Company: IPAR
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0001753926-25-000424
Chunk: 157

Company: INTERPARFUMS INC
Filing Date: 2025-03-11
Form: 10-K
Item: Item 6
Chunk 157
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million as of December 31, 2024, 2023 and 2022, respectively. Share-based compensation resulted in a discrete tax benefit of $0.7 million, $1.2 million and $0.8 million in 2024, 2023 and 2022, respectively.

Net Income

Year ended December 31,

2024

2023

2022

(In thousands)

Net income attributable to European based operations
 
$
140,084

$
123,994

$
107,292

Net income attributable to United States based operations

68,853

63,782

43,745

Eliminations

(5,504
)

—

—

Net income

203,433

187,776

151,037

Less: Net income attributable to the noncontrolling interest

39,075

35,122

30,099

Net income attributable to Interparfums, Inc.
 
$
164,358

$
152,654

$
120,938

Net income attributable to Interparfums, Inc. was $164.4 million, $152.7 million and $120.9 million in 2024, 2023 and 2022, respectively.

Net income attributable to European based operations was $140.1 million, $124.0 million and $107.3 million in 2024, 2023 and 2022, respectively, while net income attributable to United States based operations was $68.9 million, $63.8 million and $43.7 million in 2024, 2023 and 2022, respectively. The significant fluctuations in net income for both European and United States based operations are directly related to the previous discussions relating to changes in sales, gross profit margins, selling, general and administrative expenses.

The noncontrolling interest arises from our 72% owned subsidiary in Paris, Interparfums SA, which is also a publicly traded company as 28% of Interparfums SA shares trade on the Euronext. Net income attributable to the noncontrolling interest is directly related to the profitability of our European based operations and aggregated 27.7%, 28.1% and 27.9% of European based operations net income in 2024, 2023 and 2022, respectively. Net profit margins attributable to Interparfums, Inc. aggregated 11.3%, 11.6% and 11.1% in 2024,