0001140361-21-036462 | 10-Q | XBRL Viewer

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Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2021	Oct. 31, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Document Transition Report	false
Entity File Number	001-12421
Entity Registrant Name	NU SKIN ENTERPRISES, INC.
Entity Central Index Key	0001021561
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	87-0565309
Entity Address, Address Line One	75 West Center Street
Entity Address, City or Town	Provo
Entity Address, State or Province	UT
Entity Address, Postal Zip Code	84601
City Area Code	801
Local Phone Number	345-1000
Title of 12(b) Security	Class A Common Stock, $.001 par value
Trading Symbol	NUS
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		49,823,307

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 282,412	$ 402,683
Current investments	19,190	21,216
Accounts receivable, net	52,441	63,370
Inventories, net	415,203	314,366
Prepaid expenses and other	121,626	101,563
Total current assets	890,872	903,198
Property and equipment, net	464,049	468,181
Operating lease right-of-use assets	128,887	155,104
Goodwill	215,582	202,979
Other intangible assets, net	88,497	89,532
Other assets	186,522	138,082
Total assets	1,974,409	1,957,076
Current liabilities:
Accounts payable	52,023	66,174
Accrued expenses	378,573	446,682
Current portion of long-term debt	110,000	30,000
Total current liabilities	540,596	542,856
Operating lease liabilities	95,741	112,275
Long-term debt	278,563	305,393
Other liabilities	123,032	102,281
Total liabilities	1,037,932	1,062,805
Commitments and contingencies (Notes 5 and 11)
Stockholders' equity:
Class A common stock - 500 million shares authorized, $0.001 par value, 90.6 million shares issued	91	91
Additional paid-in capital	590,678	579,801
Treasury stock, at cost - 40.5 million and 39.7 million shares	(1,518,535)	(1,461,593)
Accumulated other comprehensive loss	(75,658)	(64,768)
Retained earnings	1,939,901	1,840,740
Total stockholders' equity	936,477	894,271
Total liabilities and stockholders' equity	$ 1,974,409	$ 1,957,076

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares shares in Millions	Sep. 30, 2021	Dec. 31, 2020
Stockholders' equity:
Common stock, shares authorized (in shares)	500.0	500.0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares issued (in shares)	90.6	90.6
Treasury stock (in shares)	40.5	39.7

Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Consolidated Statements of Income (Unaudited) [Abstract]
Revenue	$ 641,152	$ 703,347	$ 2,022,233	$ 1,833,741
Cost of sales	158,907	183,374	501,448	463,277
Gross profit	482,245	519,973	1,520,785	1,370,464
Operating expenses:
Selling expenses	255,719	280,695	807,358	735,365
General and administrative expenses	161,142	165,050	499,754	466,232
Total operating expenses	416,861	445,745	1,307,112	1,201,597
Operating income	65,384	74,228	213,673	168,867
Other income (expense), net	2,781	525	351	(4,068)
Income before provision for income taxes	68,165	74,753	214,024	164,799
Provision for income taxes	18,436	18,446	57,527	46,911
Net income	$ 49,729	$ 56,307	$ 156,497	$ 117,888
Net income per share (Note 6):
Basic (in dollars per share)	$ 0.99	$ 1.10	$ 3.11	$ 2.24
Diluted (in dollars per share)	$ 0.97	$ 1.08	$ 3.03	$ 2.23
Weighted-average common shares outstanding:
Basic (in shares)	50,098	51,308	50,304	52,741
Diluted (in shares)	51,260	52,243	51,629	52,906

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Consolidated Statements of Comprehensive Income (Unaudited) [Abstract]
Net income	$ 49,729	$ 56,307	$ 156,497	$ 117,888
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustment, net of taxes of $(1) and $(8) for the three months ended September 30, 2021 and 2020, respectively, and $1 and $(3) for the nine months ended September 30, 2021 and 2020, respectively	(7,165)	10,022	(13,431)	1,873
Net unrealized gains/(losses) on cash flow hedges, net of taxes of $(7) and $(83) for the three months ended September 30, 2021 and 2020, respectively and $(678) and $(83) for the nine months ended September 30, 2021 and 2020, respectively.	25	305	2,455	305
Reclassification adjustment for realized losses/(gains) in current earnings on cash flow hedges, net of taxes of $(10) and $(2) for the three months ended September 30, 2021 and 2020, respectively and $(24) and $(2) for the nine months ended September 30, 2021 and 2020, respectively	35	6	86	6
Other comprehensive (loss) income, net of tax	(7,105)	10,333	(10,890)	2,184
Comprehensive income	$ 42,624	$ 66,640	$ 145,607	$ 120,072

- Definition

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

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+ Details

Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustment, tax	$ (1)	$ (8)	$ 1	$ (3)
Net unrealized gains/(losses) on cash flow hedges, tax	(7)	(83)	(678)	(83)
Reclassification adjustment for realized losses/(gains) in current earnings on cash flow hedges, tax	$ (10)	$ (2)	$ (24)	$ (2)

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member] Class A [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Loss [Member]	Retained Earnings [Member]	Total
Balance at beginning of period at Dec. 31, 2019	$ 91	$ 557,544	$ (1,324,826)	$ (85,292)	$ 1,727,772	$ 875,289
Stockholders' Equity [Roll Forward]
Net income	0	0	0	0	117,888	117,888
Other comprehensive (loss) income, net of tax	0	0	0	2,184	0	2,184
Repurchase of Class A common stock (Note 6)	0	0	(127,361)	0	0	(127,361)
Exercise of employee stock options/vesting of stock awards	0	(2,492)	5,813	0	0	3,321
Stock-based compensation	0	15,439	0	0	0	15,439
Cash dividends	0	0	0	0	(59,287)	(59,287)
Balance at end of period at Sep. 30, 2020	91	570,491	(1,446,374)	(83,108)	1,786,373	827,473
Balance at beginning of period at Jun. 30, 2020	91	563,115	(1,427,064)	(93,441)	1,749,311	792,012
Stockholders' Equity [Roll Forward]
Net income	0	0	0	0	56,307	56,307
Other comprehensive (loss) income, net of tax	0	0	0	10,333	0	10,333
Repurchase of Class A common stock (Note 6)	0	0	(19,994)	0	0	(19,994)
Exercise of employee stock options/vesting of stock awards	0	261	684	0	0	945
Stock-based compensation	0	7,115	0	0	0	7,115
Cash dividends	0	0	0	0	(19,245)	(19,245)
Balance at end of period at Sep. 30, 2020	91	570,491	(1,446,374)	(83,108)	1,786,373	827,473
Balance at beginning of period at Dec. 31, 2020	91	579,801	(1,461,593)	(64,768)	1,840,740	894,271
Stockholders' Equity [Roll Forward]
Net income	0	0	0	0	156,497	156,497
Other comprehensive (loss) income, net of tax	0	0	0	(10,890)	0	(10,890)
Repurchase of Class A common stock (Note 6)	0	0	(70,415)	0	0	(70,415)
Exercise of employee stock options/vesting of stock awards	0	(5,599)	13,473	0	0	7,874
Stock-based compensation	0	16,476	0	0	0	16,476
Cash dividends	0	0	0	0	(57,336)	(57,336)
Balance at end of period at Sep. 30, 2021	91	590,678	(1,518,535)	(75,658)	1,939,901	936,477
Balance at beginning of period at Jun. 30, 2021	91	586,976	(1,509,867)	(68,553)	1,909,179	917,826
Stockholders' Equity [Roll Forward]
Net income	0	0	0	0	49,729	49,729
Other comprehensive (loss) income, net of tax	0	0	0	(7,105)	0	(7,105)
Repurchase of Class A common stock (Note 6)	0	0	(10,005)	0	0	(10,005)
Exercise of employee stock options/vesting of stock awards	0	609	1,337	0	0	1,946
Stock-based compensation	0	3,093	0	0	0	3,093
Cash dividends	0	0	0	0	(19,007)	(19,007)
Balance at end of period at Sep. 30, 2021	$ 91	$ 590,678	$ (1,518,535)	$ (75,658)	$ 1,939,901	$ 936,477

- Definition

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

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+ Details

- Definition

Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

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+ Details

Consolidated Statements of Stockholders' Equity (Unaudited) (Parenthetical) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Stockholders' Equity [Roll Forward]
Exercise of employee stock options (in shares)	0.1	0.0	0.6	0.3

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities:
Net income	$ 156,497	$ 117,888
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	57,858	55,279
Non-cash lease expense	40,703	34,087
Stock-based compensation	16,476	15,439
Foreign currency losses	5,501	1,203
Loss on disposal of assets	13,210	2,516
Deferred taxes	3,846	(7,931)
Unrealized (gain)/losses on equity investments	(18,077)	0
Changes in operating assets and liabilities:
Accounts receivable, net	8,377	(9,273)
Inventories, net	(109,371)	4,882
Prepaid expenses and other	(29,311)	4,180
Other assets	(18,438)	(76,487)
Accounts payable	(11,182)	15,884
Accrued expenses	(89,993)	99,438
Other liabilities	5,977	27,343
Net cash provided by operating activities	32,073	284,448
Cash flows from investing activities:
Purchases of property and equipment	(50,384)	(48,810)
Proceeds on investment sales	11,171	7,630
Purchases of investments	(14,973)	(8,759)
Acquisitions (net of cash acquired)	(18,963)	0
Net cash used in investing activities	(73,149)	(49,939)
Cash flows from financing activities:
Exercise of employee stock options and taxes paid related to the net shares settlement of stock awards	7,874	3,321
Payment of cash dividends	(57,336)	(59,287)
Repurchases of shares of common stock	(70,415)	(127,361)
Finance lease principal payments	(1,409)	0
Payments of debt	(77,500)	(135,000)
Proceeds from debt	130,000	115,000
Net cash used in financing activities	(68,786)	(203,327)
Effect of exchange rate changes on cash	(10,409)	(102)
Net increase (decrease) in cash and cash equivalents	(120,271)	31,080
Cash and cash equivalents, beginning of period	402,683	335,630
Cash and cash equivalents, end of period	$ 282,412	$ 366,710

The Company

9 Months Ended

Sep. 30, 2021

The Company [Abstract]

The Company

1.	The Company

Nu Skin Enterprises, Inc. (the “Company”) is a holding company, with Nu Skin, being the primary operating unit. Nu Skin develops and distributes premium-quality, innovative beauty and wellness products that are sold worldwide under the Nu Skin, Pharmanex and ageLOC brands and a small number of other products and services. The Company reports revenue from ten segments, consisting of its seven geographic Nu Skin segments—Mainland China; Americas, which includes Canada, Latin America and the United States; South Korea; Europe, Middle East and Africa (“EMEA”), which includes markets in Europe as well as Israel, Russia and South Africa; Japan; Southeast Asia/Pacific, which includes Australia, Indonesia, Malaysia, New Zealand, the Philippines, Singapore, Thailand and Vietnam; and Hong Kong/Taiwan, which also includes Macau—and three Rhyz Investments segments—Manufacturing, which includes manufacturing and packaging subsidiaries it has acquired; Grow Tech, which focuses on developing controlled-environment agriculture technologies and Rhyz other, which includes other investments by its Rhyz strategic investment arm (the Company’s subsidiaries operating within each segment are collectively referred to as the “Subsidiaries”).

Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2021

Summary of Significant Accounting Policies [Abstract]

Summary of Significant Accounting Policies

2.	Summary of Significant Accounting Policies

The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by US GAAP for complete financial statements. The unaudited consolidated financial statements include the accounts of the Company and its Subsidiaries. All significant intercompany accounts and transactions are eliminated in consolidation. In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments, consisting of normal recurring adjustments, considered necessary for a fair statement of the Company’s financial information as of September 30, 2021, and for the three- and nine-month periods ended September 30, 2021 and 2020. The results of operations of any interim period are not necessarily indicative of the results of operations to be expected for the fiscal year. The consolidated balance sheet as of December 31, 2020 has been prepared using information from the audited financial statements at that date. For further information, refer to the consolidated financial statements and accompanying footnotes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020.

Accounting Pronouncements

In March 2020, the FASB issued, ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional guidance for a limited time to ease the potential burden in accounting for the effects of reference rate reform on financial reporting. The guidance provides optional expedients and exceptions for applying US GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. ASU 2020-04 applies only to contracts and hedging relationships that reference the London Interbank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued due to reference rate reform. The expedients and exceptions provided by the amendments do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022. The amendments in ASU 2020-04 are elective and are effective upon issuance for all entities. The Company elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future LIBOR-indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. The Company continues to evaluate the impact of the guidance and may apply other elections as applicable as additional changes in the market occur.

Inventory

Inventories consist of the following (U.S. dollars in thousands):

	September 30, 2021		December 31, 2020
Raw materials	$	182,656	$	118,877
Finished goods		232,547		195,489
Total Inventory, net	$	415,203	$	314,366

Revenue Recognition

Contract Liabilities – Customer Loyalty Programs

Contract liabilities, recorded as deferred revenue within the accrued expenses line in the consolidated balance sheets, include loyalty point program deferrals with certain customers which are accounted for as a reduction in the transaction price and are generally recognized as points are redeemed for additional products.

The balance of deferred revenue related to contract liabilities as of September 30, 2021 and December 31, 2020 was $24.5 million and $18.2 million, respectively. The contract liabilities impact to revenue for the three-month periods ended September 30, 2021, and 2020 was a decrease of $0.7 million and a decrease of $1.8 million, respectively. The impact to revenue for the nine-month periods ended September 30, 2021, and 2020 was a decrease of $6.3 million and a decrease of $5.3 million, respectively.

Equity Investments

The Company holds strategic investments in other companies. These investments are accounted for under the measurement alternative described in ASC 321, Investments - Equity Securities ("ASC 321") for equity investments that do not have readily determinable fair values. These investments are measured at cost, less impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer. The Company does not exercise significant influence over these companies. These investments are carried on the Consolidated Balance Sheets within Other Assets. Changes in fair value based on impairments or resulting from observable price changes are recorded in Other Income (expense), net on the Consolidated Statement of Comprehensive Operations. See Note 7 – Fair Value and Equity Investments, for further details around the Company’s equity investments.

Goodwill

9 Months Ended

Sep. 30, 2021

Goodwill [Abstract]

Goodwill

The Company’s reporting units for goodwill are its operating segments, which are also its reportable segments.

The following table presents goodwill allocated to the Company’s reportable segments for the periods ended September 30, 2021 and December 31, 2020 (U.S. dollars in thousands):

	September 30, 2021		December 31, 2020
Nu Skin
Mainland China	$	32,179	$	32,179
Americas		9,449		9,449
South Korea		29,261		29,261
Southeast Asia/Pacific		18,537		18,537
EMEA		2,875		2,875
Japan		16,019		16,019
Hong Kong/Taiwan		6,634		6,634
Rhyz Investments
Manufacturing		78,875		78,875
Grow Tech		9,150		9,150
Rhyz Other		12,603		—
Total	$	215,582	$	202,979

Debt

9 Months Ended

Sep. 30, 2021

Debt [Abstract]

Debt

Credit Agreement

On April 18, 2018, the Company entered into a Credit Agreement (the “Credit Agreement”) with several financial institutions as lenders and Bank of America, N.A., as administrative agent. The Credit Agreement provides for a $400 million term loan facility and a $350 million revolving credit facility, each with a term of five years. Both facilities bear interest at the LIBOR, plus a margin based on the consolidated leverage ratio. The term loan facility amortizes in quarterly installments in amounts resulting in an annual amortization of 5.0% during the first and second years, 7.5% during the third and fourth years and 10.0% during the fifth year after the closing date of the Credit Agreement, with the remainder payable at final maturity. The Credit Agreement requires the Company to maintain a consolidated leverage ratio not exceeding 2.25 to 1.00 and a consolidated interest coverage ratio of no less than 3.00 to 1.00. As of September 30, 2021, the Company was in compliance with all covenants under the Credit Agreement.

The following table summarizes the Company’s debt facilities as of September 30, 2021 and December 31, 2020:

Facility or Arrangement

Original

Principal Amount

Balance as of

September 30, 2021 ⁽¹⁾⁽²⁾

Balance as of

December 31, 2020⁽¹⁾⁽²⁾

Interest Rate

Repayment Terms

Credit Agreement term loan facility

400.0 million

315.0 million

337.5 million

Variable 30 day: 2.33%

35% of the principal amount is payable in increasing quarterly installments over a five-year period that began on June 30, 2018, with the remainder payable at the end of the five-year term.

Credit Agreement revolving credit facility

75.0 million

—

Variable 30 day: 2.33%

Revolving line of credit expires April 18, 2023.

(1)	As of September 30, 2021 and December 31, 2020, the current portion of the Company’s debt (i.e. becoming due in the next 12 months) included $35.0 million and $30.0 million, respectively, of the balance of its term loan under the Credit Agreement.

(2)	The carrying value of the debt reflects the amounts stated in the above table, less debt issuance costs of $1.4 million and $2.1 million as of September 30, 2021 and December 31, 2020, respectively, related to the Credit Agreement, which are not reflected in this table.

Leases

9 Months Ended

Sep. 30, 2021

Leases [Abstract]

Leases

As of September 30, 2021, the weighted average remaining lease term was 6.7 and 4.0 years for operating and finance leases, respectively. As of September 30, 2021, the weighted average discount rate was 4.0% and 3.8% for operating and finance leases, respectively.

The components of lease expense were as follows (U.S. dollars in thousands):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2021			2020			2021			2020
Operating lease expense
Operating lease cost	$	12,193		$	13,038		$	37,408		$	39,043
Variable lease cost		1,121			678			4,145			2,062
Short-term lease cost		13			118			590			258
Sublease income		(1,352	)		(1,075	)		(5,164	)		(3,264	)
Finance lease expense
Amortization of right-of-use assets		594			—			1,811			—
Interest on lease liabilities		77			—			248			—
Total lease expense	$	12,646		$	12,759		$	39,038		$	38,099

Supplemental cash flow information related to leases was as follows (U.S. dollars in thousands):

	Nine Months Ended September 30,
	2021		2020
Operating cash outflow from operating leases	$	40,072	$	40,865
Operating cash outflow from finance leases	$	250	$	—
Financing cash outflow from finance leases	$	1,409	$	—
Right-of-use assets obtained in exchange for operating lease obligations	$	19,120	$	62,514
Right-of-use assets obtained in exchange for finance lease obligations	$	59	$	—

Maturities of lease liabilities were as follows (U.S. dollars in thousands):

Year Ending December 31	Operating Leases		Finance Leases
2021	$	11,911	$	535
2022		35,502		2,150
2023		24,955		2,069
2024		19,610		1,958
2025		14,725		1,385
Thereafter		41,327		262
Total		148,030		8,359
Less: Finance charges		18,241		622
Total principal liability	$	129,789	$	7,737

The Company has additional lease liabilities of $0.1 million which have not yet commenced as of September 30, 2021, and as such, have not been recognized on the consolidated balance sheets.

Capital Stock

9 Months Ended

Sep. 30, 2021

Capital Stock [Abstract]

Capital Stock

6.	Capital Stock

Net income per share

Net income per share is computed based on the weighted-average number of common shares outstanding during the periods presented. Additionally, diluted earnings per share data gives effect to all potentially dilutive common shares that were outstanding during the periods presented. For the three-month periods ended September 30, 2021 and 2020, stock options of 0.1 million and 0.2 million, respectively, and for the nine-month periods ended September 30, 2021 and 2020, stock options of 0.1 million and 0.6 million, respectively, were excluded from the calculation of diluted earnings per share because they were anti-dilutive.

