0001628280-21-004467 | 10-K | XBRL Viewer

DERIVATIVES (Tables)

12 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

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	2020		2019
Interest rate swaps	Prepaid expenses	$	—	$	427
	Other assets	—		1,267
	Accrued expenses	504		—
	Other Long-Term Liabilities	1,034		—
Foreign exchange contracts	Accrued expenses	—		180


		December 31,
Derivatives not designated as hedging instruments	Balance Sheet Location	2020		2019

Interest rate swaps	Other assets	$	—	$	402
	Other Long-Term Liabilities	1,742		—

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

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


	Year ended December 31,
Derivatives designated as hedging instruments	2020		2019		2018
Interest rate swaps	$	(2,406)	$	1,120	$	161
Foreign exchange contracts	117		(117)		—
Total	$	(2,289)	$	1,003	$	161

Derivatives 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)	2020		2019		2018
Interest rate swaps	Mark to market gain (loss) on interest rate derivatives	$	(2,144)	$	402	$	—
	Interest expense	(327)		5		—
		$	(2,471)	$	407	$	—
Foreign exchange contracts	Selling, general & administrative expense	$	—	$	—	$	150

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
CURRENT ASSETS
Cash and cash equivalents	$ 35,963	$ 11,370
Accounts receivable, less allowances of $17,013 at December 31, 2020 and $9,681 at December 31, 2019	170,037	128,639
Inventory	203,164	173,427
Prepaid expenses and other current assets	12,129	14,140
Income taxes receivable	0	1,577
TOTAL CURRENT ASSETS	421,293	329,153
PROPERTY AND EQUIPMENT, net	23,120	28,168
OPERATING LEASE RIGHT-OF-USE ASSETS	96,543	106,871
INVESTMENTS	20,032	21,289
INTANGIBLE ASSETS, net	244,025	280,471
OTHER ASSETS	2,468	4,071
TOTAL ASSETS	807,481	770,023
CURRENT LIABILITIES
Current maturity of term loan	17,657	8,413
Accounts payable	66,095	36,173
Accrued expenses	80,050	52,060
Income taxes payable	4,788	0
Current portion of operating lease liabilities	11,480	10,661
TOTAL CURRENT LIABILITIES	180,070	107,307
OTHER LONG-TERM LIABILITIES	16,483	12,214
INCOME TAXES PAYABLE, LONG-TERM	1,444	1,217
OPERATING LEASE LIABILITIES	102,355	112,180
DEFERRED INCOME TAXES	10,714	13,685
REVOLVING CREDIT FACILITY	27,302	32,822
TERM LOAN	238,977	254,281
STOCKHOLDERS’ EQUITY
Preferred stock, $1.00 par value, shares authorized: 100 shares of Series A and 2,000,000 shares of Series B; none issued and outstanding	0	0
Common stock, $0.01 par value, shares authorized: 50,000,000 at December 31, 2020 and 2019; shares issued and outstanding: 21,755,195 at December 31, 2020 and 21,255,660 at December 31, 2019	218	213
Paid-in capital	268,666	263,386
Retained earnings	424	7,173
Accumulated other comprehensive loss	(39,172)	(34,455)
TOTAL STOCKHOLDERS’ EQUITY	230,136	236,317
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 807,481	$ 770,023

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Net loss	$ (3,007)	$ (44,415)	$ (1,720)
Other comprehensive (loss) income, net of tax:
Translation adjustment	(2,062)	(292)	(5,906)
Less: Amount reclassified	235	0	0
Total translation loss	(1,827)	(292)	(5,906)
Deferred gains (losses) on cash flow hedges:
Fair value adjustment, net of tax of $(803), $347 and $38	(3,273)	1,212	161
Less: Settlement of cash flow hedges	984	(209)	(14)
Total deferred (losses) gains on cash flow hedges	(2,289)	1,003	147
Effect of retirement benefit obligations:
Net (loss) income arising from retirement benefit obligations, net of tax of $(259), $(251) and $93	(680)	(601)	373
Less: amortization of loss included in net loss, net of tax of $52, $34 and $23	79	51	95
Total effects of retirement benefit obligations	(601)	(550)	468
Other comprehensive (loss) income, net of tax	(4,717)	161	(5,291)
Comprehensive loss	$ (7,724)	$ (44,254)	$ (7,011)

LEASES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
LEASES - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Lessee, Lease, Description [Line Items]
Operating cash flows for operating leases		$ 15,802	$ 17,851	$ 18,400
Accumulated depreciation and amortization		127,816	120,434
Covid-19
Lessee, Lease, Description [Line Items]
Accrued Rent		1,000
Covid-19 \| Forecast
Lessee, Lease, Description [Line Items]
Payments for rent	$ 1,000
Assets Held under Capital Leases
Lessee, Lease, Description [Line Items]
Machinery, furniture and equipment		400	300
Accumulated depreciation and amortization		$ 200	$ 100

DERIVATIVES - Gains and Losses Related to Derivative Financial Instruments Not Designated as Hedging Instruments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in income on derivative	$ (2,471)	$ 407	$ 0
Interest rate swaps \| Mark to market gain (loss) on interest rate derivatives
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in income on derivative	(2,144)	402	0
Interest rate swaps \| Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in income on derivative	(327)	5	0
Foreign exchange contracts \| Selling, general & administrative expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in income on derivative	$ 0	$ 0	$ 150

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Stockholders' Equity [Abstract]
Dividend per share (in usd per share)	$ 0.17	$ 0.17	$ 0.17

DEBT - Additional Information (Details)	12 Months Ended
DEBT - Additional Information (Details)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2019 CNY (¥)
Debt Instrument [Line Items]
Debt instrument, quarterly repayment percentage of principal	0.25%
Maximum debt instrument leverage ratio	3.75
Long-term debt, maturity, year one	$ 19,100,000
Long-term debt, maturity, year five	$ 243,500,000
Debt Agreements
Debt Instrument [Line Items]
Percentage of capital stock of foreign subsidiaries pledged as collateral	65.00%
ABL Credit Agreement
Debt Instrument [Line Items]
Maximum aggregate principal allowed	$ 150,000,000	$ 150,000,000
Minimum fixed charge coverage ratio	1.10
Minimum availability under revolving credit to maintain minimum fixed charge ratio for four consecutive months	$ 15,000,000.0
Commitment fee percentage	10.00%
ABL Credit Agreement \| One-month LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.00%
ABL Credit Agreement \| Prime rate, federal funds and overnight bank funding based rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.50%
Term Loan
Debt Instrument [Line Items]
Face amount	$ 275,000,000.0
Interest rates on outstanding borrowings	4.50%
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	1.52%
Percentage of line of credit facility unused capacity commitment fee	0.25%
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]
Percentage of line of credit facility unused capacity commitment fee	0.375%
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]
Maximum aggregate principal allowed		18,000,000.0	¥ 2,600,000
Outstanding borrowing under credit facility		$ 0
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	$ 200,000,000.0
Increase in line of credit facility	$ 50,000,000.0

CAPITAL STOCK - Summary of Restricted Stock Activity (Details) - Restricted Shares - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restricted Shares
Beginning balance (in shares)	593,341	326,545	219,317
Grants (in shares)	534,940	439,747	223,884
Vested (in shares)	(322,398)	(148,414)	(90,926)
Cancellations (in shares)	(10,296)	(24,537)	(25,730)
Ending balance (in shares)	795,587	593,341	326,545
Weighted- average grant date fair value
Beginning balance (usd per share)	$ 10.70	$ 14.63	$ 17.12
Grants (usd per share)	5.94	9.25	13.25
Vested (usd per share)	10.64	14.54	17.14
Cancellations (usd per share)	9.06	13.97	14.96
Ending balance (usd per share)	$ 7.54	$ 10.70	$ 14.63
Total unrecognized compensation expense remaining (in thousands)	$ 3,403
Weighted-average years expected to be recognized over	1 year 3 months 18 days

ACQUISITIONS - Summary of Purchase Price Allocated Based on Estimated Fair Value of Assets and Liabilities (Details) - Filament $ in Thousands	Mar. 02, 2018 USD ($)
Business Acquisition [Line Items]
Accounts receivable	$ 26,224
Inventory	29,044
Other assets	5,620
Other liabilities	(23,018)
Deferred income tax	(13,881)
Goodwill and other intangibles	270,427
Total allocated value	$ 294,416

EQUITY INVESTMENTS

12 Months Ended

Dec. 31, 2020

Equity Method Investments and Joint Ventures [Abstract]

EQUITY INVESTMENTS

The Company owns approximately 30% of the outstanding capital stock of 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, 2020, 2019 and 2018 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 19.88 and MXN 18.91 at December 31, 2020 and 2019, respectively.

The Company's proportionate share of Vasconia's net income (loss) has been translated from MXN to USD using the following exchange rates:


	Year Ended December 31,
	2020	2019	2018
Average exchange rate (MXN to USD)	19.91 - 23.31	19.11 - 19.42	18.71 - 19.81

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 $2.7 million during the year ended December 31, 2020 and a decrease of the investment of $1.6 million during the year ended December 31, 2019. These translation effects are recorded in accumulated other comprehensive loss. The Company received cash dividends of $52,000, $124,000 and $115,000, from Vasconia during the years ended December 31, 2020, 2019 and 2018, respectively.

The amounts due to and due from Vasconia as of December 31, 2020 and 2019 are as follows (in thousands):


Vasconia due to and due from balances	Balance Sheet Location	December 31, 2020		December 31, 2019
Amounts due from Vasconia	Prepaid expenses and other current assets	$	55	$	63
Amounts due to Vasconia	Accrued expenses and Accounts payable	$	(91)	(77)

Summarized income statement information for the years ended December 31, 2020, 2019 and 2018, as well as summarized balance sheet information as of December 31, 2020 and 2019, for Vasconia, calculated in accordance with U.S. GAAP, in USD and MXN is as follows:


	Year Ended December 31,
	2020				2019				2018
	(in thousands)
	USD		MXN		USD		MXN		USD		MXN
Income Statement
Net sales	$	156,391	$	3,330,855	$	159,746	$	3,074,398	$	179,547	$	3,456,852
Gross profit	24,947		540,244		34,032		654,342		36,891		711,941
(Loss) income from operations	(102)		6,674		8,620		165,287		11,402		222,115
Net income	5,566		108,678		1,757		28,892		2,887		57,590


	December 31,
	2020				2019
	(in thousands)
	USD		MXN		USD		MXN
Balance Sheet
Current assets	$	94,820	$	1,885,323	$	94,263	$	1,782,170
Non-current assets	$	100,140	$	1,991,116	110,908		2,096,880
Current liabilities	$	69,241	$	1,376,742	74,095		1,400,883
Non-current liabilities	$	48,419	$	962,723	50,037		946,014

The Company recorded equity in earnings of Vasconia, net of taxes, of $1.5 million, $0.5 million and $0.9 million for the years ended December 31, 2020, 2019 and 2018, respectively. Equity in earnings in 2018 includes deferred tax benefit of $0.1 million due to a change in the tax basis of the investment as a result of the Tax Act.

As of December 31, 2020, the fair value (based on Level 1 inputs using the quoted stock price) of the Company’s investment in Vasconia was $32.8 million. The carrying value of the Company’s investment in Vasconia was $20.0 million.

Lifetime Brands Do Brasil Participacoes Ltda., a 100% owned subsidiary of Lifetime Brands, Inc., was dissolved on May 5, 2020. The subsidiary held a note receivable relating to the 2016 sale of its 40% equity interest in GS International S/A (“GSI”), a wholesale distributor of branded housewares products in Brazil, which was accounted for as an equity method investment. The final installment due on the note receivable was received prior to dissolution of the subsidiary. Foreign currency translation losses of $0.2 million, which were previously recorded as a component of stockholder’s equity within accumulated other comprehensive loss, were recognized in earnings upon dissolution of this subsidiary during the year ended December 31, 2020. The Company included this loss within equity in earnings (losses), net of taxes.

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 $0.5 million. 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, 2020 and 2019, the Company had a carrying value of zero in Grand Venture.

GOODWILL AND INTANGIBLE ASSETS - Estimated Amortization Expense (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2021	$ 17,014
2022	17,014
2023	16,971
2024	16,387
2025	$ 16,121

INCOME TAXES - Additional Information (Details) - USD ($)	3 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2020	Dec. 31, 2019
Income Tax Examination [Line Items]
Proceeds from income tax refunds	$ 2,300,000
Tax cuts and jobs act, transition tax for accumulated foreign earnings, income tax expense			$ 300,000
Tax cuts and jobs act, change in tax rate, deferred tax asset, income tax expense			$ 3,000,000.0
Provision of tax expense for one-time transition tax of Tax Act		$ 700,000
Net operating loss carryforward		$ 2,000,000.0		$ 1,600,000	$ 1,500,000
Income tax examination net of federal and state tax benefit, accrued interest				100,000	$ 100,000
Reduction in income tax liability if tax positions sustained				2,000,000.0
Change in unrecognized tax benefits reasonably possible				0
Foreign
Income Tax Examination [Line Items]
Net operating loss carryforward				39,200,000
State Jurisdiction
Income Tax Examination [Line Items]
Net operating loss carryforward				11,800,000
State Jurisdiction \| Capital Loss Carryforward
Income Tax Examination [Line Items]
Net operating loss carryforward				7,700,000
US \| Capital Loss Carryforward
Income Tax Examination [Line Items]
Net operating loss carryforward				$ 1,000,000.0

BUSINESS SEGMENTS - Segment Reporting Information (Details) - USD ($) $ in Thousands	3 Months Ended			12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Net sales				$ 769,169	$ 734,902	$ 704,542
Income from operations:				24,970	(23,395)	18,579
Depreciation and amortization				24,664	25,115	23,329
Capital expenditures:				2,082	9,169	7,902
Restructuring expenses				211	1,435	2,324
Assets:		$ 770,023		807,481	770,023
Goodwill
Beginning balance	$ 49,371			49,371	91,690	15,772
Purchase price adjustment					972
Impairment				(19,100)	(42,990)	(2,205)
Foreign currency translation adjustment				0	301	672
Ending balance		49,371		30,271	49,371	91,690
Unallocated corporate expenses
Segment Reporting Information [Line Items]
Income from operations:				(22,573)	(20,259)	(20,239)
Assets:		13,041		35,938	13,041
U.S.
Segment Reporting Information [Line Items]
Net sales				683,539	644,171	609,114
Restructuring expenses					700	2,100
Goodwill
Beginning balance	49,371			49,371	81,641
Purchase price adjustment				0	972
Impairment	(19,100)	(33,200)		(19,100)	(33,242)
Ending balance		49,371		30,271	49,371	81,641
U.S. \| Operating Segments
Segment Reporting Information [Line Items]
Net sales				683,539	644,171	609,114
Income from operations:				60,378	19,826	44,213
Depreciation and amortization				20,018	20,653	18,840
Capital expenditures:				1,467	2,078	7,746
Assets:		639,047		661,321	639,047
International
Segment Reporting Information [Line Items]
Restructuring expenses				200	700	200
Goodwill
Beginning balance	$ 0			0	10,049
Impairment			$ (9,700)	0	(9,748)	(2,200)
Foreign currency translation adjustment				0	(301)
Ending balance		0		0	0	10,049
International \| Operating Segments
Segment Reporting Information [Line Items]
Net sales				85,630	90,731	95,428
Income from operations:				(12,835)	(22,962)	(5,395)
Depreciation and amortization				4,646	4,462	4,489
Capital expenditures:				615	7,091	$ 156
Assets:		$ 117,935		$ 110,222	$ 117,935

LOSS PER COMMON SHARE - Calculations of Basic and Diluted (Loss) Income per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share [Abstract]
Net loss – Basic and Diluted	$ (3,007)	$ (44,415)	$ (1,720)
Weighted-average shares outstanding - Basic (in shares)	20,860	20,597	19,452
Effect of dilutive securities:
Stock options and other stock awards (in shares)	0	0	0
Weighted-average shares outstanding – Diluted (in shares)	20,860	20,597	19,452
Basic loss per common share (usd per share)	$ (0.14)	$ (2.16)	$ (0.09)
Diluted loss per common share (usd per share)	$ (0.14)	$ (2.16)	$ (0.09)
Antidilutive shares (in shares)	2,167	2,120	1,869

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

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+ Details

LEASES - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$ 15,802	$ 17,851	$ 18,400
Total	15,802	17,851
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	0	118,447
Total	$ 0	$ 118,447

DEBT - Current and Non Current Portions of Term Loan (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Non-current portion of Term Loan facility:
Long-term Line of Credit, Noncurrent	$ 27,302	$ 32,822
Term Loan
Current portion of Term Loan facility:
Term Loan facility payment	0	2,750
Estimated Excess Cash Flow principal payment	19,120	7,145
Estimated unamortized debt issuance costs	(1,463)	(1,482)
Total Current portion of Term Loan facility	17,657	8,413
Non-current portion of Term Loan facility:
Long-term Line of Credit, Noncurrent	243,485	260,293
Estimated unamortized debt issuance costs	(4,508)	(6,012)
Total Non-current portion of Term Loan facility	$ 238,977	$ 254,281

RETIREMENT PLANS

12 Months Ended

Dec. 31, 2020

Postemployment Benefits [Abstract]

RETIREMENT PLANS

401(k) plan and other defined contribution plans

The Company maintains a defined contribution retirement plan for eligible employees under Section 401(k) of the Internal Revenue Code. Participants can make voluntary contributions up to the Internal Revenue Service limit of $19,500 ($26,000 for employees 50 years or over) for 2020. The Company suspended its matching contribution in 2009 as an expense savings measure. The Company’s United Kingdom-based subsidiary, Lifetime Brands Europe Limited, maintains a defined contribution pension plan.

Retirement benefit obligations

The Company assumed retirement benefit obligations, which are paid to certain former executives of a business acquired in 2006. The obligations under the agreements with these former executives are unfunded and amounted to $8.0 million at December 31, 2020 and $7.3 million at December 31, 2019.

The discount rate used to calculate the retirement benefit obligations was 2.02% at December 31, 2020 and 2.88% at December 31, 2019. The retirement benefit obligations are included in accrued expenses and other long-term liabilities.

The Company expects to recognize $0.2 million of actuarial losses included in accumulated other comprehensive loss in net periodic benefit cost in 2021.

