0001140361-24-036467 | 10-Q | XBRL Viewer

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Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net (loss) income	$ (118,791)	$ 38,268
Adjustments to reconcile net (loss) income to cash flows from operating activities:
Impairment of goodwill, fixed assets and other intangibles	147,350	0
Depreciation and amortization	36,040	34,147
Non-cash lease expense	14,769	16,522
Stock-based compensation	7,888	8,803
Inventory write-down	3,520	15,079
Foreign currency losses (gains)	2,528	(1,435)
(Gain) loss on disposal of assets	(446)	349
Deferred taxes	(2,314)	1,151
Changes in operating assets and liabilities:
Accounts receivable, net	1,394	(22,368)
Inventories, net	22,936	(33,534)
Prepaid expenses and other	(25,973)	(12,140)
Other assets	(4,169)	(2,709)
Accounts payable	(6,109)	(4,195)
Accrued expenses	(10,722)	(23,345)
Other liabilities	(13,376)	(1,148)
Net cash provided by operating activities	54,525	13,445
Cash flows from investing activities:
Purchases of property and equipment	(20,404)	(26,199)
Proceeds on investment sales	11,178	13,160
Purchases of investments	(8,567)	(16,883)
Acquisitions (net of cash acquired)	0	(77,275)
Net cash used in investing activities	(17,793)	(107,197)
Cash flows from financing activities:
Exercise of employee stock options and taxes paid related to the net shares settlement of stock awards	(1,951)	4,782
Payment of cash dividends	(5,961)	(38,867)
Finance lease principal payments	(1,560)	(1,546)
Contingent consideration payments	(6,300)	0
Payments of debt	(45,000)	(5,000)
Proceeds from debt	0	110,000
Net cash (used in) / provided by financing activities	(60,772)	69,369
Effect of exchange rate changes on cash	(7,767)	(4,788)
Net decrease in cash and cash equivalents	(31,807)	(29,171)
Cash and cash equivalents, beginning of period	256,057	264,725
Cash and cash equivalents, end of period	$ 224,250	$ 235,554

Derivatives and Hedging Activities

6 Months Ended

Jun. 30, 2024

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 2024, 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 $9.4 million will be reclassified as a reduction to interest expense.

As of June 30, 2024 and December 31, 2023, 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	June 30, 2024		December 31, 2023
Interest Rate Swap - Asset	Prepaid expenses and other	$	9,443	$	8,955
Interest Rate Swap - Asset	Other assets	$	681	$	3,734

Effect of Cash Flow Hedge Accounting on Accumulated Other Comprehensive Loss

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

	Amount of Gain Recognized in Other Comprehensive Loss on Derivatives
	Three Months Ended				Six Months Ended
	June 30,				June 30,
Derivatives in Cash flow Hedging Relationships:	2024		2023		2024		2023
Interest Rate Swaps	$	705	$	3,868	$	2,714	$	3,058

		Amount of Gain Reclassified from Accumulated Other Comprehensive Loss into Income
		Three Months Ended				Six Months Ended
		June 30,				June 30,
Derivatives in Cash flow Hedging Relationships:	Income Statement Location	2024		2023		2024		2023
Interest Rate Swaps	Other expense, net	$	2,636	$	2,466	$	5,279	$	4,663

Capital Stock, Net Income per Share (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Stock Awards and Options [Member]
Net Income per Share [Abstract]
Anti-dilutive shares excluded from calculation of diluted earnings per share (in shares)	1.7	0.2	1.7	0.2

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 224,250	$ 256,057
Current investments	8,671	11,759
Accounts receivable, net	71,554	72,879
Inventories, net	243,994	279,978
Prepaid expenses and other	105,937	81,198
Total current assets	654,406	701,871
Property and equipment, net	411,918	432,965
Operating lease right-of-use assets	88,071	90,107
Goodwill	99,885	230,768
Other intangible assets, net	88,464	105,309
Other assets	243,228	245,443
Total assets	1,585,972	1,806,463
Current liabilities:
Accounts payable	36,305	43,505
Accrued expenses	242,288	260,366
Current portion of long-term debt	30,000	25,000
Total current liabilities	308,593	328,871
Operating lease liabilities	70,318	70,943
Long-term debt	428,327	478,040
Other liabilities	92,570	106,641
Total liabilities	899,808	984,495
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	621,440	621,853
Treasury stock, at cost - 40.9 million and 41.1 million shares	(1,564,090)	(1,570,440)
Accumulated other comprehensive loss	(116,995)	(100,006)
Retained earnings	1,745,718	1,870,470
Total stockholders' equity	686,164	821,968
Total liabilities and stockholders' equity	$ 1,585,972	$ 1,806,463

Commitments and Contingencies

6 Months Ended

Jun. 30, 2024

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.

The Company

6 Months Ended

Jun. 30, 2024

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 nine segments, consisting of its seven geographic Nu Skin segments—Americas, which includes Canada, Latin America and the United States; Mainland China; Southeast Asia/Pacific, which includes Indonesia, Malaysia, the Philippines, Singapore, Thailand, Vietnam, Australia, New Zealand, and other markets; Japan; Europe and Africa, which includes markets in Europe as well as South Africa; South Korea; and Hong Kong/Taiwan, which also includes Macau—and two Rhyz segments—Manufacturing, which includes manufacturing and packaging subsidiaries it has acquired; and Rhyz other, which includes other investments by its Rhyz business arm (the Company’s subsidiaries operating within each segment are collectively referred to as the “Subsidiaries”).

Restructuring

6 Months Ended

Jun. 30, 2024

Restructuring [Abstract]

Restructuring

13.	Restructuring

In the third quarter of 2022, the Company adopted a strategic plan (“2022 Plan”) to focus resources on the Company’s strategic priorities and optimize future growth and profitability. The global program includes workforce reductions and footprint optimization. The Company incurred total charges under the program of approximately $53.3 million, with $40.8 million in cash charges of severance and lease termination cost and approximately $12.5 million of non-cash charges of impairment of fixed assets, acceleration of depreciation and impairment of other intangibles related to the footprint optimization. During 2022, the Company incurred charges to be settled in cash of $20.1 million in severance charges, $7.4 million in lease termination cost, and $5.2 million in other associated cost, and non-cash charges of $8.2 million in fixed asset impairments, $0.9 million in accelerated depreciation and $1.7 million in impairment of other intangibles. During 2022, the Company made cash payments of $21.0 million related to this global program, leaving an ending restructuring accrual of $11.7 million. During the first quarter and full year of 2023, the Company incurred charges to be settled in cash of $4.0 million in severance charges, $1.9 million in lease termination cost, and $2.2 million in other associated cost, and non-cash charges of $1.7 million in accelerated depreciation. In 2023, the Company made cash payments of $19.8 million, leaving no restructuring accrual related to this plan as of December 31, 2023.