Dividends

In February, May and August 2021, the Company’s board of directors declared quarterly cash dividends of $0.38 per share. These quarterly cash dividends of $19.3 million $19.0 million and $19.0 million were paid on March 10, 2021, June 9, 2021 and September 8, 2021 to stockholders of record on February 26, 2021, May 28, 2021 and August 27, 2021. In November 2021, the Company’s board of directors declared a quarterly cash dividend of $0.38 per share to be paid on December 8, 2021 to stockholders of record on November 26, 2021.

Repurchase of common stock

During the three-month periods ended September 30, 2021 and 2020, the Company repurchased 0.2 million and 0.4 million shares of its Class A common stock under its stock repurchase plan for $10.0 million and $20.0 million, respectively. During the nine-month periods ended September 30, 2021 and 2020, the Company repurchased 1.4 million shares and 4.8 million shares of its Class A common stock under its stock repurchase plan for $70.4 million and $127.4 million, respectively. As of September 30, 2021, $255.4 million was available for repurchases under the Company’s stock repurchase plan.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Fair Value and Equity Investments

9 Months Ended

Sep. 30, 2021

Fair Value and Equity Investments [Abstract]

Fair Value and Equity Investments

7.	Fair Value and Equity Investments

Fair Value

The carrying value of financial instruments including cash and cash equivalents, accounts receivable and accounts payable approximates fair values due to the short-term nature of these instruments. The carrying value of debt approximates fair value due to the variable 30-day interest rate. Fair value estimates are made at a specific point in time, based on relevant market information.

The FASB Codification defines fair value as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. On a quarterly basis, the Company measures at fair value certain financial assets, including cash equivalents. Accounting standards specify a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. These two types of inputs have created the following fair-value hierarchy:

◾

Level 1 – quoted prices in active markets for identical assets or liabilities;

◾

Level 2 – inputs, other than the quoted prices in active markets, that are observable either directly or indirectly;

◾

Level 3 – unobservable inputs based on the Company’s own assumptions.

Accounting standards permit companies, at their option, to measure certain financial instruments and other eligible items at fair value. The Company has elected not to apply the fair value option to existing eligible items beyond what is required by US GAAP.

The following tables present the fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis (U.S. dollars in thousands):

	Fair Value at September 30, 2021
	Level 1		Level 2			Level 3			Total
Financial assets (liabilities):
Cash equivalents and current investments	$	74,360	$	—		$	—		$	74,360
Derivative financial instruments asset		—		4,395			—			4,395
Life insurance contracts		—		—			48,625			48,625
Derivative financial instruments liability		—		(112	)		—			(112	)
Contingent consideration		—		—			(12,132	)		(12,132	)
Total	$	74,360	$	4,283		$	36,493		$	115,136

	Fair Value at December 31, 2020
	Level 1		Level 2			Level 3			Total
Financial assets (liabilities):
Cash equivalents and current investments	$	56,628	$	—		$	—		$	56,628
Derivative financial instruments asset		—		1,145			—			1,145
Life insurance contracts		—		—			45,453			45,453
Derivative financial instruments liability		—		(105	)		—			(105	)
Contingent consideration		—		—			(3,125	)		(3,125	)
Total	$	56,628	$	1,040		$	42,328		$	99,996

The following table provides a summary of changes in fair value of the Company’s Level 3 life insurance contracts (U.S. dollars in thousands):

Beginning balance at January 1, 2021	$	45,453
Actual return on plan assets		3,172
Purchase and issuances		7,016
Sales and settlements		(7,016	)
Transfers into Level 3		—
Ending balance at September 30, 2021	$	48,625

Life insurance contracts: ASC 820 preserves practicability exceptions to fair value measurements provided by other applicable provisions of U.S. GAAP. The guidance in ASC 715-30-35-60 allows a reporting entity, as a practical expedient, to use cash surrender value or conversion value as an expedient for fair value when it is present. Accordingly, the Company determines the fair value of its life insurance contracts as the cash-surrender value of life insurance policies held in its Rabbi Trust.

The following table provides a summary of changes in fair value of the Company’s Level 3 contingent consideration (U.S. dollars in thousands):

Beginning balance at January 1, 2021	$	(3,125	)
Additions from acquisitions		(8,702	)
Changes in fair value of contingent consideration		(305	)
Ending balance at September 30, 2021	$	(12,132	)

Contingent consideration: Contingent consideration represents the obligations incurred in connection with acquisitions. The estimate of fair value of the contingent consideration obligations requires subjective assumptions to be made regarding the future business results, discount rates, discount periods and probabilities assigned to various potential business result scenarios and was determined using probability assessments with respect to the likelihood of reaching various targets or of achieving certain milestones. The fair value measurement is based on significant inputs unobservable in the market and thus represents a level 3 measurement. Changes in current expectations of progress could change the probability of achieving the targets within the measurement periods and result in an increase or decrease in the fair value of the contingent consideration obligation.

Equity Investments

The Company maintains equity investments in companies which are accounted for under the measurement alternative described in ASC 321-10-35-2 for equity securities that lack readily determinable fair values. The carrying amount of equity securities held by the Company without readily determinable fair values was $28.1 million as of September 30, 2021 and $5.0 million as of December 31, 2021. During the three months ended September 30, 2021, the Company made an additional investment of $5.0 million. During the three months and nine months ended September 30, 2021 the Company recognized $18.1 million upward fair value adjustments, based on the valuation of additional equity issued by the investee which was deemed to be an observable transaction of a similar investment under ASC 321. The gain was recorded within Other income (expense), net on the Consolidated Statement of Comprehensive Operations. The upward fair value adjustment represents a nonrecurriing fair value measurement based on observable price changes and is classified as a level 2 fair value measurement.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Income Taxes

9 Months Ended

Sep. 30, 2021

Income Taxes [Abstract]

Income Taxes

8.	Income Taxes

Provision for income taxes for the three- and nine-month periods of 2021 was $18.4 million and $57.5 million, compared to $18.4 million and $46.9 million for the prior-year periods. The effective tax rates for the three- and nine-month periods were 27.0% and 26.9% of pre-tax income compared to 24.7% and 28.5% in the prior-year periods.

The Company accounts for income taxes in accordance with ASC Topic 740 “Income Taxes.” These standards establish financial accounting and reporting standards for the effects of income taxes that result from an enterprise’s activities during the current and preceding years. The Company takes an asset and liability approach for financial accounting and reporting of income taxes. The Company pays income taxes in many foreign jurisdictions based on the profits realized in those jurisdictions, which can be significantly impacted by terms of intercompany transactions between the Company and its foreign affiliates. Deferred tax assets and liabilities are created in this process. The Company has netted these deferred tax assets and deferred tax liabilities by jurisdiction. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts expected to be ultimately realized. The Company had net deferred tax assets of $25.5 million and $34.8 million as of September 30, 2021 and December 31, 2020, respectively.

The Company evaluates its indefinite reinvestment assertions with respect to foreign earnings for each quarter. For all foreign earnings, the Company accrues the applicable foreign income taxes. For the earnings that have been indefinitely reinvested, the Company does not accrue foreign withholding taxes. Undistributed earnings that the Company has indefinitely reinvested, for which no foreign withholding taxes have been provided, aggregate to $60.0 million as of December 31, 2020. If the amount designated as indefinitely reinvested as of December 31, 2020 was repatriated to the United States, the amount of incremental taxes would be approximately $6.0 million. The Company intends to utilize the indefinitely reinvested offshore earnings to fund foreign investments, specifically capital expenditures.

The Company files income tax returns in the U.S. federal jurisdiction, and in various state and foreign jurisdictions. The Company is no longer subject to tax examinations from the IRS for all years for which tax returns have been filed before 2020. With a few exceptions, the Company is no longer subject to state and local income tax examination by tax authorities for the years before 2017. In 2009, the Company entered into a voluntary program with the IRS called Compliance Assurance Process (“CAP”). The objective of CAP is to contemporaneously work with the IRS to achieve federal tax compliance and resolve all or most of the issues prior to filing of the tax return. The Company has elected to participate in CAP for 2021 and may elect to continue participating in CAP for future tax years; the Company may withdraw from the program at any time. In major foreign jurisdictions, the Company is generally no longer subject to income tax examinations for years before 2015. However, statutes of limitations in certain countries may be as long as ten years. The Company is currently under examination in certain foreign jurisdictions; however, the outcomes of those reviews are not yet determinable. The Company’s unrecognized tax benefits relate to multiple jurisdictions. Due to potential increases in unrecognized tax benefits from the multiple jurisdictions in which the Company operates, as well as the expiration of various statutes of limitations, it is reasonably possible that the Company’s gross unrecognized tax benefits, net of foreign currency adjustments, may decrease in the next 12 months by approximately $3.0 to $4.0 million.

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

Derivatives and Hedging Activities

9 Months Ended

Sep. 30, 2021

Derivatives and Hedging Activities [Abstract]

Derivatives and Hedging Activities

9.	Derivatives and Hedging Activities

Risk Management Objective of Using Derivatives

The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, liquidity, and credit risk primarily by managing the amount, sources, and duration of its assets and liabilities and the use of derivative financial instruments. Specifically, the Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. The Company’s derivative financial instruments are used to manage differences in the amount, timing, and duration of the Company’s known or expected cash receipts and its known or expected cash payments principally related to the Company’s borrowings.

Cash Flow Hedges of Interest Rate Risk

The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish this objective, the Company primarily uses interest rate swaps as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. During 2021, such derivatives were used to hedge the variable cash flows associated with existing variable-rate debt.

For derivatives designated and that qualify as cash flow hedges of interest rate risk, the gain or loss on the derivative is recorded in Accumulated Other Comprehensive Income and subsequently reclassified into interest expense/income in the same period(s) during which the hedged transaction affects earnings. Amounts reported in accumulated other comprehensive income related to derivatives will be reclassified to interest expense/income as interest payments are made/received on the Company’s variable-rate debt. During the next twelve months, the Company estimates that an additional $112 thousand will be reclassified as an increase to interest expense.

