The purchase price was allocated based on the Company’s preliminary estimate of the fair value of the assets acquired and liabilities assumed, as follows (in thousands):

Accounts receivable	$	26,224
Inventory		29,444
Other assets		5,620
Other liabilities		(22,449	)
Deferred income tax		(13,877	)
Goodwill and other intangibles		269,454
Total allocated value	$	294,416

The acquisition is being accounted for as a business combination using the acquisition method of accounting in accordance with FASB ASC Topic 805,

Business Combinations

(“ASC Topic 805”), which established a new basis of accounting for all identifiable assets acquired and liabilities assumed at fair value. ASC Topic 805 allows the acquiring company to adjust preliminary amounts recognized at the acquisition date to their subsequently determined final fair values during a measurement period, generally up to one year from the date of the acquisition. The fair values of net assets acquired are based on the Company’s preliminary estimate of the respective fair values. While the final valuation of net assets may result in material adjustments to the respective fair values and resulting goodwill, the Company currently expects any future adjustments to be related to income taxes. During the three months ended December 31, 2018, the Company decreased goodwill by approximately $10.1 million due to certain opening balance sheet fair value adjustments, primarily related to deferred taxes. Goodwill results from such factors as an assembled workforce. The total amount of goodwill is not expected to be deductible for tax purposes. The goodwill and other intangible assets are included in the U.S. segment. Customer relationships and certain trade names, which are included in intangible assets, net, are amortized on a straight-line basis over their estimated useful lives (see Note F– Goodwill and Intangible Assets).

The year ended December 31, 2018 includes the operations of Filament for the period from March 2, 2018, the date of the acquisition of Filament, to December 31, 2018. The consolidated statement of operations for the year ended December 31, 2018, includes

128.8

million of net sales contributed by Filament.

Included in Selling, general and administrative expenses for the year ended December 31, 2018 is a $1.8 million credit to reflect the change in fair value of a contingent consideration obligation acquired by the Company in connection with its acquisition of Filament.

Unaudited Pro forma Results

The following table presents the Company’s pro forma consolidated net sales, income before income taxes and equity in earnings and net (loss) income for the years ended December 31, 2018 and 2017. The unaudited pro forma results include the historical statement of operations information of the Company and of Filament, giving effect to the Filament acquisition and related financing as if they had occurred at the beginning of the periods presented.

The unaudited pro forma results do not include any revenue or cost reductions that may be achieved through the business combination or the impact of non-recurring items directly related to the business combination.

The unaudited pro forma results are not necessarily indicative of the operating results that would have occurred if the Filament acquisition had been completed as of the date for which the pro forma financial information is presented. In addition, the unaudited pro forma results do not purport to project the future consolidated operating results of the combined company.

	Year ended December 31,
	2018			2017
	(In thousands, except per share data)
Net sales	$	730,353		$	747,549
Income before income taxes and equity in earnings		2,439			14,151
Net (loss) income		(267	)		5,794
Diluted (loss) income per common share	$	(0.01	)	$	0.28

Fitz and Floyd

On August 31, 2017, the Company acquired the Fitz and Floyd business, including the trade names and related working capital, from Fitz and Floyd Enterprises, LLC (“Fitz”) for cash in the amount of $9.1 million. The purchase price was funded by borrowings under the Company’s revolving credit facility.

The assets and operating results of the Fitz and Floyd business are reflected in the Company’s consolidated financial statements in accordance with ASC Topic 805 commencing from the date of the acquisition of Fitz. The consolidated statement of operations for the year ended December 31, 2017 includes

$7.7 million of net sales attributable to the Fitz and Floyd brands.

The purchase price was allocated based on the Company’s estimate of the fair values of the assets acquired and liabilities assumed, as follows (in thousands):

Accounts Receivable	$	3,115
Inventory		5,424
Other assets		458
Other liabilities		(2,056	)
Goodwill and other intangibles		2,131
Total allocated value	$	9,072

On the basis of estimated fair values, the excess of the purchase price over the net assets acquired of $2.1 million has been allocated as follows: $1.7 million for customer relationships and trade names and $0.4 million for goodwill. The goodwill recognized results from such factors as an assembled workforce and the value of other synergies expected from combining operations with the Company. All the goodwill and other intangibles are included in the U.S. segment. Customer relationships and trade names are amortized on a straight-line basis over their estimated useful lives (see Note F- Goodwill and Intangible Assets).

Focus

In September 2016, the Company acquired the Amco Houseworks

, Chicago™ Metallic and Swing-A-Way

kitchenware and bakeware brands, together with their related inventory, from Focus Products Group International, LLC (“Focus”) for cash in the amount of $8.8 million. The assets and operating results of the Focus brands are reflected in the Company’s consolidated financial statements in accordance with ASC Topic 805,

commencing from the date of the acquisition of Focus

. The consolidated statement of operations for the year ended December 31, 2016 includes $3.6 million of net sales attributable to the Focus brands. The purchase price was allocated based on the Company’s estimate of the fair values of the assets acquired, including inventory ($3.5 million) and customer relationships and trade names ($5.3 million). Customer relationships and trade names are amortized on a straight-line basis over their estimated useful lives of 15 years.

Copco

In October 2016, the Company acquired the Copco

product line from Wilton Industries, Inc., for cash in the amount of $12.3

million. The product line includes thermal and hydration beverageware, tea kettles and kitchen organization products. The assets and operating results of the Copco

brands are reflected in the Company’s consolidated financial statements in accordance with ASC Topic 805, commencing from the date of the acquisition of the Copco

brands. The consolidated statement of operations for the year ended December 31, 2016 includes

$3.9 million of net sales attributable to the Copco

brands. The purchase price was allocated based on the Company’s estimate of the fair values of the assets acquired, including inventory ($3.9 million) and customer relationships and trade names ($8.4 million). Customer relationships and trade names are amortized on a straight-line basis over their estimated useful lives of 15 and 10 years, respectively.

SALE OF ACCOUNTS RECEIVABLE

12 Months Ended

Dec. 31, 2018

SALE OF ACCOUNTS RECEIVABLE

NOTE D — SALE OF ACCOUNTS RECEIVABLE

In order to improve its liquidity during seasonally high working capital periods, in 2016 the Company entered into an uncommitted Receivables Purchase Agreement with HSBC Bank USA, National Association (“

HSBC Bank USA

”), as Purchaser (the “Receivables Purchase Agreement”). Under the Receivables Purchase Agreement, the Company may offer to sell certain eligible accounts receivable (the “Receivables”) to

HSBC Bank USA

, which may accept such offer, and purchase the offered Receivables. Under the Receivables Purchase Agreement, following each purchase of Receivables, the outstanding aggregate purchased Receivables shall not exceed $25.0 million.

HSBC Bank USA

will assume credit risk of the Receivables purchased; provided, however, that the Company will continue to be responsible for all non-credit risk matters. The Company will service the Receivables, and as such servicer, collect and otherwise enforce the Receivables on behalf of

HSBC Bank USA

The term of the agreement is for

364

days and shall

automatically be extended for annual successive terms unless terminated

. Either party may terminate the agreement at any time upon sixty days’ prior written notice to the other party.

Pursuant to this agreement, the Company sold $86.0 million and $90.2 million of Receivables during the years ended December 31, 2018 and 2017, respectively. At December 31, 2018 and 2017, $

18.0

million and $

16.4

million, respectively, of receivables sold are outstanding and are due to

HSBC Bank USA

from customers. A charge of $453,000 and $328,000 related to the sale of the Receivables is included in selling, general and administrative expenses in the consolidated statement of operations for the years ended December 31, 2018 and 2017, respectively.

EQUITY INVESTMENTS

12 Months Ended

Dec. 31, 2018

EQUITY INVESTMENTS

NOTE E — EQUITY INVESTMENTS

The Company owns approximately 30% of the outstanding capital stock of Grupo Vasconia, S.A.B. (“Vasconia”) an integrated manufacturer of aluminum products and one of Mexico’s largest housewares companies. Shares of Vasconia’s capital stock are traded on the Bolsa Mexicana de Valores, the Mexican Stock Exchange. The Quotation Key is VASCONI. The Company accounts for its investment in Vasconia using the equity method of accounting and records its proportionate share of Vasconia’s net income in the Company’s statement of operations. Accordingly, the Company has recorded its proportionate share of Vasconia’s net income (reduced for amortization expense related to the customer relationships acquired) for the years ended December 31, 2018, 2017 and 2016 in the accompanying consolidated statements of operations. The value of the Company’s investment balance has been translated from Mexican pesos (“MXN”) to U.S. dollars (“USD”) using the spot rate of MXN 19.64 and MXN 19.68 at December 31, 2018 and 2017, respectively. The Company’s proportionate share of Vasconia’s net income has been translated from MXN to USD using the average exchange rates of MXN 18.71 to 19.81, MXN 17.81 to 20.30 and MXN 18.02 to 19.85,

during the years ended December 31, 2018, 2017 and 2016, respectively. The effect of the translation of the Company’s investment, as well as the translation of Vasconia’s balance sheet, resulted in a decrease of the investment of $1.9 million during the year ended December 31, 2018 and an

increase of the investment of $1.0 million during the year ended December 31, 2017. These translation effects are recorded in accumulated other comprehensive loss. The Company received cash dividends of $115,000, $28,000 and $205,000, from Vasconia during the years ended December 31, 2018, 2017 and 2016, respectively. Included in prepaid expenses and other current assets at December 31, 2018 and 2017 was $95,000 and $64,000, respectively, due from Vasconia.

Summarized income statement information for the years ended December 31, 2018, 2017 and 2016, as well as summarized balance sheet information as of December 31, 2018 and 2017, for Vasconia, calculated in accordance with U.S. GAAP, in USD and MXN is as follows:

	Year Ended December 31,
	2018				2017				2016
	(in thousands)
	USD		MXN		USD		MXN		USD		MXN
Income Statement
Net sales	$	179,547	$	3,456,852	$	167,283	$	3,157,671	$	149,533	$	2,795,009
Gross profit		36,891		711,941		34,626		655,186		27,205		510,617
Income from operations		11,402		222,115		10,475		199,170		5,611		105,334
Net income		2,887		57,590		1,164		23,983		3,491		68,230

	December 31,
	2018				2017
	(in thousands)
	USD		MXN		USD		MXN
Balance Sheet
Current assets	$	96,135	$	1,888,602	$	91,157	$	1,793,832
Non-current assets		86,279		1,694,969		87,900		1,729,745
Current liabilities		64,831		1,273,619		50,766		998,993
Non-current liabilities		32,261		633,772		39,147		770,352

The Company recorded equity in earnings of Vasconia, net of taxes, of $0.9 million, $0.4 million and $0.6 million for the years ended December 31, 2018, 2017 and 2016,

respectively. Equity in earnings in 2018 includes $0.1 million net deferred tax benefit due to a change in the tax basis of the investment as a result of the Tax Act. Equity in earnings in 2017 and 2016 includes deferred tax benefit (expense) of

$0.2 million and ($0.5) million, respectively, due to the requirement to record tax benefits for foreign currency translation losses through other comprehensive income (loss), with a corresponding adjustment to deferred tax liabilities.

As of December 31, 2018, the fair value (based upon the quoted stock price) of the Company’s investment in Vasconia was $31.9 million. The carrying value of the Company’s investment in Vasconia was $22.6 million.

In February 2012, the Company entered into a joint venture, Grand Venture Holdings Limited (“Grand Venture”), with Manweal Development Limited (“Manweal”), a Chinese corporation, to distribute Mikasa

products in China, which included an initial investment by the Company of $500,000. The Company and Manweal each own 50% of Grand Venture and have rights and obligations proportionate to their ownership percentages. The Company accounts for its investment in Grand Venture using the equity method of accounting and has recorded its proportionate share of Grand Venture’s net loss as equity in earnings (losses) in the Company’s consolidated statements of operations. Due to the operating losses the Company evaluated the carrying value of its investment for other-than temporary impairment under the equity method of accounting and recorded an impairment charge of approximately $0.2 million during the year ended December 31, 2018. As of December 31, 2018 and 2017, the carrying value of the Company’s investment in Grand Venture was $0 and $228,000, respectively.

During the year ended December 31, 2016, the Company sold its 40% equity interest in GS Internacional S/A (“GSI”), a wholesale distributor of branded housewares products in Brazil. The Company initially acquired GSI in December 2011 and accounted for this investment using the equity method of accounting; however, impairment losses in 2014 reduced the investment balance to zero. Upon the sale of its equity interest in GSI the Company recognized a net gain of $189,000. This gain is included within equity in earnings (losses), net of tax, and represents the net consideration received of 2.3

million Brazilian reals

(approximately $567,000) reduced by currency translation losses of $378,000 recognized upon the sale of the equity interest in GSI.

GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2018

GOODWILL AND INTANGIBLE ASSETS

NOTE F — GOODWILL AND INTANGIBLE ASSETS

The Company’s intangible assets, all of which are included in the U.S. and International segments, consist of the following (in thousands):

	Year Ended December 31,
	2018										2017
	Gross		Impairment			Accumulated Amortization			Net		Gross		Accumulated Amortization			Net
Goodwill	$	93,895	$	(2,205	)	$	—		$	91,690	$	15,772	$	—		$	15,772
Indefinite -lived intangible assets:
Trade names		58,216		—			—			58,216		7,616		—			7,616
Finite -lived intangible assets:
Licenses		15,847					(9,825	)		6,022		15,847		(9,375	)		6,472
Trade names		43,689					(13,965	)		29,724		33,368		(11,109	)		22,259
Customer relationships		175,482					(27,538	)		147,944		52,961		(16,966	)		35,995
Other		6,510					(1,259	)		5,251		1,165		(800	)		365
Total	$	393,639	$	(2,205	)	$	(52,587	)	$	338,847	$	126,729	$	(38,250	)	$	88,479

A summary of the activities related to the Company’s intangible assets for the years ended December 31, 2018, 2017 and 2016 consists of the following (in thousands):

	Intangible Assets			Goodwill			Total Intangible Assets and Goodwill
Goodwill and Intangible Assets, December 31, 2015	$	78,492		$	18,101		$	96,593
Acquisition of trade names		5,159			—			5,159
Acquisition of customer relationships		8,878			—			8,878
Acquisition of other intangible assets		50			—			50
Foreign currency translation adjustment		(11,400	)		(3,900	)		(15,300	)
Amortization		(6,161	)		—			(6,161	)
Goodwill and Intangible Assets, December 31, 2016		75,018			14,201			89,219
Acquisition of goodwill		—			434			434
Acquisition of trade names		1,134			—			1,134
Acquisition of customer relationships		563			—			563
Foreign currency translation adjustment		2,823			1,137			3,960
Amortization		(6,831	)		—			(6,831	)
Goodwill and Intangible Assets, December 31, 2017		72,707			15,772			88,479
Acquisition of goodwill		—			78,795			78,795
Acquisition of trade names		61,500						61,500
Acquisition of customer relationships		124,430						124,430
Acquisition of other intangible assets		5,367			—			5,367
Foreign currency translation adjustment		(1,524	)		(672	)		(2,196	)
Amortization		(15,323	)		—			(15,323	)
Impairment of goodwill		—			(2,205	)		(2,205	)
Goodwill and Intangible Assets, December 31, 2018	$	247,157		$	91,690		$	338,847

The weighted-average amortization periods for the Company’s finite-lived intangible assets as of December 31, 2018 are as follows:

	Years
Trade names		15
Licenses		33
Customer relationships		14
Other		10

Estimated amortization expense for each of the five succeeding fiscal years is as follows (in thousands):

Year ending December 31,
2019	$	16,841
2020		16,827
2021		16,349
2022		16,349
2023		16,309

Amortization expense for the years ended December 31, 2018, 2017 and 2016 was $15.3 million, $6.8 million and $6.2 million, respectively.