Restructuring expense by segment - 2022 Plan

(U.S. dollars in thousands)	Three Months Ended March 31, 2023			Year Ended December 31, 2022		Total
Nu Skin
Americas	$	918		$	1,687	$	2,605
Mainland China		1,352			13,181		14,533
Southeast Asia/Pacific		131			1,809		1,940
Japan		1,515			699		2,214
Europe & Africa		(113	)		2,143		2,030
South Korea		422			1,533		1,955
Hong Kong/Taiwan		(201	)		2,464		2,263
Total Nu Skin		4,024			23,516		27,540
Rhyz Investments
Manufacturing		13			401		414
Rhyz other		—			—		—
Total Rhyz Investments		13			401		414
Corporate and other		5,750			19,577		25,327
Total	$	9,787		$	43,494	$	53,281

In the fourth quarter of 2023, the Company adopted another strategic plan (“2023 Plan”) to focus resources on the Company’s global priorities and optimize future growth and profitability. The global program includes workforce reductions. The Company estimates total charges under the program will approximate $20.0 million in cash charges of severance, approximately $2.2 million in other cash charges and approximately $8.2 million in non-cash charges, including approximately $6.4 million in fixed asset impairments. The Company expects to substantially complete the program during the second half of 2024. During the fourth quarter of 2023, the Company incurred charges to be settled in cash of $10.0 million in severance charges. During the fourth quarter of 2023, the Company made cash payments of $0.3 million, leaving an ending restructuring accrual of $9.7 million. During the first quarter of 2024 the Company incurred charges to be settled in cash of $4.1 million in severance charges and $2.0 million in other associated cost, and non-cash charges of $1.0 million in write-down of assets. During the first quarter of 2024, the Company made cash payments of $7.0 million, leaving an ending restructuring accrual of $8.8 million. During the second quarter of 2024, the Company incurred charges to be settled in cash of $1.0 million in severance charges and $0.1 million in other cash charges. In the second quarter of 2024, the Company incurred non-cash charges of $7.2 million, consisting of $6.4 million in fixed asset impairments and $0.8 million in other asset write-downs. During the second quarter of 2024, the Company made cash payments of $2.8 million, leaving an ending restructuring accrual of $7.1 million.

Restructuring expense by segment – 2023 Plan

	Three Months Ended
(U.S. dollars in thousands)	June 30, 2024			March 31, 2024		December 31, 2023		Total
Nu Skin
Americas	$	267		$	3,145	$	598	$	4,010
Mainland China		(162	)		1,017		2,910		3,765
Southeast Asia/Pacific		190			307		862		1,359
Japan		—			24		—		24
Europe & Africa		414			677		554		1,645
South Korea		(134	)		134		—		—
Hong Kong/Taiwan		(147	)		357		432		642
Total Nu Skin		428			5,661		5,356		11,445
Rhyz Investments
Manufacturing		—			—		—		—
Rhyz other		40			—		—		40
Total Rhyz Investments		40			—		—		40
Corporate and other		7,896			1,473		4,647		14,016
Total	$	8,364		$	7,134	$	10,003	$	25,501

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, 2022	$ 91	$ 613,278	$ (1,569,061)	$ (86,509)	$ 1,939,497	$ 897,296
Stockholders' Equity [Roll Forward]
Net income (loss)	0	0	0	0	38,268	38,268
Other comprehensive loss, net of tax	0	0	0	(14,937)	0	(14,937)
Exercise of employee stock options/vesting of stock awards	0	(6,502)	11,284	0	0	4,782
Stock-based compensation	0	8,803	0	0	0	8,803
Cash dividends	0	0	0	0	(38,867)	(38,867)
Balance at end of period at Jun. 30, 2023	91	615,579	(1,557,777)	(101,446)	1,938,898	895,345
Balance at beginning of period at Mar. 31, 2023	91	611,483	(1,559,080)	(91,005)	1,931,481	892,970
Stockholders' Equity [Roll Forward]
Net income (loss)	0	0	0	0	26,892	26,892
Other comprehensive loss, net of tax	0	0	0	(10,441)	0	(10,441)
Exercise of employee stock options/vesting of stock awards	0	(705)	1,303	0	0	598
Stock-based compensation	0	4,801	0	0	0	4,801
Cash dividends	0	0	0	0	(19,475)	(19,475)
Balance at end of period at Jun. 30, 2023	91	615,579	(1,557,777)	(101,446)	1,938,898	895,345
Balance at beginning of period at Dec. 31, 2023	91	621,853	(1,570,440)	(100,006)	1,870,470	821,968
Stockholders' Equity [Roll Forward]
Net income (loss)	0	0	0	0	(118,791)	(118,791)
Other comprehensive loss, net of tax	0	0	0	(16,989)	0	(16,989)
Exercise of employee stock options/vesting of stock awards	0	(8,301)	6,350	0	0	(1,951)
Stock-based compensation	0	7,888	0	0	0	7,888
Cash dividends	0	0	0	0	(5,961)	(5,961)
Balance at end of period at Jun. 30, 2024	91	621,440	(1,564,090)	(116,995)	1,745,718	686,164
Balance at beginning of period at Mar. 31, 2024	91	618,706	(1,564,942)	(110,607)	1,866,958	810,206
Stockholders' Equity [Roll Forward]
Net income (loss)	0	0	0	0	(118,258)	(118,258)
Other comprehensive loss, net of tax	0	0	0	(6,388)	0	(6,388)
Exercise of employee stock options/vesting of stock awards	0	(912)	852	0	0	(60)
Stock-based compensation	0	3,646	0	0	0	3,646
Cash dividends	0	0	0	0	(2,982)	(2,982)
Balance at end of period at Jun. 30, 2024	$ 91	$ 621,440	$ (1,564,090)	$ (116,995)	$ 1,745,718	$ 686,164

- Definition

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

+ References

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+ Details

- Definition

Amount of equity (deficit) attributable to parent and noncontrolling interest. Excludes temporary equity.

+ References

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+ Details

Acquisitions, Revenue and Pro Forma Revenue (Details) - LifeDNA and BeautyBio [Member] - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Acquisitions [Abstract]
Unaudited pro forma revenue as if acquisitions occurred on January 1, 2023		$ 504.1		$ 990.0
Rhyz Other [Member]
Acquisitions [Abstract]
Revenue since acquisitions	$ 4.4		$ 9.6

Goodwill and Intangibles

6 Months Ended

Jun. 30, 2024

Goodwill and Intangibles [Abstract]

Goodwill and Intangibles

3.	Goodwill and Intangibles

Goodwill

The Company’s reporting units for goodwill are its operating segments, which are also its reportable segments, with the exception of Rhyz other. The Rhyz other segment is made up of three reporting units, which had goodwill of $12.6 million, $3.7 million and $4.7 million as of June 30, 2024, and $12.6 million, $19.6 million and $4.7 million as of December 31, 2023, respectively.

During the three months ended June 30, 2024, the Company determined that the continued decline in the Company’s stock price and corresponding market capitalization as well as declines in some of the Company’s reporting units’ forecasts were triggering events that required the Company to perform a quantitative impairment analysis for all reporting units. Based on the analysis, the Company concluded the fair value of certain of its reporting units were less than their carrying value. As a result, the Company recorded non-cash goodwill impairment charges of $130.9 million within restructuring and impairment expenses on the consolidated statement of income. The impairment charges were $9.4 million for the Americas segment, $32.2 million for the Mainland China segment, $18.5 million for the Southeast Asia/Pacific segment, $16.0 million for the Japan segment, $29.3 million for the South Korea segment, $2.9 million for the Europe & Africa segment, $6.6 million for the Hong Kong/Taiwan segment and $15.9 million for the BeautyBio reporting unit within the Rhyz other segment. As part of the Company’s impairment analysis, the fair values of the reporting units were determined using the income approach. The income approach used level 3 inputs and utilized management estimates related to revenue growth rates, profitability margins, estimated future cash flows and discount rates.

The Manufacturing and Rhyz other reporting units’ fair values remain sensitive to unfavorable changes in assumptions utilized, including revenue growth rates, profitability margins, estimated future cash flows, and the discount rates that could result in impairment charges in a future period.

The following table presents goodwill allocated to the Company’s reportable segments for the periods ended June 30, 2024 and December 31, 2023 (U.S. dollars in thousands):

	June 30, 2024		December 31, 2023
Nu Skin
Americas	$	—	$	9,449
Mainland China		—		32,179
Southeast Asia/Pacific		—		18,537
Japan		—		16,019
South Korea		—		29,261
Europe & Africa		—		2,875
Hong Kong/Taiwan		—		6,634
Rhyz Investments
Manufacturing		78,875		78,875
Rhyz other		21,010		36,939
Total	$	99,885	$	230,768

Accumulated impairment charges as of June 30, 2024 were $9.4 million for the Americas segment, $32.2 million for the Mainland China segment, $18.5 million for the Southeast Asia/Pacific segment, $16.0 million for the Japan segment, $29.3 million for the South Korea segment, $2.9 million for the Europe & Africa segment, $6.6 million for the Hong Kong/Taiwan segment and $15.9 million for the Rhyz other segment. There were no accumulated impairment charges as of December 31, 2023.