As of September 30, 2021 and December 31, 2020, the Company had four outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk with a total notional amount of $200 million.

Fair Values of Derivative Instruments on the Balance Sheet

The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Balance Sheet:

		Fair Values of Derivative Instruments
Derivatives in Cash flow Hedging Relationships:	Balance Sheet Location	September 30, 2021		December 31, 2020
Interest Rate Swap - Asset	Other Assets	$	4,395	$	1,145
Interest Rate Swap - Liability	Accrued Expenses	$	112	$	105

Effect of Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income

The tables below present the effect of cash flow hedge accounting on Accumulated Other Comprehensive Income.

	Amount of Gain (Loss) Recognized in OCI on Derivative
	Three Months Ended				Nine Months Ended
Derivatives in Cash flow	September 30,				September 30,
Hedging Relationships:	2021		2020		2021		2020
Interest Rate Swaps	$	32	$	388	$	3,133	$	388

		Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income
		Three Months Ended						Nine Months Ended
Derivatives in Cash flow	Income Statement	September 30,						September 30,
Hedging Relationships:	Location	2021			2020			2021			2020
Interest Rate Swaps	Other Income (Expense), Net	$	(45	)	$	(8	)	$	(110	)	$	(8	)

Segment Information

9 Months Ended

Sep. 30, 2021

Segment Information [Abstract]

Segment Information

10.	Segment Information

The Company reports revenue from ten segments, consisting of its seven geographic Nu Skin segments—Mainland China, Americas, South Korea, Southeast Asia/Pacific, Japan, EMEA, and Hong Kong/Taiwan—and three Rhyz Investments segments—Manufacturing, Grow Tech and Rhyz other. The Nu Skin other category includes miscellaneous corporate revenue and related adjustments. The Rhyz other segment includes other investments by our Rhyz strategic investment arm. These segments reflect the way the chief operating decision maker evaluates the Company’s business performance and allocates resources. Reported revenue includes only the revenue generated by sales to external customers.

Profitability by segment as determined under US GAAP is driven primarily by the Company’s transfer pricing policies. Segment contribution, which is the Company’s segment profitability metric presented in the table below, excludes certain intercompany charges, specifically royalties, license fees, transfer pricing, discrete charges and other miscellaneous items. These charges have been included in Corporate and other expenses. Corporate and other expenses also include costs related to the Company’s executive and administrative offices, information technology, research and development, and marketing and supply chain functions not recorded at the segment level.

In the first quarter of 2021, as a result of a change in the Company’s transfer pricing policies in the Americas, the segment contribution calculation has been adjusted. The prior year Americas and Corporate and other has been recast to conform with the new policy.

Beginning in July 2021, the Company has changed how the chief operating decision maker manages and reports the Pacific market. The Pacific market will be now be reported with the Southeast Asia segment and no longer with the Americas segment. Segment information has been recast to reflect the move of the Pacific components from the "America/Pacific" operating segment to the "Southeast Asia/Pacific" operating segment. Consolidated financial information is not affected.

The accounting policies of the segments are the same as those described in Note 2 – Summary of Significant Accounting Policies. The Company evaluates the performance of its segments based on revenue and segment contribution. Each segment records direct expenses related to its employees and its operations.

Summarized financial information for the Company’s reportable segments is shown in the following tables. Asset information is not reviewed or included with the Company’s internal management reporting. Therefore, the Company has not disclosed asset information for each reportable segment.

Revenue by Segment

	Three Months Ended September 30,					Nine Months Ended September 30,
(U.S. dollars in thousands)	2021		2020			2021		2020
Nu Skin
Mainland China	$	134,291	$	169,068		$	438,066	$	453,096
Americas		131,482		133,618			403,755		312,436
South Korea		91,989		83,460			261,724		236,094
Southeast Asia/Pacific		79,081		101,949			246,338		262,038
EMEA		55,839		61,411			215,134		147,590
Japan		65,117		70,958			203,001		200,549
Hong Kong/Taiwan		39,921		42,265			114,795		115,253
Nu Skin other		889		(314	)		2,350		374
Total Nu Skin		598,609		662,415			1,885,163		1,727,430
Rhyz Investments
Manufacturing ⁽¹⁾		41,635		40,910			135,760		105,975
Grow Tech		783		22			1,147		336
Rhyz other		125		—			163		—
Total Rhyz Investments		42,543		40,932			137,070		106,311
Total	$	641,152	$	703,347		$	2,022,233	$	1,833,741

(1)

The Manufacturing segment had $27.4 million and $10.9 million of intersegment revenue for the three months ended September 30, 2021 and 2020, respectively, and $68.0 million and $24.2 million for the nine months ended September 30, 2021 and 2020, respectively. Intersegment revenue is eliminated in the consolidated financial statements, as well as the reported segment revenue in the table above.

Segment Contribution

	Three Months Ended September 30,						Nine Months Ended September 30,
(U.S. dollars in thousands)	2021			2020			2021			2020
Nu Skin
Mainland China	$	30,677		$	54,522		$	121,596		$	135,577
Americas		25,752			20,618			83,495			48,730
South Korea		28,984			25,232			84,401			73,421
Southeast Asia/Pacific		19,020			23,892			59,881			62,263
EMEA		6,693			7,111			29,270			11,084
Japan		16,267			18,245			50,709			49,292
Hong Kong/Taiwan		8,940			9,048			24,848			22,825
Nu Skin contribution		136,333			158,668			454,200			403,192
Rhyz Investments
Manufacturing		3,059			6,749			15,649			15,000
Grow Tech		(6,798	)		(5,322	)		(19,869	)		(17,659	)
Rhyz other		(659	)		—			(1,178	)		—
Rhyz Investments contribution		(4,398	)		1,427			(5,398	)		(2,659	)
Total segment contribution		131,935			160,095			448,802			400,533
Corporate and other		(66,551	)		(85,867	)		(235,129	)		(231,666	)
Operating income		65,384			74,228			213,673			168,867
Other income (expense)		2,781			525			351			(4,068	)
Income before provision for income taxes	$	68,165		$	74,753		$	214,024		$	164,799

Depreciation and Amortization

	Three Months Ended September 30,				Nine Months Ended September 30,
(U.S. dollars in thousands)	2021		2020		2021		2020
Nu Skin
Mainland China	$	3,253	$	2,649	$	9,868	$	7,631
Americas		190		251		656		714
South Korea		805		756		2,768		2,731
Southeast Asia/Pacific		359		334		1,096		1,300
EMEA		281		231		850		731
Japan		220		296		699		1,602
Hong Kong/Taiwan		1,004		691		2,794		1,948
Total Nu Skin		6,112		5,208		18,731		16,657
Rhyz Investments
Manufacturing		3,069		2,077		8,644		5,954
Grow Tech		1,303		1,302		4,002		3,775
Rhyz other		592		—		987		—
Total Rhyz Investments		4,964		3,379		13,633		9,729
Corporate and other		8,857		9,333		25,494		28,893
Total	$	19,933	$	17,920	$	57,858	$	55,279

Capital Expenditures

	Three Months Ended September 30,				Nine Months Ended September 30,
(U.S. dollars in thousands)	2021		2020		2021		2020
Nu Skin
Mainland China	$	3,237	$	9,000	$	15,170	$	12,577
Americas		95		123		294		885
South Korea		—		173		508		537
Southeast Asia/Pacific		92		1,256		1,015		1,899
EMEA		391		718		821		1,378
Japan		3		1,484		94		3,132
Hong Kong/Taiwan		110		7		222		23
Total Nu Skin		3,928		12,761		18,124		20,431
Rhyz Investments
Manufacturing		2,604		2,113		11,604		13,221
Grow Tech		212		343		1,215		760
Rhyz other		—		—		—		—
Total Rhyz Investments		2,816		2,456		12,819		13,981
Corporate and other		6,791		4,901		19,441		14,398
Total	$	13,535	$	20,118	$	50,384	$	48,810

- 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

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+ Details

Commitments and Contingencies

9 Months Ended

Sep. 30, 2021

Commitments and Contingencies [Abstract]

Commitments and Contingencies

11.	Commitments and Contingencies

The Company is subject to government regulations pertaining to product formulation, labeling and packaging, product claims and advertising, and the Company’s direct selling system. The Company is also subject to the jurisdiction of numerous foreign tax and customs authorities. Any assertions or determination that either the Company or the Company’s sales force is not in compliance with existing statutes, laws, rules or regulations could have a material adverse effect on the Company’s operations. In addition, in any country or jurisdiction, the adoption of new statutes, laws, rules or regulations or changes in the interpretation of existing statutes, laws, rules or regulations could have a material adverse effect on the Company and its operations. No assurance can be given that the Company’s compliance with applicable statutes, laws, rules and regulations will not be challenged by foreign authorities or that such challenges will not have a material adverse effect on the Company’s financial position, results of operations or cash flows. The Company and its Subsidiaries are defendants in litigation, investigations and other proceedings involving various matters. Management believes that the ultimate liability arising from such claims and contingencies, if any, is not likely to have a material adverse effect on the Company’s consolidated financial condition, results of operations or cash flows.

The Company is subject to regular audits by federal, state and foreign tax authorities. These audits may result in additional tax liabilities. The Company believes it has appropriately provided for income taxes for all years. Several factors drive the calculation of its tax reserves. Some of these factors include: (i) the expiration of various statutes of limitations; (ii) changes in tax law and regulations; (iii) issuance of tax rulings; and (iv) settlements with tax authorities. Changes in any of these factors may result in adjustments to the Company’s reserves, which would impact its reported financial results.