Expected benefit payments for each of the next five fiscal years and in the aggregate for the five fiscal years thereafter are as follows (in thousands):


Year ending December 31,
2021	$	431
2022	474
2023	455
2024	435
2025	417
2026 through 2030	1,845

REVENUE - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Net sales	$ 769,169	$ 734,902	$ 704,542
Minimum
Disaggregation of Revenue [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	30 days
Maximum
Disaggregation of Revenue [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	90 days
Shipping and Handling
Disaggregation of Revenue [Line Items]
Net sales	$ 3,900	$ 3,600	$ 3,500

- Definition

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

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+ Details

GOODWILL AND INTANGIBLE ASSETS - Additional Information (Details) - USD ($)	3 Months Ended			12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Oct. 01, 2019	Dec. 31, 2017
Schedule of Intangible Assets Disclosure [Line Items]
Amortization expenses				$ 16,953,000	$ 16,843,000	$ 15,323,000
Goodwill		$ 49,371,000		30,271,000	49,371,000	91,690,000		$ 15,772,000
Goodwill impairment charges				19,100,000	42,990,000	2,205,000
Indefinite-lived intangible assets, Impairment				1,000,000
International
Schedule of Intangible Assets Disclosure [Line Items]
Goodwill		0		0	0	10,049,000
Goodwill impairment charges			$ 9,700,000	0	9,748,000	2,200,000
U.S.
Schedule of Intangible Assets Disclosure [Line Items]
Goodwill		49,371,000		30,271,000	49,371,000	$ 81,641,000
Goodwill impairment charges	$ 19,100,000	$ 33,200,000		19,100,000	$ 33,242,000
Goodwill, percentage of fair value in excess of the carrying value	3.90%						6.10%
Indefinite-lived intangible assets, Impairment	$ 1,000,000.0
European Kitchenware
Schedule of Intangible Assets Disclosure [Line Items]
Goodwill				$ 0
Goodwill, percentage of fair value in excess of the carrying value			30.10%

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

Royalties

The Company has license agreements that require the payment of royalties on sales of licensed products which expire through 2048. Future minimum royalties payable under these agreements are as follows (in thousands):


Year ending December 31,
2021	$	10,045
2022	10,091
2023	709
2024	582
2025	101
Thereafter	5,243
Total	$	26,771

Legal proceedings

Wallace EPA Matter

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 total net present worth estimated 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. In February 2020, the tolling agreements were extended to November 2020. In November 2020, the tolling agreements were extended to November 2021. 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.

The EPA released its proposed plan for a second operable unit in July 2019. The public comment period for the proposed plan ended on September 10, 2019. On September 30, 2019, the EPA issued the ROD for operable unit 2 (“OU-2”), electing to implement its preferred remedy which consists of in-situ treatment of groundwater and a monitored natural attenuation program including monitoring of the plume fringe at the Site. The EPA’s estimated total net present worth cost for its selected remedy is $17.3 million.

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.

U.S. Customs and Border Protection matter

By letter dated August 26, 2019, the Company was advised that U.S. Customs and Border Protection ("CBP") had commenced an investigation, pursuant to 19,000 U.S.C. §1592, regarding the Company’s tariff classification of certain tableware and kitchenware. The issue centers on whether such merchandise meets the criteria for reduced duty rates as specified sets as those terms are defined in Chapter 69, Note 6(b), Harmonized Tariff System of the United States. The period of investigation is stated to be from August 26, 2014 to the present. Since being notified of the investigation, the Company has obtained a significant amount of evidence that, the

Company believes, supports that the imported products were properly classified as specified sets. The Company's counsel filed a Lead Protest and Application for Further Review with CBP on February 5, 2020 (the "Lead Protest") relating to a single shipment made during the investigation period.

CBP approved the Company’s Lead Protest on June 8, 2020 stating that the specified set requirement was fulfilled with respect to the protested shipment based on information provided by the Company. Based on this decision, no additional duties will be owed for the seven tableware collections imported in this shipment.

The Company also compiled and submitted to CBP a complete set of supporting documents for three additional protests (for the remaining 29 tableware collections that were imported by the Company under the protested shipments). One of these three was approved on October 15, 2020; the other two remain pending. If the CBP approves these additional claims and accepts the evidence presented as it did with the Lead Protest, then no additional duties will be owed for the remaining protested shipments.

Because the period of investigation covers a five-year period, the Company is compiling supporting documentation packages for all tableware collections imported during this period.

In the event CBP accepts the evidence presented, then no additional duties or penalties will be owed. If CBP rejects the Company’s

position, then the estimated amount of duties that could be owed is $2.6 million. In such event, it is reasonably possible that additional

penalties could be assessed, depending upon the level of culpability found, of up to $5.2 million for negligence and up to $10.4 million for gross negligence. In the event penalties are assessed, the Company will have the opportunity to further contest CBP’s findings and

seek cancellation or mitigation of such assessments.

Accordingly, based on the above uncertainties and variables, the Company considers the potential losses related to this matter to be reasonably possible, but not probable. 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.

Other

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.

ACQUISITIONS - Summary of Pro Forma Consolidated Net Sales and Income (Loss) Before Income Taxes and Equity in Earnings (Details) - Filament $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2018 USD ($) $ / shares
Business Acquisition [Line Items]
Net sales	$ 730,353
Income before income taxes and equity in earnings	2,439
Net loss	$ (267)
Basic loss per common share (usd per share) \| $ / shares	$ (0.01)
Diluted loss per common share (usd per share) \| $ / shares	$ (0.01)

LEASES - Average Lease Terms and Discount Rates (Details)	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating leases, weighted average remaining lease term (in years)	8 years 2 months 12 days	9 years 1 month 6 days
Operating leases, weighted average discount rate, percent	6.20%	6.20%

RETIREMENT PLANS - Additional Information (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Retirement benefit obligations discount rate	2.02%	2.88%
Expected actuarial losses included in accumulated other comprehensive loss in net periodic benefit cost in 2020	$ 0.2
Former Executives
Defined Benefit Plan Disclosure [Line Items]
Retirement benefit obligations	$ 8.0	$ 7.3

SALE OF ACCOUNTS RECEIVABLE - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
HSBC Bank
Accounts, Notes, Loans and Financing Receivable [Line Items]
Sale of receivables	$ 24.7	$ 20.9
Receivables purchase agreement
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables purchase agreement - maximum borrowing	$ 30.0
Agreement period	364 days
Agreement termination, written notice period	60 days
Sale of receivables	$ 159.4	115.4
Receivables purchase agreement \| Selling, general & administrative expense
Accounts, Notes, Loans and Financing Receivable [Line Items]
Charge related to sale of receivables	$ 0.4	$ 0.6

ACQUISITIONS - Additional Information (Details) - USD ($) $ in Thousands		2 Months Ended	12 Months Ended
	Mar. 02, 2018	Feb. 28, 2019	Dec. 31, 2018
Selling, General and Administrative Expenses
Business Acquisition [Line Items]
Contingent consideration obligation acquired			$ 1,800
Filament
Business Acquisition [Line Items]
Aggregate acquisition agreement amount	$ 294,416
Cash	$ 217,511
Stock issued for acquisition of Filament (in shares)	5,593,116
Business acquisition, equity interest issued or issuable, value	$ 76,905
Goodwill decreased		$ 1,000
Net sales			$ 128,800

GOODWILL AND INTANGIBLE ASSETS - Components of Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Schedule of Intangible Assets Disclosure [Line Items]
Goodwill, Gross	$ 49,371	$ 92,361
Goodwill, Accumulated Impairment	(19,100)	(42,990)
Goodwill, Net	30,271	49,371	$ 91,690	$ 15,772
Indefinite-Lived Trade Names, Gross	50,600	58,216
Indefinite-lived intangible assets, Impairment	(1,000)
Indefinite-Lived Trade Names, Net	49,600	58,216
Finite-Lived Intangible Assets, Gross	352,231	393,558
Finite-Lived Intangible Assets, Accumulated Amortization	(88,106)	(70,097)
Finite-Lived Intangible Assets, Net	244,025	280,471
Impairment of Intangible Assets, Indefinite-lived, Including Goodwill	(20,100)	(42,990)
Licenses
Schedule of Intangible Assets Disclosure [Line Items]
Finite-Lived Intangible Assets, Gross	15,847	15,847
Finite-Lived Intangible Assets, Accumulated Amortization	(10,742)	(10,287)
Finite-Lived Intangible Assets, Net	5,105	5,560
Trade Names
Schedule of Intangible Assets Disclosure [Line Items]
Finite-Lived Intangible Assets, Gross	52,030	43,986
Finite-Lived Intangible Assets, Accumulated Amortization	(20,874)	(17,337)
Finite-Lived Intangible Assets, Net	$ 31,156	26,649
Intangible assets acquired, estimated useful life	18 years
Customer relationships
Schedule of Intangible Assets Disclosure [Line Items]
Finite-Lived Intangible Assets, Gross	$ 177,801	176,602
Finite-Lived Intangible Assets, Accumulated Amortization	(54,008)	(40,605)
Finite-Lived Intangible Assets, Net	123,793	135,997
Other
Schedule of Intangible Assets Disclosure [Line Items]
Finite-Lived Intangible Assets, Gross	6,582	6,546
Finite-Lived Intangible Assets, Accumulated Amortization	(2,482)	(1,868)
Finite-Lived Intangible Assets, Net	$ 4,100	$ 4,678

DERIVATIVES - Gains and Losses Related to Derivative Financial Instruments Designated as Hedging Instruments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Derivative fair value adjustment	$ (2,289)	$ 1,003	$ 147
Derivatives designated as hedging instruments
Derivative Instruments, Gain (Loss) [Line Items]
Derivative fair value adjustment	(2,289)	1,003	161
Derivatives designated as hedging instruments \| Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Derivative fair value adjustment	(2,406)	1,120	161
Derivatives designated as hedging instruments \| Foreign exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Derivative fair value adjustment	$ 117	$ (117)	$ 0

OTHER - Components of Accumulated Other Comprehensive Loss, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of year	$ 236,317	$ 279,493	$ 210,279
Currency translation adjustment	(235)	0	0
Derivative fair value adjustment	(2,289)	1,003	147
Net (loss) income arising from retirement benefit obligations, net of tax	601	550	(468)
Balance at end of year	230,136	236,317	279,493
Accumulated translation adjustment:
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of year	(34,019)	(33,727)	(27,821)
OCI, before reclassifications, net of tax, attributable to parent	(2,062)	(292)	(5,906)
Currency translation adjustment	235	0	0
Balance at end of year	(35,846)	(34,019)	(33,727)
Accumulated deferred gains (losses) on cash flow hedges:
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of year	1,164	161	14
Derivative fair value adjustment	(3,273)	1,212	161
Amounts reclassified from accumulated other comprehensive loss	984	(209)	(14)
Balance at end of year	(1,125)	1,164	161
Accumulated effect of retirement benefit obligations:
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of year	(1,600)	(1,050)	(1,518)
Amounts reclassified from accumulated other comprehensive loss	79	51	95
Net (loss) income arising from retirement benefit obligations, net of tax	(680)	(601)	373
Balance at end of year	(2,201)	(1,600)	(1,050)
Accumulated other comprehensive loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of year	(34,455)	(34,616)	(29,325)
Derivative fair value adjustment	(2,289)	1,003	147
Net (loss) income arising from retirement benefit obligations, net of tax	601	550	(468)
Balance at end of year	$ (39,172)	$ (34,455)	$ (34,616)

DERIVATIVES

12 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVES

Interest Rate Swap Agreements

The Company's net total outstanding notional value of interest rate swaps was $100 million at December 31, 2020.

The Company designated a portion of these 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 original notional values are reduced over these periods. The aggregate notional value was $75.0 million at December 31, 2020.

In June 2019, the Company entered into additional interest rate swap agreements, with an aggregate notional value of $25.0 million at December 31, 2020. These non-designated interest rate swaps serve 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 and expire in February 2025.

Foreign Exchange Contracts

The Company is a party from time to time to 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. Fluctuations in the value of certain foreign currencies as compared to the USD may positively or negatively affect the Company’s revenues, gross margins, operating expenses, and retained earnings, all of which are expressed in USD. Where the Company deems it prudent, the Company engages in hedging programs using foreign currency forward contracts aimed at limiting the impact of foreign currency exchange rate fluctuations on earnings. The Company purchases short-term (i.e., 12 months or less) foreign currency forward contracts to protect against currency exchange risks associated with the payment of merchandise purchases to foreign suppliers. The Company does not hedge the translation of foreign currency profits into USD, as the Company regards this as an accounting exposure rather than an economic exposure. The Company's foreign exchange contracts, that had been designed as hedges in order to apply hedge accounting, matured in April 2020. At December 31, 2020, the Company had no outstanding foreign exchange contracts. The aggregate gross notional values of foreign exchange contracts at December 31, 2019 was $7.3 million.

The Company is exposed to market risks, as well as changes in foreign currency exchange rates, as measured against the USD and each other, and changes to credit risk of derivative counterparties. The Company attempts to minimize these risks by primarily using foreign currency forward contracts and by maintaining counterparty credit limits. These hedging activities provide only limited protection against currency exchange and credit risk. Factors that could influence the effectiveness of the Company’s hedging programs include currency markets and availability of hedging instruments and liquidity of the credit markets. All foreign currency forward contracts that the Company enters into are components of hedging programs and are entered into for the sole purpose of hedging an existing or anticipated currency exposure. The Company does not enter into such contracts for speculative purposes and, as of December 31, 2020, the Company does not have any foreign currency forward contract derivatives that are not designated as hedges. These foreign exchange contracts have been designated as hedges in to order to apply hedge accounting.

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	2020		2019
Interest rate swaps	Prepaid expenses	$	—	$	427
	Other assets	—		1,267
	Accrued expenses	504		—
	Other Long-Term Liabilities	1,034		—
Foreign exchange contracts	Accrued expenses	—		180


		December 31,
Derivatives not designated as hedging instruments	Balance Sheet Location	2020		2019

Interest rate swaps	Other assets	$	—	$	402
	Other Long-Term Liabilities	1,742		—

The fair value of the interest rate swaps 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 fair value of the foreign exchange contracts were based on Level 2 observable inputs using quoted market prices for similar assets in an active market.

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.


	Year ended December 31,
Derivatives designated as hedging instruments	2020		2019		2018
Interest rate swaps	$	(2,406)	$	1,120	$	161
Foreign exchange contracts	117		(117)		—
Total	$	(2,289)	$	1,003	$	161

Realized gains or (losses) on the interest rate swaps are reclassified into earnings as interest expense as the interest expense on the debt is recognized. The Company had no terminated or matured interest rate swaps during the year ended December 31, 2020.

Realized gains or (losses) on foreign exchange contracts that are reported in other comprehensive income (loss) are reclassified into cost of sales as the underlying inventory purchased is sold.

During the year ended December 31, 2020, the Company reclassified $1.0 million of cash flow hedges in other comprehensive losses to earnings. This comprised of a charge of $1.2 million related to interest rate swaps recognized in interest expense and a gain of $0.2 million related to foreign exchange contracts recognized in cost of sales. At December 31, 2020, the estimated amount of existing losses expected to be reclassified into earnings within the next 12 months was $1.0 million.

During the year ended December 31, 2019, the Company reclassified $0.2 million of cash flow hedges in other comprehensive losses to earnings. This comprised of $0.3 million related to interest rate swaps recognized in interest expense and a gain of $0.5 million related to foreign exchange contracts recognized in cost of sales.

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)	2020		2019		2018
Interest rate swaps	Mark to market gain (loss) on interest rate derivatives	$	(2,144)	$	402	$	—
	Interest expense	(327)		5		—
		$	(2,471)	$	407	$	—
Foreign exchange contracts	Selling, general & administrative expense	$	—	$	—	$	150

INCOME TAXES - Components of Income Before Income Taxes. Equity in Earnings and Extra Ordinary Items (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Domestic	$ 18,012	$ (21,311)	$ 5,455
Foreign	(12,463)	(22,462)	(4,946)
Income (loss) before income taxes and equity in earnings	$ 5,549	$ (43,773)	$ 509

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

INCOME TAXES - Difference between Provision for Income Taxes and Amount Computed by Applying Federal Statutory Rates (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Federal income taxes at the statutory rate	21.00%	21.00%	21.00%
State and local income taxes, net of Federal income tax benefit	38.90%	(1.70%)	97.40%
Foreign rate differences	(43.90%)	2.10%	(76.10%)
Impairment of goodwill	65.50%	(20.80%)	98.60%
Non-deductible expenses	16.40%	(1.20%)	129.90%
Tax Act- revaluation of net deferred tax assets and other	0	0	0.168
Tax Act- transition tax	0	0	0.430
Uncertain tax positions	4.00%	(0.30%)	302.80%
Research and development credit	(7.20%)	1.40%	(18.50%)
Federal return to provision	6.80%	0.40%	(27.50%)
Effective Income Tax Rate Reconciliation, Tax Cuts And Jobs Act, Pre-Acquisition Loss	8.60%	0.00%	0.00%
Equity-based compensation	19.40%	0.00%	0.00%
Valuation Allowance	48.30%	(3.10%)	(34.20%)
Other	0.00%	(0.30%)	14.40%
Provision for income taxes	177.80%	(2.50%)	567.60%

COMMITMENTS AND CONTINGENCIES - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020 USD ($)
Commitments and Contingencies Disclosure [Line Items]
Period of Investigation	5 years
Estimated Duties That Could Be Owed
Commitments and Contingencies Disclosure [Line Items]
Reasonable possible loss	$ 2.6
Negligence
Commitments and Contingencies Disclosure [Line Items]
Reasonable possible loss	5.2
Gross Negligence
Commitments and Contingencies Disclosure [Line Items]
Reasonable possible loss	10.4
Capital cost
Commitments and Contingencies Disclosure [Line Items]
Remedial alternative, EPA preferred remedy	17.3
Capital cost \| San German Ground Water Contamination Site Initial Operable Unit
Commitments and Contingencies Disclosure [Line Items]
Remedial alternative, EPA preferred remedy	$ 7.3

LEASES

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

LEASES

The Company has operating leases for corporate offices, distribution facilities, manufacturing plants, and certain vehicles. Leases with an initial term of 12 months or less are not recorded on the condensed consolidated balance sheet. The Company has elected the practical expedient to account for each separate lease component of a contract and its associated non-lease components as a single lease component, thus causing all fixed payments to be capitalized. Variable lease payment amounts that cannot be determined at the commencement of the lease, such as increases in lease payments that do not depend on changes in index rates or payments based on usage, are not included in the ROU assets or liabilities. These are expensed as incurred and recorded as variable lease expense.