Intangibles

The Company reviews long-lived assets for impairment when performance expectations, events or change in circumstances indicate that the assets’ carrying value may not be recoverable. The evaluation is performed at the lowest level of identifiable cash flows by comparing the carrying value of the asset group to the net undiscounted cash flows. If the evaluation indicates that the carrying amount of the assets may not be recoverable, any potential impairment is measured based upon the fair value of the related asset group.

During the second quarter of 2024, based on continued losses and change in forecasted losses associated with the BeautyBio retail asset group within the Rhyz other segment, the Company concluded that these factors were an interim triggering event. As a result, the Company performed an interim impairment test of the asset group and assessed the recoverability of the related asset group by comparing the carrying value of the retail asset group to the net undiscounted cash flow expected to be generated. The recoverability test indicated that the retail asset group was impaired. The Company concluded the retail assets group’s carrying value exceeded its estimated fair value, which was determined utilizing the discounted projected future cash flows, which resulted in an impairment charge. The estimated fair value was based on expected future cash flows using level 3 inputs and utilized management estimates related to revenue growth rates, profitability margins and discount rates. The Company recorded an impairment charge of $10.1 million for its Rhyz other segment during the three months ended June 30, 2024 within restructuring and impairment expenses on the consolidated statement of income. The retail asset group has a remaining carrying of value of $2.3 million with a remaining amortization period of approximately 9 years.

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

3 Months Ended

6 Months Ended

Jun. 30, 2024

USD ($)

Jun. 30, 2023

USD ($)

Jun. 30, 2024

USD ($)

Segment

Jun. 30, 2023

USD ($)

Segment Information [Abstract]

Number of reportable segments | Segment

Number of geographic segments | Segment

Number of Rhyz segments | Segment

Revenue by Segment [Abstract]

Revenue

$ 439,081

$ 500,257

$ 856,387

$ 981,719

Operating Segment [Member] | Nu Skin [Member]

Revenue by Segment [Abstract]

Revenue

371,248

448,988

726,021

890,738

Operating Segment [Member] | Americas [Member]

Revenue by Segment [Abstract]

Revenue

84,935

107,641

159,966

208,798

Operating Segment [Member] | Mainland China [Member]

Revenue by Segment [Abstract]

Revenue

64,710

88,362

125,777

156,338

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

Revenue by Segment [Abstract]

Revenue

60,341

63,764

120,406

131,574

Operating Segment [Member] | Japan [Member]

Revenue by Segment [Abstract]

Revenue

42,587

50,862

86,823

103,468

Operating Segment [Member] | South Korea [Member]

Revenue by Segment [Abstract]

Revenue

44,119

53,686

85,082

124,010

Operating Segment [Member] | Europe & Africa [Member]

Revenue by Segment [Abstract]

Revenue

40,714

46,968

82,987

94,412

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

Revenue by Segment [Abstract]

Revenue

33,846

37,108

64,312

71,656

Operating Segment [Member] | Other [Member]

Revenue by Segment [Abstract]

Revenue

(4)

597

668

482

Operating Segment [Member] | Rhyz Investments [Member]

Revenue by Segment [Abstract]

Revenue

67,833

51,269

130,366

90,981

Operating Segment [Member] | Manufacturing [Member]

Revenue by Segment [Abstract]

Revenue

^[1]

51,473

45,551

101,775

81,318

Operating Segment [Member] | Rhyz Other [Member]

Revenue by Segment [Abstract]

Revenue

16,360

5,718

28,591

9,663

Intersegment [Member] | Manufacturing [Member]

Revenue by Segment [Abstract]

Revenue

$ 9,000

$ 16,300

$ 17,600

$ 28,100

[1]

The Manufacturing segment had $9.0 million and $16.3 million of intersegment revenue for the three months ended June 30, 2024 and 2023, respectively, and $17.6 million and $28.1 million for the six months ended June 30, 2024 and 2023, respectively. Intersegment revenue is eliminated in the consolidated financial statements, as well as the reported segment revenue in the table above.

Leases

6 Months Ended

Jun. 30, 2024

Leases [Abstract]

Leases

As of June 30, 2024, the weighted-average remaining lease term was 7.0 and 3.3 years for operating and finance leases, respectively. As of June 30, 2024, the weighted-average discount rate was 3.7% and 3.7% for operating and finance leases, respectively.

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

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Operating lease expense
Operating lease cost	$	5,873	$	8,022	$	11,939	$	16,183
Variable lease cost		964		412		2,740		1,487
Finance lease expense
Amortization of right-of-use assets		725		1,603		1,483		2,603
Interest on lease liabilities		94		123		203		257
Total lease expense	$	7,656	$	10,160	$	16,365	$	20,530

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

	Six Months Ended June 30,
	2024		2023
Operating cash outflow from operating leases	$	12,515	$	15,310
Operating cash outflow from finance leases	$	204	$	260
Financing cash outflow from finance leases	$	1,560	$	1,546
Right-of-use assets obtained in exchange for operating lease obligations	$	14,595	$	14,052
Right-of-use assets obtained in exchange for finance lease obligations	$	10	$	576

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

Year Ending December 31	Operating Leases		Finance Leases
2024	$	12,332	$	1,569
2025		20,230		2,891
2026		15,540		2,884
2027		11,810		2,811
2028		8,738		60
Thereafter		32,402		—
Total		101,052		10,215
Less: Finance charges		10,731		643
Total principal liability	$	90,321	$	9,572

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2024	Aug. 01, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
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		49,701,640

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Income Taxes [Abstract]
Provision for income taxes	$ (13,390)	$ 10,221	$ (11,756)	$ 13,433
Effective tax rate	10.20%	27.50%	9.00%	26.00%
Net deferred tax assets	$ 108,300		$ 108,300		$ 105,000
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	2,000		2,000
Maximum [Member]
Income Taxes [Abstract]
Decrease in unrecognized tax benefits within the next 12 months that is reasonably possible	$ 3,000		$ 3,000
Foreign Jurisdictions [Member] \| Minimum [Member]
Income Taxes [Abstract]
Statute of limitations related to income tax examinations			3 years
Foreign Jurisdictions [Member] \| Maximum [Member]
Income Taxes [Abstract]
Statute of limitations related to income tax examinations			10 years

Acquisitions, LifeDNA (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	6 Months Ended
Acquisitions, LifeDNA (Details) - USD ($) $ in Thousands	Apr. 30, 2023	Dec. 31, 2023	Jun. 30, 2024
Fair Value of Assets Acquired [Abstract]
Goodwill		$ 230,768	$ 99,885
LifeDNA [Member]
Acquisitions [Abstract]
Percentage interest acquired	60.00%
Consideration paid, cash	$ 4,000
Consideration paid, conversion of previous SAFE	3,000
Consideration paid, convertible note	200
Gross purchase price	12,000
Fair Value of Assets Acquired [Abstract]
Intangible assets	7,300
Cash	1,700
Current assets	100
Accrued liabilities	900
Deferred tax liability	900
Goodwill	4,700
Measurement period adjustments to deferred tax liability and goodwill		$ 1,100
LifeDNA [Member] \| Customer Relationships [Member]
Fair Value of Assets Acquired [Abstract]
Intangible assets	600
Useful life			2 years
LifeDNA [Member] \| Technology [Member]
Fair Value of Assets Acquired [Abstract]
Intangible assets	1,700
Useful life			7 years
LifeDNA [Member] \| Tradenames [Member]
Fair Value of Assets Acquired [Abstract]
Intangible assets	1,000
Useful life			7 years
LifeDNA [Member] \| Other Intangibles [Member]
Fair Value of Assets Acquired [Abstract]
Intangible assets	$ 4,100
Useful life			7 years