Annual indefinite-lived trade name impairment test

In 2018, the Company elected to first perform a qualitative assessment to determine if it was more likely than not that the fair values of the Company’s indefinite-lived trade names were less than the carrying values. The Company considered events and circumstances that could affect the significant inputs used to determine the fair values of the indefinite-lived trade names. Based on the qualitative assessment, the Company determined it was not more likely than not that the fair values of the Company’s indefinite-lived trade names were less than the carrying values as of October 1, 2018.

Goodwill impairment test

During the third quarter of 2018, the Company performed an interim impairment assessment of its European tableware business due to a decline in operating performance and reduced expectations for future cash flows. The impairment assessment resulted in a $2.2 million non-cash goodwill impairment charge.

The European tableware business is a reporting unit within the International segment. The fair value of the reporting unit was determined based on a combined income and market approach. The resulting fair value was approximately

% below the reporting unit’s carrying value.

The Company bypassed the optional qualitative impairment analysis for its reporting units with goodwill for its annual October 1, 2018 impairment test. Accordingly, the estimated fair value of each of the reporting units was determined using the income approach and market approach. The significant assumptions used under the income approach, or discounted cash flow method, are projected net sales, projected earnings before interest, tax, depreciation and amortization (“EBITDA”), terminal growth rates, and the cost of capital. Projected net sales, projected EBITDA and terminal growth rates were determined to be significant assumptions because they are three primary drivers of the projected cash flows in the discounted cash flow fair value model. Cost of capital was also determined to be a significant assumption as it is the discount rate used to calculate the current fair value of those projected cash flows. Under the income approach, the resultant estimated fair value of the reporting units exceeded their carrying value as of October 1, 2018.

As of October

2018

, the excess of fair value of the European kitchenware reporting unit, which carries goodwill of $

10.0

million, was approximately

% over its carrying value. Management’s projections used to estimate the cash flows include increasing net sales and operational improvements expected as a results of the consolidation of locations in the U.K. As a result of the European restructuring plan, the European kitchenware and tableware reporting units will be combined into one reporting unit as of January

2019

. Changes in any of the significant assumptions, including the identified restructuring activities used in the valuation of the reporting unit could materially affect the expected cash flows, and such impacts could potentially result in a material non-cash impairment charge.

As of October

2018

, the fair value of the U.S. reporting unit, which carries goodwill of approximately $

81.6

million was approximately

% over its carrying value. Management’s projections used to estimate fair value included increasing net

sales and the realization of the savings due to additional synergies expected from the Company’s acquisition of Filament. Changes in any of the significant assumptions used in the valuation of the reporting unit could materially affect the expected cash flows, and such impacts could potentially result in a material non-cash impairment

charge.

The Company is not currently aware of any negative changes in its assumptions that could lead to the fair value of the reporting units being less than the carrying value.

As of December 31, 2018, the Company assessed the carrying value of goodwill and determined based on qualitative factors, no impairment existed.

DEBT

12 Months Ended

Dec. 31, 2018

DEBT

NOTE G — DEBT

In March 2018, the Company entered into a credit agreement (the “ABL Agreement”) with JPMorgan Chase Bank, N.A. (“JPMorgan”), as administrative agent, and the lenders and issuing banks party thereto, evidencing a senior secured asset-based revolving credit facility provided to the Company in the maximum aggregate principal amount of $150.0 million, which facility will mature on March 2, 2023, and a new loan agreement (the “Term Loan” and together with the ABL Agreement, the “Debt Agreements”) with the Company, as the borrower and a guarantor, the other guarantors, JPMorgan, as administrative agent, Golub Capital LLC, as syndication agent, and the lenders party thereto, providing for a senior secured term loan credit facility to the Company in the original principal amount of $275.0 million, which will mature on February 28, 2025. The Term Loan requires quarterly payments of principal equal to 0.25% of the original aggregate principal amount of the term loan facility beginning June 30, 2018. The maximum borrowing amount under the ABL Agreement may be increased to up to $200.0 million if certain conditions are met. One or more tranches of additional term loans (the “Incremental Facilities”) may be added under the Term Loan if certain conditions are met. The Incremental Facilities may not exceed the sum of (i) $50.0 million, plus (ii) an unlimited amount so long as, in the case of (ii) only, the Company’s secured net leverage ratio, as defined in and computed pursuant to the Term Loan, is no greater than 3.75 to 1.00 subject to certain limitations and for the period defined pursuant to the Term Loan.

At December 31, 2018, borrowings outstanding under the ABL Agreement were $42.1 million, and open letters of credit were $3.4 million. At December 31 2018, availability under the ABL Agreement was approximately $104.5 million. Availability under the ABL Agreement depends on the valuation of certain current assets comprising the borrowing base. Due to the seasonality of the Company’s business, this may mean that the Company will have greater borrowing availability during the third and fourth quarters of each year. The borrowing capacity under the ABL Agreement will depend, in part, on eligible levels of accounts receivable and inventory that fluctuate regularly. Consequently, the $150.0 million commitment thereunder may not represent actual borrowing capacity at any given time.

At December 31, 2018, $272.9 million was outstanding under the Term Loan. At December 31, 2018, unamortized debt issuance costs of $1.5 million and $7.5 million offset the short-term and long-term outstanding balances, respectively, of the Term Loan.

As of December 31, 2018, the future principal payments of the Term Loan are as follows (in thousands):

2019	$	2,750
2020		2,750
2021		2,750
2022		2,750
2023		2,750
Thereafter		259,188
Total	$	272,938

The Company’s payment obligations under its Debt Agreements are unconditionally guaranteed by its existing and future U.S. subsidiaries, with certain minor exceptions. Certain payment obligations under the ABL Agreement are also direct obligations of its foreign subsidiary borrowers designated as such under the ABL Agreement and, subject to limitations on such guaranty, are guaranteed by the foreign subsidiary borrowers, as well as by the Company. The obligations of the Company under the Debt Agreements and any hedging arrangements and cash management services and the guarantees by its domestic subsidiaries in respect of those obligations are secured by substantially all of the assets and stock (but in the case of foreign subsidiaries, limited to 65% of the capital stock in first-tier foreign subsidiaries and not including the stock of subsidiaries of such first-tier foreign subsidiaries) owned by the Company and the U.S. subsidiary guarantors, subject to certain exceptions. Such security interest consists of (1) a first-priority lien, subject to certain permitted liens, with respect to certain assets of the Company and its domestic subsidiaries (the “ABL Collateral”) pledged as collateral in favor of lenders under the ABL Agreement and a second-priority lien in the ABL Collateral in favor of the lenders under the Term Loan and (2) a first-priority lien, subject to certain permitted liens, with respect to certain assets of the Company and its domestic subsidiaries (the “Term Loan Collateral”) pledged as collateral in favor of lenders under the Term Loan and a second-priority lien in the Term Loan Collateral in favor of the lenders under the ABL Agreement.

Borrowings under the revolving credit facility bear interest, at the Company’s option, at one of the following rates: (i) an alternate base rate, defined, for any day, as the greater of the prime rate, a federal funds and overnight bank funding based rate plus 0.5% or one-month LIBOR, plus 1.0%, plus a margin of 0.25% to 0.75%, or (ii) LIBOR plus a margin of 1.25% to 1.75%. The respective margins are based upon the Company’s total leverage ratio, as defined in and computed pursuant to the ABL Agreement. Interest rates on outstanding borrowings under the ABL Agreement at December 31, 2018 ranged from 2.4% to 6.25%. In addition, the Company paid a commitment fee of 0.375% on the unused portion of the ABL Agreement during 2018.

The Term Loan bears interest, at the Company’s option, at one of the following rates: (i) an alternate base rate, defined, for any day, as the greater of the prime rate, a federal funds and overnight bank funding based rate, plus 0.5% or one-month LIBOR (at the Company’s option), plus 1.0%, plus a margin of 2.50% or (ii) LIBOR plus a margin of 3.50%. The interest rate on outstanding borrowings under the Term Loan at December 31, 2018 was 6.0%.

The Debt Agreements provide for customary restrictions and events of default. Restrictions include limitations on additional indebtedness, acquisitions, investments and payment of dividends, among other things. Further, the ABL Agreement provides that during any period (a) commencing on the last day of the most recently-ended four consecutive fiscal quarters on or prior to the date that availability under the ABL Agreement is less than the greater of $15.0 million or 10% of the aggregate commitment under the ABL Agreement at any time and (b) ending on the day after such availability has exceeded the greater of $15.0 million or 10% of the aggregate commitment under the ABL Agreement for forty-five (45) consecutive days, the Company is required to maintain a minimum fixed charge coverage ratio of 1.10 to 1.00 as of the last day of any period of four consecutive fiscal quarters.

The Company was in compliance with the covenants of the Debt Agreements at December 31, 2018.

At December 31, 2017, borrowings outstanding under the Company’s former credit facility were $94.7 million and open letters of credit were $3.2 million. Availability under the former credit agreement was approximately $58.0 million at December 31, 2017. Upon entering into the Debt Agreements in March 2018 the Company repaid its outstanding borrowings under its former credit agreement. In connection therewith, debt issuance costs of $66,000 were written off.

Other Credit Agreements

A subsidiary of the Company has a credit facility (“HSBC Facility”) with HSBC Bank (China) Company Limited, Shanghai Branch (“HSBC”) for up to

18.0 million ($2.8

million) Chinese renminbi. The HSBC Facility is subject to annual renewal and may be used to fund general working capital needs of the Company’s subsidiary which is a trading company in the People’s Republic of China. Borrowings under the HSBC Facility are guaranteed by the Company and are granted at the sole discretion of HSBC. At December 31, 2018 there was no outstanding borrowings under the HSBC Facility. At December

31, 2017, 0.5 million ($69,000)

Chinese renminbi were outstanding under the HSBC

Facility.

DERIVATIVES

12 Months Ended

Dec. 31, 2018

DERIVATIVES

NOTE H — DERIVATIVES

The Company is a party to interest rate swap agreements, with an aggregate notional value of $125.0 million at December 31, 2018. The Company designated the interest rate swaps as cash flow hedges of the Company’s exposure to the variability of the payment of interest on a portion of its Term Loan borrowings. The hedge periods of these agreements commenced in April 2018 and expire in March 2023. The notional amounts are reduced over these periods.

The Company has also entered into certain foreign exchange contracts, primarily to offset the earnings impact related to fluctuations in foreign currency exchange rates associated with inventory purchases denominated in foreign currencies. The aggregate gross notional values of foreign exchange contracts at December 31, 2017 was

$34.9

million. No contracts are outstanding at December 31, 2018. These foreign exchange contracts have not been designated as hedges as required in order to apply hedge accounting. The changes in the fair values of these contracts are recorded in earnings immediately.

The fair values of the Company’s derivative financial instruments included in the consolidated balance sheets are presented as follows (in thousands):

		December 31,
Derivatives designated as hedging instruments	Balance Sheet Location	2018		2017
Interest rate swaps	Prepaid expenses	$	42	$	11
	Other assets		157		—

		December 31,
Derivatives not designated as hedging instruments	Balance Sheet Location	2018		2017
Foreign exchange contracts	Accrued Expenses	$	—	$	1,951

The fair value of the derivatives have been obtained from the counterparties to the agreements and were based on Level 2 observable inputs using proprietary models and estimates about relevant future market conditions.

The counterparties to the derivative financial instruments are major international financial institutions. The Company is exposed to credit risk for the net exchanges under these agreements, but not for the notional amounts. The Company does not anticipate non-performance by any of its counterparties.

The amounts of the gains and losses related to the Company’s derivative financial instruments designated as hedging instruments are recognized in other comprehensive income (loss) as follows (in thousands):

	Year ended December 31,
Derivatives designated as hedging instruments	2018		2017		2016
Interest rate swaps	$	161	$	17	$	17

During the year ended December 31, 2018 the Company recognized $0.4 million of interest expense related to the interest rate swaps. Gains or losses on the interest rate swaps will be reclassified into earnings as interest expense as the interest expense on the debt is recognized in earnings.

In connection with the financing transaction described in Note G – Debt, the Company settled its outstanding interest rate swaps, which had been accounted for as hedges and had an aggregate notional value of $5.3 million. The net gain at such time was reclassified into interest expense during the year ended December 31, 2018.

The amounts of the gains and losses related to the Company’s derivative financial instruments not designated as hedging instruments are recognized in earnings as follows (in thousands):

		Year Ended December 31,
Derivatives not designated as hedging instruments	Location of Gain or (Loss)	2018		2017		2016
Foreign exchange contracts	Selling, general and administrative expense	$	150	$	(2,592)	$	2,182

CAPITAL STOCK

12 Months Ended

Dec. 31, 2018

CAPITAL STOCK

NOTE I — CAPITAL STOCK

Cash dividends

Dividends were declared in 2018 and 2017 as follows:

Dividend per share	Date declared	Date of record	Payment date
$0.0425	March 8, 2017	May 1, 2017	May 15, 2017
$0.0425	June 22, 2017	August 1, 2017	August 15, 2017
$0.0425	August 4, 2017	November 1, 2017	November 15, 2017
$0.0425	November 7, 2017	February 1, 2018	February 15, 2018
$0.0425	March 8, 2018	May 1, 2018	May 15, 2018
$0.0425	June 28, 2018	August 1, 2018	August 15, 2018
$0.0425	July 31, 2018	November 1, 2018	November 15, 2018
$0.0425	November 7, 2018	February 1, 2019	February 15, 2019

On March 12, 2019, the Board of Directors declared a quarterly dividend of $0.0425 per share payable on May 15, 2019 to shareholders of record on May 1, 2019.

Stock repurchase program

On April 30, 2013, Lifetime’s Board of Directors authorized the repurchase of up to $10.0 million of the Company’s common stock. The repurchase authorization permits the Company to effect repurchases from time to time through open market purchases and privately negotiated transactions. No shares were repurchased during the years ended December 31, 2018, 2017 and 2016.

Preferred stock

The Company is authorized to issue 100 shares of Series A Preferred Stock and 2,000,000 shares of Series B Preferred Stock, none of which has been issued or is outstanding at December 31, 2018.

Long-term incentive plan

The Company’s Amended and Restated 2000 Long-Term Incentive Plan (the “Plan”) provides for the granting of awards of up to 6,187,500

shares of common stock. These shares of the Company’s common stock are available for grants to directors, officers, employees, consultants and service providers and affiliates in the form of stock options or other equity-based awards. The Plan authorizes the Board of Directors of the Company, or a duly appointed committee thereof, to issue incentive stock options, non-qualified options, restricted stock, performance-based awards and other stock-based awards. Options that have been granted under the Plan expire over a range of five to ten years from the date of grant and vest over a range of up to four years from the date of grant. Shares of restricted stock that have been granted under the Plan vest over a range of up to four years from the date of grant. Performance-based awards that have been granted under the Plan vest after three years based upon the attainment of specified performance goals. In June 2018, the shareholders of the Company approved an amendment to the Company’s Plan to revise the terms and conditions of Plan to, among other things, increase the shares available for grant under the plan by

900,000

shares. As of December 31, 2018, there were

946,109

shares available for the grant of awards under the Plan.