ROU assets represent the Company’s right to use an underlying asset during the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets and liabilities are recognized at the commencement date based on the net present value of fixed lease payments over the lease term. The Company’s lease term includes options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. ROU assets also include any advance lease payments. As most of the Company’s operating leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments.

The components of lease costs for the year ended December 31, 2020 and 2019 were as follows (in thousands):


	Year Ended December 31,
	2020		2019
Operating lease costs (1):
Fixed lease expense	$	18,181	$	18,898
Variable lease expense	3,798		$	4,571
Total	$	21,979	$	23,469

(1) Expenses are recorded in selling, general and administrative expenses.

Rent and related expenses under operating leases was $18.4 million for the years ended December 31, 2018.

Supplemental cash flow information for the year ended December 31, 2020 and 2019 were as follows (in thousands):


	Year Ended December 31,
	2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	15,802	$	17,851
Total	$	15,802	$	17,851


	Year Ended December 31,
	2020		2019
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	0	$	118,447
Total	$	0	$	118,447

Included in machinery, furniture and equipment at each of December 31, 2020 and 2019 is $0.4 million and $0.3 million, respectively, related to assets recorded under finance leases. Included in accumulated depreciation and amortization at December 31, 2020 and December 31, 2019 is $0.2 million and $0.1 million, respectively, related to assets recorded under finance leases.

In response to the COVID-19 pandemic, the Company negotiated COVID-19-related rent concessions for several of its leased properties. The majority of these rent concessions were in the form of deferred rent payments for one or more months. For these rent concessions the Company elected to account for these as if no changes to the lease were made and continued to recognize the straight-line lease expense for these leases in accordance with the FASB Question-and-Answer Document. COVID-19-related deferred rent payments at December 31, 2020 were $1.0 million and were recorded in accrued expenses in the condensed consolidated balance sheet at December 31, 2020. In addition, there were a limited number of rent concessions obtained by the Company in the form of rent abatement and changes in lease terms. These lease modifications were accounted for as a resolution to a contingency that fixes previously variable lease payments which resulted in the remeasurement of the right-of-use asset and lease liability. The remeasurement of the right-of-use and lease liability did not have a material effect on our consolidated financial statements or results of operations.

The aggregate future lease payments for operating leases as of December 31, 2020 were as follows (in thousands):


	Operating
2021	$	18,112
2022	18,199
2023	18,176
2024	17,857
2025	17,831
Thereafter	56,115
Total lease payments	146,290
Less: Interest	(32,455)
Present value of lease payments	$	113,835

The Company expects to make payments related to the deferrals obtained as a result of COVID-19-related rent concessions of $1.0 million in 2021, per the updated terms of the applicable lease agreements.

Average lease terms and discount rates were as follows:


	December 31, 2020		December 31, 2019
Weighted-average remaining lease term (years)
Operating leases	8.2		9.1
Weighted-average discount rate
Operating leases	6.2	%	6.2	%

INCOME TAXES - Estimated Values of Gross Uncertain Tax Positions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at January 1	$ (1,508)	$ (1,975)	$ (161)
Additions based on tax positions related to the current year	(149)	(29)	(626)
Additions based on tax positions related to the prior year	0	0	(1,302)
Reductions for tax position of prior years	9	496	114
Balance at December 31	$ (1,648)	$ (1,508)	$ (1,975)

CAPITAL STOCK - Stock Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock Compensation Expense	$ 5,951	$ 5,041	$ 4,135
Equity based stock option expense
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock Compensation Expense	570	617	691
Restricted and performance-based stock awards expense
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock Compensation Expense	5,346	4,404	3,400
Stock compensation expense for equity based awards
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock Compensation Expense	5,916	5,021	4,091
Liability based stock option expense
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock Compensation Expense	$ 35	$ 20	$ 44

INCOME TAXES

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

INCOME TAXES

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


	Year Ended December 31,
	2020		2019		2018
	(in thousands)
Domestic	$	18,012	$	(21,311)	$	5,455
Foreign	(12,463)		(22,462)		(4,946)
Total income (loss) before income taxes and equity in earnings	$	5,549	$	(43,773)	$	509

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


	Year Ended December 31,
	2020		2019		2018
	(in thousands)
Current:
Federal	$	8,522	$	906	$	775
State and local	2,540		884		351
Foreign	665		392		(323)
Deferred	(1,861)		(1,073)		2,086
Income tax provision	$	9,866	$	1,109	$	2,889

On March 27, 2020, H.R. 748, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was signed into legislation which includes business tax provisions that impact taxes related to 2018, 2019 and 2020. Some of the significant tax law changes in accordance with the CARES Act are to increase the limitation on deductible business interest expense for 2019 and 2020, allow for the five-year carryback of net operating losses for 2018-2020, suspend the 80% limitation of taxable income for net operating loss carryforwards for 2018-2020, and accelerate the ability to claim refunds of Alternative Minimum Tax (“AMT”) credit carryforwards.

The CARES Act remedied certain aspects of the Tax Act such as accelerated depreciation recovery for assets defined as qualified improvement property and carryback of operating losses to fiscal tax years. The latter required carryback of Filament losses to pre-acquisition fiscal years ended March 31, 2017 and March 31, 2016, which resulted in a tax expense that exceeded the benefit received

from the various CARES Act provisions claimed by the Company. The Company received a tax refund of $2.3 million in the third quarter of 2020.

On December 22, 2017, the Tax Cuts and Jobs Act (“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 35% to 21%, 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 31, 2017, the Company accrued $0.3 million 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 35% to 21%. As of December 31, 2018, the Company had completed the accounting for the effects of the Act. The Company had 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 had 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 2020 and 2019. The tax impact of FDII was immaterial for 2020 and 2019. The Company was not subject to an interest limitation in 2020 and 2019, due to the favorable provisions provided under the CARES Act.

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,
	2020		2019
	(in thousands)
Deferred income tax assets:
Operating lease liabilities	$	27,502	$	29,126

Stock options	2,178		2,660
Inventory	2,438		2,351
Operating loss carryforwards	9,894		8,041
Accounts receivable allowances	1,461		777
Accrued compensation	1,839		846

Deferred compensation	1,310		1,123

Other	3,061		911
Total deferred income tax assets	$	49,683	$	45,835
Deferred income tax liabilities:
Operating lease right-of-use assets	$	(23,127)	$	(25,084)
Fixed assets	(1,920)		(2,431)
Intangibles	(28,447)		(27,782)

Total deferred income tax liabilities	(53,494)		(55,297)
Net deferred income tax liability	(3,811)		(9,462)
Valuation allowance	(6,903)		(4,223)
Net deferred income tax liability	$	(10,714)	$	(13,685)

The Company has capital loss carryforwards of $7.7 million in foreign jurisdictions and $1.0 million in the U.S. federal jurisdiction at December 31, 2020 that are offset entirely by a valuation allowance.

The Company has net operating losses in foreign jurisdictions of $39.2 million and $11.8 million in state jurisdictions at December 31, 2020 that are offset entirely by a valuation allowance. The state net operating losses begin to expire in 2026.

All U.S. federal losses have been carried back as a result of the CARES Act and no carryforwards remain.

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,
	2020		2019		2018
Federal income taxes at the statutory rate	21.0	%	21.0	%	21.0	%
Increases (decreases):
State and local income taxes, net of Federal income tax benefit	38.9		(1.7)		97.4
Foreign rate differences	(43.9)		2.1		(76.1)
Impairment of goodwill (1)	65.5		(20.8)		98.6
Non-deductible expenses	16.4		(1.2)		129.9
Tax Act- revaluation of net deferred tax assets and other	—		—		16.8
Tax Act- transition tax	—		—		43.0
Uncertain tax positions	4.0		(0.3)		302.8
Research and development credit	(7.2)		1.4		(18.5)
Federal return to provision	6.8		0.4		(27.5)
Loss of Filament pre-acquisition attributes due to CARES Act	8.6		—		—
Equity-based compensation	19.4		—		—
Valuation Allowance	48.3		(3.1)		(34.2)
Other	—		(0.3)		14.4
Provision for income taxes	177.8	%	(2.5)	%	567.6	%

(1)In 2019, the rate for the impairment of goodwill was (20.8)% due to a pretax loss position.

The estimated values of the Company’s gross uncertain tax positions at December 31, 2020, 2019 and 2018 are liabilities of $1.6 million, $1.5 million and $2.0 million, respectively, and consist of the following:


	Year Ended December 31,
	2020		2019		2018
	(in thousands)
Balance at January 1	$	(1,508)	$	(1,975)	$	(161)
Additions based on tax positions related to the current year	(149)		(29)		(626)
Additions based on tax positions related to the prior year	—		—		(1,302)
Reductions for tax position of prior years	9		496		114

Balance at December 31	$	(1,648)	$	(1,508)	$	(1,975)

The Company had approximately $0.1 million and $0.1 million, net of federal and state tax benefit, accrued at December 31, 2020 and 2019, 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 2017. The Company has identified the following jurisdictions as “major” tax jurisdictions: U.S. Federal, California, Georgia, Illinois, Massachusetts, New Jersey, New York and the United Kingdom. At December 31, 2020, the periods subject to examination by the Company’s major state jurisdictions, except for New York State, are generally for the years ended 2016 through 2019. In certain jurisdictions Filament may have additional periods subject to examination. The Company’s 2015 U.S. Federal income tax return audit was completed as of June 30, 2020 with no assessments. The Company's New York State tax returns for years 2015-2016 remain under audit with no material assessments as of December 31, 2020.

- Definition

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

+ References + Details

BUSINESS SEGMENTS - Segment Reporting Information Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended			12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Restructuring expenses				$ 211	$ 1,435	$ 2,324
Goodwill and intangible asset impairment				20,100	42,990	2,205
Goodwill impairment charges				19,100	42,990	2,205
U.S.
Segment Reporting Information [Line Items]
Restructuring expenses					700	2,100
Goodwill and intangible asset impairment				20,100	33,200
Goodwill impairment charges	$ 19,100	$ 33,200		19,100	33,242
International
Segment Reporting Information [Line Items]
Restructuring expenses				200	700	200
Goodwill impairment charges			$ 9,700	$ 0	$ 9,748	$ 2,200

SALE OF ACCOUNTS RECEIVABLE	12 Months Ended
SALE OF ACCOUNTS RECEIVABLE	Dec. 31, 2020
Transfers and Servicing [Abstract]
SALE OF ACCOUNTS RECEIVABLE	SALE OF ACCOUNTS RECEIVABLE To improve its liquidity during seasonally high working capital periods, the Company has an uncommitted Receivables Purchase Agreement with HSBC Bank USA, as Purchaser (the “Receivables Purchase Agreement”). Under the Receivables Purchase Agreement, the Company may offer to sell certain eligible accounts receivables (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 $30.0 million. HSBC Bank USA will assume the credit risk of the Receivables purchased; and, 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 automatically extends for annual successive terms unless terminated. Either party may terminate the agreement at any time upon 60 days prior written notice to the other party. Pursuant to this agreement, the Company sold $159.4 million and $115.4 million of Receivables during the years ended December 31, 2020 and 2019, respectively. At December 31, 2020 and 2019, $24.7 million and $20.9 million, respectively, of receivables sold are outstanding and are due to HSBC Bank USA from customers. A charge of $0.4 million and $0.6 million related to the sale of the Receivables is included in selling, general and administrative expenses in the consolidated statements of operations for the years ended December 31, 2020 and 2019, respectively.

- Definition

The entire disclosure for a transferor's continuing involvement in financial assets that it has transferred in a securitization or asset-backed financing arrangement, the nature of any restrictions on assets reported by an entity in its statement of financial position that relate to a transferred financial asset (including the carrying amounts of such assets), how servicing assets and servicing liabilities are reported, and (for securitization or asset-backed financing arrangements accounted for as sales) when a transferor has continuing involvement with the transferred financial assets and transfers of financial assets accounted for as secured borrowings, how the transfer of financial assets affects an entity's financial position, financial performance, and cash flows.

+ References

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+ Details

CAPITAL STOCK - Summary of Stock Option (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Options
Beginning balance (in shares)	1,508,325	1,548,825	1,456,200
Grants (in shares)	37,500	296,500	205,750
Exercises (in shares)	(2,500)	(75,000)	(58,000)
Cancellations (in shares)	(14,313)	(19,625)	(22,375)
Expirations (in shares)	(242,112)	(242,375)	(32,750)
Ending balance (in shares)	1,286,900	1,508,325	1,548,825
Options exercisable at End of Period (in shares)	986,607
Weighted- average exercise price
Beginning balance (usd per share)	$ 13.43	$ 13.87	$ 13.64
Grants (usd per share)	6.36	9.21	13.56
Exercised (usd per share)	10.79	4.28	4.93
Cancellations (usd per share)	11.09	12.94	16.95
Expirations (usd per share)	13.27	13.95	15.50
Ending balance (usd per share)	13.28	$ 13.43	$ 13.87
Options exercisable at End of Period (usd per share)	$ 14.27
Weighted- average remaining contractual life (years)
Options outstanding, ending balance	4 years 8 months 12 days
Options exercisable, ending balance	3 years 8 months 12 days
Aggregate intrinsic value
Options outstanding, end of period	$ 3,604
Options exercisable, end of period	$ 2,035

LEASES - Aggregate Future Lease Payments (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Leases [Abstract]
2021	$ 18,112
2022	18,199
2023	18,176
2024	17,857
2025	17,831
Thereafter	56,115
Total lease payments	146,290
Less: Interest	(32,455)
Present value of lease payments	$ 113,835

BUSINESS SEGMENTS (Tables)

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Segment Reporting Information


	Year Ended December 31,
	2020		2019		2018
			(in thousands)
Net sales:
U.S.	$	683,539	$	644,171	$	609,114
International	85,630		90,731		95,428
Total net sales	$	769,169	$	734,902	$	704,542
Income from operations:
U.S. (1)(2)	$	60,378	$	19,826	$	44,213
International (3)(4)	(12,835)		(22,962)		(5,395)
Unallocated corporate expenses	(22,573)		(20,259)		(20,239)
Total income from operations	$	24,970	$	(23,395)	$	18,579
Depreciation and amortization:
U.S.	$	20,018	$	20,653	$	18,840
International	4,646		4,462		4,489
Total depreciation and amortization	$	24,664	$	25,115	$	23,329
Capital expenditures:
U.S.	$	1,467	$	2,078	$	7,746
International	615		7,091		156
Total capital expenditures	$	2,082	$	9,169	$	7,902

(1)In 2019 and 2018, income from operations for the U.S. segment includes $0.7 million and $2.1 million of restructuring expenses related to the U.S. restructuring plan and the Filament integration, respectively, as described in NOTE 1 — SIGNIFICANT ACCOUNTING POLICIES

(2)In 2020 and 2019, the Company recognized non-cash impairment charges of $20.1 million and $33.2 million, respectively, related to the U.S. segment as described in NOTE 7 — GOODWILL AND INTANGIBLE ASSETS

(3)In 2020, 2019 and 2018, income from operations for the International segment includes $0.2 million, $0.7 million and $0.2 million, respectively, of restructuring expenses, as described in NOTE 1 — SIGNIFICANT ACCOUNTING POLICIES.

(4)In 2019 and 2018, The Company recognized a $9.7 million non-cash goodwill impairment charge related to the European kitchenware business and a non-cash goodwill impairment charge of $2.2 million related to the European tableware business, respectively, as described in NOTE 7 — GOODWILL AND INTANGIBLE ASSETS


	December 31,
	2020		2019
	(in thousands)
Assets:
U.S.	$	661,321	$	639,047
International	110,222		117,935
Unallocated corporate	35,938		13,041
Total assets	$	807,481	$	770,023


	Year Ended December 31,
	2020		2019
	(in thousands)
Goodwill:
U.S.
Beginning balance	$	49,371	$	81,641

Purchase price adjustment	—		972
Impairment	(19,100)		(33,242)
Ending balance	30,271		49,371
International
Beginning balance	—		10,049

Foreign currency translation adjustment	—		(301)
Impairment	—		(9,748)
Ending balance	—		—
Total goodwill	$	30,271	$	49,371

Net Sales and Long-Lived Assets by Major Geographic Locations

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


	December,
	2020		2019
	(in thousands)
Long-lived assets, excluding intangible assets, at period-end:
United States	$	16,985	$	23,455
Mexico	20,032		21,288
United Kingdom	8,157		8,353
Rest of World	446		432
Total	$	45,620	$	53,528

OTHER - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Supplemental Cash Flow Information [Abstract]
Cash paid for interest	$ 15,476	$ 18,859	$ 16,319
Cash paid for taxes, net of refunds	5,161	2,057	2,599
Non-cash investing activities:
Translation adjustment	$ (2,062)	$ (292)	$ (5,906)

DEBT (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Schedule of Line of Credit Facilities

As of December 31, 2020 and 2019, the total availability under the ABL Agreement were as follows (in thousands):


	December 31, 2020		December 31, 2019
Maximum aggregate principal allowed	$	150,000	$	150,000
Outstanding borrowings under the ABL Agreement	(27,302)		(32,822)
Standby letters of credit	(2,698)		(2,288)
Total availability under the ABL Agreement	$	120,000	$	114,890

Schedule of Long-term Debt Instruments

The current and non-current portions of the Company’s Term Loan facility included in the consolidated balance sheets are presented as follows (in thousands):


	December 31, 2020		December 31, 2019
Current portion of Term Loan facility:
Term Loan facility payment	$	—	$	2,750
Estimated Excess Cash Flow principal payment	19,120		7,145
Estimated unamortized debt issuance costs	(1,463)		(1,482)
Total Current portion of Term Loan facility	$	17,657	$	8,413

Non-current portion of Term Loan facility:
Term Loan facility, net of current portion	$	243,485	$	260,293
Estimated unamortized debt issuance costs	(4,508)		(6,012)
Total Non-current portion of Term Loan facility	$	238,977	$	254,281

- Definition

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

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+ Details

Valuation and Qualifying Accounts [Schedule] Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	$ 9,681	$ 7,855	$ 6,190
Charged to costs and expenses	15,792	6,926	5,503
Deductions	(8,460)	(5,100)	(3,838)
Balance at end of period	17,013	9,681	7,855
Allowance for doubtful accounts
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	1,333	1,496	1,158
Charged to costs and expenses	4,512	536	786
Deductions	(1,221)	(699)	(448)
Balance at end of period	4,624	1,333	1,496
Reserve for sales returns and allowances
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	8,348	6,359	5,032
Charged to costs and expenses	11,280	6,390	4,717
Deductions	(7,239)	(4,401)	(3,390)
Balance at end of period	$ 12,389	$ 8,348	$ 6,359

INCOME TAXES - Provision for Income Taxes (Before Equity in Earnings) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current:
Federal	$ 8,522	$ 906	$ 775
State and local	2,540	884	351
Foreign	665	392	(323)
Deferred	(1,861)	(1,073)	2,086
Income tax provision	$ 9,866	$ 1,109	$ 2,889

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

OTHER - Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Customer allowances and rebates	$ 30,913	$ 18,834
Compensation and benefits	19,016	10,542
Interest	749	334
Vendor invoices	6,536	3,428
Royalties	3,007	2,391
Commissions	1,380	894
Freight	6,669	3,263
Professional fees	2,060	1,941
Foreign exchange forward contracts	0	180
Restructuring	0	59
Other	9,720	10,194
Total	$ 80,050	$ 52,060

OTHER - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Depreciation charge	$ 7.4	$ 8.0	$ 8.0

RETIREMENT PLANS (Tables)

12 Months Ended

Dec. 31, 2020

Postemployment Benefits [Abstract]

Future Benefit Payments

Expected benefit payments for each of the next five fiscal years and in the aggregate for the five fiscal years thereafter are as follows (in thousands):


Year ending December 31,
2021	$	431
2022	474
2023	455
2024	435
2025	417
2026 through 2030	1,845

Cover Page - USD ($)	12 Months Ended
Cover Page - USD ($)	Dec. 31, 2020	Feb. 28, 2021	Jun. 30, 2020
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	0-19254
Entity Registrant Name	LIFETIME BRANDS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	11-2682486
Entity Address, Address Line One	1000 Stewart Avenue
Entity Address, City or Town	Garden City
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	11530
City Area Code	516
Local Phone Number	683-6000
Title of 12(b) Security	Common Stock, $.01 par value
Trading Symbol	LCUT
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 87,237,414
Entity Common Stock, Shares Outstanding		21,771,680
Documents Incorporated by Reference	Parts of the registrant’s definitive proxy statement for the 2021 Annual Meeting of Stockholders to be filed pursuant to Regulation 14A under the Securities Exchange Act of 1934 are incorporated by reference in Part III of this Annual Report.
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Entity Central Index Key	0000874396

LEASES (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Lease, Cost

The components of lease costs for the year ended December 31, 2020 and 2019 were as follows (in thousands):


	Year Ended December 31,
	2020		2019
Operating lease costs (1):
Fixed lease expense	$	18,181	$	18,898
Variable lease expense	3,798		$	4,571
Total	$	21,979	$	23,469

(1) Expenses are recorded in selling, general and administrative expenses.