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Consolidated Statements of Comprehensive Income [Abstract]
Net income (loss)	$ (118,258)	$ 26,892	$ (118,791)	$ 38,268
Other comprehensive loss, net of tax:
Foreign currency translation adjustment, net of taxes of zero for the three months ended June 30, 2024 and 2023, and zero and $(68) for the six months ended June 30, 2024 and 2023, respectively	(4,875)	(11,539)	(14,979)	(13,678)
Net unrealized gains/(losses) on cash flow hedges, net of taxes of $(152) and $(837) for the three months ended June 30, 2024 and 2023, respectively and $(587) and $(662) for the six months ended June 30, 2024 and 2023, respectively	553	3,031	2,127	2,396
Reclassification adjustment for realized losses/(gains) in current earnings on cash flow hedges, net of taxes of $570 and $533 for the three months ended June 30, 2024 and 2023, respectively and $1,142 and $1,008 for the six months ended June 30, 2024 and 2023, respectively	(2,066)	(1,933)	(4,137)	(3,655)
Other comprehensive loss, net of tax	(6,388)	(10,441)	(16,989)	(14,937)
Comprehensive income (loss)	$ (124,646)	$ 16,451	$ (135,780)	$ 23,331

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

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

+ References

+ Details

Goodwill and Intangibles (Tables)

6 Months Ended

Jun. 30, 2024

Goodwill and Intangibles [Abstract]

Goodwill

The following table presents goodwill allocated to the Company’s reportable segments for the periods ended June 30, 2024 and December 31, 2023 (U.S. dollars in thousands):

	June 30, 2024		December 31, 2023
Nu Skin
Americas	$	—	$	9,449
Mainland China		—		32,179
Southeast Asia/Pacific		—		18,537
Japan		—		16,019
South Korea		—		29,261
Europe & Africa		—		2,875
Hong Kong/Taiwan		—		6,634
Rhyz Investments
Manufacturing		78,875		78,875
Rhyz other		21,010		36,939
Total	$	99,885	$	230,768

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

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+ Details

Segment Information

6 Months Ended

Jun. 30, 2024

Segment Information [Abstract]

Segment Information

10.	Segment Information

The Company reports revenue from nine segments, consisting of its seven geographic Nu Skin segments—Americas, Mainland China, Southeast Asia/Pacific, South Korea, Japan, Europe & Africa, and Hong Kong/Taiwan—and two Rhyz Investments segments—Manufacturing 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 business 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.

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 June 30,					Six Months Ended June 30,
(U.S. dollars in thousands)	2024			2023		2024		2023
Nu Skin
Americas	$	84,935		$	107,641	$	159,966	$	208,798
Mainland China		64,710			88,362		125,777		156,338
Southeast Asia/Pacific		60,341			63,764		120,406		131,574
Japan		42,587			50,862		86,823		103,468
South Korea		44,119			53,686		85,082		124,010
Europe & Africa		40,714			46,968		82,987		94,412
Hong Kong/Taiwan		33,846			37,108		64,312		71,656
Nu Skin other		(4	)		597		668		482
Total Nu Skin		371,248			448,988		726,021		890,738
Rhyz Investments
Manufacturing ⁽¹⁾		51,473			45,551		101,775		81,318
Rhyz other		16,360			5,718		28,591		9,663
Total Rhyz Investments		67,833			51,269		130,366		90,981
Total	$	439,081		$	500,257	$	856,387	$	981,719

(1)

Segment Contribution

	Three Months Ended June 30,						Six Months Ended June 30,
(U.S. dollars in thousands)	2024			2023			2024			2023
Nu Skin
Americas	$	17,379		$	28,853		$	32,355		$	45,103
Mainland China		13,373			19,357			25,626			32,969
Southeast Asia/Pacific		10,706			11,396			21,790			23,867
Japan		11,704			12,508			23,710			25,416
South Korea		13,323			17,391			25,506			40,966
Europe & Africa		5,405			4,945			8,681			8,583
Hong Kong/Taiwan		8,414			10,148			15,781			17,982
Nu Skin contribution		80,304			104,598			153,449			194,886
Rhyz Investments
Manufacturing		1,757			4,218			3,724			2,845
Rhyz other		(5,473	)		(3,392	)		(11,415	)		(5,352	)
Rhyz Investments contribution		(3,716	)		826			(7,691	)		(2,507	)
Total segment contribution		76,588			105,424			145,758			192,379
Corporate and other		(202,145	)		(62,918	)		(262,493	)		(133,809	)
Operating income		(125,557	)		42,506			(116,735	)		58,570
Interest expense		6,720			5,769			14,045			10,657
Other income, net		629			376			233			3,788
Income (loss) before provision for income taxes	$	(131,648	)	$	37,113		$	(130,547	)	$	51,701

Depreciation and Amortization

	Three Months Ended June 30,				Six Months Ended June 30,
(U.S. dollars in thousands)	2024		2023		2024		2023
Nu Skin
Americas	$	93	$	126	$	198	$	192
Mainland China		2,726		2,610		5,500		5,385
Southeast Asia/Pacific		174		276		423		556
Japan		71		94		152		1,148
South Korea		261		299		506		752
Europe & Africa		274		257		547		539
Hong Kong/Taiwan		318		822		897		1,275
Total Nu Skin		3,917		4,484		8,223		9,847
Rhyz Investments
Manufacturing		3,432		3,329		6,767		6,753
Rhyz other		1,966		1,176		3,852		1,768
Total Rhyz Investments		5,398		4,505		10,619		8,521
Corporate and other		8,288		8,175		17,198		15,779
Total	$	17,603	$	17,164	$	36,040	$	34,147

Capital Expenditures

	Three Months Ended June 30,					Six Months Ended June 30,
(U.S. dollars in thousands)	2024		2023			2024		2023
Nu Skin
Americas	$	12	$	91		$	33	$	191
Mainland China		1,578		4,734			4,267		8,769
Southeast Asia/Pacific		9		127			18		191
Japan		23		(2	)		21		3
South Korea		—		7			22		161
Europe & Africa		124		157			289		276
Hong Kong/Taiwan		38		348			236		608
Total Nu Skin		1,784		5,462			4,886		10,199
Rhyz Investments
Manufacturing		1,115		4,216			2,464		5,697
Rhyz other		434		—			1,069		—
Total Rhyz Investments		1,549		4,216			3,533		5,697
Corporate and other		4,790		5,034			11,985		10,303
Total	$	8,123	$	14,712		$	20,404	$	26,199

- 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.

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-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-21

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

+ Details

Derivatives and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2024

Derivatives and Hedging Activities [Abstract]

Fair Value 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	June 30, 2024		December 31, 2023
Interest Rate Swap - Asset	Prepaid expenses and other	$	9,443	$	8,955
Interest Rate Swap - Asset	Other assets	$	681	$	3,734

Effect of Cash Flow Hedge Accounting on Accumulated Other Comprehensive Loss

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

	Amount of Gain Recognized in Other Comprehensive Loss on Derivatives
	Three Months Ended				Six Months Ended
	June 30,				June 30,
Derivatives in Cash flow Hedging Relationships:	2024		2023		2024		2023
Interest Rate Swaps	$	705	$	3,868	$	2,714	$	3,058

		Amount of Gain Reclassified from Accumulated Other Comprehensive Loss into Income
		Three Months Ended				Six Months Ended
		June 30,				June 30,
Derivatives in Cash flow Hedging Relationships:	Income Statement Location	2024		2023		2024		2023
Interest Rate Swaps	Other expense, net	$	2,636	$	2,466	$	5,279	$	4,663

Debt (Tables)

6 Months Ended

Jun. 30, 2024

Debt [Abstract]

Debt Facilities

The following table summarizes the Company’s debt facilities as of June 30, 2024 and December 31, 2023:

Facility or Arrangement	Original Principal Amount	Balance as of June 30, 2024⁽¹⁾⁽²⁾	Balance as of December 31, 2023⁽¹⁾⁽²⁾	Interest Rate	Repayment Terms
Credit Agreement term loan facility	$400.0 million	$370.0 million	$385.0 million	Variable 30 day: 7.44%	21% of the principal amount is payable in increasing quarterly installments over a five-year period that began on September 30, 2022, with the remainder payable at the end of the five-year term.
Credit Agreement revolving credit facility		$90.0 million	$120.0 million	Variable 30 day: 7.44%	Revolving line of credit expires June 14, 2027.