Stock options

A summary of the Company’s stock option activity and related information for the three years ended December 31, 2018, is as follows:

	Options			Weighted- average exercise price		Weighted- average remaining contractual life (years)		Aggregate intrinsic value
Options outstanding at December 31, 2015		2,242,202		$	14.28
Grants		66,850			15.44
Exercises		(272,325	)		9.01
Cancellations		(30,750	)		15.39
Expirations		(230,577	)		27.16
Options outstanding at December 31, 2016		1,775,400			13.44
Grants		125,750			17.38
Exercises		(300,000	)		11.34
Cancellations		(45,700	)		16.40
Expirations		(99,250	)		20.40
Options outstanding at December 31, 2017		1,456,200			13.64
Grants		205,750			13.56
Exercises		(58,000	)		4.93
Cancellations		(22,375	)		16.95
Expirations		(32,750	)		15.50
Options outstanding at December 31, 2018		1,548,825			13.87		4.2	$	450,500
Options exercisable at December 31, 2018		1,279,825		$	13.76		3.2	$	450,500

The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value that would have been received by the option holders had all option holders exercised their exercisable in-the-money stock options on December 31, 2018. The intrinsic value is calculated for each in-the-money stock option as the difference between the closing price of the Company’s common stock on December 31, 2018 and the exercise price.

The total intrinsic values of those stock options that were exercised in the years ended December 31, 2018, 2017 and 2016 were $361,000, $2,071,000 and $1,848,000, respectively. The intrinsic value of a stock option that is exercised is calculated at the date of exercise.

Total unrecognized stock option compensation expense at December 31, 2018, before the effect of income taxes, was $1.0 million and is expected to be recognized over a weighted-average period of 1.6 years.

The Company values stock options using the Black-Scholes option valuation model. The Black-Scholes option valuation model, as well as other available models, was developed for use in estimating the fair value of traded options, which have no vesting restrictions and are fully transferable. The Black-Scholes option valuation model requires the input of highly subjective assumptions including the expected stock price volatility and risk-free interest rate. Because the Company’s stock options have characteristics significantly different from those of traded options, changes in the subjective input assumptions can materially affect the fair value estimates of the Company’s stock options. The weighted-average per share grant date fair value of stock options granted during the years ended December 31, 2018, 2017 and 2016, was $4.47, $6.37 and $5.43, respectively.

The fair values for these stock options were estimated at the dates of grant using the following weighted-average assumptions:

	2018			2017			2016
Historical volatility		34	%		39	%		39	%
Expected term (years)		6.0			6.0			6.0
Risk-free interest rate		2.72	%		1.97	%		1.37	%
Expected dividend yield		1.22	%		0.98	%		1.10	%

Restricted Stock

A summary of the Company’s restricted stock activity and related information for the three years ended December 31, 2018 is as follows:

	Restricted Shares			Weighted- average grant date fair value
Non-vested restricted shares, December 31, 2015		101,435		$	14.77
Grants		109,170			15.64
Vested		(46,306	)		14.79
Cancellations		(2,475	)		14.93
Non-vested restricted shares, December 31, 2016		161,824			15.35
Grants		133,352			18.32
Vested		(69,795	)		15.39
Cancellations		(6,064	)		16.07
Non-vested restricted shares, December 31, 2017		219,317			17.12
Grants		223,884			13.25
Vested		(90,926	)		17.14
Cancellations		(25,730	)		14.96
Non-vested restricted shares, December 31, 2018		326,545		$	14.63
Total unrecognized compensation expense remaining	$	3,482,300
Weighted-average years expected to be recognized over		1.6

The total fair value of restricted stock that vested during the year ended December 31, 2018 was $1.1 million.

Performance shares

Each performance award represents the right to receive up to 150% of the target number of shares of common stock. The number of shares of common stock earned will be determined based on the attainment of specified performance goals at the end of the performance period, as determined by the Compensation Committee of the Board of Directors. The shares are subject to the terms and conditions of the Plan.

A summary of the Company’s performance-based award activity and related information for the three years ended December 31, 2018 is as follows:

	Performance - based ‎ awards (1)			Weighted- average grant date fair value
Non-vested performance -based awards, December 31, 2015		66,150		$	14.84
Grants		82,000			15.69
Cancellations		(2,188	)		14.94
Non-vested performance -based awards, December 31, 2016		145,962			15.32
Grants		87,000			18.45
Cancellations		(4,070	)		16.52
Non-vested performance -based awards, December 31, 2017		228,892			16.49
Grants		182,300			12.81
Vested		(58,888	)		14.84
Cancellations		(13,017	)		15.95
Non-vested performance -based awards, December 31, 2018		339,287		$	14.82
Total unrecognized compensation expense remaining	$	2,388,000
Weighted-average years expected to be recognized over		1.7

(1)	Represents the target number of shares to be issued for each performance-based award.

The total fair value of performance-based awards that vested during the year ended December 31, 2018 was $792,000.

On March 12, 2019, the Compensation Committee of the Board of Directors determined the performance goals set forth in the performance-based awards granted in 2016 were attained and 66,761 shares vested.

The Company recognized total stock compensation expense of $4.1 million for the year ended December 31, 2018, of which $0.7 million represents stock option compensation expense and $3.4 million represents restricted stock and performance-based compensation expense. The Company recognized total stock compensation expense of $3.4 million for the year ended December 31, 2017, of which $1.1 million represents stock option compensation expense and $2.3 million represents restricted stock and performance-based compensation expense. The Company recognized total stock compensation expense of $2.9 million for the year ended December 31, 2016, of which $1.4 million represents stock option compensation expense, $1.5 million represents restricted stock, including restricted stock granted to directors and performance-based compensation expense, and $32,000 represents stock awards.

INCOME TAXES

12 Months Ended

Dec. 31, 2018

INCOME TAXES

NOTE K — INCOME TAXES

The components of income before income taxes and equity in earnings are as follows:

	Year Ended December 31,
	2018			2017			2016
	(in thousands)
Domestic	$	5,455		$	17,728		$	22,114
Foreign		(4,946	)		(6,949	)		(112	)
Total income before income taxes and equity in earnings	$	509		$	10,779		$	22,002

The provision for income taxes (before equity in earnings) consists of:

	Year Ended December 31,
	2018			2017		2016
	(in thousands)
Current:
Federal	$	775		$	7,041	$	8,000
State and local		351			957		498
Foreign		(323	)		4		483
Deferred		2,086			1,030		(1,951	)
Income tax provision	$	2,889		$	9,032	$	7,030

On December

2017

, the Tax Act was enacted. The Tax Act revises the U.S. corporate income tax by, among other things, lowering the corporate income tax rate from

% to

%, adopting a quasi-territorial income tax system, imposing a one-time transition tax on foreign unremitted earnings, and setting limitations on the deductibility of certain costs (e.g., interest expense). For the year ended December

2017

, the Company accrued $

338,000

of tax expense for the Tax Act’s one-time transition tax on the Company’s material wholly owned foreign subsidiaries’ accumulated, unremitted earnings and $

3.0

million in provisional expense related to the net change in deferred tax assets stemming from the Tax Act’s reduction of the U.S. federal tax rate from

% to

In response to the Act, the U.S. Securities and Exchange Commission (“SEC”) provided guidance by issuing Staff Accounting Bulletin No. 118 (“SAB 118”), which has since been codified by the release of ASU No. 2018- 05, Income Taxes (Topic 740): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118. ASU 2018-05 allows companies to record provisional amounts during a measurement period with respect to the impacts of the Act for which the accounting requirements under ASC Topic 740 are not complete, but a reasonable estimate has been determined. The measurement period under ASU 2018-05 ends when a company has obtained, prepared, and analyzed the information that was needed in order to complete the accounting requirements under ASC Topic 740, but cannot exceed one year.

As of December, 31, 2018, the Company has completed the accounting for the effects of the Act. The Company has included the impact of the Act on its annual effective tax rate and has recorded an additional provision of $

0.7

million primarily related to an adjustment to the estimated transition tax liability, including an uncertain tax position.

Since January 1, 2018, the Tax Act has subjected the Company to a tax on global intangible low-taxed income (“

GILTI

”) earned by certain foreign subsidiaries, base erosion anti-abuse tax (“BEAT”), foreign derived intangible income tax (“

FDII

”), and IRC Section 163(j) interest limitation (“Interest Limitation”). Entities can make an accounting policy election to either recognize deferred taxes for temporary basis differences expected to reverse as

GILTI

in future years or provide for the tax expense related to

GILTI

in the year the tax is incurred. The Company has elected to account for the

GILTI

tax as a current period expense. The Company did not have

GILTI

liability and was not subject to BEAT in 2018. The tax impact of

FDII

was immaterial. The Company incurred an Interest Limitation in 2018, resulting in a deferred tax asset related to interest carried forward of approximately $1.0 million.

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes.

Significant components of the Company’s deferred income tax assets and (liabilities) are as follows:

	December 31,
	2018		2017
	(in thousands)
Deferred income tax assets:
Deferred rent expense	$	3,504	$	2,212
Stock options		2,982		2,903
Inventory		1,446		970
Operating loss and non-deductible interest carry-forward		7,071		4,114
Accounts receivable allowances		734		264
Accrued compensation		1,026		623
Depreciation and amortization		—		247
Other		1,753		1,882
Total deferred income tax assets	$	18,516	$	13,215

Deferred income tax liabilities:
Fixed assets	$	(2,540	)	$	—
Intangibles		(27,534	)		(8,732	)
Equity in earnings		—			(56	)
Total deferred income tax liabilities		(30,074	)		(8,788	)
Net deferred income tax (liability) asset		(11,558	)		4,427
Valuation allowance		(2,850	)		(3,024	)
Net deferred income tax (liability) asset	$	(14,408	)	$	1,403

As of December 31, 2018, a preliminary net deferred tax liability of $13.9 million was recorded in purchase accounting in connection with the Filament acquisition, including uncertain tax positions of $0.3 million. The Company continues to assess the tax accounting consideration under business combination accounting which concludes during the first quarter of 2019.

The Company has generated various state net operating loss carryforwards of which $24.9 million remained at December 31, 2018 that begin to expire in

2026.

The Company has net operating losses in foreign jurisdictions of $15.9 million at December 31, 2018 that begin to expire in

2020. The Company also has U.S. losses of $5.3 million that can be carried forward indefinitely and are subject to IRC section 382 limitations.

The provision for income taxes (before equity in earnings) differs from the amounts computed by applying the applicable federal statutory rates as follows:

	Year Ended December 31,
	2018			2017			2016
Provision for federal income taxes at the statutory rate		21.0	%		35.0	%		35.0	%
Increases (decreases):
State and local income taxes, net of Federal income tax benefit		97.4			6.1			3.6
Foreign rate differences		(110.3	)		7.2			(7.9	)
Non-deductible expenses		228.5			3.7			3.4
Tax Act- revaluation of net deferred tax assets and other		16.8			27.7			—
Tax Act- transition tax		43.0			3.1			—
Uncertain tax positions		302.8			0.6			—
Research and development credit		(18.5	)		—			—
Federal return to provision		(27.5	)		—			—
Other		14.4			0.4			(2.1	)
Provision for income taxes		567.6	%		83.8	%		32.0	%

The estimated values of the Company’s gross uncertain tax positions at December 31, 2018, 2017 and 2016 are liabilities of $2.0 million, $161,000 and $109,000, respectively, and consist of the following:

	Year Ended December 31,
	2018			2017			2016
	(in thousands)
Balance at January 1	$	(161	)	$	(109	)	$	(157	)
Additions based on tax positions related to the current year		(626	)		(82	)		—
Additions based on tax positions related to the prior year		(1,302	)		—			—
Reductions for tax position of prior years		114			30			—
Settlements		—			—			48
Balance at December 31	$	(1,975	)	$	(161	)	$	(109	)

The Company had approximately $29,000 and

$24,000, net of federal and state tax benefit, accrued at December 31, 2018 and 2017, respectively, for the payment of interest. The Company’s policy for recording interest and penalties is to record such items as a component of the provision for income taxes.

If the Company’s tax positions are ultimately sustained, the Company’s liability, including interest, would be reduced by $2.0 million, all of which would impact the Company’s tax provision. On a quarterly basis, the Company evaluates its tax positions and revises its estimates accordingly. The Company believes that it is reasonably possible that none of its tax positions will be resolved within the next twelve months.

The Company is no longer subject to U.S. Federal income tax examinations for the years prior to 2015. The Company has identified the following jurisdictions as “major” tax jurisdictions:

U.S. Federal, California, Massachusetts, Georgia, New Jersey, New Mexico, Texas and the United Kingdom.

At December 31, 2018, the periods subject to examination by the Company’s major state jurisdictions are generally for the years ended 2014 through 2017

. In certain jurisdictions Filament may have additional periods subject to examination.

BUSINESS SEGMENTS

12 Months Ended

Dec. 31, 2018

BUSINESS SEGMENTS

NOTE L

—

BUSINESS SEGMENTS

Segment information

The Company has two reportable segments, U.S. and International. Prior to October 1, 2018, the U.S. segment was reported as two separate reportable segments, U.S. Wholesale and Retail Direct. The Company changed its reporting structure to reflect how the Company is managing its operations as well as what the chief operating decision maker reviews to make organizational decisions about resource allocations. Prior period segment information has been recast to reflect the current reportable segment structure of the Company.

The Company has segmented its operations to reflect the manner in which management reviews and evaluates the results of its operations. The U.S. segment includes the Company’s primary domestic business that designs, markets and distributes its products to retailers, distributors and its internet websites. The International Segment consists of certain business operations conducted outside the U.S. Management evaluates the performance of the U.S. and International segments based on net sales and income (loss) from operations. Such measures give recognition to specifically identifiable operating costs such as cost of sales, distribution expenses and selling, general and administrative expenses. Certain general and administrative expenses, such as senior executive salaries and benefits, stock compensation, director fees and accounting, legal fees and consulting fees, are not allocated to the specific segments and are reflected as unallocated corporate expenses.

	Year Ended December 31,
	2018			2017			2016
	(in thousands)
Net sales:
U.S.	$	611,973		$	481,719		$	491,549
International		92,569			97,757			101,070
Total net sales	$	704,542		$	579,476		$	592,619
Income from operations:
U.S. (1)	$	44,213		$	39,341		$	40,515
International (2)		(5,395	)		(6,984	)		3,052
Unallocated corporate expenses		(20,239	)		(17,177	)		(16,490	)
Total income from operations	$	18,579		$	15,180		$	27,077
Depreciation and amortization:
U.S. (3)	$	18,840		$	10,004		$	10,231
International		4,489			4,185			3,917
Total depreciation and amortization	$	23,329		$	14,189		$	14,148
Capital expenditures:
U.S.	$	7,746		$	4,176		$	2,956
International		156			2,135			424
Total capital expenditures	$	7,902		$	6,311		$	3,380

(1)

In 2018 and 2016, income from operations for the U.S. segment includes $2.1 million and $2.4 million, respectively, of restructuring expenses related to the Filament integration and the U.S. restructuring plan, respectively, as described in Note A – Significant Accounting Policies. The 2016 period also includes a $1.2 million charge to correct prior years’ depreciation of certain assets within the U.S. segment.

(2)	In 2018 and 2017 income from operations for the International segment includes $0.2 million and $1.0 million of restructuring expenses related to the integration of entities in Europe, as described in Note A – Significant Accounting Policies.

(3)	The 2016 period includes a $1.2 million charge to correct prior years’ depreciation of certain assets within the U.S. segment.