Acquisitions

9 Months Ended

Sep. 30, 2021

Acquisitions [Abstract]

Acquisitions

12.	Acquisitions

In December 2020, the Company acquired 100% of the outstanding equity interest of Ingredient Innovations International Company (“3i”). The purchase price for 3i was $15.7 million, net of cash acquired of $2.1 million and $0.8 million to be paid within six months, all payable in cash. In addition, there is potential for an incremental $7.0 million in contingent consideration, which becomes payable if certain performance targets are reached in 2021 and 2022. The fair value of the contingent consideration recorded on the acquisition date was $3.1 million. The Company allocated the gross purchase price of $24.5 million to the assets acquired and liabilities assumed at estimated fair values. The estimated fair value of assets acquired included $14.4 million of intangible assets, $0.3 million of property and equipment, $2.1 million of cash, $0.8 million of accounts receivable and less than $0.3 million of inventory, and the acquisition also included approximately $0.3 million of current liabilities and resulted in a deferred tax liability of $3.1 million. The excess purchase price over the aggregate fair value of assets acquired less liabilities assumed of $6.4 million was recorded as goodwill. The intangible assets acquired were comprised of $3.7 million for Customer relationships, $10.0 million for technology and $0.7 million for other intangibles, all with an assigned estimated useful life of approximately 8 years. All the goodwill was assigned to our Manufacturing segment. The allocation of the fair value of assets acquired and liabilities assumed for the acquisition was finalized during the three months ended March 31, 2021.

In April 2021, the Company acquired 100% ownership in MyFavoriteThings, Inc. (“Mavely”) making Mavely a wholly owned subsidiary of the Company. The acquisition enables the Company to continue to expand its digital tools. The purchase price for Mavely was $16.8 million, net of cash acquired of $0.4 million and $0.9 million to be paid within six months, all payable in cash. In addition, there is potential for an incremental $24.0 million in contingent consideration, which becomes payable if certain revenue and profitability targets are reached in 2021, 2022 and 2023. The fair value of the contingent consideration recorded on the acquisition date was $8.7 million. The Company allocated the gross purchase price of $29.4 million to the assets acquired and liabilities assumed at estimated fair values. The estimated fair value of assets acquired included $16.4 million of intangible assets, $0.4 million of cash, $0.1 million of accounts receivable, and also resulted in a deferred tax liability of $3.5 million. The excess purchase price over the aggregate fair value of assets acquired less liabilities assumed of $12.6 million was recorded as goodwill. The goodwill recognized is attributable primarily to expected synergies. None of the goodwill is expected to be deductible for income tax purposes. The intangible assets acquired were comprised of $2.0 million for customer relationships, $11.3 million for technology, $2.8 million for trademarks and $0.3 million for other intangibles. The intangibles were assigned useful lives of 8 years for the technology and tradename, approximately 4 years for the customer relationships and 3 years for the other intangibles. All the goodwill was assigned to our Rhyz other segment. The allocation of the fair value of assets acquired and liabilities assumed for the acquisition was finalized during the three months ended September 30, 2021.

Summary of Significant Accounting Policies (Policies)

9 Months Ended

Sep. 30, 2021

Summary of Significant Accounting Policies [Abstract]

Basis of Accounting

Consolidation

The unaudited consolidated financial statements include the accounts of the Company and its Subsidiaries. All significant intercompany accounts and transactions are eliminated in consolidation.

Accounting Pronouncements

Inventory

Inventories consist of the following (U.S. dollars in thousands):

	September 30, 2021		December 31, 2020
Raw materials	$	182,656	$	118,877
Finished goods		232,547		195,489
Total Inventory, net	$	415,203	$	314,366

Revenue Recognition

Contract Liabilities – Customer Loyalty Programs

Equity Investments

- Definition

Disclosure of inventory accounting policy for inventory classes, including, but not limited to, basis for determining inventory amounts, methods by which amounts are added and removed from inventory classes, loss recognition on impairment of inventories, and situations in which inventories are stated above cost.

+ References + Details

- Definition

Disclosure of accounting policy for revenue from contract with customer.

+ References

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+ Details

Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2021

Summary of Significant Accounting Policies [Abstract]

Inventories

Inventories consist of the following (U.S. dollars in thousands):

	September 30, 2021		December 31, 2020
Raw materials	$	182,656	$	118,877
Finished goods		232,547		195,489
Total Inventory, net	$	415,203	$	314,366

Goodwill (Tables)

9 Months Ended

Sep. 30, 2021

Goodwill [Abstract]

Goodwill

The following table presents goodwill allocated to the Company’s reportable segments for the periods ended September 30, 2021 and December 31, 2020 (U.S. dollars in thousands):

	September 30, 2021		December 31, 2020
Nu Skin
Mainland China	$	32,179	$	32,179
Americas		9,449		9,449
South Korea		29,261		29,261
Southeast Asia/Pacific		18,537		18,537
EMEA		2,875		2,875
Japan		16,019		16,019
Hong Kong/Taiwan		6,634		6,634
Rhyz Investments
Manufacturing		78,875		78,875
Grow Tech		9,150		9,150
Rhyz Other		12,603		—
Total	$	215,582	$	202,979

Debt (Tables)

9 Months Ended

Sep. 30, 2021

Debt [Abstract]

Debt Facilities

The following table summarizes the Company’s debt facilities as of September 30, 2021 and December 31, 2020:

Facility or Arrangement

Original

Principal Amount

Balance as of

September 30, 2021 ⁽¹⁾⁽²⁾

Balance as of

December 31, 2020⁽¹⁾⁽²⁾

Interest Rate

Repayment Terms

Credit Agreement term loan facility

400.0 million

315.0 million

337.5 million

Variable 30 day: 2.33%

35% of the principal amount is payable in increasing quarterly installments over a five-year period that began on June 30, 2018, with the remainder payable at the end of the five-year term.

Credit Agreement revolving credit facility

75.0 million

—

Variable 30 day: 2.33%

Revolving line of credit expires April 18, 2023.

(1)	As of September 30, 2021 and December 31, 2020, the current portion of the Company’s debt (i.e. becoming due in the next 12 months) included $35.0 million and $30.0 million, respectively, of the balance of its term loan under the Credit Agreement.

(2)	The carrying value of the debt reflects the amounts stated in the above table, less debt issuance costs of $1.4 million and $2.1 million as of September 30, 2021 and December 31, 2020, respectively, related to the Credit Agreement, which are not reflected in this table.

- 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

Leases (Tables)

9 Months Ended

Sep. 30, 2021

Leases [Abstract]

Components of Lease Expense

The components of lease expense were as follows (U.S. dollars in thousands):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2021			2020			2021			2020
Operating lease expense
Operating lease cost	$	12,193		$	13,038		$	37,408		$	39,043
Variable lease cost		1,121			678			4,145			2,062
Short-term lease cost		13			118			590			258
Sublease income		(1,352	)		(1,075	)		(5,164	)		(3,264	)
Finance lease expense
Amortization of right-of-use assets		594			—			1,811			—
Interest on lease liabilities		77			—			248			—
Total lease expense	$	12,646		$	12,759		$	39,038		$	38,099

Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases was as follows (U.S. dollars in thousands):

	Nine Months Ended September 30,
	2021		2020
Operating cash outflow from operating leases	$	40,072	$	40,865
Operating cash outflow from finance leases	$	250	$	—
Financing cash outflow from finance leases	$	1,409	$	—
Right-of-use assets obtained in exchange for operating lease obligations	$	19,120	$	62,514
Right-of-use assets obtained in exchange for finance lease obligations	$	59	$	—

Maturities of Lease Liabilities

Maturities of lease liabilities were as follows (U.S. dollars in thousands):

Year Ending December 31	Operating Leases		Finance Leases
2021	$	11,911	$	535
2022		35,502		2,150
2023		24,955		2,069
2024		19,610		1,958
2025		14,725		1,385
Thereafter		41,327		262
Total		148,030		8,359
Less: Finance charges		18,241		622
Total principal liability	$	129,789	$	7,737

Fair Value and Equity Investments (Tables)

9 Months Ended

Sep. 30, 2021

Fair Value and Equity Investments [Abstract]

Assets (Liabilities) Measured at Fair Value on a Recurring Basis

The following tables present the fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis (U.S. dollars in thousands):

	Fair Value at September 30, 2021
	Level 1		Level 2			Level 3			Total
Financial assets (liabilities):
Cash equivalents and current investments	$	74,360	$	—		$	—		$	74,360
Derivative financial instruments asset		—		4,395			—			4,395
Life insurance contracts		—		—			48,625			48,625
Derivative financial instruments liability		—		(112	)		—			(112	)
Contingent consideration		—		—			(12,132	)		(12,132	)
Total	$	74,360	$	4,283		$	36,493		$	115,136

	Fair Value at December 31, 2020
	Level 1		Level 2			Level 3			Total
Financial assets (liabilities):
Cash equivalents and current investments	$	56,628	$	—		$	—		$	56,628
Derivative financial instruments asset		—		1,145			—			1,145
Life insurance contracts		—		—			45,453			45,453
Derivative financial instruments liability		—		(105	)		—			(105	)
Contingent consideration		—		—			(3,125	)		(3,125	)
Total	$	56,628	$	1,040		$	42,328		$	99,996

Changes in Fair Value of Level 3 Marketable Securities

The following table provides a summary of changes in fair value of the Company’s Level 3 life insurance contracts (U.S. dollars in thousands):

Beginning balance at January 1, 2021	$	45,453
Actual return on plan assets		3,172
Purchase and issuances		7,016
Sales and settlements		(7,016	)
Transfers into Level 3		—
Ending balance at September 30, 2021	$	48,625

Changes in Fair Value of Level 3 Contingent Consideration

The following table provides a summary of changes in fair value of the Company’s Level 3 contingent consideration (U.S. dollars in thousands):

Beginning balance at January 1, 2021	$	(3,125	)
Additions from acquisitions		(8,702	)
Changes in fair value of contingent consideration		(305	)
Ending balance at September 30, 2021	$	(12,132	)

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

Derivatives and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2021

Derivatives and Hedging Activities [Abstract]

Fair Values of Derivative Instruments on the Balance Sheet

The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Balance Sheet:

		Fair Values of Derivative Instruments
Derivatives in Cash flow Hedging Relationships:	Balance Sheet Location	September 30, 2021		December 31, 2020
Interest Rate Swap - Asset	Other Assets	$	4,395	$	1,145
Interest Rate Swap - Liability	Accrued Expenses	$	112	$	105

Effect of Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income

The tables below present the effect of cash flow hedge accounting on Accumulated Other Comprehensive Income.