Schedule Of Supplemental Cash Flow Information Related To Leases

Supplemental cash flow information for the year ended December 31, 2020 and 2019 were as follows (in thousands):


	Year Ended December 31,
	2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	15,802	$	17,851
Total	$	15,802	$	17,851


	Year Ended December 31,
	2020		2019
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	0	$	118,447
Total	$	0	$	118,447

Lessee, Operating Lease, Liability, Maturity

The aggregate future lease payments for operating leases as of December 31, 2020 were as follows (in thousands):


	Operating
2021	$	18,112
2022	18,199
2023	18,176
2024	17,857
2025	17,831
Thereafter	56,115
Total lease payments	146,290
Less: Interest	(32,455)
Present value of lease payments	$	113,835

Schedule Of Average Lease Terms And Discount Rates

Average lease terms and discount rates were as follows:


	December 31, 2020		December 31, 2019
Weighted-average remaining lease term (years)
Operating leases	8.2		9.1
Weighted-average discount rate
Operating leases	6.2	%	6.2	%

LOSS PER COMMON SHARE

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

LOSS PER COMMON SHARE

Basic loss per common share has been computed by dividing net loss by the weighted-average number of shares of the Company’s common stock outstanding. Diluted loss per common share adjusts net loss and basic loss per common share for the effect of all potentially dilutive shares of the Company’s common stock. Anti-dilutive securities are not included in the computation of diluted earnings per share under the treasury stock method.

The calculations of basic and diluted loss per common share for the years ended December 31, 2020, 2019 and 2018, are as follows:


	2020		2019		2018
	(in thousands - except per share amounts)
Net loss – Basic and Diluted	$	(3,007)	$	(44,415)	$	(1,720)
Weighted-average shares outstanding – Basic	20,860		20,597		19,452
Effect of dilutive securities:
Stock options and other stock awards	—		—		—
Weighted-average shares outstanding – Diluted	20,860		20,597		19,452
Basic loss per common share	$	(0.14)	$	(2.16)	$	(0.09)
Diluted loss per common share	$	(0.14)	$	(2.16)	$	(0.09)
Antidilutive shares (1)	2,167		2,120		1,869

(1) Stock options and other stock awards that have been excluded from the denominator as their inclusion would have been anti-dilutive.

CAPITAL STOCK - Fair Value Stock Options at Grant Date using Weighted-Average Assumption (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Equity [Abstract]
Historical volatility	49.00%	35.00%	34.00%
Expected term (years)	6 years 3 months 18 days	6 years	6 years
Risk-free interest rate	0.45%	1.82%	2.72%
Expected dividend yield	2.67%	1.80%	1.22%

OTHER - Long term liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Retirement benefit obligations	$ 7,534	$ 6,838
Other non-income tax liabilities	2,824	2,705
Derivative financial instruments	2,776	0
Unearned revenues	1,444	1,728
Deferred payroll non-income tax liabilities	1,261	0
Royalty obligation	475	878
Other long term obligations	169	65
OTHER LONG-TERM LIABILITIES	$ 16,483	$ 12,214

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Accounts receivable, allowances	$ 17,013	$ 9,681
Common stock, par value (usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares outstanding (in shares)	21,755,195	21,255,660
Common stock, shares issued (in shares)	21,755,195	21,255,660
Preferred stock Series A
Preferred stock, outstanding (in shares)	0	0
Preferred stock, issued (in shares)	0	0
Preferred stock, par value (usd per share)	$ 1.00	$ 1.00
Preferred stock, shares authorized (in shares)	100	100
Preferred stock Series B
Preferred stock, outstanding (in shares)	0	0
Preferred stock, issued (in shares)	0	0
Preferred stock, par value (usd per share)	$ 1.00	$ 1.00
Preferred stock, shares authorized (in shares)	2,000,000	2,000,000

Consolidated Statements of Stockholders' Equity - USD ($)
$ in Thousands

Total

Director

Employee

Common stock

Director

Common stock

Employee

Paid-in capital

Employee

Retained earnings

Accumulated other comprehensive loss

Balance at beginning of year (in shares) at Dec. 31, 2017

14,903,000

Balance at beginning of year at Dec. 31, 2017

$ 210,279

$ 149

$ 178,909

$ 60,546

$ (29,325)

Comprehensive (loss) income:

Net loss

(1,720)

Total translation loss

(5,906)

Derivative fair value adjustment

147

Effect of retirement benefit obligations

468

Comprehensive loss

(7,011)

Restricted shares granted to directors (in shares)

46,000

Restricted shares granted to directors

$ 0

Net issuance of restricted shares granted to employees (in shares)

211,000

Net issuance of restricted shares granted to employees

$ 0

$ 2

$ (2)

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

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

Stock compensation expense

$ 4,091

4,091

Net exercise of stock options (in shares)

58,000

Net 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)

Balance at end of year (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)

Comprehensive (loss) income:

Net loss

(44,415)

Total translation loss

(292)

Derivative fair value adjustment

1,003

Effect of retirement benefit obligations

(550)

Comprehensive loss

(44,254)

Net issuance of restricted shares granted to employees (in shares)

416,000

Net issuance of restricted shares granted to employees

$ 0

$ 4

(4)

Performance shares issued to employees (in shares)

67,000

Performance shares issued to employees

$ 1

(1)

Stock compensation expense

$ 5,021

5,021

Net exercise of stock options (in shares)

75,000

53,000

Net exercise of stock options

$ 132

$ 1

131

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

(44,000)

Shares effectively repurchased for required employee withholding taxes

(399)

$ (1)

(398)

Dividends

^[1]

(3,676)

Balance at end of year (in shares) at Dec. 31, 2019

21,256,000

Balance at end of year at Dec. 31, 2019

236,317

$ 213

263,386

7,173

(34,455)

Comprehensive (loss) income:

Net loss

(3,007)

Total translation loss

(1,827)

Derivative fair value adjustment

(2,289)

Effect of retirement benefit obligations

(601)

Comprehensive loss

(7,724)

Net issuance of restricted shares granted to employees (in shares)

525,000

Net issuance of restricted shares granted to employees

$ 5

(5)

Performance shares issued to employees (in shares)

62,000

Performance shares issued to employees

$ 1

$ (1)

Stock compensation expense

$ 5,916

5,916

Net exercise of stock options (in shares)

2,500

3,000

Net exercise of stock options

$ 27

$ 0

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

(91,000)

Shares effectively repurchased for required employee withholding taxes

(658)

$ (1)

(657)

Dividends

^[1]

(3,742)

Balance at end of year (in shares) at Dec. 31, 2020

21,755,000

Balance at end of year at Dec. 31, 2020

$ 230,136

$ 218

$ 268,666

$ 424

$ (39,172)

[1]	Cash dividend declared per share of common stock, were $0.17, $0.17 and $0.17 in 2018, 2019 and 2020, respectively.

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Components of Income before Income Taxes

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


	Year Ended December 31,
	2020		2019		2018
	(in thousands)
Domestic	$	18,012	$	(21,311)	$	5,455
Foreign	(12,463)		(22,462)		(4,946)
Total income (loss) before income taxes and equity in earnings	$	5,549	$	(43,773)	$	509

Provision for Income Taxes

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


	Year Ended December 31,
	2020		2019		2018
	(in thousands)
Current:
Federal	$	8,522	$	906	$	775
State and local	2,540		884		351
Foreign	665		392		(323)
Deferred	(1,861)		(1,073)		2,086
Income tax provision	$	9,866	$	1,109	$	2,889

Significant Components of Net Deferred Income Tax Asset (Liability)

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


	December 31,
	2020		2019
	(in thousands)
Deferred income tax assets:
Operating lease liabilities	$	27,502	$	29,126

Stock options	2,178		2,660
Inventory	2,438		2,351
Operating loss carryforwards	9,894		8,041
Accounts receivable allowances	1,461		777
Accrued compensation	1,839		846

Deferred compensation	1,310		1,123

Other	3,061		911
Total deferred income tax assets	$	49,683	$	45,835
Deferred income tax liabilities:
Operating lease right-of-use assets	$	(23,127)	$	(25,084)
Fixed assets	(1,920)		(2,431)
Intangibles	(28,447)		(27,782)

Total deferred income tax liabilities	(53,494)		(55,297)
Net deferred income tax liability	(3,811)		(9,462)
Valuation allowance	(6,903)		(4,223)
Net deferred income tax liability	$	(10,714)	$	(13,685)

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,
	2020		2019		2018
Federal income taxes at the statutory rate	21.0	%	21.0	%	21.0	%
Increases (decreases):
State and local income taxes, net of Federal income tax benefit	38.9		(1.7)		97.4
Foreign rate differences	(43.9)		2.1		(76.1)
Impairment of goodwill (1)	65.5		(20.8)		98.6
Non-deductible expenses	16.4		(1.2)		129.9
Tax Act- revaluation of net deferred tax assets and other	—		—		16.8
Tax Act- transition tax	—		—		43.0
Uncertain tax positions	4.0		(0.3)		302.8
Research and development credit	(7.2)		1.4		(18.5)
Federal return to provision	6.8		0.4		(27.5)
Loss of Filament pre-acquisition attributes due to CARES Act	8.6		—		—
Equity-based compensation	19.4		—		—
Valuation Allowance	48.3		(3.1)		(34.2)
Other	—		(0.3)		14.4
Provision for income taxes	177.8	%	(2.5)	%	567.6	%

(1)In 2019, the rate for the impairment of goodwill was (20.8)% due to a pretax loss position.

Estimated Values of Gross Uncertain Tax Positions


	Year Ended December 31,
	2020		2019		2018
	(in thousands)
Balance at January 1	$	(1,508)	$	(1,975)	$	(161)
Additions based on tax positions related to the current year	(149)		(29)		(626)
Additions based on tax positions related to the prior year	—		—		(1,302)
Reductions for tax position of prior years	9		496		114

Balance at December 31	$	(1,648)	$	(1,508)	$	(1,975)

OTHER

12 Months Ended

Dec. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

OTHER

Inventory

The components of inventory are as follows:


	December 31,
	2020		2019
	(in thousands)
Finished goods	$	194,209	$	165,950
Work in process	45		61
Raw materials	8,910		7,416
Total	$	203,164	$	173,427

Property and equipment

Property and equipment (including finance leases) consist of:


	December 31,
	2020		2019
	(in thousands)
Machinery, furniture and equipment	$	74,494	$	73,634
Leasehold improvements	38,467		38,293
Computer hardware and software	36,997		35,458
Building and improvements	791		780
Construction in progress	87		337
Land	100		100
Total	150,936		148,602
Less: accumulated depreciation and amortization	(127,816)		(120,434)
Total	$	23,120	$	28,168

Depreciation and amortization expense of property and equipment for the years ended December 31, 2020, 2019 and 2018 was $7.4 million, $8.0 million and $8.0 million, respectively.

Long term liabilities

Long term liabilities consist of:


	December 31,
	2020		2019
	(in thousands)
Retirement benefit obligations	$	7,534	$	6,838
Other non-income tax liabilities	2,824		2,705
Derivative financial instruments	2,776		—
Unearned revenues	1,444		1,728
Deferred payroll non-income tax liabilities	1,261		—
Royalty obligation	475		878


Other long term obligations	169		65


Total	$	16,483	$	12,214

Accrued expenses

Accrued expenses consist of:


	December 31,
	2020		2019
	(in thousands)
Customer allowances and rebates	$	30,913	$	18,834
Compensation and benefits	19,016		10,542
Interest	749		334
Vendor invoices	6,536		3,428
Royalties	3,007		2,391
Commissions	1,380		894
Freight	6,669		3,263
Professional fees	2,060		1,941
Foreign exchange forward contracts	—		180
Restructuring	—		59
Other	9,720		10,194
Total	$	80,050	$	52,060

Supplemental disclosure of cash flow information


	Year Ended December 31,
	2020		2019		2018
			(in thousands)

Cash paid for interest	$	15,476	$	18,859	$	16,319
Cash paid for taxes, net of refunds	5,161		2,057		2,599
Non-cash investing activities:
Translation adjustment	$	(2,062)	$	(292)	$	(5,906)

Components of accumulated other comprehensive loss, net


	Year Ended December 31,
	2020		2019		2018
			(in thousands)
Accumulated translation adjustment:
Balance at beginning of year	$	(34,019)	$	(33,727)	$	(27,821)
Translation adjustment during period	(2,062)		(292)		(5,906)
Amount reclassified from accumulated other comprehensive loss: (1)
Currency translation adjustment	235		—		—
Balance at end of year	$	(35,846)	$	(34,019)	$	(33,727)
Accumulated deferred gains (losses) on cash flow hedges:
Balance at beginning of year	$	1,164	$	161	$	14
Derivative fair value adjustment, net of tax	(3,273)		1,212		161
Amounts reclassified from accumulated other comprehensive loss: (2)
Settlement of cash flow hedges	984		(209)		(14)
Balance at end of year	$	(1,125)	$	1,164	$	161
Accumulated effect of retirement benefit obligations:
Balance at beginning of year	$	(1,600)	$	(1,050)	$	(1,518)
Net (loss) income arising from retirement benefit obligations, net of tax	(680)		(601)		373
Amount reclassified from accumulated other comprehensive loss:(3)
Amortization of loss, net of tax	79		51		95
Balance at end of year	$	(2,201)	$	(1,600)	$	(1,050)
Total accumulated other comprehensive loss at end of period	$	(39,172)	$	(34,455)	$	(34,616)

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

(2)Amounts reclassified are recorded in interest expense and cost of goods sold on the consolidated statements of operations.

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

GOODWILL AND INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Components of Intangible Assets Included in Wholesale Segment

The Company’s intangible assets consist of the following (in thousands):


	Year Ended December 31,
	2020								2019
	Gross		Impairment		Accumulated Amortization		Net		Gross		Impairment		Accumulated Amortization		Net
Goodwill	$	49,371	$	(19,100)	$	—	$	30,271	$	92,361	$	(42,990)	$	—	$	49,371
Indefinite -lived intangible assets:
Trade names (1)	50,600		(1,000)		—		49,600		58,216		—		—		58,216
Finite -lived intangible assets:
Licenses	15,847				(10,742)		5,105		15,847				(10,287)		5,560
Trade names (1)	52,030				(20,874)		31,156		43,986				(17,337)		26,649
Customer relationships	177,801				(54,008)		123,793		176,602				(40,605)		135,997
Other	6,582				(2,482)		4,100		6,546				(1,868)		4,678
Total	$	352,231	$	(20,100)	$	(88,106)	$	244,025	$	393,558	$	(42,990)	$	(70,097)	$	280,471

(1) During 2020, as part of the Company’s annual impairment analysis of indefinite-lived trade names it was determined that certain of the Company’s trade names, previously estimated to contribute to cash flows indefinitely, have definite lives. Accordingly, these trade names were reclassified from indefinite-lived to finite-lived or amortizable intangible assets as of October 1, 2020. These trade names are being amortized over an estimated useful life of 18 years.