	December
	2018		2017
	(in thousands)
Assets:
U.S.	$	604,532	$	282,011
International		94,210		105,984
Unallocated/ corporate/ other		9,830		13,526
Total assets	$	708,572	$	401,521

	Year Ended December
	2018			2017
	(in thousands)
Goodwill:
U.S.
Beginning balance	$	2,846		$	2,412
Acquisition activity		78,795			434
Ending balance		81,641			2,846
International
Beginning balance		12,926			11,789
Foreign currency translation adjustment		(672	)		1,137
Impairment		(2,205	)		—
Ending balance		10,049			12,926
Total goodwill	$	91,690		$	15,772

Geographical information

The following table sets forth long-lived assets by the major geographic locations:

	December,
	2018		2017
	(in thousands)
Long-lived assets, excluding intangible assets, at period-end:
United States	$	47,812	$	45,285
United Kingdom		1,896		2,779
Rest of World		480		729
Total	$	50,188	$	48,793

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2018

COMMITMENTS AND CONTINGENCIES

NOTE M — COMMITMENTS AND CONTINGENCIES

Operating leases

The Company has lease agreements for its corporate headquarters, distribution centers, showrooms and sales offices that expire through 2029. These leases generally provide for, among other things, annual base rent escalations and additional rent for real estate taxes and other costs.

Future minimum payments under non-cancelable operating leases are as follows (in thousands):

Year Ending December 31 ,
2019	$	16,238
2020		14,898
2021		14,498
2022		14,744
2023		14,589
Thereafter		62,698
Total	$	137,665

Future minimum lease payments exclude payments for leases that have not yet commenced.

Rent and related expenses under operating leases were $18.4 million, $16.8 million and $16.6 million for the years ended December 31, 2018, 2017 and 2016, respectively.

Royalties

The Company has license agreements that require the payment of royalties on

sales of licensed products which expire through

2023

. Future minimum royalties payable under these agreements are as follows (in thousands):

Year ending December 31 ,
2019	$	7,927
2020		8,485
2021		8,942
2022		926
2023		156
Thereafter		—
Total	$	26,436

Legal proceedings

Wallace Silversmiths de Puerto Rico, Ltd. (“WSPR”), a wholly-owned subsidiary of the Company, operates a manufacturing facility in San Germán, Puerto Rico that is leased from the Puerto Rico Industrial Development Company (“PRIDCO”). In March 2008, the United States Environmental Protection Agency (the “EPA”) announced that the San Germán Ground Water Contamination site in Puerto Rico (the “Site”) had been added to the Superfund National Priorities List due to contamination present in the local drinking water supply.

In May 2008, WSPR received from the EPA a Notice of Potential Liability and Request for Information pursuant to 42 U.S.C. Sections 9607(a) and 9604(e) of the Comprehensive Environmental Response, Compensation, and Liability Act (“CERCLA”). In July 2011, WSPR received a letter from the EPA requesting access to the property that it leases from PRIDCO to conduct an environmental investigation, and the Company granted such access. In February 2013, the EPA requested access to conduct a further environmental investigation at the property. PRIDCO agreed to such access and the Company consented. The EPA conducted a further investigation during 2013 and, in April 2015, notified the Company and PRIDCO that the results from vapor intrusion sampling may warrant the implementation of measures to mitigate potential exposure to sub-slab soil gas. The Company reviewed the information provided by the EPA and requested that PRIDCO, as the property owner, find and implement a solution acceptable to the EPA. While

WSPR did not cause the sub-surface condition that resulted in the potential for vapor intrusion, in order to protect the health of its employees and continue its business operations, it has nevertheless implemented corrective action measures to prevent vapor intrusion, such as sealing the floors of the building and conducting periodic air monitoring to address potential exposure. On August 13, 2015, the EPA released its remedial investigation and feasibility study (“RI/FS”) for the Site. On December 11, 2015, the EPA issued the Record of Decision (“ROD”) for an initial operable unit, electing to implement its preferred remedy which consists of soil vapor extraction and dual-phase extraction/

in-situ

treatment. This selected remedy includes soil vapor extraction (“SVE”) to address soil (vadose zone) source areas at the Site, impermeable cover as necessary for the implementation of SVE, dual phase extraction in the shallow saprolite zone, and

in-situ

treatment as needed to address residual sources. The EPA’s estimated capital cost for its selected remedy is $7.3 million. The EPA also designated a second operable unit under which the EPA has and will continue to conduct further investigations to determine the nature and extent of groundwater contamination, as well as a determination by the EPA on the necessity of any further response actions to address groundwater contamination.

In February 2017, the EPA indicated that it planned to expand its field investigation for the RI/FS to a second operable unit to further determine the nature and extent of the groundwater contamination at and from the Site and to determine the nature of the remedial action needed to address the contamination. The EPA has requested access to the property occupied by WSPR to install monitoring wells and to undertake groundwater sampling as part of this expanded investigation. WSPR has consented to the EPA’s access request, provided that the EPA receives PRIDCO’s consent, as the property owner. WSPR never used the primary contaminant of concern and did not take up its tenancy at the Site until after the EPA had discovered the contamination in the local water supply. The EPA has also issued notices of potential liability to a number of other entities affiliated with the Site, which used the contaminants of concern.

In December 2018, the Company, WSPR, and other identified Potentially Responsible Parties affiliated with the Site entered into tolling agreements to extend the statute of limitations for potential claims for the recovery of response costs for the initial operable unit under Section 107 of CERCLA. The tolling agreements do not constitute in any way an admission or acknowledgment of any fact, conclusion of law or liability by the parties to the agreements.

Accordingly, based on the above uncertainties and variables, it is not possible at this time for the Company to estimate its share of liability, if any, related to this matter. However, in the event of one or more adverse determinations related to this matter, it is possible that the ultimate liability resulting from this matter and the impact on the Company’s results of operations could be material.

The Company is, from time to time, involved in other legal proceedings. The Company believes that other current litigation is routine in nature and incidental to the conduct of the Company’s business and that none of this litigation, individually or collectively, would have a material adverse effect on the Company’s consolidated financial position, results of operations or cash flows.

Other Contingencies

The Company identified certain probable and estimable non-income tax exposure matters in connection with its acquisition of Filament and recorded an accrual of approximately

$1.9

million, including interest, associated with these matters.

OTHER

12 Months Ended

Dec. 31, 2018

OTHER

NOTE O — OTHER

Inventory

The components of inventory are as follows:

	December 31,
	2018		2017
	(in thousands)
Finished goods	$	165,969	$	125,355
Work in process		375		86
Raw materials		7,257		6,995
Total	$	173,601	$	132,436

Property and equipment

Property and equipment consist of:

	December 31,
	2018			2017
	(in thousands)
Machinery, furniture and equipment	$	106,525		$	91,282
Leasehold improvements		29,803			32,591
Building and improvements		770			787
Construction in progress		1,032			3,122
Land		100			100
		138,230			127,882
Less: accumulated depreciation and amortization		(112,468	)		(104,817	)
Total	$	25,762		$	23,065

Depreciation and amortization expense of property and equipment for the years ended December 31, 2018, 2017 and 2016 was $8.0 million, $6.6 million and $8.0 million, respectively

Included in machinery, furniture and equipment at each of December 31, 2018 and 2017 is $1.8 million and $2.0 million, respectively, related to assets recorded under capital leases. Included in accumulated depreciation and amortization at December 31, 2018 and December 31, 2017 is $1.7 million and $1.9 million, respectively, related to assets recorded under capital leases.

Accrued expenses

Accrued expenses consist of:

	December 31,
	2018		2017
	(in thousands)
Customer allowances and rebates	$	12,184	$	11,662
Compensation and benefits		9,065		9,613
Interest		243		191
Vendor invoices		3,487		4,027
Royalties		1,916		1,744
Commissions		1,557		786
Freight		4,160		4,002
Professional fees		2,473		3,160
VAT		79		1,176
Foreign exchange contracts		—		1,951
Restructuring		1,557		—
Other		8,735		5,809
Total	$	45,456	$	44,121

Deferred rent & other long-term liabilities

Deferred rent & other long-term liabilities consist of:

	December 31,
	2018		2017
	(in thousands)
Deferred rent liability	$	13,832	$	13,399
Retirement benefit obligations		6,169		6,829
Non-income tax liability		1,860		—
Royalty obligation		1,324		—
Other long term obligations		154		21
Total	$	23,339	$	20,249

Supplemental cash flow information

	Year Ended December 31,
	2018			2017		2016
	(in thousands)
Supplemental disclosure of cash flow information:
Cash paid for interest	$	16,319		$	3,791	$	4,171
Cash paid for taxes		2,599			12,936		6,384
Non-cash investing activities:
Translation adjustment	$	(5,906	)	$	7,823	$	(23,061	)

Components of accumulated other comprehensive loss, net

	Year Ended December 31,
	2018			2017			2016
	(in thousands)
Accumulated translation adjustment:
Balance at beginning of year	$	(27,821	)	$	(35,644	)	$	(12,961	)
Translation adjustment during period		(5,906	)		7,823			(23,061	)
Amounts reclassified from accumulated other comprehensive loss: (1)
Currency translation adjustment		—			—			378
Balance at end of year	$	(33,727	)	$	(27,821	)	$	(35,644	)
Accumulated deferred gains (losses) on cash flow hedges:
Balance at beginning of year	$	14		$	(3	)	$	(20	)
Amounts reclassified from accumulated other comprehensive loss: (2)
Settlement of cash flow hedge		(14	)		—			—
Derivative fair value adjustment, net of tax		161			17			17
Balance at end of year	$	161		$	14		$	(3	)
Accumulated effect of retirement benefit obligations:
Balance at beginning of year	$	(1,518	)	$	(1,352	)	$	(1,204	)
Net gain (loss) arising from retirement benefit obligations, net of tax		373			(228	)		(202	)
Amounts reclassified from accumulated other comprehensive loss:
Amortization of loss, net of tax (3)		95			62			54
Balance at end of year	$	(1,050	)	$	(1,518	)	$	(1,352	)

(1)	Amount is recorded in equity in earnings (losses) on the consolidated statements of operations.

(2)	Amounts reclassified are recorded in interest expense on the consolidated statement of operations.

(3)	Amount is recorded in selling, general and administrative expenses on the consolidated statements of operations.

SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2018

Basis of presentation

Principles of consolidation

The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.

Foreign currency

Revenue recognition

Cost of sales

Cost of sales consist primarily of costs associated with the production and procurement of product, inbound freight costs, purchasing costs, royalties and other product procurement related charges.

Distribution expenses

Advertising expenses

Accounts receivable

Inventory

Property and equipment

Cash equivalents

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

Concentration of credit risk

Concentrations of credit risk with respect to trade accounts receivable are limited due to the large number of entities comprising the Company’s customer base.

Fair value measurements

Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 820,

Fair Value Measurements and Disclosures

Fair value of financial instruments

Derivatives

The Company accounts for derivative instruments in accordance with ASC Topic 815,

Derivatives and Hedging

For derivatives that do not qualify or are not designated as hedging instruments for accounting purposes, changes in fair value are recorded in operations.

Goodwill, intangible assets and long-lived assets

Intangibles – Goodwill and Other

Income taxes

The Company applies the authoritative guidance for the financial statement recognition, measurement and disclosure of uncertain tax positions recognized in the Company’s financial statements

Share-based compensation

The Company accounts for its share-based compensation arrangements in accordance with ASC Topic 718,

Stock Compensation

Performance share awards are initially valued at the Company’s closing stock price on the date of grant. Each performance award represents the right to receive up to 150%

Employee healthcare

Restructuring expenses

million of Filament

restructuring charges, primarily related to severance, of which $1.4

million is accrued at December 31, 2018.

During the years ended December 31, 2018 and 2017, the Company incurred $0.2 million and

$1.0

$1.5

million of restructuring and integration charges in 2019. At December 31, 2018, $0.2 million of restructuring charges related to the European restructuring plan were accrued.

Commitments and Contingencies

Adopted Accounting Pronouncements

Effective January 1, 2018, the Company adopted Accounting Standards Update (“ASU”) 2017-01,

Clarifying the Definition of a Business

Effective January 1, 2018, the Company adopted ASC Topic 606,

Revenue from Contracts with Customers

Effective January 1, 2018, the Company adopted ASU 2017-12,

Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities,

Effective September 30, 2018, the Company adopted ASU 2017-04,

Intangibles – Goodwill and Other (Topic 350):

Simplifying the Test for Goodwill Impairment

Accounting Pronouncements to be Adopted in Future Periods

Accounting pronouncements to be adopted in future periods

In February 2018, the FASB issued ASU 2018-02,

Income Statement- Reporting Comprehensive Income: Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income

In August 2016, the FASB issued ASU 2016-15,

Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments

In February 2016, the FASB issued ASU 2016-02,

Leases (Topic 842),

ACQUISITIONS (Tables)

12 Months Ended

Dec. 31, 2018

Filament

Summary of Purchase Price

The purchase price, as adjusted, has been determined to be as follows (in thousands):

Cash	$	217,511
Share consideration		76,905
Total purchase price	$	294,416

Summary of Purchase Price Allocated Based on Estimated Fair Value of Assets and Liabilities

The purchase price was allocated based on the Company’s preliminary estimate of the fair value of the assets acquired and liabilities assumed, as follows (in thousands):


Accounts receivable	$	26,224
Inventory		29,444
Other assets		5,620
Other liabilities		(22,449	)
Deferred income tax		(13,877	)
Goodwill and other intangibles		269,454

Total allocated value	$	294,416

Summary of Pro Forma Consolidated Net Sales and Income (Loss) Before Income Taxes and Equity in Earnings

	Year ended December 31,
	2018			2017
	(In thousands, except per share data)
Net sales	$	730,353		$	747,549
Income before income taxes and equity in earnings		2,439			14,151
Net (loss) income		(267	)		5,794
Diluted (loss) income per common share	$	(0.01	)	$	0.28

Fitz and Floyd Business [Member]

Summary of Purchase Price Allocated Based on Estimated Fair Value of Assets and Liabilities

The purchase price was allocated based on the Company’s estimate of the fair values of the assets acquired and liabilities assumed, as follows (in thousands):

Accounts Receivable	$	3,115
Inventory		5,424
Other assets		458
Other liabilities		(2,056	)
Goodwill and other intangibles		2,131
Total allocated value	$	9,072

EQUITY INVESTMENTS (Tables) - Grupo Vasconia S.A.B.