	Amount of Gain (Loss) Recognized in OCI on Derivative
	Three Months Ended				Nine Months Ended
Derivatives in Cash flow	September 30,				September 30,
Hedging Relationships:	2021		2020		2021		2020
Interest Rate Swaps	$	32	$	388	$	3,133	$	388

		Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income
		Three Months Ended						Nine Months Ended
Derivatives in Cash flow	Income Statement	September 30,						September 30,
Hedging Relationships:	Location	2021			2020			2021			2020
Interest Rate Swaps	Other Income (Expense), Net	$	(45	)	$	(8	)	$	(110	)	$	(8	)

Segment Information (Tables)

9 Months Ended

Sep. 30, 2021

Segment Information [Abstract]

Revenue by Segment

	Three Months Ended September 30,					Nine Months Ended September 30,
(U.S. dollars in thousands)	2021		2020			2021		2020
Nu Skin
Mainland China	$	134,291	$	169,068		$	438,066	$	453,096
Americas		131,482		133,618			403,755		312,436
South Korea		91,989		83,460			261,724		236,094
Southeast Asia/Pacific		79,081		101,949			246,338		262,038
EMEA		55,839		61,411			215,134		147,590
Japan		65,117		70,958			203,001		200,549
Hong Kong/Taiwan		39,921		42,265			114,795		115,253
Nu Skin other		889		(314	)		2,350		374
Total Nu Skin		598,609		662,415			1,885,163		1,727,430
Rhyz Investments
Manufacturing ⁽¹⁾		41,635		40,910			135,760		105,975
Grow Tech		783		22			1,147		336
Rhyz other		125		—			163		—
Total Rhyz Investments		42,543		40,932			137,070		106,311
Total	$	641,152	$	703,347		$	2,022,233	$	1,833,741

(1)

Segment Contribution

	Three Months Ended September 30,						Nine Months Ended September 30,
(U.S. dollars in thousands)	2021			2020			2021			2020
Nu Skin
Mainland China	$	30,677		$	54,522		$	121,596		$	135,577
Americas		25,752			20,618			83,495			48,730
South Korea		28,984			25,232			84,401			73,421
Southeast Asia/Pacific		19,020			23,892			59,881			62,263
EMEA		6,693			7,111			29,270			11,084
Japan		16,267			18,245			50,709			49,292
Hong Kong/Taiwan		8,940			9,048			24,848			22,825
Nu Skin contribution		136,333			158,668			454,200			403,192
Rhyz Investments
Manufacturing		3,059			6,749			15,649			15,000
Grow Tech		(6,798	)		(5,322	)		(19,869	)		(17,659	)
Rhyz other		(659	)		—			(1,178	)		—
Rhyz Investments contribution		(4,398	)		1,427			(5,398	)		(2,659	)
Total segment contribution		131,935			160,095			448,802			400,533
Corporate and other		(66,551	)		(85,867	)		(235,129	)		(231,666	)
Operating income		65,384			74,228			213,673			168,867
Other income (expense)		2,781			525			351			(4,068	)
Income before provision for income taxes	$	68,165		$	74,753		$	214,024		$	164,799

Depreciation and Amortization and Capital Expenditures

Depreciation and Amortization

	Three Months Ended September 30,				Nine Months Ended September 30,
(U.S. dollars in thousands)	2021		2020		2021		2020
Nu Skin
Mainland China	$	3,253	$	2,649	$	9,868	$	7,631
Americas		190		251		656		714
South Korea		805		756		2,768		2,731
Southeast Asia/Pacific		359		334		1,096		1,300
EMEA		281		231		850		731
Japan		220		296		699		1,602
Hong Kong/Taiwan		1,004		691		2,794		1,948
Total Nu Skin		6,112		5,208		18,731		16,657
Rhyz Investments
Manufacturing		3,069		2,077		8,644		5,954
Grow Tech		1,303		1,302		4,002		3,775
Rhyz other		592		—		987		—
Total Rhyz Investments		4,964		3,379		13,633		9,729
Corporate and other		8,857		9,333		25,494		28,893
Total	$	19,933	$	17,920	$	57,858	$	55,279

Capital Expenditures

	Three Months Ended September 30,				Nine Months Ended September 30,
(U.S. dollars in thousands)	2021		2020		2021		2020
Nu Skin
Mainland China	$	3,237	$	9,000	$	15,170	$	12,577
Americas		95		123		294		885
South Korea		—		173		508		537
Southeast Asia/Pacific		92		1,256		1,015		1,899
EMEA		391		718		821		1,378
Japan		3		1,484		94		3,132
Hong Kong/Taiwan		110		7		222		23
Total Nu Skin		3,928		12,761		18,124		20,431
Rhyz Investments
Manufacturing		2,604		2,113		11,604		13,221
Grow Tech		212		343		1,215		760
Rhyz other		—		—		—		—
Total Rhyz Investments		2,816		2,456		12,819		13,981
Corporate and other		6,791		4,901		19,441		14,398
Total	$	13,535	$	20,118	$	50,384	$	48,810

The Company (Details)	9 Months Ended
The Company (Details)	Sep. 30, 2021 Segment
The Company [Abstract]
Number of reportable segments	10
Number of geographic segments	7
Number of Rhyz Investments segments	3

Summary of Significant Accounting Policies, Inventory (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Inventories [Abstract]
Raw materials	$ 182,656	$ 118,877
Finished goods	232,547	195,489
Total Inventory, net	$ 415,203	$ 314,366

Summary of Significant Accounting Policies, Revenue Recognition (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Contract Liabilities - Customer Loyalty Programs [Abstract]
Contract liabilities for customer loyalty programs	$ 24.5		$ 24.5		$ 18.2
Contract liabilities impact to revenue	$ (0.7)	$ (1.8)	$ (6.3)	$ (5.3)

Goodwill (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Goodwill [Abstract]
Goodwill	$ 215,582	$ 202,979
Mainland China [Member]
Goodwill [Abstract]
Goodwill	32,179	32,179
Americas [Member]
Goodwill [Abstract]
Goodwill	9,449	9,449
South Korea [Member]
Goodwill [Abstract]
Goodwill	29,261	29,261
Southeast Asia/Pacific [Member]
Goodwill [Abstract]
Goodwill	18,537	18,537
EMEA [Member]
Goodwill [Abstract]
Goodwill	2,875	2,875
Japan [Member]
Goodwill [Abstract]
Goodwill	16,019	16,019
Hong Kong/Taiwan [Member]
Goodwill [Abstract]
Goodwill	6,634	6,634
Manufacturing [Member]
Goodwill [Abstract]
Goodwill	78,875	78,875
Grow Tech [Member]
Goodwill [Abstract]
Goodwill	9,150	9,150
Rhyz Other [Member]
Goodwill [Abstract]
Goodwill	$ 12,603	$ 0

Debt, Credit Agreement (Details) - USD ($) $ in Millions	9 Months Ended
Debt, Credit Agreement (Details) - USD ($) $ in Millions	Sep. 30, 2021	Apr. 18, 2018
Credit Agreement [Member] \| Maximum [Member]
Debt [Abstract]
Consolidated leverage ratio	2.25
Credit Agreement [Member] \| Minimum [Member]
Debt [Abstract]
Consolidated interest coverage ratio	3.00
Term Loan Facility [Member]
Debt [Abstract]
Original principal amount	$ 400.0	$ 400.0
Term of loan	5 years
Term Loan Facility [Member] \| First Year [Member]
Debt [Abstract]
Annual amortization percentage	5.00%
Term Loan Facility [Member] \| Second Year [Member]
Debt [Abstract]
Annual amortization percentage	5.00%
Term Loan Facility [Member] \| Third Year [Member]
Debt [Abstract]
Annual amortization percentage	7.50%
Term Loan Facility [Member] \| Fourth Year [Member]
Debt [Abstract]
Annual amortization percentage	7.50%
Term Loan Facility [Member] \| Fifth Year [Member]
Debt [Abstract]
Annual amortization percentage	10.00%
Revolving Credit Facility [Member]
Debt [Abstract]
Borrowing capacity		$ 350.0
Term of loan	5 years

Debt, Debt Facilities (Details) - USD ($)
$ in Thousands

9 Months Ended

Sep. 30, 2021

Dec. 31, 2020

Apr. 18, 2018

Debt [Abstract]

Term of variable rate

30 days

Current portion of long-term debt

$ 110,000

$ 30,000

Credit Agreement [Member]

Debt [Abstract]

Unamortized debt issuance costs

1,400

2,100

Credit Agreement Term Loan Facility [Member]

Debt [Abstract]

Original principal amount

400,000

$ 400,000

Balance

^[1],[2]

$ 315,000

337,500

Interest rate

Variable 30 day: 2.33%

Interest rate

2.33%

Term of variable rate

30 days

Repayment terms

35% of the principal amount is payable in increasing quarterly installments over a five-year period that began on June 30, 2018, with the remainder payable at the end of the five-year term.

Percentage of principal payable in installments

35.00%

Term of loan

5 years

Current portion of long-term debt

$ 35,000

30,000

Credit Agreement Revolving Credit Facility [Member]

Debt [Abstract]

Balance

^[1],[2]

$ 75,000

$ 0

Interest rate

Variable 30 day: 2.33%

Interest rate

2.33%

Term of variable rate

30 days

Repayment terms

Revolving line of credit expires April 18, 2023.

Term of loan

5 years

[1]	As of September 30, 2021 and December 31, 2020, the current portion of the Company’s debt (i.e. becoming due in the next 12 months) included $35.0 million and $30.0 million, respectively, of the balance of its term loan under the Credit Agreement.
[2]	The carrying value of the debt reflects the amounts stated in the above table, less debt issuance costs of $1.4 million and $2.1 million as of September 30, 2021 and December 31, 2020, respectively, related to the Credit Agreement, which are not reflected in this table.