(1)

As of June 30, 2024 and December 31, 2023, the current portion of the Company’s debt (i.e., becoming due in the next 12 months) included $20.0 million and $25.0 million, respectively, of the balance of its term loan under the Credit Agreement and $10.0 million and zero, respectively, of the balance under the revolving line of credit.

(2)	The carrying value of the debt reflects the amounts stated in the above table, less debt issuance costs of $1.7 million and $2.0 million as of June 30, 2024 and December 31, 2023, 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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
-SubTopic 10
-Topic 210
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
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-Paragraph 69E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
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-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-7

+ Details

Goodwill and Intangibles (Details) $ in Thousands	3 Months Ended	6 Months Ended
Goodwill and Intangibles (Details) $ in Thousands	Jun. 30, 2024 USD ($)	Jun. 30, 2024 USD ($) ReportingUnit	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Goodwill and Intangibles [Abstract]
Goodwill	$ 99,885	$ 99,885		$ 230,768
Impairment of goodwill			$ 130,900
Americas [Member]
Goodwill and Intangibles [Abstract]
Goodwill	0	0		9,449
Impairment of goodwill	9,400
Accumulated impairment charges	9,400	9,400		0
Mainland China [Member]
Goodwill and Intangibles [Abstract]
Goodwill	0	0		32,179
Impairment of goodwill	32,200
Accumulated impairment charges	32,200	32,200		0
Southeast Asia/Pacific [Member]
Goodwill and Intangibles [Abstract]
Goodwill	0	0		18,537
Impairment of goodwill	18,500
Accumulated impairment charges	18,500	18,500		0
Japan [Member]
Goodwill and Intangibles [Abstract]
Goodwill	0	0		16,019
Impairment of goodwill	16,000
Accumulated impairment charges	16,000	16,000		0
South Korea [Member]
Goodwill and Intangibles [Abstract]
Goodwill	0	0		29,261
Impairment of goodwill	29,300
Accumulated impairment charges	29,300	29,300		0
Europe & Africa [Member]
Goodwill and Intangibles [Abstract]
Goodwill	0	0		2,875
Impairment of goodwill	2,900
Accumulated impairment charges	2,900	2,900		0
Hong Kong/Taiwan [Member]
Goodwill and Intangibles [Abstract]
Goodwill	0	0		6,634
Impairment of goodwill	6,600
Accumulated impairment charges	6,600	6,600		0
Manufacturing [Member]
Goodwill and Intangibles [Abstract]
Goodwill	78,875	$ 78,875		78,875
Rhyz Other [Member]
Goodwill and Intangibles [Abstract]
Number of reporting units \| ReportingUnit		3
Goodwill	21,010	$ 21,010		36,939
Accumulated impairment charges	15,900	15,900
Impairment of intangible assets	10,100
Rhyz Other [Member] \| BeautyBio Retail Asset Group [Member]
Goodwill and Intangibles [Abstract]
Remaining carrying value	$ 2,300	$ 2,300
Remaining amortization period	9 years	9 years
Rhyz Other [Member] \| Reporting Unit 1 [Member]
Goodwill and Intangibles [Abstract]
Goodwill	$ 12,600	$ 12,600		12,600
Rhyz Other [Member] \| Reporting Unit 2 [Member]
Goodwill and Intangibles [Abstract]
Goodwill	3,700	3,700		19,600
Rhyz Other [Member] \| Reporting Unit 3 [Member]
Goodwill and Intangibles [Abstract]
Goodwill	4,700	$ 4,700		4,700
Rhyz Other [Member] \| BeautyBio Reporting Unit [Member]
Goodwill and Intangibles [Abstract]
Impairment of goodwill	$ 15,900
Accumulated impairment charges				$ 0

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

6 Months Ended

Jun. 30, 2024

Dec. 31, 2023

Jun. 14, 2022

Debt [Abstract]

Term of variable rate

30 days

Current portion of long-term debt

$ 30,000

$ 25,000

Credit Agreement [Member]

Debt [Abstract]

Unamortized debt issuance costs

1,700

2,000

Credit Agreement Term Loan Facility [Member]

Debt [Abstract]

Original principal amount

400,000

$ 400,000

Balance

^[1],[2]

$ 370,000

385,000

Interest rate

Variable 30 day: 7.44%

Interest rate

7.44%

Term of variable rate

30 days

Repayment terms

21% of the principal amount is payable in increasing quarterly installments over a five-year period that began on September 30, 2022, with the remainder payable at the end of the five-year term.

Percentage of principal payable in installments

21.00%

Term of loan

5 years

Current portion of long-term debt

$ 20,000

25,000

Credit Agreement Revolving Credit Facility [Member]

Debt [Abstract]

Balance

^[1],[2]

$ 90,000

120,000

Interest rate

Variable 30 day: 7.44%

Interest rate

7.44%

Term of variable rate

30 days

Repayment terms

Revolving line of credit expires June 14, 2027.

Term of loan

5 years

Current portion of long-term debt

$ 10,000

$ 0

[1]	The carrying value of the debt reflects the amounts stated in the above table, less debt issuance costs of $1.7 million and $2.0 million as of June 30, 2024 and December 31, 2023, respectively, related to the Credit Agreement, which are not reflected in this table.
[2]	As of June 30, 2024 and December 31, 2023, the current portion of the Company’s debt (i.e., becoming due in the next 12 months) included $20.0 million and $25.0 million, respectively, of the balance of its term loan under the Credit Agreement and $10.0 million and zero, respectively, of the balance under the revolving line of credit.

Restructuring (Tables)

6 Months Ended

Jun. 30, 2024

2022 Plan [Member]

Restructuring [Abstract]

Restructuring Expense by Segment

Restructuring expense by segment - 2022 Plan

(U.S. dollars in thousands)	Three Months Ended March 31, 2023			Year Ended December 31, 2022		Total
Nu Skin
Americas	$	918		$	1,687	$	2,605
Mainland China		1,352			13,181		14,533
Southeast Asia/Pacific		131			1,809		1,940
Japan		1,515			699		2,214
Europe & Africa		(113	)		2,143		2,030
South Korea		422			1,533		1,955
Hong Kong/Taiwan		(201	)		2,464		2,263
Total Nu Skin		4,024			23,516		27,540
Rhyz Investments
Manufacturing		13			401		414
Rhyz other		—			—		—
Total Rhyz Investments		13			401		414
Corporate and other		5,750			19,577		25,327
Total	$	9,787		$	43,494	$	53,281

2023 Plan [Member]

Restructuring [Abstract]

Restructuring Expense by Segment

Restructuring expense by segment – 2023 Plan

	Three Months Ended
(U.S. dollars in thousands)	June 30, 2024			March 31, 2024		December 31, 2023		Total
Nu Skin
Americas	$	267		$	3,145	$	598	$	4,010
Mainland China		(162	)		1,017		2,910		3,765
Southeast Asia/Pacific		190			307		862		1,359
Japan		—			24		—		24
Europe & Africa		414			677		554		1,645
South Korea		(134	)		134		—		—
Hong Kong/Taiwan		(147	)		357		432		642
Total Nu Skin		428			5,661		5,356		11,445
Rhyz Investments
Manufacturing		—			—		—		—
Rhyz other		40			—		—		40
Total Rhyz Investments		40			—		—		40
Corporate and other		7,896			1,473		4,647		14,016
Total	$	8,364		$	7,134	$	10,003	$	25,501