12 Months Ended

Dec. 31, 2018

Summarized Income Statement Information for Vasconia in USD and MXN

	Year Ended December 31,
	2018				2017				2016
	(in thousands)
	USD		MXN		USD		MXN		USD		MXN
Income Statement
Net sales	$	179,547	$	3,456,852	$	167,283	$	3,157,671	$	149,533	$	2,795,009
Gross profit		36,891		711,941		34,626		655,186		27,205		510,617
Income from operations		11,402		222,115		10,475		199,170		5,611		105,334
Net income		2,887		57,590		1,164		23,983		3,491		68,230

Summarized Balance Sheet Information for Vasconia in USD and MXN

	December 31,
	2018				2017
	(in thousands)
	USD		MXN		USD		MXN
Balance Sheet
Current assets	$	96,135	$	1,888,602	$	91,157	$	1,793,832
Non-current assets		86,279		1,694,969		87,900		1,729,745
Current liabilities		64,831		1,273,619		50,766		998,993
Non-current liabilities		32,261		633,772		39,147		770,352

GOODWILL AND INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2018

Components of Intangible Assets Included in Wholesale Segment

The Company’s intangible assets, all of which are included in the U.S. and International segments, consist of the following (in thousands):

	Year Ended December 31,
	2018										2017
	Gross		Impairment			Accumulated Amortization			Net		Gross		Accumulated Amortization			Net
Goodwill	$	93,895	$	(2,205	)	$	—		$	91,690	$	15,772	$	—		$	15,772
Indefinite -lived intangible assets:
Trade names		58,216		—			—			58,216		7,616		—			7,616
Finite -lived intangible assets:
Licenses		15,847					(9,825	)		6,022		15,847		(9,375	)		6,472
Trade names		43,689					(13,965	)		29,724		33,368		(11,109	)		22,259
Customer relationships		175,482					(27,538	)		147,944		52,961		(16,966	)		35,995
Other		6,510					(1,259	)		5,251		1,165		(800	)		365
Total	$	393,639	$	(2,205	)	$	(52,587	)	$	338,847	$	126,729	$	(38,250	)	$	88,479

Summary of Activities Relating to Intangible Assets

A summary of the activities related to the Company’s intangible assets for the years ended December 31, 2018, 2017 and 2016 consists of the following (in thousands):

	Intangible Assets			Goodwill			Total Intangible Assets and Goodwill
Goodwill and Intangible Assets, December 31, 2015	$	78,492		$	18,101		$	96,593
Acquisition of trade names		5,159			—			5,159
Acquisition of customer relationships		8,878			—			8,878
Acquisition of other intangible assets		50			—			50
Foreign currency translation adjustment		(11,400	)		(3,900	)		(15,300	)
Amortization		(6,161	)		—			(6,161	)
Goodwill and Intangible Assets, December 31, 2016		75,018			14,201			89,219
Acquisition of goodwill		—			434			434
Acquisition of trade names		1,134			—			1,134
Acquisition of customer relationships		563			—			563
Foreign currency translation adjustment		2,823			1,137			3,960
Amortization		(6,831	)		—			(6,831	)
Goodwill and Intangible Assets, December 31, 2017		72,707			15,772			88,479
Acquisition of goodwill		—			78,795			78,795
Acquisition of trade names		61,500						61,500
Acquisition of customer relationships		124,430						124,430
Acquisition of other intangible assets		5,367			—			5,367
Foreign currency translation adjustment		(1,524	)		(672	)		(2,196	)
Amortization		(15,323	)		—			(15,323	)
Impairment of goodwill		—			(2,205	)		(2,205	)
Goodwill and Intangible Assets, December 31, 2018	$	247,157		$	91,690		$	338,847

Weighted Average Amortization Periods for Finite Lived Intangible Assets

The weighted-average amortization periods for the Company’s finite-lived intangible assets as of December 31, 2018 are as follows:

	Years
Trade names		15
Licenses		33
Customer relationships		14
Other		10

Estimated Amortization Expense

Estimated amortization expense for each of the five succeeding fiscal years is as follows (in thousands):

Year ending December 31,
2019	$	16,841
2020		16,827
2021		16,349
2022		16,349
2023		16,309

DERIVATIVES (Tables)

12 Months Ended

Dec. 31, 2018

Fair Values of Derivative Financial Instruments Included in Unaudited Condensed Consolidated Balance Sheets

The fair values of the Company’s derivative financial instruments included in the consolidated balance sheets are presented as follows (in thousands):

		December 31,
Derivatives designated as hedging instruments	Balance Sheet Location	2018		2017
Interest rate swaps	Prepaid expenses	$	42	$	11
	Other assets		157		—

		December 31,
Derivatives not designated as hedging instruments	Balance Sheet Location	2018		2017
Foreign exchange contracts	Accrued Expenses	$	—	$	1,951

Gains and Losses Related to Derivative Financial Instruments Designated as Hedging Instruments

	Year ended December 31,
Derivatives designated as hedging instruments	2018		2017		2016
Interest rate swaps	$	161	$	17	$	17

Gains and Losses Related to Derivative Financial Instruments Not Designated as Hedging Instruments

The amounts of the gains and losses related to the Company’s derivative financial instruments not designated as hedging instruments are recognized in earnings as follows (in thousands):

		Year Ended December 31,
Derivatives not designated as hedging instruments	Location of Gain or (Loss)	2018		2017		2016
Foreign exchange contracts	Selling, general and administrative expense	$	150	$	(2,592)	$	2,182

CAPITAL STOCK (Tables)

12 Months Ended

Dec. 31, 2018

Cash Dividends Declared

Dividends were declared in 2018 and 2017 as follows:

Dividend per share	Date declared	Date of record	Payment date
$0.0425	March 8, 2017	May 1, 2017	May 15, 2017
$0.0425	June 22, 2017	August 1, 2017	August 15, 2017
$0.0425	August 4, 2017	November 1, 2017	November 15, 2017
$0.0425	November 7, 2017	February 1, 2018	February 15, 2018
$0.0425	March 8, 2018	May 1, 2018	May 15, 2018
$0.0425	June 28, 2018	August 1, 2018	August 15, 2018
$0.0425	July 31, 2018	November 1, 2018	November 15, 2018
$0.0425	November 7, 2018	February 1, 2019	February 15, 2019

Summary of Stock Option Activity and Related Information

A summary of the Company’s stock option activity and related information for the three years ended December 31, 2018, is as follows:

	Options			Weighted- average exercise price		Weighted- average remaining contractual life (years)		Aggregate intrinsic value
Options outstanding at December 31, 2015		2,242,202		$	14.28
Grants		66,850			15.44
Exercises		(272,325	)		9.01
Cancellations		(30,750	)		15.39
Expirations		(230,577	)		27.16
Options outstanding at December 31, 2016		1,775,400			13.44
Grants		125,750			17.38
Exercises		(300,000	)		11.34
Cancellations		(45,700	)		16.40
Expirations		(99,250	)		20.40
Options outstanding at December 31, 2017		1,456,200			13.64
Grants		205,750			13.56
Exercises		(58,000	)		4.93
Cancellations		(22,375	)		16.95
Expirations		(32,750	)		15.50
Options outstanding at December 31, 2018		1,548,825			13.87		4.2	$	450,500
Options exercisable at December 31, 2018		1,279,825		$	13.76		3.2	$	450,500

Fair Value Stock Options at Grant Date using Weighted Average Assumption

The fair values for these stock options were estimated at the dates of grant using the following weighted-average assumptions:

	2018			2017			2016
Historical volatility		34	%		39	%		39	%
Expected term (years)		6.0			6.0			6.0
Risk-free interest rate		2.72	%		1.97	%		1.37	%
Expected dividend yield		1.22	%		0.98	%		1.10	%

Summary of Restricted Stock Activity

A summary of the Company’s restricted stock activity and related information for the three years ended December 31, 2018 is as follows:

	Restricted Shares			Weighted- average grant date fair value
Non-vested restricted shares, December 31, 2015		101,435		$	14.77
Grants		109,170			15.64
Vested		(46,306	)		14.79
Cancellations		(2,475	)		14.93
Non-vested restricted shares, December 31, 2016		161,824			15.35
Grants		133,352			18.32
Vested		(69,795	)		15.39
Cancellations		(6,064	)		16.07
Non-vested restricted shares, December 31, 2017		219,317			17.12
Grants		223,884			13.25
Vested		(90,926	)		17.14
Cancellations		(25,730	)		14.96
Non-vested restricted shares, December 31, 2018		326,545		$	14.63
Total unrecognized compensation expense remaining	$	3,482,300
Weighted-average years expected to be recognized over		1.6

Summary of Performance-based Award Activity

A summary of the Company’s performance-based award activity and related information for the three years ended December 31, 2018 is as follows:

	Performance - based ‎ awards (1)			Weighted- average grant date fair value
Non-vested performance -based awards, December 31, 2015		66,150		$	14.84
Grants		82,000			15.69
Cancellations		(2,188	)		14.94
Non-vested performance -based awards, December 31, 2016		145,962			15.32
Grants		87,000			18.45
Cancellations		(4,070	)		16.52
Non-vested performance -based awards, December 31, 2017		228,892			16.49
Grants		182,300			12.81
Vested		(58,888	)		14.84
Cancellations		(13,017	)		15.95
Non-vested performance -based awards, December 31, 2018		339,287		$	14.82
Total unrecognized compensation expense remaining	$	2,388,000
Weighted-average years expected to be recognized over		1.7

(1)	Represents the target number of shares to be issued for each performance-based award.

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2018

Components of Income before Income Taxes

The components of income before income taxes and equity in earnings are as follows:

	Year Ended December 31,
	2018			2017			2016
	(in thousands)
Domestic	$	5,455		$	17,728		$	22,114
Foreign		(4,946	)		(6,949	)		(112	)
Total income before income taxes and equity in earnings	$	509		$	10,779		$	22,002

Provision for Income Taxes

The provision for income taxes (before equity in earnings) consists of:

	Year Ended December 31,
	2018			2017		2016
	(in thousands)
Current:
Federal	$	775		$	7,041	$	8,000
State and local		351			957		498
Foreign		(323	)		4		483
Deferred		2,086			1,030		(1,951	)
Income tax provision	$	2,889		$	9,032	$	7,030

Significant Components of Deferred Income Tax Assets

Significant components of the Company’s deferred income tax assets and (liabilities) are as follows:

	December 31,
	2018		2017
	(in thousands)
Deferred income tax assets:
Deferred rent expense	$	3,504	$	2,212
Stock options		2,982		2,903
Inventory		1,446		970
Operating loss and non-deductible interest carry-forward		7,071		4,114
Accounts receivable allowances		734		264
Accrued compensation		1,026		623
Depreciation and amortization		—		247
Other		1,753		1,882
Total deferred income tax assets	$	18,516	$	13,215

Significant Components of Net Deferred Income Tax Asset (Liability)

Deferred income tax liabilities:
Fixed assets	$	(2,540	)	$	—
Intangibles		(27,534	)		(8,732	)
Equity in earnings		—			(56	)
Total deferred income tax liabilities		(30,074	)		(8,788	)
Net deferred income tax (liability) asset		(11,558	)		4,427
Valuation allowance		(2,850	)		(3,024	)
Net deferred income tax (liability) asset	$	(14,408	)	$	1,403

Difference between Provision for Income Taxes and Amount Computed by Applying Federal Statutory Rates

The provision for income taxes (before equity in earnings) differs from the amounts computed by applying the applicable federal statutory rates as follows:

	Year Ended December 31,
	2018			2017			2016
Provision for federal income taxes at the statutory rate		21.0	%		35.0	%		35.0	%
Increases (decreases):
State and local income taxes, net of Federal income tax benefit		97.4			6.1			3.6
Foreign rate differences		(110.3	)		7.2			(7.9	)
Non-deductible expenses		228.5			3.7			3.4
Tax Act- revaluation of net deferred tax assets and other		16.8			27.7			—
Tax Act- transition tax		43.0			3.1			—
Uncertain tax positions		302.8			0.6			—
Research and development credit		(18.5	)		—			—
Federal return to provision		(27.5	)		—			—
Other		14.4			0.4			(2.1	)
Provision for income taxes		567.6	%		83.8	%		32.0	%

Estimated Values of Gross Uncertain Tax Positions

	Year Ended December 31,
	2018			2017			2016
	(in thousands)
Balance at January 1	$	(161	)	$	(109	)	$	(157	)
Additions based on tax positions related to the current year		(626	)		(82	)		—
Additions based on tax positions related to the prior year		(1,302	)		—			—
Reductions for tax position of prior years		114			30			—
Settlements		—			—			48
Balance at December 31	$	(1,975	)	$	(161	)	$	(109	)

BUSINESS SEGMENTS (Tables)

12 Months Ended

Dec. 31, 2018

Segment Reporting Information

	Year Ended December 31,
	2018			2017			2016
	(in thousands)
Net sales:
U.S.	$	611,973		$	481,719		$	491,549
International		92,569			97,757			101,070
Total net sales	$	704,542		$	579,476		$	592,619
Income from operations:
U.S. (1)	$	44,213		$	39,341		$	40,515
International (2)		(5,395	)		(6,984	)		3,052
Unallocated corporate expenses		(20,239	)		(17,177	)		(16,490	)
Total income from operations	$	18,579		$	15,180		$	27,077
Depreciation and amortization:
U.S. (3)	$	18,840		$	10,004		$	10,231
International		4,489			4,185			3,917
Total depreciation and amortization	$	23,329		$	14,189		$	14,148
Capital expenditures:
U.S.	$	7,746		$	4,176		$	2,956
International		156			2,135			424
Total capital expenditures	$	7,902		$	6,311		$	3,380

(1)

(2)	In 2018 and 2017 income from operations for the International segment includes $0.2 million and $1.0 million of restructuring expenses related to the integration of entities in Europe, as described in Note A – Significant Accounting Policies.

(3)	The 2016 period includes a $1.2 million charge to correct prior years’ depreciation of certain assets within the U.S. segment.

	December
	2018		2017
	(in thousands)
Assets:
U.S.	$	604,532	$	282,011
International		94,210		105,984
Unallocated/ corporate/ other		9,830		13,526
Total assets	$	708,572	$	401,521

	Year Ended December
	2018			2017
	(in thousands)
Goodwill:
U.S.
Beginning balance	$	2,846		$	2,412
Acquisition activity		78,795			434
Ending balance		81,641			2,846
International
Beginning balance		12,926			11,789
Foreign currency translation adjustment		(672	)		1,137
Impairment		(2,205	)		—
Ending balance		10,049			12,926
Total goodwill	$	91,690		$	15,772

Net Sales and Long-Lived Assets by Major Geographic Locations

The following table sets forth long-lived assets by the major geographic locations:

	December,
	2018		2017
	(in thousands)
Long-lived assets, excluding intangible assets, at period-end:
United States	$	47,812	$	45,285
United Kingdom		1,896		2,779
Rest of World		480		729
Total	$	50,188	$	48,793

OTHER (Tables)

12 Months Ended

Dec. 31, 2018

Components of Inventory

The components of inventory are as follows:

	December 31,
	2018		2017
	(in thousands)
Finished goods	$	165,969	$	125,355
Work in process		375		86
Raw materials		7,257		6,995
Total	$	173,601	$	132,436

Property and Equipment

Property and equipment consist of:

	December 31,
	2018			2017
	(in thousands)
Machinery, furniture and equipment	$	106,525		$	91,282
Leasehold improvements		29,803			32,591
Building and improvements		770			787
Construction in progress		1,032			3,122
Land		100			100
		138,230			127,882
Less: accumulated depreciation and amortization		(112,468	)		(104,817	)
Total	$	25,762		$	23,065

Accrued Expenses

Accrued expenses consist of:

	December 31,
	2018		2017
	(in thousands)
Customer allowances and rebates	$	12,184	$	11,662
Compensation and benefits		9,065		9,613
Interest		243		191
Vendor invoices		3,487		4,027
Royalties		1,916		1,744
Commissions		1,557		786
Freight		4,160		4,002
Professional fees		2,473		3,160
VAT		79		1,176
Foreign exchange contracts		—		1,951
Restructuring		1,557		—
Other		8,735		5,809
Total	$	45,456	$	44,121

Deferred Rent Other Long Term Liabilities

Deferred rent & other long-term liabilities consist of:

	December 31,
	2018		2017
	(in thousands)
Deferred rent liability	$	13,832	$	13,399
Retirement benefit obligations		6,169		6,829
Non-income tax liability		1,860		—
Royalty obligation		1,324		—
Other long term obligations		154		21
Total	$	23,339	$	20,249

Supplemental Cash Flow Information

Supplemental cash flow information

	Year Ended December 31,
	2018			2017		2016
	(in thousands)
Supplemental disclosure of cash flow information:
Cash paid for interest	$	16,319		$	3,791	$	4,171
Cash paid for taxes		2,599			12,936		6,384
Non-cash investing activities:
Translation adjustment	$	(5,906	)	$	7,823	$	(23,061	)

Components of Accumulated Other Comprehensive Loss, Net

Components of accumulated other comprehensive loss, net

	Year Ended December 31,
	2018			2017			2016
	(in thousands)
Accumulated translation adjustment:
Balance at beginning of year	$	(27,821	)	$	(35,644	)	$	(12,961	)
Translation adjustment during period		(5,906	)		7,823			(23,061	)
Amounts reclassified from accumulated other comprehensive loss: (1)
Currency translation adjustment		—			—			378
Balance at end of year	$	(33,727	)	$	(27,821	)	$	(35,644	)
Accumulated deferred gains (losses) on cash flow hedges:
Balance at beginning of year	$	14		$	(3	)	$	(20	)
Amounts reclassified from accumulated other comprehensive loss: (2)
Settlement of cash flow hedge		(14	)		—			—
Derivative fair value adjustment, net of tax		161			17			17
Balance at end of year	$	161		$	14		$	(3	)
Accumulated effect of retirement benefit obligations:
Balance at beginning of year	$	(1,518	)	$	(1,352	)	$	(1,204	)
Net gain (loss) arising from retirement benefit obligations, net of tax		373			(228	)		(202	)
Amounts reclassified from accumulated other comprehensive loss:
Amortization of loss, net of tax (3)		95			62			54
Balance at end of year	$	(1,050	)	$	(1,518	)	$	(1,352	)

(1)	Amount is recorded in equity in earnings (losses) on the consolidated statements of operations.