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, 2020, 2019 and 2018 consists of the following (in thousands):


	Intangible Assets		Goodwill		Total Intangible Assets and Goodwill
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
Purchase price adjustment	—		972		972




Foreign currency translation adjustment	786		(301)		485
Amortization	(16,843)		—		(16,843)
Impairment of goodwill	—		(42,990)		(42,990)
Goodwill and Intangible Assets, December 31, 2019	231,100		49,371		280,471




Foreign currency translation adjustment	607		—		607
Amortization	(16,953)		—		(16,953)
Impairment of indefinite -lived intangible assets	(1,000)		—		(1,000)
Impairment of goodwill	—		(19,100)		(19,100)
Goodwill and Intangible Assets, December 31, 2020	$	213,754	$	30,271	$	244,025

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, 2020 are as follows:


			Years
Trade names			16
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,
2021	$	17,014
2022	17,014
2023	16,971
2024	16,387
2025	16,121

DEBT

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

DEBT

The Company’s credit agreement (the “ABL Agreement”) with JPMorgan Chase Bank, N.A. (“JPMorgan”), includes a senior secured asset-based revolving credit facility in the maximum aggregate principal amount of $150.0 million, which facility will mature on March 2, 2023, and a loan agreement (the “Term Loan” and together with the ABL Agreement, the “Debt Agreements”) provides for a senior secured term loan credit facility in the original principal amount of $275.0 million, which matures on February 28, 2025. The Term Loan facility will be repaid in quarterly payments, which commenced June 30, 2018, of principal equal to 0.25% of the original aggregate principal amount of the Term Loan facility. The Term Loan requires the Company to make an annual prepayment of principal based upon excess cash flow (the “Excess Cash Flow”), if any. This estimated amount is recorded in the current maturity of term loan on the consolidated balance sheets. Per the Debt Agreements, when the Company makes an Excess Cash Flow payment, the payment is first applied to satisfy the future quarterly required payments in order of maturity. 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 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.

As of December 31, 2020 and 2019, the total availability under the ABL Agreement were as follows (in thousands):


	December 31, 2020		December 31, 2019
Maximum aggregate principal allowed	$	150,000	$	150,000
Outstanding borrowings under the ABL Agreement	(27,302)		(32,822)
Standby letters of credit	(2,698)		(2,288)
Total availability under the ABL Agreement	$	120,000	$	114,890

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.

The current and non-current portions of the Company’s Term Loan facility included in the consolidated balance sheets are presented as follows (in thousands):


	December 31, 2020		December 31, 2019
Current portion of Term Loan facility:
Term Loan facility payment	$	—	$	2,750
Estimated Excess Cash Flow principal payment	19,120		7,145
Estimated unamortized debt issuance costs	(1,463)		(1,482)
Total Current portion of Term Loan facility	$	17,657	$	8,413

Non-current portion of Term Loan facility:
Term Loan facility, net of current portion	$	243,485	$	260,293
Estimated unamortized debt issuance costs	(4,508)		(6,012)
Total Non-current portion of Term Loan facility	$	238,977	$	254,281

As of December 31, 2020, the future principal payments of the Term Loan are $19.1 million, due in 2021 and $243.5 million, due at loan maturity in 2025. The quarterly principal payments have been satisfied through maturity of the Term Loan by the annual Excess Cash Flow payments.

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. The interest rate on outstanding borrowings under the ABL Agreement at December 31, 2020 was 1.52%. In addition, the Company paid a commitment fee that ranged from 0.250% to 0.375% on the unused portion of the ABL Agreement during the year ended December 31, 2020.

The Term Loan facility 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 0.50% or one-month LIBOR 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, 2020 was 4.5%.

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 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, 2020. The Company expects that it will continue to borrow and repay funds, subject to availability, under the ABL Agreement based on working capital and other corporate needs.

Other Credit Agreements

In 2019, a subsidiary of the Company held a credit facility (“HSBC Facility”) with HSBC Bank (China) Company Limited, Shanghai Branch (“HSBC”) for up to $18.0 million Chinese renminbi ($2.6 million). The HSBC Facility was subject to annual renewal and may have been used to fund general working capital needs of the Company’s subsidiary, which is a trading company in the China. Borrowings under the HSBC Facility were guaranteed by the Company and were granted at the sole discretion of HSBC. No borrowings were outstanding under the HSBC Facility at December 31, 2019. The credit facility was not renewed as of December 31, 2020.

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTSAcquisition of Year and DayOn February 26, 2021, the Company acquired the business and certain assets of Year and Day, a designer and distributor of ceramic dinnerware, stainless steel flatware and Italian glassware.

GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

The Company’s intangible assets consist of the following (in thousands):


	Year Ended December 31,
	2020								2019
	Gross		Impairment		Accumulated Amortization		Net		Gross		Impairment		Accumulated Amortization		Net
Goodwill	$	49,371	$	(19,100)	$	—	$	30,271	$	92,361	$	(42,990)	$	—	$	49,371
Indefinite -lived intangible assets:
Trade names (1)	50,600		(1,000)		—		49,600		58,216		—		—		58,216
Finite -lived intangible assets:
Licenses	15,847				(10,742)		5,105		15,847				(10,287)		5,560
Trade names (1)	52,030				(20,874)		31,156		43,986				(17,337)		26,649
Customer relationships	177,801				(54,008)		123,793		176,602				(40,605)		135,997
Other	6,582				(2,482)		4,100		6,546				(1,868)		4,678
Total	$	352,231	$	(20,100)	$	(88,106)	$	244,025	$	393,558	$	(42,990)	$	(70,097)	$	280,471

A summary of the activities related to the Company’s intangible assets for the years ended December 31, 2020, 2019 and 2018 consists of the following (in thousands):


	Intangible Assets		Goodwill		Total Intangible Assets and Goodwill
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
Purchase price adjustment	—		972		972




Foreign currency translation adjustment	786		(301)		485
Amortization	(16,843)		—		(16,843)
Impairment of goodwill	—		(42,990)		(42,990)
Goodwill and Intangible Assets, December 31, 2019	231,100		49,371		280,471




Foreign currency translation adjustment	607		—		607
Amortization	(16,953)		—		(16,953)
Impairment of indefinite -lived intangible assets	(1,000)		—		(1,000)
Impairment of goodwill	—		(19,100)		(19,100)
Goodwill and Intangible Assets, December 31, 2020	$	213,754	$	30,271	$	244,025

The weighted-average amortization periods for the Company’s finite-lived intangible assets as of December 31, 2020 are as follows:


			Years
Trade names			16
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,
2021	$	17,014
2022	17,014
2023	16,971
2024	16,387
2025	16,121

Amortization expense for the years ended December 31, 2020, 2019 and 2018 was $17.0 million, $16.8 million and $15.3 million, respectively.

Goodwill impairment test

The Company reviews goodwill and other intangibles that have indefinite lives for impairment annually as of October 1st or when events or changes in circumstances indicate the carrying value of these assets might exceed their current fair values. For goodwill, impairment testing is based upon the best information available using a combination of the discounted cash flow method, a form of the income approach, and the guideline public company method, a form of the 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. For the guideline public company method, significant assumptions relate to the selection of appropriate guideline companies and related valuation multiples used in the market analysis.

Although the Company believes the assumptions and estimates made are reasonable and appropriate, different assumptions and estimates could materially impact its reported financial results. In addition, sustained declines in the Company's stock price and related market capitalization could impact key assumptions in the overall estimated fair values of its reporting units and could result in non-cash impairment charges that could be material to the Company's consolidated balance sheet or results of operations. Should the carrying value of a reporting unit be in excess of the estimated fair value of that reporting unit, an impairment charge will be recorded to reduce the reporting unit to fair value. 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. The significant assumptions used in the relief from royalty model are future net sales for the related brands, royalty rates and the cost of capital to determine the fair value of the indefinite lived intangibles.

International Reporting Unit

The carrying value of the goodwill for the International reporting unit was zero as of December 31, 2020.

During 2019 several impairment indicators for the European kitchenware business were considered by the Company including the continued uncertainties of the macro-environment in Europe as a result of the then-ongoing Brexit negotiations. In addition, the Company considered the decline in operating performance for the European kitchenware business, which included slower fulfillment of orders and labor inefficiencies associated with setting up the new warehouse in the U.K. These factors resulted in a decline in the long-term forecast for the European kitchenware business.

In the third quarter of 2019, the Company performed an interim assessment of its European kitchenware business by comparing the fair value of the reporting unit with its carrying value as of September 30, 2019. The Company performed the analysis using a discounted cash flow and market multiple approach. Based upon the analysis performed, the Company recognized a $9.7 million non-cash goodwill impairment charge during the third quarter of 2019. The goodwill impairment charge was the result of a decline in operating performance and reduced expectations for future cash flows of the European kitchenware business. The fair value of the business was approximately 30.1% below its carrying value as of September 30, 2019.

During the third quarter of 2019 the Company also determined its European kitchenware and tableware reporting units had met the criteria to be combined into one reporting unit based on the guidance of ASC Topic No. 350, Intangibles - Goodwill and Other and ASC Topic No. 280, Segment Reporting.

In 2018, the Company incurred a non-cash goodwill impairment charge of $2.2 million related to the European tableware business due to a decline in operating performance and reduced expectations for future cash flows.

U.S. Reporting Unit

During the first quarter of 2020, as a result of the economic downturn caused by the COVID-19 pandemic, the Company performed an interim assessment of the goodwill for the U.S. reporting unit as of March 31, 2020, by comparing the fair value of the reporting unit with its carrying value. The Company performed the analysis using a discounted cash flow and market multiple method. Based upon the analysis performed, the Company recognized a non-cash goodwill impairment charge of $19.1 million during the first quarter of 2020. The goodwill impairment charge resulted from, among other factors, the uncertain market conditions arising from the COVID-19 pandemic, which impacted the Company's market capitalization, as well as a reduction of forecasted future cash flows associated with the effects of the COVID-19 pandemic. The fair value of the U.S. reporting unit was approximately 3.9% below its carrying value as of March 31, 2020.

The Company performed its annual impairment assessment of its U.S. reporting unit as of October 1, 2020 by comparing the fair value of the reporting unit with its carrying value. The Company performed the analysis using a discounted cash flow and market multiple method. As of October 1, 2020, the fair value of the U.S. reporting unit exceeded the carrying value of goodwill.

Management’s projections used to estimate the cash flows included organic net sales growth and net sales growth through new customer channels as well as continued operating efficiencies in future periods. 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.

As of December 31, 2020, the Company assessed the carrying value of goodwill and determined, based on qualitative factors, that no further impairment existed for goodwill.

In 2019, the Company recognized a non-cash goodwill impairment charge of $33.2 million, during the three months ended December 31, 2019. The Company performed the analysis using a discounted cash flow and market multiple method. The goodwill impairment charge resulted from, among other factors, a sustained decline in the Company's market capitalization observed in the fourth quarter of 2019. The fair value of the U.S, reporting unit was approximately 6.1% below its carrying value at October 1, 2019.

Annual indefinite-lived trade name impairment test

The Company values its indefinite-lived trade names using a relief-from-royalty approach, which assumes the value of the trade name is the discounted cash flows of the amount that would be paid by a hypothetical market participant had they not owned the trade name and instead licensed the trade name from another company.

During the first quarter of 2020, as a result of the economic decline caused by the COVID-19 pandemic, the Company determined its indefinite-lived trade names had indicators for impairment. As a result, the Company bypassed the optional qualitative impairment analysis for its indefinite-lived trade names and performed an interim quantitative impairment analysis as of March 31, 2020, by comparing the fair value of the indefinite-lived trade names to their respective carrying values. As a result of the impairment testing performed in connection with the COVID-19 pandemic triggering event, the Company determined that certain of its indefinite-lived intangible assets in the U.S. segment were impaired. As a result, the Company recorded a $1.0 million non-cash impairment charge during the first quarter of 2020.

The Company bypassed the optional qualitative impairment analysis for its indefinite-lived trade name assets annual October 1, 2020 impairment test. As of October 1, 2020, the Company completed the quantitative impairment analysis by comparing the fair value of the indefinite-lived trade names to their respective carrying value. The Company determined that the fair value of all its indefinite-lived trade names were above their respective carrying values. While the indefinite-lived trade names were not determined to be impaired, the indefinite-lived trade names are at risk of future impairment in the event the trade names do not perform as projected or if market factors utilized in the impairment analysis deteriorate, including an unfavorable change in long-term growth rates or the weighted average cost of capital.

As of December 31, 2020, the Company assessed the carrying value of its indefinite-lived trade names and determined based on qualitative factors that no impairment existed.

BUSINESS SEGMENTS

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

BUSINESS SEGMENTS

Segment information

The Company has two reportable segments, U.S. and International. 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 directly to consumers through its own 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,
	2020		2019		2018
			(in thousands)
Net sales:
U.S.	$	683,539	$	644,171	$	609,114
International	85,630		90,731		95,428
Total net sales	$	769,169	$	734,902	$	704,542
Income from operations:
U.S. (1)(2)	$	60,378	$	19,826	$	44,213
International (3)(4)	(12,835)		(22,962)		(5,395)
Unallocated corporate expenses	(22,573)		(20,259)		(20,239)
Total income from operations	$	24,970	$	(23,395)	$	18,579
Depreciation and amortization:
U.S.	$	20,018	$	20,653	$	18,840
International	4,646		4,462		4,489
Total depreciation and amortization	$	24,664	$	25,115	$	23,329
Capital expenditures:
U.S.	$	1,467	$	2,078	$	7,746
International	615		7,091		156
Total capital expenditures	$	2,082	$	9,169	$	7,902


	December 31,
	2020		2019
	(in thousands)
Assets:
U.S.	$	661,321	$	639,047
International	110,222		117,935
Unallocated corporate	35,938		13,041
Total assets	$	807,481	$	770,023


	Year Ended December 31,
	2020		2019
	(in thousands)
Goodwill:
U.S.
Beginning balance	$	49,371	$	81,641

Purchase price adjustment	—		972
Impairment	(19,100)		(33,242)
Ending balance	30,271		49,371
International
Beginning balance	—		10,049

Foreign currency translation adjustment	—		(301)
Impairment	—		(9,748)
Ending balance	—		—
Total goodwill	$	30,271	$	49,371

Geographical information

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


	December,
	2020		2019
	(in thousands)
Long-lived assets, excluding intangible assets, at period-end:
United States	$	16,985	$	23,455
Mexico	20,032		21,288
United Kingdom	8,157		8,353
Rest of World	446		432
Total	$	45,620	$	53,528

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Paragraph 21
-Subparagraph (a)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
Net sales	$ 769,169	$ 734,902	$ 704,542
Cost of sales	495,171	479,711	448,785
Gross margin	273,998	255,191	255,757
Distribution expenses	72,845	72,543	69,716
Selling, general and administrative expenses	155,872	161,618	162,933
Goodwill and other impairments	20,100	42,990	2,205
Restructuring expenses	211	1,435	2,324
Income (loss) from operations	24,970	(23,395)	18,579
Interest expense	(17,277)	(20,780)	(18,004)
Mark to market (loss) gain on interest rate derivatives	(2,144)	402	0
Loss on early retirement of debt	0	0	(66)
Income (loss) before income taxes and equity in earnings	5,549	(43,773)	509
Income tax provision	(9,866)	(1,109)	(2,889)
Equity in earnings, net of taxes	1,310	467	660
NET LOSS	$ (3,007)	$ (44,415)	$ (1,720)
BASIC LOSS PER COMMON SHARE (usd per share)	$ (0.14)	$ (2.16)	$ (0.09)
DILUTED LOSS PER COMMON SHARE (usd per share)	$ (0.14)	$ (2.16)	$ (0.09)

EQUITY INVESTMENTS - Summary of Proportionate Share of Vasconia's Net Income Translated from MXN to USD (Details) - Transaction 02 - Grupo Vasconia S.A.B. - $ / $	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Minimum
Schedule of Equity Method Investments [Line Items]
Average exchange rate (MXN to USD)	19.91	19.11	18.71
Maximum
Schedule of Equity Method Investments [Line Items]
Average exchange rate (MXN to USD)	23.31	19.42	19.81

CAPITAL STOCK - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions		12 Months Ended
	Mar. 09, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Apr. 30, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Quarterly dividend declared (in usd per share)		$ 0.17	$ 0.17	$ 0.17
Stock repurchase program, authorized amount					$ 10.0
Treasury stock repurchase (in shares)		0	0	0
Total intrinsic value of stock options exercised		$ 0.1	$ 0.3	$ 0.4
Unrecognized stock option compensation cost		$ 0.6
Weighted-average per share grant date fair value of stock options granted		$ 2.26	$ 2.77	$ 4.47
Preferred stock Series A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Preferred stock, shares authorized (in shares)		100	100
Preferred stock, issued (in shares)		0	0
Preferred stock, outstanding (in shares)		0	0
Preferred stock Series B
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Preferred stock, shares authorized (in shares)		2,000,000	2,000,000
Preferred stock, issued (in shares)		0	0
Preferred stock, outstanding (in shares)		0	0
Long Term Incentive Plan 2000
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant (in shares)		780,315
Share based compensation arrangement by share based payment award, number of shares available for grant increase (decrease)		850,000
Long Term Incentive Plan 2000 \| After Amendment
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant (in shares)		7,037,500
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average recognition period		1 year 3 months 18 days
Stock Option \| Minimum \| Long Term Incentive Plan 2000
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options expiration period		5 years
Stock Option \| Maximum \| Long Term Incentive Plan 2000
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options expiration period		10 years
Vesting period		4 years
Restricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average recognition period		1 year 3 months 18 days
Total fair value of restricted stock vested		$ 2.3
Number of shares vested		322,398	148,414	90,926
Restricted Shares \| Maximum \| Long Term Incentive Plan 2000
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		4 years
Performance-based awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		3 years
Weighted-average recognition period		1 year 6 months
Number of shares range percentage		150.00%
Total fair value of restricted stock vested		$ 0.4
Number of shares vested		62,215	66,761	58,888
Performance-based awards \| Long Term Incentive Plan 2000
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		3 years
Performance-based awards \| Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares vested	150,273
Dividend Declared \| Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Quarterly dividend declared (in usd per share)	$ 0.0425

DERIVATIVES - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Derivative [Line Items]
Gain (loss) reclassified into earnings		$ 200,000
Interest expense \| Interest rate swaps
Derivative [Line Items]
Gain (loss) reclassified into earnings	$ (1,200,000)	(300,000)
Cost of Sales \| Interest rate swaps
Derivative [Line Items]
Gain (loss) reclassified into earnings	200,000
Cost of Sales \| Foreign exchange contracts
Derivative [Line Items]
Gain (loss) reclassified into earnings	100,000,000	500,000
Derivatives designated as hedging instruments \| Cash Flow Hedging \| Interest rate swaps
Derivative [Line Items]
Notional amount	75,000,000.0
Derivatives designated as hedging instruments \| Cash Flow Hedging \| Interest rate swaps
Derivative [Line Items]
Gain (loss) reclassified into earnings	(1,000,000.0)
Derivatives not designated as hedging instruments \| Interest rate swaps
Derivative [Line Items]
Notional amount	25,000,000.0
Derivatives not designated as hedging instruments \| Foreign exchange contracts
Derivative [Line Items]
Notional amount		$ 7,300,000
Derivatives not designated as hedging instruments \| Interest expense \| Interest rate swaps
Derivative [Line Items]
Gain (loss) reclassified into earnings	$ 1,000,000.0

CAPITAL STOCK

12 Months Ended

Dec. 31, 2020

Equity [Abstract]

CAPITAL STOCK

Cash dividends

Dividends were declared in 2020 and 2019 as follows:

Dividend per share

Date declared

Date of record

Payment date

$0.0425

March 12, 2019

May 1, 2019

May 15, 2019

$0.0425

June 27, 2019

August 1, 2019

August 15, 2019

$0.0425

August 6, 2019

November 1, 2019

November 15, 2019

$0.0425

November 7, 2019

January 31, 2020

February 14, 2020

$0.0425

March 10, 2020

November 16, 2020

December 16, 2020

$0.0425

June 25, 2020

August 3, 2020

August 17, 2020

$0.0425

August 4, 2020

November 2, 2020

November 16, 2020

$0.0425

November 3, 2020

January 29, 2021

February 12, 2021

On March 9, 2021, the Board of Directors declared a quarterly dividend of $0.0425 per share payable on May 17, 2021 to shareholders of record on May 3, 2021.