Fair Value and Equity Investments

6 Months Ended

Jun. 30, 2024

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; and

■

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 June 30, 2024
	Level 1		Level 2		Level 3		Total
Financial assets (liabilities):
Cash equivalents and current investments	$	33,014	$	—	$	—	$	33,014
Derivative financial instruments asset		—		10,124		—		10,124
Life insurance contracts		—		—		48,573		48,573
Contingent consideration		—		—		—		—
Total	$	33,014	$	10,124	$	48,573	$	91,711

	Fair Value at December 31, 2023
	Level 1		Level 2		Level 3			Total
Financial assets (liabilities):
Cash equivalents and current investments	$	42,916	$	—	$	—		$	42,916
Derivative financial instruments asset		—		12,689		—			12,689
Life insurance contracts		—		—		45,041			45,041
Contingent consideration		—		—		(6,300	)		(6,300	)
Total	$	42,916	$	12,689	$	38,741		$	94,346

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):

	2024		2023
Beginning balance at January 1	$	45,041	$	40,055
Actual return on plan assets		3,532		3,990
Sales and settlements		—		(483	)
Ending balance at June 30	$	48,573	$	43,562

Life insurance contracts: Accounting Standards Codification (“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):

	2024			2023
Beginning balance at January 1	$	(6,300	)	$	(6,364	)
Changes in fair value of contingent consideration		—			18
Payments		6,300			—
Ending balance at June 30	$	—		$	(6,346	)

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 at each of June 30, 2024 and December 31, 2023. During the three 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 third quarter of 2021 gain was recorded within Other income (expense), net on the Consolidated Statement of Income. The upward fair value adjustment represents a nonrecurring fair value measurement based on observable price changes and is classified as a Level 3 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

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

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-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Restructuring, 2022 Plan (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended		12 Months Ended		15 Months Ended
Restructuring, 2022 Plan (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Mar. 31, 2023
Restructuring [Abstract]
Restructuring expense	$ 149,350	$ 0		$ 156,484	$ 9,787
Rhyz Other [Member]
Restructuring [Abstract]
Impairment of other intangible assets	$ 10,100
2022 Plan [Member]
Restructuring [Abstract]
Cash restructuring charges								$ 40,800
Non-cash restructuring charges								12,500
Severance charges			$ 4,000			$ 4,000	$ 20,100
Lease termination cost			1,900			1,900	7,400
Other associated restructuring costs			2,200			2,200	5,200
Impairment of fixed assets							8,200
Accelerated depreciation			1,700			1,700	900
Impairment of other intangible assets							1,700
Cash payments						19,800	21,000
Ending restructuring accrual						$ 0	11,700
Restructuring expense			9,787				43,494	53,281
2022 Plan [Member] \| Nu Skin [Member]
Restructuring [Abstract]
Restructuring expense			4,024				23,516	27,540
2022 Plan [Member] \| Americas [Member]
Restructuring [Abstract]
Restructuring expense			918				1,687	2,605
2022 Plan [Member] \| Mainland China [Member]
Restructuring [Abstract]
Restructuring expense			1,352				13,181	14,533
2022 Plan [Member] \| Southeast Asia/Pacific [Member]
Restructuring [Abstract]
Restructuring expense			131				1,809	1,940
2022 Plan [Member] \| Japan [Member]
Restructuring [Abstract]
Restructuring expense			1,515				699	2,214
2022 Plan [Member] \| Europe & Africa [Member]
Restructuring [Abstract]
Restructuring expense			(113)				2,143	2,030
2022 Plan [Member] \| South Korea [Member]
Restructuring [Abstract]
Restructuring expense			422				1,533	1,955
2022 Plan [Member] \| Hong Kong/Taiwan [Member]
Restructuring [Abstract]
Restructuring expense			(201)				2,464	2,263
2022 Plan [Member] \| Rhyz Investments [Member]
Restructuring [Abstract]
Restructuring expense			13				401	414
2022 Plan [Member] \| Manufacturing [Member]
Restructuring [Abstract]
Restructuring expense			13				401	414
2022 Plan [Member] \| Rhyz Other [Member]
Restructuring [Abstract]
Restructuring expense			0				0	0
2022 Plan [Member] \| Corporate and Other [Member]
Restructuring [Abstract]
Restructuring expense			$ 5,750				$ 19,577	$ 25,327

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2024
Insider Trading Arrangements [Line Items]
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Fair Value and Equity Investments, Fair Value (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Fair Value and Equity Investments [Abstract]
Term of variable rate	30 days
Fair Value on a Recurring Basis [Member]
Financial Assets (Liabilities) [Abstract]
Cash equivalents and current investments	$ 33,014		$ 42,916
Derivative financial instruments asset	10,124		12,689
Life insurance contracts	48,573		45,041
Contingent consideration	0		(6,300)
Financial assets (liabilities)	91,711		94,346
Fair Value on a Recurring Basis [Member] \| Level 1 [Member]
Financial Assets (Liabilities) [Abstract]
Cash equivalents and current investments	33,014		42,916
Derivative financial instruments asset	0		0
Life insurance contracts	0		0
Contingent consideration	0		0
Financial assets (liabilities)	33,014		42,916
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	10,124		12,689
Life insurance contracts	0		0
Contingent consideration	0		0
Financial assets (liabilities)	10,124		12,689
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	48,573		45,041
Contingent consideration	0		(6,300)
Financial assets (liabilities)	48,573		$ 38,741
Contingent Consideration [Member]
Changes in Fair Value of Level 3 Contingent Consideration [Roll Forward]
Beginning balance	(6,300)	$ (6,364)
Changes in fair value of contingent consideration	0	18
Payments	6,300	0
Ending balance	0	(6,346)
Life Insurance Contracts [Member]
Changes in Fair Value of Level 3 Marketable Securities [Roll Forward]
Beginning balance	45,041	40,055
Actual return on plan assets	3,532	3,990
Sales and settlements	0	(483)
Ending balance	$ 48,573	$ 43,562

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2024
Summary of Significant Accounting Policies [Abstract]
Basis of Accounting	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.
Consolidation	The unaudited consolidated financial statements include the accounts of the Company and its Subsidiaries. All intercompany accounts and transactions are eliminated in consolidation.
Accounting Pronouncements	Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-07, Segment Reporting (Topic 280). The amendments in this ASU require disclosures, on an annual and interim basis, of significant segment expenses that are regularly provided to the chief operating decision maker (CODM), as well as the aggregate amount of other segment items included in the reported measure of segment profit or loss. This ASU requires that a public entity disclose the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss. Public entities will be required to provide all annual disclosures currently required by Topic 280 in interim periods, and entities with a single reportable segment are required to provide all the disclosures required by the amendments in the update and existing segment disclosures in Topic 280. This amendment is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, and requires retrospective adoption. Early adoption is permitted. The Company will adopt this standard with its fiscal 2024 annual filing. The Company is currently evaluating these new disclosure requirements and the impact of adoption.
Reclassifications	Reclassifications Certain prior period amounts have been reclassified to conform with current presentation. The Company reclassified $5.8 million and $10.7 million of interest expense from other income (expense), net to the interest expense line on the consolidated statement of income for the second quarter and first half of 2023, respectively. The reclassification had no impact on net income for the second quarter and first half of 2023.
Revenue Recognition	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 June 30, 2024 and December 31, 2023 was $11.8 million and $12.6 million, respectively. The contract liabilities impact to revenue for the three-month periods ended June 30, 2024 and 2023 was an increase of $0.1 million and an increase of $4.7 million, respectively. The impact to revenue for the six-month periods ended June 30, 2024, and 2023 was an increase of $0.8 million and an increase of $6.0 million, respectively.