(2)	Amounts reclassified are recorded in interest expense on the consolidated statement of operations.

(3)	Amount is recorded in selling, general and administrative expenses on the consolidated statements of operations.

Significant Accounting Policies - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Schedule Of Significant Accounting Policies [Line Items]
Foreign currency gain/loss		$ 0.5	$ 3,000,000	$ 4,200,000
Freight-out expenses		14,500,000	11,500,000	11,000,000
Advertising expenses		4,400,000	3,400,000	3,700,000
Restructuring expenses		2,324,000	$ 1,024,000	$ 2,420,000
Restructuring Charges [Member]
Schedule Of Significant Accounting Policies [Line Items]
Accounts Payable and Accrued Liabilities, Current		0.2
Scenario, Forecast [Member]
Schedule Of Significant Accounting Policies [Line Items]
Restructuring expenses	$ 1,500,000
Adjustments for New Accounting Pronouncement [Member] \| Liability [Member]
Schedule Of Significant Accounting Policies [Line Items]
Adoption of accounting standards increase in assets and liabilities		104,500,000
Adjustments for New Accounting Pronouncement [Member] \| Assets [Member]
Schedule Of Significant Accounting Policies [Line Items]
Adoption of accounting standards increase in assets and liabilities		91,000,000
Employee severance
Schedule Of Significant Accounting Policies [Line Items]
Restructuring expenses		2,100,000
Restructuring Reserve		$ 1,400,000
Performance Shares
Schedule Of Significant Accounting Policies [Line Items]
Vesting period		3 years
Number of shares range percentage		150.00%
Wal-Mart Stores Inc \| Net sales \| Credit Concentration Risk
Schedule Of Significant Accounting Policies [Line Items]
Percentage of net sales		14.00%	15.00%	16.00%
Costco Wholesale Corporation \| Net sales \| Credit Concentration Risk
Schedule Of Significant Accounting Policies [Line Items]
Percentage of net sales				10.00%
Building and Improvements \| Minimum
Schedule Of Significant Accounting Policies [Line Items]
Property and equipment depreciated over estimated useful lives		30 years
Machinery, Furniture and Equipment \| Minimum
Schedule Of Significant Accounting Policies [Line Items]
Property and equipment depreciated over estimated useful lives		3 years
Machinery, Furniture and Equipment \| Maximum
Schedule Of Significant Accounting Policies [Line Items]
Property and equipment depreciated over estimated useful lives		10 years

Revenue - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disaggregation of Revenue [Line Items]
Shipping and handling revenue	$ 704,542	$ 579,476	$ 592,619
Shipping and Handling [Member]
Disaggregation of Revenue [Line Items]
Shipping and handling revenue	$ 3,500	$ 2,700	$ 2,600

Summary of Company's Revenue Disaggregated by Geographic Region and Revenue (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disaggregation of Revenue [Line Items]
Net Sales	$ 704,542	$ 579,476	$ 592,619
United States
Disaggregation of Revenue [Line Items]
Net Sales	575,158	460,788	472,962
United Kingdom
Disaggregation of Revenue [Line Items]
Net Sales	65,852	74,834	74,991
Rest of World
Disaggregation of Revenue [Line Items]
Net Sales	63,532	43,854	44,666
U.S. segment
Disaggregation of Revenue [Line Items]
Net Sales	611,973	481,719	491,549
U.S. segment \| Kitchenware
Disaggregation of Revenue [Line Items]
Net Sales	331,603	276,745	287,100
U.S. segment \| Tableware
Disaggregation of Revenue [Line Items]
Net Sales	169,709	152,846	155,961
U.S. segment \| Home Solutions
Disaggregation of Revenue [Line Items]
Net Sales	110,661	52,128	48,488
International segment
Disaggregation of Revenue [Line Items]
Net Sales	92,569	97,757	101,070
International segment \| Kitchenware
Disaggregation of Revenue [Line Items]
Net Sales	58,164	59,686	59,742
International segment \| Tableware
Disaggregation of Revenue [Line Items]
Net Sales	$ 34,405	$ 38,071	$ 41,328

Acquisitions - Additional Information (Detail) - USD ($) $ in Thousands			1 Months Ended		3 Months Ended	12 Months Ended
	Mar. 02, 2018	Aug. 31, 2017	Oct. 31, 2016	Sep. 30, 2016	Dec. 31, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Goodwill					$ 91,690	$ 91,690	$ 15,772	$ 14,201	$ 18,101
Selling, General and Administrative Expenses [Member]
Business Acquisition [Line Items]
Contingent Consideration Obligation Acquired						1,800
Fitz and Floyd Business
Business Acquisition [Line Items]
Business acquisition cash paid		$ 9,100
Net sales							$ 7,700
Goodwill and other intangibles		2,131
Goodwill		400
Inventory		5,424
Fitz and Floyd Business \| Customer Relationships and Trade Names
Business Acquisition [Line Items]
Estimated fair value of intangible assets acquired		$ 1,700
Amco Houseworks, Chicago Metallic and Swing-A-Way kitchenware and bakeware brands
Business Acquisition [Line Items]
Business acquisition cash paid				$ 8,800
Inventory				3,500
Amco Houseworks, Chicago Metallic and Swing-A-Way kitchenware and bakeware brands \| Customer Relationships and Trade Names
Business Acquisition [Line Items]
Estimated fair value of intangible assets acquired				$ 5,300
Intangible assets acquired, estimated useful life				15 years
Focus Products Group International, LLC
Business Acquisition [Line Items]
Net sales								3,600
Copco Product Line
Business Acquisition [Line Items]
Business acquisition cash paid			$ 12,300
Net sales								3,900
Inventory								3,900
Copco Product Line \| Customer Relationships
Business Acquisition [Line Items]
Estimated fair value of intangible assets acquired								$ 8,400
Intangible assets acquired, estimated useful life								15 years
Copco Product Line \| Trade Names
Business Acquisition [Line Items]
Intangible assets acquired, estimated useful life								10 years
Filament
Business Acquisition [Line Items]
Business acquisition cash paid	$ 217,511
Net sales						$ 128,800
Goodwill and other intangibles	269,454
Inventory	29,444
Business Acquisition, Date of Acquisition Agreement						Dec. 22, 2017
Business Acquisition, Effective Date of Acquisition						Mar. 02, 2018
Aggregate acquisition agreement amount	$ 294,416
Business acquisition, equity interest issued or issuable, number of shares	5,593,116
Business combination, consideration transferred, equity interests issued and issuable	$ 76,905
Increase or decrease in goodwill					$ 10,100

Summary of Purchase Price (Detail) - Filament $ in Thousands	Mar. 02, 2018 USD ($)
Business Acquisition [Line Items]
Cash	$ 217,511
Share consideration	76,905
Total purchase price	$ 294,416

Summary of Purchase Price Allocated Based on Estimated Fair Value of Assets and Liabilities (Detail) - USD ($) $ in Thousands	Mar. 02, 2018	Aug. 31, 2017
Filament
Business Acquisition [Line Items]
Accounts receivable	$ 26,224
Inventory	29,444
Other assets	5,620
Other liabilities	(22,449)
Deferred income tax	(13,877)
Goodwill and other intangibles	269,454
Total allocated value	$ 294,416
Fitz and Floyd Business
Business Acquisition [Line Items]
Accounts receivable		$ 3,115
Inventory		5,424
Other assets		458
Other liabilities		(2,056)
Goodwill and other intangibles		2,131
Total allocated value		$ 9,072

Summary of Pro Forma Consolidated Net Sales and Income (Loss) Before Income Taxes and Equity in Earnings (Detail) - Filament - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Net sales	$ 730,353	$ 747,549
Income before income taxes and equity in earnings	2,439	14,151
Net (loss) income	$ (267)	$ 5,794
Diluted (loss) income per common share	$ (0.01)	$ 0.28

Sale of Accounts Receivable - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
HSBC Bank [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Sale of receivables	$ 18,000,000	$ 16,400,000
Receivables purchase agreement
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables purchase agreement - description of arrangements	The term of the agreement is for 364 days and shall automatically be extended for annual successive terms unless terminated. Either party may terminate the agreement at any time upon sixty days’ prior written notice to the other party.
Agreement period	364 days
Agreement period, extension term			automatically be extended for annual successive terms unless terminated
Agreement termination, written notice period	60 days
Sale of receivables	$ 86,000,000	90,200,000
Receivables purchase agreement \| Selling, general and administrative expenses
Accounts, Notes, Loans and Financing Receivable [Line Items]
Charge related to sale of receivables	$ 453,000	$ 328,000
Receivables purchase agreement \| Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables purchase agreement - maximum borrowing			$ 25,000,000

Equity Investments - Additional Information (Detail) R$ in Millions	12 Months Ended
	Dec. 31, 2018 USD ($) $ / $	Dec. 31, 2017 USD ($) $ / $	Dec. 31, 2016 USD ($) $ / $	Dec. 31, 2016 BRL (R$) $ / $	Feb. 09, 2012 USD ($)
Schedule of Equity Method Investments [Line Items]
Equity in earnings (losses), net of taxes	$ 660,000	$ 407,000	$ 748,000
Currency translation losses recognized upon the sales of equity interest			$ (378,000)
Asset impairment charges	$ 200,000
GS Internacional S/A
Schedule of Equity Method Investments [Line Items]
Equity interest, percentage sold			40.00%	40.00%
Currency translation losses recognized upon the sales of equity interest			$ 378,000
Sales proceeds from disposal of equity method investment			567,000	R$ 2.3
Gain on disposal of equity method investment			189,000
Grupo Vasconia S.A.B.
Schedule of Equity Method Investments [Line Items]
Percentage of ownership in equity method investment	30.00%
Exchange rate at period end - MXN to USD \| $ / $	19.64	19.68
Increase (Decrease) in equity method investment	$ 1,900,000	$ 1,000,000
Cash dividend received	115,000	28,000	205,000
Equity in earnings (losses), net of taxes	900,000	400,000	600,000
Equity in earnings, deferred taxes	100,000	200,000	$ 500,000
Fair value of investment	31,900,000
Carrying value of investment	22,600,000
Grupo Vasconia S.A.B. \| Prepaid expenses and other current assets
Schedule of Equity Method Investments [Line Items]
Due from related party	$ 95,000	$ 64,000
Grupo Vasconia S.A.B. \| Transaction 02 \| Minimum
Schedule of Equity Method Investments [Line Items]
Average daily exchange rate for period - MXN to USD \| $ / $	18.71	17.81	18.02	18.02
Grupo Vasconia S.A.B. \| Transaction 02 \| Maximum
Schedule of Equity Method Investments [Line Items]
Average daily exchange rate for period - MXN to USD \| $ / $	19.81	20.30	19.85	19.85
Grand Venture
Schedule of Equity Method Investments [Line Items]
Percentage of ownership in equity method investment					50.00%
Carrying value of investment	$ 0	$ 228,000
Payment for equity method investment					$ 500,000

Summarized Statement of Income Information for Vasconia in USD and MXN (Detail) - Grupo Vasconia S.A.B. $ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018 USD ($)	Dec. 31, 2018 MXN ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2017 MXN ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2016 MXN ($)
Income Statement [Abstract]
Net sales	$ 179,547	$ 3,456,852	$ 167,283	$ 3,157,671	$ 149,533	$ 2,795,009
Gross profit	36,891	711,941	34,626	655,186	27,205	510,617
Income from operations	11,402	222,115	10,475	199,170	5,611	105,334
Net income	$ 2,887	$ 57,590	$ 1,164	$ 23,983	$ 3,491	$ 68,230

Summarized Balance Sheet Information for Vasconia in USD and MXN (Detail) - Grupo Vasconia S.A.B. $ in Thousands, $ in Thousands	Dec. 31, 2018 USD ($)	Dec. 31, 2018 MXN ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2017 MXN ($)
Balance Sheet
Current assets	$ 96,135	$ 1,888,602	$ 91,157	$ 1,793,832
Non-current assets	86,279	1,694,969	87,900	1,729,745
Current liabilities	64,831	1,273,619	50,766	998,993
Non-current liabilities	$ 32,261	$ 633,772	$ 39,147	$ 770,352

Components of Intangible Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Schedule of Intangible Assets Disclosure [Line Items]
Goodwill, Gross	$ 93,895	$ 15,772
Goodwill, Accumulated Amortization	(2,205)
Goodwill, Net	91,690	15,772	$ 14,201	$ 18,101
Indefinite-Lived Trade Names, Gross	58,216	7,616
Indefinite-Lived Trade Names, Net	58,216	7,616
Finite-Lived Intangible Assets, Gross		126,729
Intangible Assets, Gross (Including Goodwill)	393,639
Finite-Lived Intangible Assets, Accumulated Amortization	(52,587)	(38,250)
Goodwill, Accumulated Impairment	(2,205)
Intangible Assets, Net (Including Goodwill)	338,847	88,479	$ 89,219	$ 96,593
License
Schedule of Intangible Assets Disclosure [Line Items]
Finite-Lived Intangible Assets, Gross	15,847	15,847
Finite-Lived Intangible Assets, Accumulated Amortization	(9,825)	(9,375)
Finite-Lived Intangible Assets, Net	6,022	6,472
Trade Names
Schedule of Intangible Assets Disclosure [Line Items]
Finite-Lived Intangible Assets, Gross	43,689	33,368
Finite-Lived Intangible Assets, Accumulated Amortization	(13,965)	(11,109)
Finite-Lived Intangible Assets, Net	29,724	22,259
Customer Relationships
Schedule of Intangible Assets Disclosure [Line Items]
Finite-Lived Intangible Assets, Gross	175,482	52,961
Finite-Lived Intangible Assets, Accumulated Amortization	(27,538)	(16,966)
Finite-Lived Intangible Assets, Net	147,944	35,995
Other
Schedule of Intangible Assets Disclosure [Line Items]
Finite-Lived Intangible Assets, Gross	6,510	1,165
Finite-Lived Intangible Assets, Accumulated Amortization	(1,259)	(800)
Finite-Lived Intangible Assets, Net	$ 5,251	$ 365