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, 2020, 2019 and 2018.

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, 2020.

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 7,037,500 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 5 years to 10 years from the date of grant and vest over a range of up to 4 years from the date of grant. Shares of restricted stock that have been granted under the Plan vest over a range of up to 4 years from the date of grant. Performance-based awards that have been granted under the Plan vest after 3 years based upon the attainment of specified performance goals. On June 25, 2020, the shareholders of the Company approved an amendment and restatement of the Company’s Amended and Restated 2000 Long Term Incentive Plan (the “Plan”). The amendment and restatement of the Plan revised the terms and conditions of the Plan to, among other things, increase the shares available for grant under the Plan by 850,000 shares. As of December 31, 2020, there were 780,315 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, 2020, is as follows:


	Options	Weighted- average exercise price		Weighted- average remaining contractual life (years)	Aggregate intrinsic value (in thousands)
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
Grants	296,500	9.21
Exercises	(75,000)	4.28
Cancellations	(19,625)	12.94
Expirations	(242,375)	13.95
Options outstanding at December 31, 2019	1,508,325	13.43
Grants	37,500	6.36
Exercises	(2,500)	10.79
Cancellations	(14,313)	11.09
Expirations	(242,112)	13.27
Options outstanding at December 31, 2020	1,286,900	13.28		4.7	$	3,604
Options exercisable at December 31, 2020	986,607	$	14.27	3.7	$	2,035

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, 2020. 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, 2020 and the exercise price.

The total intrinsic value of those stock options that were exercised in the year ended December 31, 2020 was less than $0.1 million. The total intrinsic values of those stock options that were exercised in the years ended December 31, 2019 and 2018 were $0.3 million and $0.4 million, 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, 2020, before the effect of income taxes, was $0.6 million and is expected to be recognized over a weighted-average period of 1.3 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, 2020, 2019 and 2018, was $2.26, $2.77 and $4.47, respectively.

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


	2020		2019		2018
Historical volatility	49	%	35	%	34	%
Expected term (years)	6.3		6.0		6.0
Risk-free interest rate	0.45	%	1.82	%	2.72	%
Expected dividend yield	2.67	%	1.80	%	1.22	%

Restricted Stock

A summary of the Company’s restricted stock activity and related information for the three years ended December 31, 2020 is as follows:


	Restricted Shares		Weighted- average grant date fair value
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
Grants	439,747		9.25
Vested	(148,414)		14.54
Cancellations	(24,537)		13.97
Non-vested restricted shares, December 31, 2019	593,341		10.70
Grants	534,940		5.94
Vested	(322,398)		10.64
Cancellations	(10,296)		9.06
Non-vested restricted shares, December 31, 2020	795,587		$	7.54
Total unrecognized compensation expense remaining (in thousands)	$	3,403
Weighted-average years expected to be recognized over	1.3

The total fair value of restricted stock that vested during the year ended December 31, 2020 was $2.3 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, 2020 is as follows:


	Performance - based awards (1)		Weighted- average grant date fair value
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
Grants	158,525		9.19
Vested	(66,761)		15.69
Cancellations	(25,992)		15.44
Non-vested performance-based awards, December 31, 2019	405,059		12.43
Grants	106,275		6.36
Vested	(62,215)		18.45
Cancellations	(18,073)		15.49
Non-vested performance-based awards, December 31, 2020	431,046		$	9.94
Total unrecognized compensation expense remaining (in thousands)	$	1,144
Weighted-average years expected to be recognized over	1.5

(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, 2020 was $0.4 million.

On March 9, 2021, the Compensation Committee of the Board of Directors determined the performance goals set forth in the performance-based awards granted in 2018 were attained and 150,273 shares vested.

The Company recorded stock compensation expense as follows (in thousands):


	Year Ended December 31,
Stock Compensation Expense Components	2020		2019		2018
Equity based stock option expense	$	570	$	617	$	691
Restricted and performance-based stock awards expense	5,346		4,404		3,400
Stock compensation expense for equity based awards	$	5,916	$	5,021	$	4,091
Liability based stock option expense	35		20		44
Total Stock Compensation Expense	$	5,951	$	5,041	$	4,135

EQUITY INVESTMENTS - Summarized Statement of Income Information for Vasconia in USD and MXN (Details) $ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($)	Dec. 31, 2020 MXN ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2019 MXN ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2018 MXN ($)
Income Statement [Abstract]
Net sales	$ 769,169		$ 734,902		$ 704,542
Gross profit	273,998		255,191		255,757
(Loss) income from operations	24,970		(23,395)		18,579
Net loss	(3,007)		(44,415)		(1,720)
Grupo Vasconia S.A.B.
Income Statement [Abstract]
Net sales	156,391	$ 3,330,855	159,746	$ 3,074,398	179,547	$ 3,456,852
Gross profit	24,947	540,244	34,032	654,342	36,891	711,941
(Loss) income from operations	(102)	6,674	8,620	165,287	11,402	222,115
Net loss	$ 5,566	$ 108,678	$ 1,757	$ 28,892	$ 2,887	$ 57,590

- Definition

Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
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-Publisher FASB
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
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-Section S99
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-Subparagraph (SX 210.4-08(g)(1)(ii))
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.1,2)
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

+ Details

- Definition

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

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
SIGNIFICANT ACCOUNTING POLICIES (Policies)	Dec. 31, 2020
Accounting Policies [Abstract]
Basis of presentation	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 goodwill, 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	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.
Risk and uncertainties	Risk and uncertainties The Company’s current estimates contemplate current and expected future conditions, as applicable, it is reasonably possible that actual conditions could differ from expectations, which could materially affect the Company’s results of operations and financial position. In particular, a number of estimates have been and will continue to be affected by the ongoing COVID-19 pandemic. The severity, magnitude and duration, as well as the economic consequences of the COVID-19 pandemic, are uncertain, rapidly changing and difficult to predict.
Foreign currency	Foreign currencyForeign 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). The Company may enter into foreign exchange derivative contracts to hedge the volatility of exchange rates related to a portion of its international inventory purchases. Realized gains and losses from designated foreign currency derivative contracts are recognized in cost of sales as the hedged inventory purchases are sold. Unrealized gains and losses from foreign currency transactions on the fair value of foreign exchange contracts designated as hedges are recorded as a component of accumulated other comprehensive income (loss). Realized and unrealized gains and losses from non-designated foreign currency hedges are recognized in selling, general and administrative expenses in the consolidated statements of operations.
Revenue recognition and Cost of sales	Revenue recognition The Company sells products wholesale, to retailers and distributors, and retail, directly to the consumer. Wholesale sales and retail sales are primarily 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 2 — 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. In 2019, the Company implemented programs to improve the productivity of its inventory and simplify its U.S. business. In connection therewith, it initiated a stock keeping unit rationalization (“SKU Rationalization”) initiative to identify inventory to discontinue from active status, consistent with the objectives of these programs.
Distribution expenses	Distribution expenses Distribution expenses consist primarily of warehousing expenses and freight-out expenses. Freight-out expenses were $15.4 million, $15.5 million and $14.5 million for the years ended December 31, 2020, 2019 and 2018, respectively. Handling costs of products sold are included in cost of sales.
Advertising expenses	Advertising expensesAdvertising expenses are expensed as incurred and are included in selling, general and administrative expenses.
Accounts receivable	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, taking into consideration customer credit history and financial condition, industry and market segment information, credit reports, and economic trends and conditions such as the impact of the COVID-19 pandemic in 2020. 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 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 Property and equipment is stated at cost. Equipment under finance leases is recorded at the present value of the total minimum lease payments. Property and equipment, other than leasehold improvements and equipment under finance leases, are depreciated using the straight-line method over the estimated useful lives of the assets. Buildings are depreciated over 30 years, machinery and equipment and computer hardware and software are depreciated over periods ranging from 3 years to 10 years. Leasehold improvements are amortized over the term of the lease or the estimated useful lives of the improvements, whichever is shorter. Equipment under finance leases are amortized over the shorter of the lease term or the assets' useful lives. 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	Cash equivalentsThe Company considers all highly liquid instruments with a maturity of three months or less when purchased to be cash equivalents.
Concentration of credit risk	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.
Fair value measurements	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. GAAP 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 NOTE 7 — GOODWILL AND INTANGIBLE ASSETS and NOTE 9 — DERIVATIVES, respectively.
Fair value of financial instruments	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	Derivatives The Company accounts for derivative instruments in accordance with ASC Topic 815, Derivatives and Hedging. 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. Changes in fair value of derivatives that do not qualify as hedging instruments for accounting purposes are recorded in the consolidated statements of operations.
Goodwill, intangible assets and long-lived assets	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 the FASB's Accounting Standards Update No. (“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. See NOTE 7 — GOODWILL AND INTANGIBLE ASSETS for further discussion regarding goodwill impairment. 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. See NOTE 7 — GOODWILL AND INTANGIBLE ASSETS for further discussion regarding impairment of indefinite lived intangibles. 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	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	Share-based compensation The Company accounts for its share-based compensation arrangements in accordance with ASC Topic 718, Compensation: Stock-based 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, as determined by the Compensation Committee of the Board of Directors, by the end of the performance period. 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.
Leases	Leases The Company determines if an arrangement is a lease at the inception of a contract. Operating lease right-of-use (“ROU”) assets are included in operating lease right-of-use assets on the consolidated balance sheets. The current and long-term components of operating lease liabilities are included in the current portion of operating lease liability and operating lease liabilities, respectively, on the consolidated balance sheets. Finance leases are included in property and equipment, net, accrued expenses and other long-term liabilities. The Company's finance leases are not material to the Company’s consolidated balance sheets. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term. As most of the Company’s leases do not provide an implicit rate, the Company uses an incremental borrowing rate based on the information available at the commencement date in determining the present value of future payments. The operating lease ROU asset may also include any lease payments made, adjusted for any prepaid or accrued rent payments, lease incentives, and initial direct costs incurred. Certain leases may include options to extend or terminate the lease. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. For certain equipment leases, the Company applies a portfolio approach to effectively account for any ROU assets and lease liabilities. Leases with an initial term of twelve months or less are not recorded on the balance sheet. The Company has elected the practical expedient to account for each separate lease component of a contract and its associated non-lease components as a single lease component, thus causing all fixed payments to be capitalized.
Employee healthcare	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	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 communication date for severance. Charges associated with lease terminations, related to restructuring activities, are recognized at the effective date of the lease modification. During the years ended December 31, 2019 and 2018, the Company's U.S. segment incurred $0.7 million and $2.1 million, respectively, of restructuring expense related to the integration of Filament, of which $0.1 million was accrued at December 31, 2019. During the year ended December 31, 2020, the Company's International segment incurred $0.2 million of restructuring expenses related to severance associated with the strategic reorganization of the International segment’s product development and sales workforce. The strategic reorganization was the result of the Company's efforts for product development efficiencies and an international sales approach tailored to countries. During the years ended December 31, 2019, and 2018, the Company's International segment incurred $0.7 million and $0.2 million, respectively, of restructuring expense primarily related to the integration of its legal entities operating in Europe. The Company had no international restructuring accrual as of December 31, 2020 and December 31, 2019. The Company does not expect to incur any additional restructuring charges for these efforts.
Commitments and Contingencies	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	Adopted Accounting Pronouncements On April 10, 2020, the FASB staff issued a question-and-answer document to address stakeholder questions on the application of the lease accounting guidance for lease concessions related to the effects of the COVID-19 pandemic (the “Question-and-Answer Document”). The guidance allows concessions related to the timing of payments, where the total consideration has not changed, to not be accounted for as lease modifications. Instead, any such concessions can be accounted for as if no change was made to the contract or as variable lease payments. The Company adopted the guidance on April 1, 2020 and elected to account for COVID-19-related rent concessions that did not result in a substantial increase in the rights of the lessor or the obligations of the lessee not as lease modifications. See NOTE 4 — LEASES for additional information on the Company’s adoption of this guidance. 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 December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which simplifies the accounting for income taxes by removing certain exceptions to the general principles and simplifies the application of U.S. GAAP for other areas of Topic 740 by clarifying and amending the existing guidance. The guidance is effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2020. The impact of the adoption is not expected to have a material impact on the Company's consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on Financial Instruments. This guidance introduces a new model for recognizing credit losses on financial instruments based on an estimate of current expected credit losses. The ASU also provides updated guidance regarding the impairment of available-for-sale debt securities and includes additional disclosure requirements. The new guidance is effective for public business entities that meet the definition of a Smaller Reporting Company as defined by the Securities and Exchange Commission for interim and annual periods beginning after December 15, 2022. Early adoption is permitted. Management is currently evaluating the impact of this standard on its consolidated financial statements and related disclosures. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions to account for contract modifications, hedging relationships and other transactions that reference LIBOR or another reference rate that is expected to be discontinued as a result of reference rate reform. The guidance was effective upon issuance and may be applied prospectively to contract modifications and hedging relationships entered into or evaluated as of any date from March 12, 2020 but no later than December 31, 2022. The Company has not yet applied the guidance in this ASU and is currently evaluating the impact of this standard on its consolidated financial statements and related disclosures.

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
OPERATING ACTIVITIES
Net loss	$ (3,007)	$ (44,415)	$ (1,720)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	24,664	25,115	23,329
Goodwill and other impairments	20,100	42,990	2,205
Amortization of financing costs	1,774	1,748	1,543
Mark to market (loss) gain on interest rate derivatives	2,144	(402)	0
Deferred rent	0	0	57
Non-cash lease expense	2,379	1,047	0
Provision for doubtful accounts, net of (recoveries)	3,291	(163)	338
Deferred income taxes	(1,861)	(1,073)	2,086
Stock compensation expense	5,951	5,041	4,135
Undistributed equity (earnings), net of taxes	(1,258)	(343)	(545)
Loss on early retirement of debt	0	0	66
SKU Rationalization	0	8,500	0
Contingent consideration fair value adjustment	0	0	(1,774)
Changes in operating assets and liabilities (excluding the effects of business acquisitions)
Accounts receivable	(43,760)	(2,096)	7,682
Inventory	(28,979)	(7,455)	(13,819)
Prepaid expenses, other current assets and other assets	1,088	(3,855)	540
Accounts payable, accrued expenses and other liabilities	55,721	5,108	(3,153)
Income taxes receivable	1,577	(135)	(1,442)
Income taxes payable	4,989	260	(353)
NET CASH PROVIDED BY OPERATING ACTIVITIES	44,813	29,872	19,175
INVESTING ACTIVITIES
Purchases of property and equipment	(2,082)	(9,169)	(7,902)
Filament acquisition, net of cash acquired	0	0	(216,527)
Net proceeds from sale of property	0	0	249
NET CASH USED IN INVESTING ACTIVITIES	(2,082)	(9,169)	(224,180)
FINANCING ACTIVITIES
Proceeds from short term loan	0	0	216
Payments from short term loan	0	0	(278)
Payment of financing costs	0	0	(11,171)
Payment of equity issuance costs	0	0	(936)
Cash dividends paid	(3,651)	(3,571)	(3,273)
Payments for finance lease obligations	(152)	(92)	(77)
Proceeds from the exercise of stock options	27	132	286
Payments of tax withholding for stock based compensation	(658)	(399)	(561)
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES	(18,236)	(16,916)	205,288
Effect of foreign exchange on cash	98	(64)	(236)
INCREASE IN CASH AND CASH EQUIVALENTS	24,593	3,723	47
Cash and cash equivalents at beginning of year	11,370	7,647	7,600
CASH AND CASH EQUIVALENTS AT END OF YEAR	35,963	11,370	7,647
Revolving Credit Facility
FINANCING ACTIVITIES
Proceeds from long term lines of credit	129,244	345,494	268,912
Repayments of long term lines of credit	(135,463)	(355,730)	(320,767)
Term Loan
FINANCING ACTIVITIES
Proceeds from long term lines of credit	0	0	275,000
Repayments of long term lines of credit	$ (7,583)	$ (2,750)	$ (2,063)

REVENUE

12 Months Ended

Dec. 31, 2020

Revenue from Contract with Customer [Abstract]

REVENUE

REVENUEThe 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 Free on Board ("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 $3.9 million, $3.6 million and $3.5 million for the years ended December 31, 2020, 2019 and 2018, 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. As a result of the COVID-19 pandemic, beginning in the first quarter of 2020 and lasting through the fourth quarter of 2020, many of the Company's customers that operate retail locations temporarily closed their stores voluntarily or as mandated by government stay at home orders. In response to these closings, the affected customers have requested extended payment terms. The Company has been working with these customers to address their temporary extended payment requests.

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, 2020, 2019 and 2018 (in thousands).