- Definition

Disclosure of accounting policy for revenue from contract with customer.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-17

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 19
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-19

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-18

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Section 50
-Paragraph 18
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-18

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-20

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Section 50
-Paragraph 20
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-20

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-20

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483426/235-10-50-4

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

Restructuring, 2023 Plan (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended		18 Months Ended
Restructuring, 2023 Plan (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024
Restructuring [Abstract]
Restructuring expense	$ 149,350			$ 0	$ 156,484	$ 9,787
2023 Plan [Member]
Restructuring [Abstract]
Estimated charges under restructuring program	20,000				20,000		$ 20,000
Severance charges	1,000	$ 4,100	$ 10,000
Other associated restructuring costs	100	2,000
Non-cash restructuring charges	7,200
Impairment of fixed assets	6,400	1,000
Other asset write-downs	800
Cash payments	2,800	7,000	300
Ending restructuring accrual	7,100	8,800	9,700		7,100		7,100
Restructuring expense	8,364	7,134	10,003				25,501
2023 Plan [Member] \| Nu Skin [Member]
Restructuring [Abstract]
Restructuring expense	428	5,661	5,356				11,445
2023 Plan [Member] \| Americas [Member]
Restructuring [Abstract]
Restructuring expense	267	3,145	598				4,010
2023 Plan [Member] \| Mainland China [Member]
Restructuring [Abstract]
Restructuring expense	(162)	1,017	2,910				3,765
2023 Plan [Member] \| Southeast Asia/Pacific [Member]
Restructuring [Abstract]
Restructuring expense	190	307	862				1,359
2023 Plan [Member] \| Japan [Member]
Restructuring [Abstract]
Restructuring expense	0	24	0				24
2023 Plan [Member] \| Europe & Africa [Member]
Restructuring [Abstract]
Restructuring expense	414	677	554				1,645
2023 Plan [Member] \| South Korea [Member]
Restructuring [Abstract]
Restructuring expense	(134)	134	0				0
2023 Plan [Member] \| Hong Kong/Taiwan [Member]
Restructuring [Abstract]
Restructuring expense	(147)	357	432				642
2023 Plan [Member] \| Rhyz Investments [Member]
Restructuring [Abstract]
Restructuring expense	40	0	0				40
2023 Plan [Member] \| Manufacturing [Member]
Restructuring [Abstract]
Restructuring expense	0	0	0				0
2023 Plan [Member] \| Rhyz Other [Member]
Restructuring [Abstract]
Restructuring expense	40	0	0				40
2023 Plan [Member] \| Corporate and Other [Member]
Restructuring [Abstract]
Restructuring expense	7,896	$ 1,473	$ 4,647				14,016
2023 Plan [Member] \| Other Cash Charges [Member]
Restructuring [Abstract]
Estimated charges under restructuring program	2,200				2,200		2,200
2023 Plan [Member] \| Non-Cash Charges [Member]
Restructuring [Abstract]
Estimated charges under restructuring program	8,200				$ 8,200		$ 8,200
2023 Plan [Member] \| Fixed Asset Impairments [Member]
Restructuring [Abstract]
Impairment of fixed assets	$ 6,400

Debt, Credit Agreement (Details) - USD ($) $ in Millions	6 Months Ended
Debt, Credit Agreement (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 14, 2022
Credit Agreement [Member]
Debt [Abstract]
Percentage of capital stock of certain foreign subsidiaries pledged as collateral	65.00%
Credit Agreement [Member] \| Minimum [Member]
Debt [Abstract]
Commitment fee percentage payable on unused portion	0.175%
Consolidated interest coverage ratio	3
Credit Agreement [Member] \| Maximum [Member]
Debt [Abstract]
Commitment fee percentage payable on unused portion	0.30%
Consolidated leverage ratio	2.75
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	2.50%
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	5.00%
Term Loan Facility [Member] \| Fourth Year [Member]
Debt [Abstract]
Annual amortization percentage	5.00%
Term Loan Facility [Member] \| Fifth Year [Member]
Debt [Abstract]
Annual amortization percentage	5.00%
Revolving Credit Facility [Member]
Debt [Abstract]
Borrowing capacity		$ 500.0
Term of loan	5 years

Debt

6 Months Ended

Jun. 30, 2024

Debt [Abstract]

Debt

Credit Agreement

On June 14, 2022, the Company entered into an Amended and Restated Credit Agreement (the “Credit Agreement”) with several financial institutions as lenders and Bank of America, N.A., as administrative agent, which amended and restated the 2018 Credit Agreement. The Credit Agreement provides for a $400 million term loan facility and a $500 million revolving credit facility, each with a term of five years. Both facilities bear interest at the SOFR, plus a margin based on the Company’s consolidated leverage ratio. Commitment fees payable under the Credit Agreement are also based on the consolidated leverage ratio as defined in the Credit Agreement and range from 0.175% to 0.30% on the unused portion of the total lender commitments then in effect. The term loan facility amortizes in quarterly installments in amounts resulting in an annual amortization of 2.5% during the first year and 5.0% during the second, third, fourth and fifth years after the closing date of the Credit Agreement, with the remainder payable at final maturity. The Credit Agreement is guaranteed by certain of the Company’s domestic subsidiaries and collateralized by assets of such subsidiaries, including a pledge of 65% of the capital stock of certain foreign subsidiaries. The Credit Agreement requires the Company to maintain a consolidated leverage ratio not exceeding 2.75 to 1.00 and a consolidated interest coverage ratio of no less than 3.00 to 1.00. As of June 30, 2024, the Company was in compliance with all covenants under the Credit Agreement.

The following table summarizes the Company’s debt facilities as of June 30, 2024 and December 31, 2023:

Facility or Arrangement	Original Principal Amount	Balance as of June 30, 2024⁽¹⁾⁽²⁾	Balance as of December 31, 2023⁽¹⁾⁽²⁾	Interest Rate	Repayment Terms
Credit Agreement term loan facility	$400.0 million	$370.0 million	$385.0 million	Variable 30 day: 7.44%	21% of the principal amount is payable in increasing quarterly installments over a five-year period that began on September 30, 2022, with the remainder payable at the end of the five-year term.
Credit Agreement revolving credit facility		$90.0 million	$120.0 million	Variable 30 day: 7.44%	Revolving line of credit expires June 14, 2027.

(1)

(2)	The carrying value of the debt reflects the amounts stated in the above table, less debt issuance costs of $1.7 million and $2.0 million as of June 30, 2024 and December 31, 2023, respectively, related to the Credit Agreement, which are not reflected in this table.

Summary of Significant Accounting Policies, Revenue Recognition (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Contract Liabilities - Customer Loyalty Programs [Abstract]
Contract liabilities for customer loyalty programs	$ 11.8		$ 11.8		$ 12.6
Contract liabilities, increase to revenue	$ 0.1	$ 4.7	$ 0.8	$ 6.0

Summary of Significant Accounting Policies, Inventory (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Inventories [Abstract]
Raw materials	$ 129,506		$ 129,506		$ 140,133
Finished goods	114,488		114,488		139,845
Total Inventory, net	243,994		243,994		$ 279,978
Valuation Allowance [Roll Forward]
Beginning balance	80,519	$ 36,016	83,378	$ 37,267
Additions	1,517	11,812	3,520	15,079
Write-offs	(11,753)	(6,811)	(16,615)	(11,329)
Ending balance	$ 70,283	$ 41,017	$ 70,283	$ 41,017

Derivatives and Hedging Activities, Fair Value of Derivative Instruments on the Balance Sheet (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($) Derivatives	Dec. 31, 2023 USD ($) Derivatives
Derivatives and Hedging Activities [Abstract]
Loss to be reclassified to interest expense during next twelve months	$ (9,400)
Number of outstanding derivatives held \| Derivatives	4	4
Notional amount	$ 200,000	$ 200,000
Interest Rate Swaps [Member] \| Designated as Hedging Instrument [Member] \| Prepaid Expenses and Other [Member]
Derivatives and Hedging Activities [Abstract]
Fair value, asset	9,443	8,955
Interest Rate Swaps [Member] \| Designated as Hedging Instrument [Member] \| Other Assets [Member]
Derivatives and Hedging Activities [Abstract]
Fair value, asset	$ 681	$ 3,734

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares shares in Millions	Jun. 30, 2024	Dec. 31, 2023
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)	40.9	41.1

Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Other comprehensive loss, net of tax:
Foreign currency translation adjustment, tax	$ 0	$ 0	$ 0	$ (68)
Net unrealized gains/(losses) on foreign currency cash flow hedges, tax	(152)	(837)	(587)	(662)
Reclassification adjustment for realized losses/(gains) in current earnings on cash flow hedges, tax	$ 570	$ 533	$ 1,142	$ 1,008

Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2024

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 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 June 30, 2024, and for the three- and six-month periods ended June 30, 2024 and 2023. 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, 2023 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, 2023.