Intangible Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
Intangible Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Intangible Assets
Intangible Assets, Beginning Balance	$ 72,707	$ 75,018	$ 78,492
Goodwill and intangible assets, Beginning Balance	88,479	89,219	96,593
Acquisition of goodwill	78,795	434
Foreign currency translation adjustment	(2,196)	3,960	(15,300)
Amortization	(15,323)	(6,831)	(6,161)
Impairment of goodwill	2,205
Goodwill and Intangible Assets, Ending Balance	338,847	88,479	89,219
Foreign currency translation adjustment	(1,524)	2,823	(11,400)
Amortization	(15,323)	(6,831)	(6,161)
Intangible Assets, Ending Balance	247,157	72,707	75,018
Goodwill
Beginning balance	15,772	14,201	18,101
Acquisition of goodwill	78,795	434
Foreign currency translation adjustment	(672)	1,137	(3,900)
Impairment	(2,205)
Ending balance	91,690	15,772	14,201
Trade Names
Intangible Assets
Acquisition of Intangible Assets	61,500	1,134	5,159
Acquisition of customer relationships	61,500	1,134	5,159
Customer Relationships
Intangible Assets
Acquisition of Intangible Assets	124,430	563	8,878
Acquisition of customer relationships	124,430	$ 563	8,878
Other
Intangible Assets
Acquisition of Intangible Assets	5,367		50
Acquisition of customer relationships	$ 5,367		$ 50

Weighted Average Amortization Period for Finite Lived Intangible Assets (Detail)	12 Months Ended
	Dec. 31, 2018
Trade Names
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, weighted-average amortization periods	15 years
License
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, weighted-average amortization periods	33 years
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, weighted-average amortization periods	14 years
Other
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, weighted-average amortization periods	10 years

Estimated Amortization Expense (Detail) $ in Thousands	Dec. 31, 2018 USD ($)
Schedule Of Estimated Future Amortization Expense [Line Items]
2019	$ 16,841
2020	16,827
2021	16,349
2022	16,349
2023	$ 16,309

Goodwill And Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Oct. 01, 2018	Dec. 31, 2015
Schedule of Intangible Assets Disclosure [Line Items]
Amortization expenses	$ 15,323	$ 6,831	$ 6,161
Goodwill impairment charges	$ 2,205
Reporting Unit Percentage Of Carrying Value In Excess Of Fair Value	12.00%
Goodwill	$ 91,690	$ 15,772	$ 14,201		$ 18,101
European Kitchenware [Member]
Schedule of Intangible Assets Disclosure [Line Items]
Goodwill				$ 10,000
Goodwill, percentage of fair value in excess of the carrying value				7.00%
US Reporting Unit [Member]
Schedule of Intangible Assets Disclosure [Line Items]
Goodwill				$ 81,600
Goodwill, percentage of fair value in excess of the carrying value				9.00%

Schedule of Future Principle Payments of Term Loan (Details) $ in Thousands	Dec. 31, 2018 USD ($)
Debt Disclosure [Abstract]
2019	$ 2,750
2020	2,750
2021	2,750
2022	2,750
2023	2,750
Thereafter	259,188
Total	$ 272,938

Debt - Additional Information (Detail) ¥ in Millions	12 Months Ended
Debt - Additional Information (Detail) ¥ in Millions	Dec. 31, 2018 USD ($)	Dec. 31, 2018 CNY (¥)	Mar. 02, 2018 USD ($)	Dec. 31, 2017 USD ($)
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 150,000,000
Unamortized debt issuance costs	$ 7,500,000
Interest rates on outstanding borrowings	6.00%	6.00%
Minimum availability under revolving credit to maintain minimum fixed charge ratio for four consecutive months	$ 15,000,000
Debt instrument, quarterly repayment percentage of principal	0.25%
Maximum Debt Instrument Leverage Ratio	3.75
Debt instrument, basis spread on variable rate	1.00%
Line of credit facility, description	The Incremental Facilities may not exceed the sum of (i) $50.0 million, plus (ii) an unlimited amount so long as, in the case of (ii) only, the Company's secured net leverage ratio, as defined in and computed pursuant to the Term Loan, is no greater than 3.75 to 1.00 subject to certain limitations and for the period defined pursuant to the Term Loan.
Line of credit facility description	The Term Loan bears interest, at the Company’s option, at one of the following rates: (i) an alternate base rate, defined, for any day, as the greater of the prime rate, a federal funds and overnight bank funding based rate, plus 0.5% or one-month LIBOR (at the Company’s option), plus 1.0%, plus a margin of 2.50% or (ii) LIBOR plus a margin of 3.50%.
Unamortized debt issuance costs- short term	$ 1,500,000
Outstanding borrowings under term loan	272,938,000
ABL Credit Agreement
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	150,000,000
Outstanding borrowing under credit facility	42,100,000
Open letters of credit	3,400,000
Availability under revolving credit facility	$ 104,500,000
Credit facility, maximum borrowing capacity terms	The borrowing capacity under the ABL Agreement will depend, in part, on eligible levels of accounts receivable and inventory that fluctuate regularly. Consequently, the $150.0 million commitment thereunder may not represent actual borrowing capacity at any given time.
Line of credit facility description	Borrowings under the revolving credit facility bear interest, at the Company's option, at one of the following rates: (i) an alternate base rate, defined, for any day, as the greater of the prime rate, a federal funds and overnight bank funding based rate plus 0.5% or one-month LIBOR, plus 1.0%, plus a margin of 0.25% to 0.75%, or (ii) LIBOR plus a margin of 1.25% to 1.75%. The respective margins are based upon the Company's total leverage ratio, as defined in and computed pursuant to the ABL Agreement.
Debt Agreements
Debt Instrument [Line Items]
Percentage of capital stock of foreign subsidiaries pledged as collateral	65.00%	65.00%
Credit facility terms	The Debt Agreements provide for customary restrictions and events of default. Restrictions include limitations on additional indebtedness, acquisitions, investments and payment of dividends, among other things. Further, the ABL Agreement provides that during any period (a) commencing on the last day of the most recently-ended four consecutive fiscal quarters on or prior to the date that availability under the ABL Agreement is less than the greater of $15.0 million or 10% of the aggregate commitment under the ABL Agreement at any time and (b) ending on the day after such availability has exceeded the greater of $15.0 million or 10% of the aggregate commitment under the ABL Agreement for forty-five (45) consecutive days, the Company is required to maintain a minimum fixed charge coverage ratio of 1.10 to 1.00 as of the last day of any period of four consecutive fiscal quarters.
Commitment Fee Percentage	10.00%
Term Loan
Debt Instrument [Line Items]
Debt Instrument, Face Amount			$ 275,000,000
Term Loan \| One-month LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.00%
Term Loan \| Alternate Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	2.50%
Term Loan \| LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	3.50%
Term Loan \| Prime rate, federal funds and overnight bank funding based rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.50%
Revolving Credit Facility \| Minimum \| ABL Credit Agreement
Debt Instrument [Line Items]
Interest rates on outstanding borrowings	2.40%	2.40%
Percentage of line of credit facility unused capacity commitment fee	0.375%
Revolving Credit Facility \| Minimum \| ABL Credit Agreement \| Alternate Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.25%
Revolving Credit Facility \| Minimum \| ABL Credit Agreement \| LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.25%
Revolving Credit Facility \| Maximum \| ABL Credit Agreement
Debt Instrument [Line Items]
Interest rates on outstanding borrowings	6.25%	6.25%
Revolving Credit Facility \| Maximum \| ABL Credit Agreement \| Alternate Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.75%
Revolving Credit Facility \| Maximum \| ABL Credit Agreement \| LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.75%
HSBC Facility
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 2,800,000	¥ 18.0
Outstanding borrowing under credit facility		¥ 0.5		$ 69,000
Senior Secured Asset Based Revolving Credit Facilities \| ABL Credit Agreement
Debt Instrument [Line Items]
Line of credit facility maximum borrowing capacity if certain conditions are met	200,000,000
Increase in line of credit facility	50,000,000
Former Credit Facility
Debt Instrument [Line Items]
Outstanding borrowing under credit facility				94,700,000
Open letters of credit				3,200,000
Availability under revolving credit facility				$ 58,000,000
Write off of debt issuance cost	$ 66,000

Derivatives - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Mar. 31, 2018
Derivative [Line Items]
Commencement date	2018-04
Expiration date	Mar. 30, 2023
Interest Expense	$ 18,004	$ 4,291	$ 4,803
Interest Rate Swap
Derivative [Line Items]
Interest Expense	400
Designated as Hedging Instrument \| Cash Flow Hedging \| Interest Rate Contract
Derivative [Line Items]
Notional amount	125,000			$ 5,300
Not Designated as Hedging Instrument \| Foreign exchange contract
Derivative [Line Items]
Notional amount	$ 0	$ 34,900

Fair Values of Derivative Financial Instruments Included in Consolidated Balance Sheets (Detail) - Fair Value, Observable inputs, Level 2 - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Designated as Hedging Instrument \| Interest Rate Contract \| Prepaid expenses
Derivatives, Fair Value [Line Items]
Fair Value of Derivative Assets	$ 42	$ 11
Designated as Hedging Instrument \| Interest Rate Contract \| Other assets
Derivatives, Fair Value [Line Items]
Fair Value of Derivative Assets	157
Not Designated as Hedging Instrument \| Foreign exchange contract \| Accrued expenses
Derivatives, Fair Value [Line Items]
Fair Value of Derivative Liabilities	$ 0	$ 1,951

Gains and Losses Related to Derivative Financial Instruments Designated as Hedging Instruments (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Designated as Hedging Instrument \| Interest Rate Contract
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) recognized in OCI	$ 161	$ 17	$ 17

Gains and Losses Related to Derivative Financial Instruments Not Designated as Hedging Instruments (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Not Designated as Hedging Instrument \| Foreign exchange contract \| Selling, general and administrative expenses
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in Income on Derivative	$ 150	$ 2,592	$ 2,182

Cash Dividends Declared (Detail) - $ / shares		12 Months Ended
Cash Dividends Declared (Detail) - $ / shares	Mar. 12, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Dividends Payable [Line Items]
Dividend per share		$ 0.17	$ 0.17	$ 0.17
Date declared	May 15, 2019
Dividend Payment 1st
Dividends Payable [Line Items]
Dividend per share		$ 0.0425
Date declared		Mar. 08, 2017
Date of record		May 01, 2017
Payment date		May 15, 2017
Dividend Payment 2nd
Dividends Payable [Line Items]
Dividend per share		$ 0.0425
Date declared		Jun. 22, 2017
Date of record		Aug. 01, 2017
Payment date		Aug. 15, 2017
Dividend Payment 3rd
Dividends Payable [Line Items]
Dividend per share		$ 0.0425
Date declared		Aug. 04, 2017
Date of record		Nov. 01, 2017
Payment date		Nov. 15, 2017
Dividend Payment 4th
Dividends Payable [Line Items]
Dividend per share		$ 0.0425
Date declared		Nov. 07, 2017
Date of record		Feb. 01, 2018
Payment date		Feb. 15, 2018
Dividend Payment 5th
Dividends Payable [Line Items]
Dividend per share		$ 0.0425
Date declared		Mar. 08, 2018
Date of record		May 01, 2018
Payment date		May 15, 2018
Dividend Payment 6th
Dividends Payable [Line Items]
Dividend per share		$ 0.0425
Date declared		Jun. 28, 2018
Date of record		Aug. 01, 2018
Payment date		Aug. 15, 2018
Dividend Payment 7th
Dividends Payable [Line Items]
Dividend per share		$ 0.0425
Date declared		Jul. 31, 2018
Date of record		Nov. 01, 2018
Payment date		Nov. 15, 2018
Dividend Payment 8th
Dividends Payable [Line Items]
Dividend per share		$ 0.0425
Date declared		Nov. 07, 2018
Date of record		Feb. 01, 2019
Payment date		Feb. 15, 2019

Capital Stock - Additional Information (Detail) - USD ($)

1 Months Ended

12 Months Ended

Mar. 12, 2019

Jun. 30, 2018

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2016

Apr. 30, 2013

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Dividend declaration date

May 15, 2019

Quarterly dividend declared

$ 0.17

Stock repurchase program, authorized amount

$ 10,000,000

Treasury Stock Repurchase (in shares)

Total intrinsic value of stock options exercised

$ 361,000

$ 2,071,000

$ 1,848,000

Unrecognized stock option compensation cost

$ 1,000,000

Weighted-average per share grant date fair value of stock options granted

$ 4.47

$ 6.37

$ 5.43

Stock compensation expense, stock option

$ 4,135,000

$ 3,390,000

$ 2,942,000

700,000

1,100,000

1,400,000

Stock compensation expense, Performance based and restricted share

$ 3,400,000

$ 2,300,000

1,500,000

Stock compensation expense, stock awards granted

$ 32,000

Preferred stock Series A

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Preferred stock, shares authorized

100

Preferred stock, issued

Preferred stock, outstanding

Preferred stock Series B

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Preferred stock, shares authorized

2,000,000

Preferred stock, issued

Preferred stock, outstanding

Long Term Incentive Plan 2000

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Shares available for grant

946,109

Share based compensation arrangement by share based payment award, number of shares available for grant increase (decrease)

900,000

Long Term Incentive Plan 2000 | After Amendment

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Shares available for grant

6,187,500

Stock Options | Minimum | Long Term Incentive Plan 2000

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Options expiration period

5 years

Stock Options | Maximum | Long Term Incentive Plan 2000

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Options expiration period

10 years

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

4 years

Restricted Stock

Weighted-average recognition period

1 year 7 months 6 days

Total fair value of restricted stock vested

$ 1,100,000

Number of shares vested

90,926

69,795

46,306

Restricted Stock | Maximum | Long Term Incentive Plan 2000

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

4 years

Performance Shares

Weighted-average recognition period

3 years

^[1]

1 year 8 months 12 days

Total fair value of restricted stock vested

$ 792,000

Number of shares range percentage

150.00%

Number of shares vested

^[1]

58,888

Performance Shares | Long Term Incentive Plan 2000

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Performance Shares | Subsequent Event

3 years

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares vested

66,761

Dividend Declared | Subsequent Event

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Quarterly dividend declared

$ 0.0425

Dividend declared, date of record

May 01, 2019

[1]	Represents the target number of shares to be issued for each performance-based award.