	Year Ended December 31,
	2020		2019		2018
			(in thousands)
U.S. segment
Kitchenware	$	426,883	$	354,331	$	330,110
Tableware	141,113		156,061		168,781
Home Solutions	115,543		133,779		110,223
Total U.S. segment	683,539		644,171		609,114
International segment
Kitchenware	69,322		62,845		59,657
Tableware	16,308		27,886		35,771
Total International segment	85,630		90,731		95,428
Total net sales	$	769,169	$	734,902	$	704,542


	Year ended December 31,
	2020		2019		2018
			(in thousands)
United States	$	658,285	$	612,762	$	575,158
United Kingdom	54,364		62,991		65,852
Rest of World	56,520		59,149		63,532
Total net sales	$	769,169	$	734,902	$	704,542

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

EQUITY INVESTMENTS - Schedule of Amounts Due to and Due from Vasconia (Details) - Grupo Vasconia S.A.B. - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Prepaid expenses and other current assets
Schedule of Equity Method Investments [Line Items]
Amounts due from Vasconia	$ 55	$ 63
Accounts Payable and Accrued Liabilities
Schedule of Equity Method Investments [Line Items]
Amounts due to Vasconia	$ (91)	$ (77)

COMMITMENTS AND CONTINGENCIES - Future Minimum Royalties Payable (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2021	$ 10,045
2022	10,091
2023	709
2024	582
2025	101
Thereafter	5,243
Total	$ 26,771

REVENUE - Summary of Company's Revenue Disaggregated by Geographic Region and Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Net sales	$ 769,169	$ 734,902	$ 704,542
United States
Disaggregation of Revenue [Line Items]
Net sales	658,285	612,762	575,158
United Kingdom
Disaggregation of Revenue [Line Items]
Net sales	54,364	62,991	65,852
Rest of World
Disaggregation of Revenue [Line Items]
Net sales	56,520	59,149	63,532
U.S.
Disaggregation of Revenue [Line Items]
Net sales	683,539	644,171	609,114
U.S. \| Kitchenware
Disaggregation of Revenue [Line Items]
Net sales	426,883	354,331	330,110
U.S. \| Tableware
Disaggregation of Revenue [Line Items]
Net sales	141,113	156,061	168,781
U.S. \| Home Solutions
Disaggregation of Revenue [Line Items]
Net sales	115,543	133,779	110,223
International segment
Disaggregation of Revenue [Line Items]
Net sales	85,630	90,731	95,428
International segment \| Kitchenware
Disaggregation of Revenue [Line Items]
Net sales	69,322	62,845	59,657
International segment \| Tableware
Disaggregation of Revenue [Line Items]
Net sales	$ 16,308	$ 27,886	$ 35,771

REVENUE (Tables)

12 Months Ended

Dec. 31, 2020

Revenue from Contract with Customer [Abstract]

Summary of Company's Revenue Disaggregated by Geographic Region and Revenue

The following tables present the Company’s net sales disaggregated by segment, product category and geographic region for the years ended December 31, 2020, 2019 and 2018 (in thousands).


	Year Ended December 31,
	2020		2019		2018
			(in thousands)
U.S. segment
Kitchenware	$	426,883	$	354,331	$	330,110
Tableware	141,113		156,061		168,781
Home Solutions	115,543		133,779		110,223
Total U.S. segment	683,539		644,171		609,114
International segment
Kitchenware	69,322		62,845		59,657
Tableware	16,308		27,886		35,771
Total International segment	85,630		90,731		95,428
Total net sales	$	769,169	$	734,902	$	704,542


	Year ended December 31,
	2020		2019		2018
			(in thousands)
United States	$	658,285	$	612,762	$	575,158
United Kingdom	54,364		62,991		65,852
Rest of World	56,520		59,149		63,532
Total net sales	$	769,169	$	734,902	$	704,542

EQUITY INVESTMENTS - Additional Information (Details)		12 Months Ended
EQUITY INVESTMENTS - Additional Information (Details)	May 05, 2020	Dec. 31, 2020 USD ($) $ / $	Dec. 31, 2019 USD ($) $ / $	Dec. 31, 2018 USD ($)	Feb. 29, 2012 USD ($)
Schedule of Equity Method Investments [Line Items]
Equity in earnings (losses), net of taxes		$ 1,310,000	$ 467,000	$ 660,000
Ownership interest prior to disposal	100.00%
Foreign currency gain (loss)		$ 500,000	$ 100,000	(500,000)
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 \| $ / $		19.88	18.91
Increase (Decrease) in equity method investment		$ (2,700,000)	$ (1,600,000)
Cash dividend received		52,000	124,000	115,000
Equity in earnings (losses), net of taxes		1,500,000	500,000	900,000
Equity in earnings, deferred tax benefit				100,000
Fair value of investment		32,800,000
Carrying value of investment		20,000,000.0
GS Internacional S/A
Schedule of Equity Method Investments [Line Items]
Foreign currency gain (loss)		(200,000)
GS Internacional S/A \| Lifetime Brands Do Brasil Participacoes Ltda.
Schedule of Equity Method Investments [Line Items]
Percentage of ownership in equity method investment	40.00%
Grand Venture
Schedule of Equity Method Investments [Line Items]
Percentage of ownership in equity method investment					0.50%
Carrying value of investment		$ 0	$ 0
Payment for equity method investment					$ 500,000
Asset impairment charges				$ 200,000

Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2020

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS

LIFETIME BRANDS, INC.

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS

(in thousands)


COL. A	COL. B		COL. C				COL. D			COL. E

Description	Balance at beginning of period			Charged to costs and expenses			Deductions			Balance at end of period
Year ended Year ended December 31, 2020
Deducted from asset accounts:
Allowance for doubtful accounts	$	1,333		$	4,512		$	(1,221)	(a)	$	4,624
Reserve for sales returns and allowances	8,348			11,280		(c)	(7,239)		(b)	12,389
	$	9,681		$	15,792		$	(8,460)		$	17,013
Year ended Year ended December 31, 2019
Deducted from asset accounts:
Allowance for doubtful accounts	$	1,496		$	536		$	(699)	(a)	$	1,333
Reserve for sales returns and allowances	6,359			6,390		(c)	(4,401)		(b)	8,348
	$	7,855		$	6,926		$	(5,100)		$	9,681
Year ended Year ended December 31, 2018
Deducted from asset accounts:
Allowance for doubtful accounts	$	1,158		$	786		$	(448)	(a)	$	1,496
Reserve for sales returns and allowances	5,032			4,717		(c)	(3,390)		(b)	6,359
	$	6,190		$	5,503		$	(3,838)		$	7,855

(a)Uncollectible accounts written off, net of recoveries.

(b)Allowances granted.

(c)Charged to net sales.

OTHER - Components of Inventory (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Finished goods	$ 194,209	$ 165,950
Work in process	45	61
Raw materials	8,910	7,416
Total	$ 203,164	$ 173,427

Consolidated Statements of Comprehensive Loss (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Fair value adjustment, tax	$ (803)	$ 347	$ 38
Net (loss) income arising from retirement benefit obligations, tax	(259)	(251)	93
Amortization of loss included in net income, tax	$ 52	$ 34	$ 23

COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Dec. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

Future Minimum Royalties Payable

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


Year ending December 31,
2021	$	10,045
2022	10,091
2023	709
2024	582
2025	101
Thereafter	5,243
Total	$	26,771

EQUITY INVESTMENTS (Tables)

12 Months Ended

Dec. 31, 2020

Equity Method Investments and Joint Ventures [Abstract]

Equity Method Investments Summary of Exchange Rate Translation

The Company's proportionate share of Vasconia's net income (loss) has been translated from MXN to USD using the following exchange rates:


	Year Ended December 31,
	2020	2019	2018
Average exchange rate (MXN to USD)	19.91 - 23.31	19.11 - 19.42	18.71 - 19.81

Equity Method Investments Schedule of Amounts Due to and Due from Related Parties Current

The amounts due to and due from Vasconia as of December 31, 2020 and 2019 are as follows (in thousands):


Vasconia due to and due from balances	Balance Sheet Location	December 31, 2020		December 31, 2019
Amounts due from Vasconia	Prepaid expenses and other current assets	$	55	$	63
Amounts due to Vasconia	Accrued expenses and Accounts payable	$	(91)	(77)

Summarized Income Statement Information for Vasconia in USD and MXN


	Year Ended December 31,
	2020				2019				2018
	(in thousands)
	USD		MXN		USD		MXN		USD		MXN
Income Statement
Net sales	$	156,391	$	3,330,855	$	159,746	$	3,074,398	$	179,547	$	3,456,852
Gross profit	24,947		540,244		34,032		654,342		36,891		711,941
(Loss) income from operations	(102)		6,674		8,620		165,287		11,402		222,115
Net income	5,566		108,678		1,757		28,892		2,887		57,590

Summarized Balance Sheet Information for Vasconia in USD and MXN


	December 31,
	2020				2019
	(in thousands)
	USD		MXN		USD		MXN
Balance Sheet
Current assets	$	94,820	$	1,885,323	$	94,263	$	1,782,170
Non-current assets	$	100,140	$	1,991,116	110,908		2,096,880
Current liabilities	$	69,241	$	1,376,742	74,095		1,400,883
Non-current liabilities	$	48,419	$	962,723	50,037		946,014

INCOME TAXES - Significant Components of Net Deferred Income Tax Asset (Liability) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred income tax assets:
Operating lease liabilities	$ 27,502	$ 29,126
Stock options	2,178	2,660
Inventory	2,438	2,351
Operating loss carryforwards	9,894	8,041
Accounts receivable allowances	1,461	777
Accrued compensation	1,839	846
Deferred compensation	1,310	1,123
Other	3,061	911
Total deferred income tax assets	49,683	45,835
Deferred income tax liabilities:
Operating lease right-of-use assets	(23,127)	(25,084)
Fixed assets	(1,920)	(2,431)
Intangibles	(28,447)	(27,782)
Total deferred income tax liabilities	(53,494)	(55,297)
Net deferred income tax liability	(3,811)	(9,462)
Valuation allowance	(6,903)	(4,223)
Net deferred income tax liability	$ (10,714)	$ (13,685)

OTHER (Tables)

12 Months Ended

Dec. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Components of Inventory

The components of inventory are as follows:


	December 31,
	2020		2019
	(in thousands)
Finished goods	$	194,209	$	165,950
Work in process	45		61
Raw materials	8,910		7,416
Total	$	203,164	$	173,427

Property and Equipment

Property and equipment (including finance leases) consist of:


	December 31,
	2020		2019
	(in thousands)
Machinery, furniture and equipment	$	74,494	$	73,634
Leasehold improvements	38,467		38,293
Computer hardware and software	36,997		35,458
Building and improvements	791		780
Construction in progress	87		337
Land	100		100
Total	150,936		148,602
Less: accumulated depreciation and amortization	(127,816)		(120,434)
Total	$	23,120	$	28,168

Long term liabilities

Long term liabilities consist of:


	December 31,
	2020		2019
	(in thousands)
Retirement benefit obligations	$	7,534	$	6,838
Other non-income tax liabilities	2,824		2,705
Derivative financial instruments	2,776		—
Unearned revenues	1,444		1,728
Deferred payroll non-income tax liabilities	1,261		—
Royalty obligation	475		878


Other long term obligations	169		65


Total	$	16,483	$	12,214

Accrued Expenses

Accrued expenses consist of:


	December 31,
	2020		2019
	(in thousands)
Customer allowances and rebates	$	30,913	$	18,834
Compensation and benefits	19,016		10,542
Interest	749		334
Vendor invoices	6,536		3,428
Royalties	3,007		2,391
Commissions	1,380		894
Freight	6,669		3,263
Professional fees	2,060		1,941
Foreign exchange forward contracts	—		180
Restructuring	—		59
Other	9,720		10,194
Total	$	80,050	$	52,060

Supplemental Cash Flow Information


	Year Ended December 31,
	2020		2019		2018
			(in thousands)

Cash paid for interest	$	15,476	$	18,859	$	16,319
Cash paid for taxes, net of refunds	5,161		2,057		2,599
Non-cash investing activities:
Translation adjustment	$	(2,062)	$	(292)	$	(5,906)

Components of Accumulated Other Comprehensive Loss, Net

Components of accumulated other comprehensive loss, net


	Year Ended December 31,
	2020		2019		2018
			(in thousands)
Accumulated translation adjustment:
Balance at beginning of year	$	(34,019)	$	(33,727)	$	(27,821)
Translation adjustment during period	(2,062)		(292)		(5,906)
Amount reclassified from accumulated other comprehensive loss: (1)
Currency translation adjustment	235		—		—
Balance at end of year	$	(35,846)	$	(34,019)	$	(33,727)
Accumulated deferred gains (losses) on cash flow hedges:
Balance at beginning of year	$	1,164	$	161	$	14
Derivative fair value adjustment, net of tax	(3,273)		1,212		161
Amounts reclassified from accumulated other comprehensive loss: (2)
Settlement of cash flow hedges	984		(209)		(14)
Balance at end of year	$	(1,125)	$	1,164	$	161
Accumulated effect of retirement benefit obligations:
Balance at beginning of year	$	(1,600)	$	(1,050)	$	(1,518)
Net (loss) income arising from retirement benefit obligations, net of tax	(680)		(601)		373
Amount reclassified from accumulated other comprehensive loss:(3)
Amortization of loss, net of tax	79		51		95
Balance at end of year	$	(2,201)	$	(1,600)	$	(1,050)
Total accumulated other comprehensive loss at end of period	$	(39,172)	$	(34,455)	$	(34,616)

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

(2)Amounts reclassified are recorded in interest expense and cost of goods sold on the consolidated statements of operations.

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

CAPITAL STOCK - Summary of Performance-based Award Activity (Details) - Performance-based awards - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restricted Shares
Beginning balance (in shares)	405,059	339,287	228,892
Grants (in shares)	106,275	158,525	182,300
Vested (in shares)	(62,215)	(66,761)	(58,888)
Cancellations (in shares)	(18,073)	(25,992)	(13,017)
Ending balance (in shares)	431,046	405,059	339,287
Total unrecognized compensation expense remaining (in thousands)	$ 1,144
Weighted-average grant date fair value
Beginning balance (usd per share)	$ 12.43	$ 14.82	$ 16.49
Grants (usd per share)	6.36	9.19	12.81
Vested (usd per share)	18.45	15.69	14.84
Cancellations (usd per share)	15.49	15.44	15.95
Ending balance (usd per share)	$ 9.94	$ 12.43	$ 14.82
Weighted-average years expected to be recognized over	1 year 6 months

RETIREMENT PLANS - Future Retirement Benefit Payments (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Postemployment Benefits [Abstract]
2021	$ 431
2022	474
2023	455
2024	435
2025	417
2026 through 2030	$ 1,845

GOODWILL AND INTANGIBLE ASSETS - Weighted Average Amortization Period for Finite Lived Intangible Assets (Details)	12 Months Ended
	Dec. 31, 2020
Trade Names
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, weighted-average amortization periods	16 years
Licenses
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

OTHER - Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property plant and equipment gross	$ 150,936	$ 148,602
Less: accumulated depreciation and amortization	(127,816)	(120,434)
Total	23,120	28,168
Machinery, furniture and equipment
Property, Plant and Equipment [Line Items]
Property plant and equipment gross	74,494	73,634
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property plant and equipment gross	38,467	38,293
Computer hardware and software
Property, Plant and Equipment [Line Items]
Property plant and equipment gross	36,997	35,458
Building and improvements
Property, Plant and Equipment [Line Items]
Property plant and equipment gross	791	780
Construction in progress
Property, Plant and Equipment [Line Items]
Property plant and equipment gross	87	337
Land
Property, Plant and Equipment [Line Items]
Property plant and equipment gross	$ 100	$ 100

CAPITAL STOCK (Tables)

12 Months Ended

Dec. 31, 2020

Equity [Abstract]

Cash Dividends Declared

Dividends were declared in 2020 and 2019 as follows:

Dividend per share

Date declared

Date of record

Payment date

$0.0425

March 12, 2019

May 1, 2019

May 15, 2019

$0.0425

June 27, 2019

August 1, 2019

August 15, 2019

$0.0425

August 6, 2019

November 1, 2019

November 15, 2019

$0.0425

November 7, 2019

January 31, 2020

February 14, 2020

$0.0425

March 10, 2020

November 16, 2020

December 16, 2020

$0.0425

June 25, 2020

August 3, 2020

August 17, 2020

$0.0425

August 4, 2020

November 2, 2020

November 16, 2020

$0.0425

November 3, 2020

January 29, 2021

February 12, 2021

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, 2020, is as follows:


	Options	Weighted- average exercise price		Weighted- average remaining contractual life (years)	Aggregate intrinsic value (in thousands)
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
Grants	296,500	9.21
Exercises	(75,000)	4.28
Cancellations	(19,625)	12.94
Expirations	(242,375)	13.95
Options outstanding at December 31, 2019	1,508,325	13.43
Grants	37,500	6.36
Exercises	(2,500)	10.79
Cancellations	(14,313)	11.09
Expirations	(242,112)	13.27
Options outstanding at December 31, 2020	1,286,900	13.28		4.7	$	3,604
Options exercisable at December 31, 2020	986,607	$	14.27	3.7	$	2,035

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:


	2020		2019		2018
Historical volatility	49	%	35	%	34	%
Expected term (years)	6.3		6.0		6.0
Risk-free interest rate	0.45	%	1.82	%	2.72	%
Expected dividend yield	2.67	%	1.80	%	1.22	%

Summary of Restricted Stock Activity

A summary of the Company’s restricted stock activity and related information for the three years ended December 31, 2020 is as follows:


	Restricted Shares		Weighted- average grant date fair value
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
Grants	439,747		9.25
Vested	(148,414)		14.54
Cancellations	(24,537)		13.97
Non-vested restricted shares, December 31, 2019	593,341		10.70
Grants	534,940		5.94
Vested	(322,398)		10.64
Cancellations	(10,296)		9.06
Non-vested restricted shares, December 31, 2020	795,587		$	7.54
Total unrecognized compensation expense remaining (in thousands)	$	3,403
Weighted-average years expected to be recognized over	1.3

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, 2020 is as follows:


	Performance - based awards (1)		Weighted- average grant date fair value
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
Grants	158,525		9.19
Vested	(66,761)		15.69
Cancellations	(25,992)		15.44
Non-vested performance-based awards, December 31, 2019	405,059		12.43
Grants	106,275		6.36
Vested	(62,215)		18.45
Cancellations	(18,073)		15.49
Non-vested performance-based awards, December 31, 2020	431,046		$	9.94
Total unrecognized compensation expense remaining (in thousands)	$	1,144
Weighted-average years expected to be recognized over	1.5

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

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

The Company recorded stock compensation expense as follows (in thousands):


	Year Ended December 31,
Stock Compensation Expense Components	2020		2019		2018
Equity based stock option expense	$	570	$	617	$	691
Restricted and performance-based stock awards expense	5,346		4,404		3,400
Stock compensation expense for equity based awards	$	5,916	$	5,021	$	4,091
Liability based stock option expense	35		20		44
Total Stock Compensation Expense	$	5,951	$	5,041	$	4,135

LEASES - Components of Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Fixed lease expense	$ 18,181	$ 18,898
Variable lease expense	3,798	4,571
Total	$ 21,979	$ 23,469

EQUITY INVESTMENTS - Summarized Balance Sheet Information for Vasconia in USD and MXN (Details) $ in Thousands, $ in Thousands	Dec. 31, 2020 USD ($)	Dec. 31, 2020 MXN ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2019 MXN ($)
Balance Sheet
Current assets	$ 421,293		$ 329,153
Current liabilities	180,070		107,307
Grupo Vasconia S.A.B.
Balance Sheet
Current assets	94,820	$ 1,885,323	94,263	$ 1,782,170
Non-current assets	100,140	1,991,116	110,908	2,096,880
Current liabilities	69,241	1,376,742	74,095	1,400,883
Non-current liabilities	$ 48,419	$ 962,723	$ 50,037	$ 946,014

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References + Details

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer.