Leases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Leases (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Leases [Abstract]
Weighted average remaining lease term for operating leases	6 years 8 months 12 days		6 years 8 months 12 days
Weighted average remaining lease term for finance leases	4 years		4 years
Weighted average discount rate for operating leases	4.00%		4.00%
Weighted average discount rate for finance leases	3.80%		3.80%
Operating Lease Expense [Abstract]
Operating lease cost	$ 12,193	$ 13,038	$ 37,408	$ 39,043
Variable lease cost	1,121	678	4,145	2,062
Short-term lease cost	13	118	590	258
Sublease income	(1,352)	(1,075)	(5,164)	(3,264)
Finance Lease Expense [Abstract]
Amortization of right-of-use assets	594	0	1,811	0
Interest on lease liabilities	77	0	248	0
Total lease expense	12,646	$ 12,759	39,038	38,099
Supplemental Cash Flow Information Related to Leases [Abstract]
Operating cash outflow from operating leases			40,072	40,865
Operating cash outflow from finance leases			250	0
Financing cash outflow from finance leases			1,409	0
Right-of-use assets obtained in exchange for operating lease obligations			19,120	62,514
Right-of-use assets obtained in exchange for finance lease obligations			59	$ 0
Maturities of Operating Lease Liabilities [Abstract]
2021	11,911		11,911
2022	35,502		35,502
2023	24,955		24,955
2024	19,610		19,610
2025	14,725		14,725
Thereafter	41,327		41,327
Total	148,030		148,030
Less: Finance charges	18,241		18,241
Total principal liability	129,789		129,789
Maturities of Financing Lease Liabilities [Abstract]
2021	535		535
2022	2,150		2,150
2023	2,069		2,069
2024	1,958		1,958
2025	1,385		1,385
Thereafter	262		262
Total	8,359		8,359
Less: Finance charges	622		622
Total principal liability	7,737		7,737
Additional lease liabilities not yet commenced	$ 100		$ 100

Capital Stock, Net Income per Share (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Stock Options [Member]
Net Income per Share [Abstract]
Anti-dilutive shares excluded from calculation of diluted earnings per share (in shares)	0.1	0.2	0.1	0.6

Capital Stock, Dividends (Details) - USD ($) $ / shares in Units, $ in Thousands					1 Months Ended			9 Months Ended
	Nov. 03, 2021	Sep. 08, 2021	Jun. 09, 2021	Mar. 10, 2021	Aug. 31, 2021	May 31, 2021	Feb. 28, 2021	Sep. 30, 2021	Sep. 30, 2020
Dividends per Share [Abstract]
Payment of cash dividends								$ 57,336	$ 59,287
Dividend Declared 2021-Q1 [Member]
Dividends per Share [Abstract]
Dividend payable, date declared								2021-02
Dividend payable per share (in dollars per share)							$ 0.38
Payment of cash dividends				$ 19,300
Dividend payable, date paid								Mar. 10, 2021
Dividend payable, date of record								Feb. 26, 2021
Dividend Declared 2021-Q2 [Member]
Dividends per Share [Abstract]
Dividend payable, date declared								2021-05
Dividend payable per share (in dollars per share)						$ 0.38
Payment of cash dividends			$ 19,000
Dividend payable, date paid								Jun. 09, 2021
Dividend payable, date of record								May 28, 2021
Dividend Declared 2021-Q3 [Member]
Dividends per Share [Abstract]
Dividend payable, date declared								2021-08
Dividend payable per share (in dollars per share)					$ 0.38
Payment of cash dividends		$ 19,000
Dividend payable, date paid								Sep. 08, 2021
Dividend payable, date of record								Aug. 27, 2021
Dividend Declared 2021-Q4 [Member] \| Subsequent Event [Member]
Dividends per Share [Abstract]
Dividend payable, date declared	2021-11
Dividend payable per share (in dollars per share)	$ 0.38
Dividend payable, date paid	Dec. 08, 2021
Dividend payable, date of record	Nov. 26, 2021

Capital Stock, Repurchase of Common Stock (Details) - USD ($) $ in Thousands, shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Repurchases of Common Stock [Abstract]
Class A common stock repurchased	$ 10,005	$ 19,994	$ 70,415	$ 127,361
Amount available for repurchases	$ 255,400		$ 255,400
Treasury Stock [Member]
Repurchases of Common Stock [Abstract]
Class A common stock repurchased (in shares)	0.2	0.4	1.4	4.8
Class A common stock repurchased	$ 10,005	$ 19,994	$ 70,415	$ 127,361

Fair Value and Equity Investments, Fair Value (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Fair Value and Equity Investments [Abstract]
Term of variable rate	30 days
Contingent Consideration [Member]
Changes in Fair Value of Level 3 Contingent Consideration [Roll Forward]
Beginning balance	$ (3,125)
Additions from acquisitions	(8,702)
Changes in fair value of contingent consideration	(305)
Ending balance	(12,132)
Fair Value on a Recurring Basis [Member]
Financial Assets (Liabilities) [Abstract]
Cash equivalents and current investments	74,360	$ 56,628
Derivative financial instruments asset	4,395	1,145
Life insurance contracts	48,625	45,453
Derivative financial instruments liability	(112)	(105)
Contingent consideration	(12,132)	(3,125)
Financial assets (liabilities)	115,136	99,996
Fair Value on a Recurring Basis [Member] \| Level 1 [Member]
Financial Assets (Liabilities) [Abstract]
Cash equivalents and current investments	74,360	56,628
Derivative financial instruments asset	0	0
Life insurance contracts	0	0
Derivative financial instruments liability	0	0
Contingent consideration	0	0
Financial assets (liabilities)	74,360	56,628
Fair Value on a Recurring Basis [Member] \| Level 2 [Member]
Financial Assets (Liabilities) [Abstract]
Cash equivalents and current investments	0	0
Derivative financial instruments asset	4,395	1,145
Life insurance contracts	0	0
Derivative financial instruments liability	(112)	(105)
Contingent consideration	0	0
Financial assets (liabilities)	4,283	1,040
Fair Value on a Recurring Basis [Member] \| Level 3 [Member]
Financial Assets (Liabilities) [Abstract]
Cash equivalents and current investments	0	0
Derivative financial instruments asset	0	0
Life insurance contracts	48,625	45,453
Derivative financial instruments liability	0	0
Contingent consideration	(12,132)	(3,125)
Financial assets (liabilities)	36,493	$ 42,328
Life Insurance Contracts [Member]
Changes in Fair Value of Level 3 Marketable Securities [Roll Forward]
Beginning balance	45,453
Actual return on plan assets	3,172
Purchase and issuances	7,016
Sales and settlements	(7,016)
Transfers into Level 3	0
Ending balance	$ 48,625

Fair Value and Equity Investments, Equity Investments (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Equity Securities without Readily Determinable Fair Value [Line Items]
Upward fair value adjustments on equity securities		$ 18,077	$ 0
Equity Securities [Member]
Equity Securities without Readily Determinable Fair Value [Line Items]
Carrying amount of equity securities without readily determinable fair values	$ 28,100	28,100		$ 5,000
Additional investment made	5,000
Equity Securities [Member] \| Other Income (Expense), Net [Member]
Equity Securities without Readily Determinable Fair Value [Line Items]
Upward fair value adjustments on equity securities	$ 18,100	$ 18,100

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Income Taxes [Abstract]
Provision for income taxes	$ 18,436	$ 18,446	$ 57,527	$ 46,911
Effective tax rate	27.00%	24.70%	26.90%	28.50%
Net deferred tax assets	$ 25,500		$ 25,500		$ 34,800
Undistributed earnings of non-U.S. subsidiaries					60,000
Incremental taxes if undistributed earnings on non-U.S. subsidiaries were repatriated					$ 6,000
Minimum [Member]
Income Taxes [Abstract]
Decrease in unrecognized tax benefits within the next 12 months that is reasonably possible	(3,000)		$ (3,000)
Maximum [Member]
Income Taxes [Abstract]
Statute of limitations related to income tax examinations			10 years
Income Taxes [Abstract]
Decrease in unrecognized tax benefits within the next 12 months that is reasonably possible	$ (4,000)		$ (4,000)

Derivatives and Hedging Activities, Fair Value of Derivative Instruments on the Balance Sheet (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021 USD ($) Derivatives	Dec. 31, 2020 USD ($) Derivatives
Derivatives and Hedging Activities [Abstract]
Gain to be reclassified to interest expense during next twelve months	$ 112
Number of outstanding derivatives held \| Derivatives	4	4
Notional amount	$ 200,000	$ 200,000
Interest Rate Swaps [Member] \| Designated as Hedging Instrument [Member] \| Other Assets [Member]
Derivatives and Hedging Activities [Abstract]
Fair value, asset	4,395	1,145
Interest Rate Swaps [Member] \| Designated as Hedging Instrument [Member] \| Accrued Expenses [Member]
Derivatives and Hedging Activities [Abstract]
Fair value, liability	$ 112	$ 105

Derivatives and Hedging Activities, Effect of Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income (Details) - Interest Rate Swaps [Member] - Designated as Hedging Instrument [Member] - Cash Flow Hedges [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Other Income (Expense), Net [Member]
Derivatives and Hedging Activities [Abstract]
Gain (loss) reclassified from accumulated other comprehensive loss into income	$ (45)	$ (8)	$ (110)	$ (8)
Other Comprehensive Loss [Member]
Derivatives and Hedging Activities [Abstract]
Gain (loss) recognized in OCI	$ 32	$ 388	$ 3,133	$ 388

Segment Information, Revenue by Segment (Details)
$ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2021

USD ($)

Sep. 30, 2020

USD ($)

Sep. 30, 2021

USD ($)

Segment

Sep. 30, 2020

USD ($)