Summary of Stock Option (Detail) - USD ($)	12 Months Ended
Summary of Stock Option (Detail) - USD ($)	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Options
Beginning balance	1,456,200	1,775,400	2,242,202
Grants	205,750	125,750	66,850
Exercises	(58,000)	(300,000)	(272,325)
Cancellations	(22,375)	(45,700)	(30,750)
Expirations	(32,750)	(99,250)	(230,577)
Ending balance	1,548,825	1,456,200	1,775,400
Options exercisable at End of Period	1,279,825
Weighted-average exercise price
Beginning balance	$ 13.64	$ 13.44	$ 14.28
Grants	13.56	17.38	15.44
Exercises	4.93	11.34	9.01
Cancellations	16.95	16.40	15.39
Expirations	15.50	20.40	27.16
Ending balance	13.87	$ 13.64	$ 13.44
Options exercisable at End of Period	$ 13.76
Weighted-average remaining contractual life (years)
Options outstanding, Ending balance	4 years 2 months 12 days
Options exercisable, Ending balance	3 years 2 months 12 days
Aggregate intrinsic value
Options outstanding, end of period	$ 450,500
Options exercisable, end of period	$ 450,500

Fair Value Stock Options at Grant Date using Weighted-Average Assumption (Detail)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions And Weighted Average Fair Values [Line Items]
Historical volatility	34.00%	39.00%	39.00%
Expected term (years)	6 years	6 years	6 years
Risk-free interest rate	2.72%	1.97%	1.37%
Expected dividend yield	1.22%	0.98%	1.10%

Summary of Restricted Stock Activity (Detail) - Restricted Stock - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Number of shares
Beginning balance	219,317	161,824	101,435
Grants	223,884	133,352	109,170
Vested	(90,926)	(69,795)	(46,306)
Cancellations	(25,730)	(6,064)	(2,475)
Ending balance	326,545	219,317	161,824
Weighted- average grant date fair value
Beginning balance	$ 17.12	$ 15.35	$ 14.77
Grants	13.25	18.32	15.64
Vested	17.14	15.39	14.79
Cancellations	14.96	16.07	14.93
Ending balance	$ 14.63	$ 17.12	$ 15.35
Total unrecognized compensation expense remaining	$ 3,482,300
Weighted-average years expected to be recognized over	1 year 7 months 6 days

Summary of Performance-based Award Activity (Detail) - Performance Shares - USD ($)

12 Months Ended

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2016

Number of shares

^[1]

228,892

145,962

66,150

Grants

^[1]

182,300

87,000

82,000

Vested

^[1]

(58,888)

Cancellations

^[1]

(13,017)

(4,070)

(2,188)

Total unrecognized compensation expense remaining

^[1]

339,287

228,892

145,962

^[1]

$ 2,388,000

Weighted-average grant date fair value

$ 16.49

$ 15.32

$ 14.84

Grants

12.81

18.45

15.69

Vested

14.84

Cancellations

15.95

16.52

14.94

Weighted-average years expected to be recognized over

$ 14.82

$ 16.49

$ 15.32

^[1]

1 year 8 months 12 days

[1]	Represents the target number of shares to be issued for each performance-based award.

Calculations of Basic and Diluted Income per Common Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Earnings Per Share Disclosure [Line Items]
Net (loss) income – Basic and Diluted	$ (1,720)	$ 2,154	$ 15,720
Weighted-average shares outstanding - Basic	19,452	14,505	14,174
Effect of dilutive securities: Stock options and other stock awards		450	375
Weighted-average shares outstanding – Diluted	19,452	14,955	14,549
Basic (loss) income per common share	$ (0.09)	$ 0.15	$ 1.11
Diluted (loss) income per common share	$ (0.09)	$ 0.14	$ 1.08

- Definition

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

+ References

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+ Details

- Definition

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

+ References

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+ Details

- Definition

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

+ References + Details

Components of Income Before Income Taxes. Equity in Earnings and Extra Ordinary Items (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Components Of Earnings Loss Before Income Taxes [Line Items]
Domestic	$ 5,455	$ 17,728	$ 22,114
Foreign	(4,946)	(6,949)	(112)
Total income before income taxes and equity in earnings	$ 509	$ 10,779	$ 22,002

Provision for Income Taxes (Before Equity in Earnings) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Current:
Federal	$ 775	$ 7,041	$ 8,000
State and local	351	957	498
Foreign	(323)	4	483
Deferred	2,086	1,030	(1,951)
Income tax provision	$ 2,889	$ 9,032	$ 7,030

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Examination [Line Items]
Corporate income tax rate	21.00%	35.00%	35.00%
Estimated tax expense for one-time transition tax of Tax Act	$ 700,000	$ 338,000
Provisional benefit related to net change in deferred tax liabilities due to reduction in tax rate		3,000,000
Net operating loss carryforward	2,000,000	161,000	$ 109,000
Income tax examination net of federal and state tax benefit, accrued interest	29,000	24,000
Reduction in income tax liability if tax positions sustained	2,000,000
Change in unrecognized tax benefits reasonably possible	$ 0
Income tax examination years description	The Company is no longer subject to U.S. Federal income tax examinations for the years prior to 2015
Deferrred tax liability related to business acquistion	$ 13,900,000
Deferred tax liability due to uncertain tax position	300,000
Operayting Loss Carry Forward	7,071,000	$ 4,114,000
Deferred tax asset related to interest carried forward	1,000,000
State Jurisdiction
Income Tax Examination [Line Items]
Net operating loss carryforward	$ 24,900,000
Net operating loss carryforward expiration	2026
State Jurisdiction \| Minimum
Income Tax Examination [Line Items]
Income tax examination year	2014
State Jurisdiction \| Maximum
Income Tax Examination [Line Items]
Income tax examination year	2017
Foreign
Income Tax Examination [Line Items]
Net operating loss carryforward	$ 15,900,000
Net operating loss carryforward expiration	2020

Significant Components of Deferred Income Tax Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Deferred income tax assets:
Deferred rent expense	$ 3,504	$ 2,212
Stock options	2,982	2,903
Inventory	1,446	970
Operating loss and non-deductible interest carry-forward	7,071	4,114
Accounts receivable allowances	734	264
Accrued compensation	1,026	623
Depreciation and amortization		247
Other	1,753	1,882
Total deferred income tax assets	$ 18,516	$ 13,215

Significant Components of Net Deferred Income Tax Asset (Liability) (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Deferred income tax liabilities:
Fixed assets	$ (2,540)
Intangibles	(27,534)	$ (8,732)
Equity in earnings		(56)
Total deferred income tax liabilities	(30,074)	(8,788)
Net deferred income tax (liability) asset	(11,558)	4,427
Valuation allowance	(2,850)	(3,024)
Net deferred income tax (liability) asset		$ 1,403
Net deferred income tax (liability) asset	$ (14,408)

Difference between Provision for Income Taxes and Amount Computed by Applying Federal Statutory Rates (Detail)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Schedule of Effective Tax Rate Reconciliation [Line Items]
Provision for federal income taxes at the statutory rate	21.00%	35.00%	35.00%
State and local income taxes, net of Federal income tax benefit	97.40%	6.10%	3.60%
Foreign rate differences	(110.30%)	7.20%	(7.90%)
Non-deductible expenses	228.50%	3.70%	3.40%
Tax Act- revaluation of net deferred tax assets and other	16.80%	27.70%
Tax Act- transition tax	43.00%	3.10%
Uncertain tax positions	302.80%	0.60%
Research and development credit	(18.50%)
Federal return to provision	(27.50%)
Other	14.40%	0.40%	(2.10%)
Provision for income taxes	567.60%	83.80%	32.00%

Estimated Values of Gross Uncertain Tax Positions (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Contingency [Line Items]
Balance at January 1	$ (161)	$ (109)	$ (157)
Additions based on tax positions related to the current year	(626)	(82)
Additions based on tax positions related to the prior year	(1,302)
Reduction for tax positions of prior years	114	30
Settlements			48
Balance at December 31	$ (1,975)	$ (161)	$ (109)

Segment Reporting Information (Detail) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2016

Depreciation and amortization

Net sales

$ 704,542

$ 579,476

$ 592,619

23,329

14,189

14,148

18,579

15,180

27,077

Capital expenditures

7,902

6,311

3,380

708,572

401,521

Foreign currency translation adjustment

15,772

14,201

18,101

Acquisition activity

78,795

434

672

(1,137)

3,900

Impairment

2,205

Unallocated corporate expenses

91,690

15,772

14,201

(20,239)

(17,177)

(16,490)

Domestic Wholesale [Member]

13,526

Depreciation and amortization

Net sales

611,973

481,719

491,549

^[1]

18,840

10,004

10,231

Capital expenditures

7,746

4,176

2,956

604,532

282,011

2,846

2,412

Acquisition activity

78,795

434

Domestic Wholesale [Member] | Operating Segments

81,641

2,846

2,412

International Operations [Member]

^[2]

44,213

39,341

40,515

Depreciation and amortization

Net sales

92,569

97,757

101,070

4,489

4,185

3,917

Capital expenditures

156

2,135

424

94,210

105,984

Foreign currency translation adjustment

12,926

11,789

(672)

1,137

Impairment

(2,205)

International Operations [Member] | Operating Segments

10,049

12,926

11,789

^[3]

(5,395)

$ (6,984)

$ 3,052

Other Segments [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

$ 9,830

[1]	The 2016 period includes a $1.2 million charge to correct prior years’ depreciation of certain assets within the U.S. segment.
[2]	In 2018 and 2016, income from operations for the U.S. segment includes $2.1 million and $2.4 million, respectively, of restructuring expenses related to the Filament integration and the U.S. restructuring plan, respectively, as described in Note A – Significant Accounting Policies. The 2016 period also includes a $1.2 million charge to correct prior years’ depreciation of certain assets within the U.S. segment.
[3]	In 2018 and 2017 income from operations for the International segment includes $0.2 million and $1.0 million of restructuring expenses related to the integration of entities in Europe, as described in Note A – Significant Accounting Policies.

Segment Reporting Information (Parenthetical) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Restructuring expenses	$ 2,324	$ 1,024	$ 2,420
Depreciation charge	8,000	6,600	8,000
U.S. Wholesale
Segment Reporting Information [Line Items]
Restructuring expenses	2,100		2,400
International
Segment Reporting Information [Line Items]
Restructuring expenses	$ 200	$ 1,000
Depreciation Adjustment
Segment Reporting Information [Line Items]
Depreciation charge			$ 1,200

Net Sales and Long-Lived Assets by Major Geographic Locations (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 50,188	$ 48,793
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	47,812	45,285
United Kingdom
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	1,896	2,779
Rest of World
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 480	$ 729

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions		12 Months Ended
	Dec. 11, 2015	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Commitments and Contingencies Disclosure [Line Items]
Expiration year of lease agreements		2029
Rent and related expense		$ 18.4	$ 16.8	$ 16.6
Royalty license expiration year		2023
Non Income Tax Related Contingencies		$ 1.9
Capital cost
Commitments and Contingencies Disclosure [Line Items]
Remedial alternative, EPA preferred remedy	$ 7.3

Future Minimum Payments Under Non Cancelable Operating Leases (Detail) $ in Thousands	Dec. 31, 2018 USD ($)
Leases Future Minimum Payments [Line Items]
2019	$ 16,238
2020	14,898
2021	14,498
2022	14,744
2023	14,589
Thereafter	62,698
Total	$ 137,665

Future Minimum Royalties Payable (Detail) $ in Thousands	Dec. 31, 2018 USD ($)
Contractual Obligation [Line Items]
Future minimum royalties payable under license agreements, 2019	$ 7,927
Future minimum royalties payable under license agreements, 2020	8,485
Future minimum royalties payable under license agreements, 2021	8,942
Future minimum royalties payable under license agreements, 2022	926
Future minimum royalties payable under license agreements, 2023	156
Total	$ 26,436

Retirement Plans - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Defined contribution retirement plan voluntary contributions	$ 18,500
Retirement benefit obligations discount rate	3.98%	3.33%
Expected actuarial losses included in accumulated other comprehensive loss in net periodic benefit cost in 2019	$ 84,000
Former Executives
Defined Benefit Plan Disclosure [Line Items]
Retirement benefit obligations	6,600,000	$ 7,300,000
Employees 50 years or over
Defined Benefit Plan Disclosure [Line Items]
Defined contribution retirement plan voluntary contributions	$ 24,500

Future Retirement Benefit Payments (Detail) $ in Thousands	Dec. 31, 2018 USD ($)
Defined Benefit Plan Disclosure [Line Items]
2019	$ 421
2020	407
2021	404
2022	449
2023	433
2024 through 2028	$ 1,937

Components of Inventory (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Inventory [Line Items]
Finished goods	$ 165,969	$ 125,355
Work in process	375	86
Raw materials	7,257	6,995
Total	$ 173,601	$ 132,436

Property and Equipment (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Construction in progress	$ 1,032	$ 3,122
Land	100	100
Property plant and equipment gross	138,230	127,882
Less: accumulated depreciation and amortization	(112,468)	(104,817)
Total	25,762	23,065
Machinery, Furniture and Equipment
Property, Plant and Equipment [Line Items]
Property plant and equipment gross	106,525	91,282
Leasehold Improvements
Property, Plant and Equipment [Line Items]
Property plant and equipment gross	29,803	32,591
Building and Improvements
Property, Plant and Equipment [Line Items]
Property plant and equipment gross	$ 770	$ 787

Other - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Other [Line Items]
Depreciation charge	$ 8,000	$ 6,600	$ 8,000
Accumulated depreciation and amortization	112,468	104,817
Assets Held under Capital Leases
Other [Line Items]
Machinery, furniture and equipment	1,800	2,000
Accumulated depreciation and amortization	$ 1,700	$ 1,900

Accrued Expenses (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Accrued Liabilities [Line Items]
Customer allowances and rebates	$ 12,184	$ 11,662
Compensation and benefits	9,065	9,613
Interest	243	191
Vendor invoices	3,487	4,027
Royalties	1,916	1,744
Commissions	1,557	786
Freight	4,160	4,002
Professional fees	2,473	3,160
VAT	79	1,176
Foreign exchange contracts		1,951
Restructuring	1,557
Other	8,735	5,809
Total	$ 45,456	$ 44,121

Deferred Rent and Other Long Term Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Schedule Of Other Liabilities Noncurrent [Line Items]
Deferred rent liability	$ 13,832	$ 13,399
Retirement benefit obligations	6,169	6,829
Non-income tax liability	1,860
Royalty obligation	1,324
Other long term obligations	154	21
Total	$ 23,339	$ 20,249

Supplemental Cash Flow Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Supplemental disclosure of cash flow information:
Cash paid for interest	$ 16,319	$ 3,791	$ 4,171
Cash paid for taxes	2,599	12,936	6,384
Non-cash investing activities:
Translation adjustment	$ (5,906)	$ 7,823	$ (23,061)

Components of Accumulated Other Comprehensive Loss, Net (Detail) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2016

Amounts reclassified from accumulated other comprehensive loss

$ 210,279

$ 197,728

$ 199,468

Accumulated translation adjustment:

279,493

210,279

197,728

Accumulated Other Comprehensive Income (Loss) [Line Items]

Other Comprehensive Income (Loss), before Reclassifications, Net of Tax

(27,821)

(35,644)

(12,961)

(5,906)

7,823

(23,061)

Amounts reclassified from accumulated other comprehensive loss

^[1]

378

Accumulated deferred gains (losses) on cash flow hedges:

(33,727)

(27,821)

(35,644)

Accumulated Other Comprehensive Income (Loss) [Line Items]

Other Comprehensive Income (Loss), before Reclassifications, Net of Tax

^[2]

(3)

^[2]

(20)

^[2]

161

Amounts reclassified from accumulated other comprehensive loss

^[2]

(14)

Accumulated effect of retirement benefit obligations:

^[2]

161

(3)

Accumulated Other Comprehensive Income (Loss) [Line Items]

Other Comprehensive Income (Loss), before Reclassifications, Net of Tax

(1,518)

(1,352)

(1,204)

373

(228)

(202)

Amounts reclassified from accumulated other comprehensive loss

^[3]