+ References

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- Definition

Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.

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- Definition

Amount of obligation due after one year or beyond the normal operating cycle, if longer.

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+ Details

SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
SIGNIFICANT ACCOUNTING POLICIES	Dec. 31, 2020
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	SIGNIFICANT ACCOUNTING POLICIES Organization and business The Company designs, sources and sells branded kitchenware, tableware and other products used in the home and markets its products under a number of widely-recognized brand names and trademarks, which are either owned or licensed by the Company or through retailers’ private labels and their licensed brands. The Company’s products, which are targeted primarily towards consumers purchasing moderately priced kitchenware, tableware and housewares, are sold through virtually every major level of trade. The Company generally markets several lines within each of its product categories under more than one brand. The Company sells its products directly to retailers (who may resell the Company’s products through their websites) and, to a lesser extent, to distributors. The Company also sells a limited selection of its products directly to consumers through its own 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 goodwill, 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. Risk and uncertainties The Company’s current estimates contemplate current and expected future conditions, as applicable, it is reasonably possible that actual conditions could differ from expectations, which could materially affect the Company’s results of operations and financial position. In particular, a number of estimates have been and will continue to be affected by the ongoing COVID-19 pandemic. The severity, magnitude and duration, as well as the economic consequences of the COVID-19 pandemic, are uncertain, rapidly changing and difficult to predict. 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). The Company may enter into foreign exchange derivative contracts to hedge the volatility of exchange rates related to a portion of its international inventory purchases. Realized gains and losses from designated foreign currency derivative contracts are recognized in cost of sales as the hedged inventory purchases are sold. Unrealized gains and losses from foreign currency transactions on the fair value of foreign exchange contracts designated as hedges are recorded as a component of accumulated other comprehensive income (loss). Realized and unrealized gains and losses from non-designated foreign currency hedges are recognized in selling, general and administrative expenses in the consolidated statements of operations. Foreign currency gains and losses included within selling, general and administrative expenses were a $0.5 million gain in 2020, a $0.1 million gain in 2019, and a $0.5 million loss in 2018. Revenue recognition The Company sells products wholesale, to retailers and distributors, and retail, directly to the consumer. Wholesale sales and retail sales are primarily 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 2 — 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. In 2019, the Company implemented programs to improve the productivity of its inventory and simplify its U.S. business. In connection therewith, it initiated a stock keeping unit rationalization (“SKU Rationalization”) initiative to identify inventory to discontinue from active status, consistent with the objectives of these programs. During the year ended December 31, 2019, the Company recorded an $8.5 million charge to cost of sales associated with the SKU Rationalization initiative. The inventory charge, which was recognized in cost of sales during the three months ended June 30, 2019, represented approximately 8% of the Company's consolidated inventory at June 30, 2019. Prior to January 1, 2019, depreciation associated with certain tooling used to produce products was recorded in selling, general and administrative expenses in the consolidated statement of operations. The amount recorded in cost of sales for the year ended December 31, 2020 and 2019 was $1.0 million and $1.4 million, respectively. The impact on the comparative periods presented is immaterial and therefore, the comparative periods have not been adjusted to reflect this change in accounting policy. Distribution expenses Distribution expenses consist primarily of warehousing expenses and freight-out expenses. Freight-out expenses were $15.4 million, $15.5 million and $14.5 million for the years ended December 31, 2020, 2019 and 2018, 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 $3.4 million, $4.0 million and $4.4 million for the years ended December 31, 2020, 2019 and 2018, 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, taking into consideration customer credit history and financial condition, industry and market segment information, credit reports, and economic trends and conditions such as the impact of the COVID-19 pandemic in 2020. 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. Equipment under finance leases is recorded at the present value of the total minimum lease payments. Property and equipment, other than leasehold improvements and equipment under finance leases, are depreciated using the straight-line method over the estimated useful lives of the assets. Buildings are depreciated over 30 years, machinery and equipment and computer hardware and software are depreciated over periods ranging from 3 years to 10 years. Leasehold improvements are amortized over the term of the lease or the estimated useful lives of the improvements, whichever is shorter. Equipment under finance leases are amortized over the shorter of the lease term or the assets' useful lives. 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, 2020, 2019 and 2018, Wal-Mart Stores, Inc., including Sam’s Club and, in the U.K., Asda Superstore, (“Walmart”), accounted for 20%, 16% and 14% of consolidated net sales, respectively. During the years ended December 31, 2020 and 2019, sales to Costco Wholesale Corporation (“Costco”) accounted for 11% of consolidated net sales. During the year ended December 31, 2020, Amazon.com Inc., (“Amazon”), accounted for 10% of consolidated net sales. Sales to Walmart, Costco and Amazon are included in the Company's U.S. and International segments. 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. GAAP 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 NOTE 7 — GOODWILL AND INTANGIBLE ASSETS and NOTE 9 — 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 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. Changes in fair value of derivatives that do not qualify as hedging instruments for accounting purposes are recorded in the consolidated statements of 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 the FASB's Accounting Standards Update No. (“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. See NOTE 7 — GOODWILL AND INTANGIBLE ASSETS for further discussion regarding goodwill impairment. 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. See NOTE 7 — GOODWILL AND INTANGIBLE ASSETS for further discussion regarding impairment of indefinite lived intangibles. 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, Compensation: Stock-based 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, as determined by the Compensation Committee of the Board of Directors, by the end of the performance period. 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. Leases The Company determines if an arrangement is a lease at the inception of a contract. Operating lease right-of-use (“ROU”) assets are included in operating lease right-of-use assets on the consolidated balance sheets. The current and long-term components of operating lease liabilities are included in the current portion of operating lease liability and operating lease liabilities, respectively, on the consolidated balance sheets. Finance leases are included in property and equipment, net, accrued expenses and other long-term liabilities. The Company's finance leases are not material to the Company’s consolidated balance sheets. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term. As most of the Company’s leases do not provide an implicit rate, the Company uses an incremental borrowing rate based on the information available at the commencement date in determining the present value of future payments. The operating lease ROU asset may also include any lease payments made, adjusted for any prepaid or accrued rent payments, lease incentives, and initial direct costs incurred. Certain leases may include options to extend or terminate the lease. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. For certain equipment leases, the Company applies a portfolio approach to effectively account for any ROU assets and lease liabilities. Leases with an initial term of twelve months or less are not recorded on the balance sheet. The Company has elected the practical expedient to account for each separate lease component of a contract and its associated non-lease components as a single lease component, thus causing all fixed payments to be capitalized. 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 communication date for severance. Charges associated with lease terminations, related to restructuring activities, are recognized at the effective date of the lease modification. During the years ended December 31, 2019 and 2018, the Company's U.S. segment incurred $0.7 million and $2.1 million, respectively, of restructuring expense related to the integration of Filament, of which $0.1 million was accrued at December 31, 2019. During the year ended December 31, 2020, the Company's International segment incurred $0.2 million of restructuring expenses related to severance associated with the strategic reorganization of the International segment’s product development and sales workforce. The strategic reorganization was the result of the Company's efforts for product development efficiencies and an international sales approach tailored to countries. During the years ended December 31, 2019, and 2018, the Company's International segment incurred $0.7 million and $0.2 million, respectively, of restructuring expense primarily related to the integration of its legal entities operating in Europe. The Company had no international restructuring accrual as of December 31, 2020 and December 31, 2019. The Company does not expect to incur any additional restructuring charges for these efforts. 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 On April 10, 2020, the FASB staff issued a question-and-answer document to address stakeholder questions on the application of the lease accounting guidance for lease concessions related to the effects of the COVID-19 pandemic (the “Question-and-Answer Document”). The guidance allows concessions related to the timing of payments, where the total consideration has not changed, to not be accounted for as lease modifications. Instead, any such concessions can be accounted for as if no change was made to the contract or as variable lease payments. The Company adopted the guidance on April 1, 2020 and elected to account for COVID-19-related rent concessions that did not result in a substantial increase in the rights of the lessor or the obligations of the lessee not as lease modifications. See NOTE 4 — LEASES for additional information on the Company’s adoption of this guidance. 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 December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which simplifies the accounting for income taxes by removing certain exceptions to the general principles and simplifies the application of U.S. GAAP for other areas of Topic 740 by clarifying and amending the existing guidance. The guidance is effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2020. The impact of the adoption is not expected to have a material impact on the Company's consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on Financial Instruments. This guidance introduces a new model for recognizing credit losses on financial instruments based on an estimate of current expected credit losses. The ASU also provides updated guidance regarding the impairment of available-for-sale debt securities and includes additional disclosure requirements. The new guidance is effective for public business entities that meet the definition of a Smaller Reporting Company as defined by the Securities and Exchange Commission for interim and annual periods beginning after December 15, 2022. Early adoption is permitted. Management is currently evaluating the impact of this standard on its consolidated financial statements and related disclosures. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions to account for contract modifications, hedging relationships and other transactions that reference LIBOR or another reference rate that is expected to be discontinued as a result of reference rate reform. The guidance was effective upon issuance and may be applied prospectively to contract modifications and hedging relationships entered into or evaluated as of any date from March 12, 2020 but no later than December 31, 2022. The Company has not yet applied the guidance in this ASU and is currently evaluating the impact of this standard on its consolidated financial statements and related disclosures.

LOSS PER COMMON SHARE (Tables)

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Calculations of Basic and Diluted Income per Common Share

The calculations of basic and diluted loss per common share for the years ended December 31, 2020, 2019 and 2018, are as follows:


	2020		2019		2018
	(in thousands - except per share amounts)
Net loss – Basic and Diluted	$	(3,007)	$	(44,415)	$	(1,720)
Weighted-average shares outstanding – Basic	20,860		20,597		19,452
Effect of dilutive securities:
Stock options and other stock awards	—		—		—
Weighted-average shares outstanding – Diluted	20,860		20,597		19,452
Basic loss per common share	$	(0.14)	$	(2.16)	$	(0.09)
Diluted loss per common share	$	(0.14)	$	(2.16)	$	(0.09)
Antidilutive shares (1)	2,167		2,120		1,869

(1) Stock options and other stock awards that have been excluded from the denominator as their inclusion would have been anti-dilutive.

DEBT - Total Availability Under ABL Agreement (Details) - ABL Credit Agreement - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Maximum aggregate principal allowed	$ 150,000,000	$ 150,000,000
Outstanding borrowings under the ABL Agreement	(27,302,000)	(32,822,000)
Standby letters of credit	(2,698,000)	(2,288,000)
Total availability under the ABL Agreement	$ 120,000,000	$ 114,890,000

- Definition

The carrying value as of the balance sheet date of the current portion of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

GOODWILL AND INTANGIBLE ASSETS - Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Intangible Assets
Intangible Assets, Beginning Balance	$ 231,100	$ 247,157	$ 72,707
Foreign currency translation adjustment	607	786	(1,524)
Amortization	(16,953)	(16,843)	(15,323)
Indefinite-lived intangible assets, Impairment	(1,000)
Intangible Assets, Ending Balance	213,754	231,100	247,157
Goodwill
Beginning balance	49,371	91,690	15,772
Acquisition of goodwill			78,795
Purchase price adjustment		972
Foreign currency translation adjustment	0	(301)	(672)
Impairment	(19,100)	(42,990)	(2,205)
Ending balance	30,271	49,371	91,690
Goodwill and Intangible Assets
Goodwill and intangible assets, Beginning Balance	280,471	338,847	88,479
Acquisition of goodwill			78,795
Foreign currency translation adjustment	607	485	(2,196)
Amortization	(16,953)	(16,843)	(15,323)
Goodwill and Intangible Assets, Ending Balance	$ 244,025	$ 280,471	338,847
Trade Names
Intangible Assets
Acquisition of intangible assets			61,500
Goodwill and Intangible Assets
Acquisition of intangible assets			61,500
Customer relationships
Intangible Assets
Acquisition of intangible assets			124,430
Goodwill and Intangible Assets
Acquisition of intangible assets			124,430
Other
Intangible Assets
Acquisition of intangible assets			5,367
Goodwill and Intangible Assets
Acquisition of intangible assets			$ 5,367

ACQUISITIONS (Tables)

12 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

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 final estimate of the fair value of the assets acquired and liabilities assumed, as follows (in thousands):



Accounts receivable	$	26,224
Inventory	29,044
Other assets	5,620
Other liabilities	(23,018)
Deferred income tax	(13,881)
Goodwill and other intangibles	270,427
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
	(In thousands, except per share data)
Net sales		$	730,353
Income before income taxes and equity in earnings		2,439
Net loss		(267)
Basic and diluted loss per common share		$	(0.01)

ACQUISITIONS

12 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

ACQUISITIONS

Filament

On 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.

In the first two months of 2019, the Company decreased goodwill by approximately $1.0 million due to certain opening balance sheet fair value adjustments, primarily related to deferred taxes.

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 final estimate of the fair value of the assets acquired and liabilities assumed, as follows (in thousands):



Accounts receivable	$	26,224
Inventory	29,044
Other assets	5,620
Other liabilities	(23,018)
Deferred income tax	(13,881)
Goodwill and other intangibles	270,427
Total allocated value	$	294,416

The acquisition was 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 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 7 — GOODWILL AND INTANGIBLE ASSETS). Goodwill results from such factors as an assembled workforce. The total amount of goodwill is not expected to be deductible for tax purposes.

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 unaudited pro forma financial information presents the results of the Company as if the acquisition of Filament had occurred on January 1, 2018.

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.


		Year ended December 31,
		2018
	(In thousands, except per share data)
Net sales		$	730,353
Income before income taxes and equity in earnings		2,439
Net loss		(267)
Basic and diluted loss per common share		$	(0.01)

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.

SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule Of Significant Accounting Policies [Line Items]
Foreign currency gain (loss)		$ 500	$ 100	$ (500)
SKU rationalization charged to cost of sales			8,500
Inventory effected percentage	8.00%
Cost of depreciation		1,000	1,400
Freight-out expenses		15,400	15,500	14,500
Advertising expenses		3,400	4,000	4,400
Restructuring expenses		$ 211	1,435	2,324
Employee severance
Schedule Of Significant Accounting Policies [Line Items]
Percentage of net sales		10.00%
U.S.
Schedule Of Significant Accounting Policies [Line Items]
Restructuring expenses			700	2,100
Accrued restructuring expenses			100
International
Schedule Of Significant Accounting Policies [Line Items]
Restructuring expenses		$ 200	700	$ 200
Accrued restructuring expenses		$ 0	$ 0
Performance Shares
Schedule Of Significant Accounting Policies [Line Items]
Number of shares range percentage		150.00%
Vesting period		3 years
Wal-Mart Stores Inc \| Net sales \| Credit Concentration Risk
Schedule Of Significant Accounting Policies [Line Items]
Percentage of net sales		20.00%	16.00%	14.00%
Costco Wholesale Corporation \| Net sales \| Credit Concentration Risk
Schedule Of Significant Accounting Policies [Line Items]
Percentage of net sales		11.00%	11.00%
Building and improvements
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

BUSINESS SEGMENTS - Net Sales and Long-Lived Assets by Major Geographic Locations (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	$ 45,620	$ 53,528
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	16,985	23,455
Mexico
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	20,032	21,288
United Kingdom
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	8,157	8,353
Rest of World
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	$ 446	$ 432

CAPITAL STOCK - Cash Dividends Declared (Details) - $ / shares	Feb. 12, 2021	Dec. 16, 2020	Nov. 16, 2020	Aug. 17, 2020	Feb. 14, 2020	Nov. 15, 2019	Aug. 15, 2019	May 15, 2019
Dividends Payable [Line Items]
Dividend per share (usd per share)		$ 0.0425	$ 0.0425	$ 0.0425	$ 0.0425	$ 0.0425	$ 0.0425	$ 0.0425
Subsequent Event
Dividends Payable [Line Items]
Dividend per share (usd per share)	$ 0.0425

BUSINESS SEGMENTS - Additional Information (Details)	12 Months Ended
BUSINESS SEGMENTS - Additional Information (Details)	Dec. 31, 2020 Segment
Segment Reporting [Abstract]
Number of reportable business segment	2

DERIVATIVES - Fair Values of Derivative Financial Instruments Included in Consolidated Balance Sheets (Details) - Fair Value, Observable inputs, Level 2 - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Derivatives designated as hedging instruments \| Interest rate swaps \| Prepaid expenses
Derivatives, Fair Value [Line Items]
Fair Value of Derivative Assets	$ 0	$ 427
Derivatives designated as hedging instruments \| Interest rate swaps \| Other assets
Derivatives, Fair Value [Line Items]
Fair Value of Derivative Assets	0	1,267
Derivatives designated as hedging instruments \| Interest rate swaps \| Accrued expenses
Derivatives, Fair Value [Line Items]
Fair Value of Derivative Assets	504	0
Derivatives designated as hedging instruments \| Interest rate swaps \| Other Long-Term Liabilities
Derivatives, Fair Value [Line Items]
Fair Value of Derivative Assets	1,034	0
Derivatives designated as hedging instruments \| Foreign exchange contracts \| Accrued expenses
Derivatives, Fair Value [Line Items]
Fair Value of Derivative Assets	0	180
Derivatives not designated as hedging instruments \| Interest rate swaps \| Other assets
Derivatives, Fair Value [Line Items]
Fair Value of Derivative Assets	0	402
Derivatives not designated as hedging instruments \| Interest rate swaps \| Other Long-Term Liabilities
Derivatives, Fair Value [Line Items]
Fair Value of Derivative Assets	$ 1,742	$ 0