Segment Information [Abstract]

Number of reportable segments | Segment

Number of geographic segments | Segment

Number of Rhyz Investments segments | Segment

Revenue by Segment [Abstract]

Revenue

$ 641,152

$ 703,347

$ 2,022,233

$ 1,833,741

Other [Member]

Revenue by Segment [Abstract]

Revenue

889

(314)

2,350

374

Operating Segment [Member] | Nu Skin [Member]

Revenue by Segment [Abstract]

Revenue

598,609

662,415

1,885,163

1,727,430

Operating Segment [Member] | Mainland China [Member]

Revenue by Segment [Abstract]

Revenue

134,291

169,068

438,066

453,096

Operating Segment [Member] | Americas [Member]

Revenue by Segment [Abstract]

Revenue

131,482

133,618

403,755

312,436

Operating Segment [Member] | South Korea [Member]

Revenue by Segment [Abstract]

Revenue

91,989

83,460

261,724

236,094

Operating Segment [Member] | Southeast Asia/Pacific [Member]

Revenue by Segment [Abstract]

Revenue

79,081

101,949

246,338

262,038

Operating Segment [Member] | EMEA [Member]

Revenue by Segment [Abstract]

Revenue

55,839

61,411

215,134

147,590

Operating Segment [Member] | Japan [Member]

Revenue by Segment [Abstract]

Revenue

65,117

70,958

203,001

200,549

Operating Segment [Member] | Hong Kong/Taiwan [Member]

Revenue by Segment [Abstract]

Revenue

39,921

42,265

114,795

115,253

Operating Segment [Member] | Rhyz Investments [Member]

Revenue by Segment [Abstract]

Revenue

42,543

40,932

137,070

106,311

Operating Segment [Member] | Manufacturing [Member]

Revenue by Segment [Abstract]

Revenue

^[1]

41,635

40,910

135,760

105,975

Operating Segment [Member] | Grow Tech [Member]

Revenue by Segment [Abstract]

Revenue

783

1,147

336

Operating Segment [Member] | Rhyz Other [Member]

Revenue by Segment [Abstract]

Revenue

125

163

Intersegment [Member] | Manufacturing [Member]

Revenue by Segment [Abstract]

Revenue

$ 27,400

$ 10,900

$ 68,000

$ 24,200

[1]

Segment Information, Segment Contribution (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Contribution [Abstract]
Operating income	$ 65,384	$ 74,228	$ 213,673	$ 168,867
Other income (expense)	2,781	525	351	(4,068)
Income before provision for income taxes	68,165	74,753	214,024	164,799
Operating Segment [Member]
Segment Contribution [Abstract]
Operating income	131,935	160,095	448,802	400,533
Operating Segment [Member] \| Nu Skin [Member]
Segment Contribution [Abstract]
Operating income	136,333	158,668	454,200	403,192
Operating Segment [Member] \| Mainland China [Member]
Segment Contribution [Abstract]
Operating income	30,677	54,522	121,596	135,577
Operating Segment [Member] \| Americas [Member]
Segment Contribution [Abstract]
Operating income	25,752	20,618	83,495	48,730
Operating Segment [Member] \| South Korea [Member]
Segment Contribution [Abstract]
Operating income	28,984	25,232	84,401	73,421
Operating Segment [Member] \| Southeast Asia/Pacific [Member]
Segment Contribution [Abstract]
Operating income	19,020	23,892	59,881	62,263
Operating Segment [Member] \| EMEA [Member]
Segment Contribution [Abstract]
Operating income	6,693	7,111	29,270	11,084
Operating Segment [Member] \| Japan [Member]
Segment Contribution [Abstract]
Operating income	16,267	18,245	50,709	49,292
Operating Segment [Member] \| Hong Kong/Taiwan [Member]
Segment Contribution [Abstract]
Operating income	8,940	9,048	24,848	22,825
Operating Segment [Member] \| Rhyz Investments [Member]
Segment Contribution [Abstract]
Operating income	(4,398)	1,427	(5,398)	(2,659)
Operating Segment [Member] \| Manufacturing [Member]
Segment Contribution [Abstract]
Operating income	3,059	6,749	15,649	15,000
Operating Segment [Member] \| Grow Tech [Member]
Segment Contribution [Abstract]
Operating income	(6,798)	(5,322)	(19,869)	(17,659)
Operating Segment [Member] \| Rhyz Other [Member]
Segment Contribution [Abstract]
Operating income	(659)	0	(1,178)	0
Corporate and Other [Member]
Segment Contribution [Abstract]
Operating income	$ (66,551)	$ (85,867)	$ (235,129)	$ (231,666)

Segment Information, Depreciation and Amortization and Capital Expenditures (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Summarized Financial Information [Abstract]
Depreciation and amortization	$ 19,933	$ 17,920	$ 57,858	$ 55,279
Capital expenditures	13,535	20,118	50,384	48,810
Operating Segments [Member] \| Nu Skin [Member]
Summarized Financial Information [Abstract]
Depreciation and amortization	6,112	5,208	18,731	16,657
Capital expenditures	3,928	12,761	18,124	20,431
Operating Segments [Member] \| Mainland China [Member]
Summarized Financial Information [Abstract]
Depreciation and amortization	3,253	2,649	9,868	7,631
Capital expenditures	3,237	9,000	15,170	12,577
Operating Segments [Member] \| Americas [Member]
Summarized Financial Information [Abstract]
Depreciation and amortization	190	251	656	714
Capital expenditures	95	123	294	885
Operating Segments [Member] \| South Korea [Member]
Summarized Financial Information [Abstract]
Depreciation and amortization	805	756	2,768	2,731
Capital expenditures	0	173	508	537
Operating Segments [Member] \| Southeast Asia/Pacific [Member]
Summarized Financial Information [Abstract]
Depreciation and amortization	359	334	1,096	1,300
Capital expenditures	92	1,256	1,015	1,899
Operating Segments [Member] \| EMEA [Member]
Summarized Financial Information [Abstract]
Depreciation and amortization	281	231	850	731
Capital expenditures	391	718	821	1,378
Operating Segments [Member] \| Japan [Member]
Summarized Financial Information [Abstract]
Depreciation and amortization	220	296	699	1,602
Capital expenditures	3	1,484	94	3,132
Operating Segments [Member] \| Hong Kong/Taiwan [Member]
Summarized Financial Information [Abstract]
Depreciation and amortization	1,004	691	2,794	1,948
Capital expenditures	110	7	222	23
Operating Segments [Member] \| Rhyz Investments [Member]
Summarized Financial Information [Abstract]
Depreciation and amortization	4,964	3,379	13,633	9,729
Capital expenditures	2,816	2,456	12,819	13,981
Operating Segments [Member] \| Manufacturing [Member]
Summarized Financial Information [Abstract]
Depreciation and amortization	3,069	2,077	8,644	5,954
Capital expenditures	2,604	2,113	11,604	13,221
Operating Segments [Member] \| Grow Tech [Member]
Summarized Financial Information [Abstract]
Depreciation and amortization	1,303	1,302	4,002	3,775
Capital expenditures	212	343	1,215	760
Operating Segments [Member] \| Rhyz Other [Member]
Summarized Financial Information [Abstract]
Depreciation and amortization	592	0	987	0
Capital expenditures	0	0	0	0
Corporate and Other [Member]
Summarized Financial Information [Abstract]
Depreciation and amortization	8,857	9,333	25,494	28,893
Capital expenditures	$ 6,791	$ 4,901	$ 19,441	$ 14,398

Acquisitions (Details) - USD ($) $ in Thousands	1 Months Ended		9 Months Ended
Acquisitions (Details) - USD ($) $ in Thousands	Apr. 30, 2021	Dec. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Acquisitions [Abstract]
Purchase price, net of cash acquired			$ 18,963	$ 0
Fair Value of Assets Acquired [Abstract]
Goodwill		$ 202,979	$ 215,582
3i [Member]
Acquisitions [Abstract]
Percentage of entity acquired		100.00%
Purchase price, net of cash acquired		$ 15,700
Cash acquired		2,100
Accrued liability		800
Incremental contingent consideration		7,000
Contingent consideration		3,100
Gross purchase price		24,500
Fair Value of Assets Acquired [Abstract]
Intangible assets		14,400
Property and equipment		300
Cash		2,100
Accounts receivable		800
Inventory		300
Current liabilities		300
Deferred tax liability		3,100
Goodwill		6,400
Useful life			8 years
3i [Member] \| Customer Relationships [Member]
Fair Value of Assets Acquired [Abstract]
Intangible assets		3,700
3i [Member] \| Technology [Member]
Fair Value of Assets Acquired [Abstract]
Intangible assets		10,000
3i [Member] \| Other Intangibles [Member]
Fair Value of Assets Acquired [Abstract]
Intangible assets		$ 700
Mavely [Member]
Acquisitions [Abstract]
Percentage of entity acquired	100.00%
Purchase price, net of cash acquired	$ 16,800
Cash acquired	400
Accrued liability	900
Incremental contingent consideration	24,000
Contingent consideration	8,700
Gross purchase price	29,400
Fair Value of Assets Acquired [Abstract]
Intangible assets	16,400
Cash	400
Accounts receivable	100
Deferred tax liability	3,500
Goodwill	12,600
Mavely [Member] \| Customer Relationships [Member]
Fair Value of Assets Acquired [Abstract]
Intangible assets	2,000
Useful life			4 years
Mavely [Member] \| Technology [Member]
Fair Value of Assets Acquired [Abstract]
Intangible assets	11,300
Useful life			8 years
Mavely [Member] \| Trademarks [Member]
Fair Value of Assets Acquired [Abstract]
Intangible assets	2,800
Mavely [Member] \| Tradenames [Member]
Fair Value of Assets Acquired [Abstract]
Useful life			8 years
Mavely [Member] \| Other Intangibles [Member]
Fair Value of Assets Acquired [Abstract]
Intangible assets	$ 300
Useful life			3 years