Accounting Pronouncements

In November 2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-07, Segment Reporting (Topic 280). The amendments in this ASU require disclosures, on an annual and interim basis, of significant segment expenses that are regularly provided to the chief operating decision maker (CODM), as well as the aggregate amount of other segment items included in the reported measure of segment profit or loss. This ASU requires that a public entity disclose the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss. Public entities will be required to provide all annual disclosures currently required by Topic 280 in interim periods, and entities with a single reportable segment are required to provide all the disclosures required by the amendments in the update and existing segment disclosures in Topic 280. This amendment is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, and requires retrospective adoption. Early adoption is permitted. The Company will adopt this standard with its fiscal 2024 annual filing. The Company is currently evaluating these new disclosure requirements and the impact of adoption.

Reclassifications

Certain prior period amounts have been reclassified to conform with current presentation. The Company reclassified $5.8 million and $10.7 million of interest expense from other income (expense), net to the interest expense line on the consolidated statement of income for the second quarter and first half of 2023, respectively. The reclassification had no impact on net income for the second quarter and first half of 2023.

Inventory

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

	June 30, 2024		December 31, 2023
Raw materials	$	129,506	$	140,133
Finished goods		114,488		139,845
Total Inventory, net	$	243,994	$	279,978

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

	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Beginning balance	$	80,519		$	36,016		$	83,378		$	37,267
Additions		1,517			11,812			3,520			15,079
Write-offs		(11,753	)		(6,811	)		(16,615	)		(11,329	)
Ending Balance	$	70,283		$	41,017		$	70,283		$	41,017

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 June 30, 2024 and December 31, 2023 was $11.8 million and $12.6 million, respectively. The contract liabilities impact to revenue for the three-month periods ended June 30, 2024 and 2023 was an increase of $0.1 million and an increase of $4.7 million, respectively. The impact to revenue for the six-month periods ended June 30, 2024, and 2023 was an increase of $0.8 million and an increase of $6.0 million, respectively.

Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2024

Summary of Significant Accounting Policies [Abstract]

Inventories

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

	June 30, 2024		December 31, 2023
Raw materials	$	129,506	$	140,133
Finished goods		114,488		139,845
Total Inventory, net	$	243,994	$	279,978

Inventory Reserves

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

	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
Beginning balance	$	80,519		$	36,016		$	83,378		$	37,267
Additions		1,517			11,812			3,520			15,079
Write-offs		(11,753	)		(6,811	)		(16,615	)		(11,329	)
Ending Balance	$	70,283		$	41,017		$	70,283		$	41,017

The Company (Details)	6 Months Ended
The Company (Details)	Jun. 30, 2024 Segment
The Company [Abstract]
Number of reportable segments	9
Number of geographic segments	7
Number of Rhyz segments	2

Capital Stock, Dividends (Details) - USD ($) $ / shares in Units, $ in Thousands				3 Months Ended		6 Months Ended
	Aug. 08, 2024	Jun. 12, 2024	Mar. 06, 2024	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2024	Jun. 30, 2023
Dividends per Share [Abstract]
Payment of cash dividends						$ 5,961	$ 38,867
Q1-2024 Quarterly Dividend [Member]
Dividends per Share [Abstract]
Dividend payable, date declared				2024-02		2024-02
Dividend payable per share (in dollars per share)					$ 0.06
Payment of cash dividends			$ 3,000
Dividend payable, date paid						Mar. 06, 2024
Dividend payable, date of record						Feb. 26, 2024
Q2-2024 Quarterly Dividend [Member]
Dividends per Share [Abstract]
Dividend payable, date declared				2024-05		2024-05
Dividend payable per share (in dollars per share)				$ 0.06
Payment of cash dividends		$ 3,000
Dividend payable, date paid						Jun. 12, 2024
Dividend payable, date of record						May 31, 2024
Q3-2024 Quarterly Dividend [Member] \| Subsequent Event [Member]
Dividends per Share [Abstract]
Dividend payable, date declared	2024-08
Dividend payable per share (in dollars per share)	$ 0.06
Dividend payable, date paid	Sep. 11, 2024
Dividend payable, date of record	Aug. 30, 2024

Capital Stock

6 Months Ended

Jun. 30, 2024

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 June 30, 2024 and 2023, stock options of 1.7 million and 0.2 million, respectively, and for the six-month periods ended June 30, 2024 and 2023, stock options of 1.7 million and 0.2 million, respectively, were excluded from the calculation of diluted earnings per share because they were anti-dilutive.

Dividends

In February and May 2024, the Company’s board of directors declared quarterly cash dividends of $0.06 per share. These quarterly cash dividends of $3.0 million and $3.0 million were paid on March 6, 2024 and June 12, 2024, respectively, to stockholders of record on February 26, 2024 and May 31, 2024, respectively. In August 2024, the Company’s board of directors declared a quarterly cash dividend of $0.06 per share to be paid on September 11, 2024 to stockholders of record on August 30, 2024.

Repurchase of common stock

During the three- and six-month periods ended June 30, 2024, the Company repurchased zero shares of its Class A common stock under its stock repurchase plan. As of June 30, 2024, $162.4 million was available for repurchases under the Company’s stock repurchase plan.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Acquisitions

6 Months Ended

Jun. 30, 2024

Acquisitions [Abstract]

Acquisitions

12.	Acquisitions

In April 2023, the Company acquired 60 percent of LifeDNA, Inc. (“LifeDNA”), a DNA assessment company. Consideration paid included $4.0 million of cash, along with the conversion of a previous $3.0 million Simple Agreement for Future Equity (“SAFE”), and a $0.2 million convertible note. The acquisition enables the Company to continue to expand its digital tools. The Company allocated the fair value of $12.0 million to the assets acquired and liabilities assumed at estimated fair values. The estimated fair value of assets acquired included $7.3 million of intangible assets, $1.7 million of cash, $0.1 million of current assets, $0.9 million of accrued liabilities and also resulted in a deferred tax liability of $0.9 million. The excess purchase price over the aggregate fair value of assets acquired less liabilities assumed of $4.7 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 comprised $0.6 million of customer relationships, $1.7 million of technology, $1.0 million of tradenames and $4.1 million of other intangibles. The intangibles were assigned useful lives of 7 years for the technology, tradenames and other intangibles, and 2 years for the customer relationships. All the goodwill was assigned to our Rhyz Other segment. The numbers above are stated net of measurement period adjustments recorded during the fourth quarter of 2023 of $1.1 million to deferred tax liability and goodwill. The allocation of the fair value of assets acquired and liabilities assumed for the acquisition was finalized during the three months ended December 31, 2023.

In June 2023, the Company acquired 100 percent ownership in Beauty Biosciences, LLC (“BeautyBio”), making BeautyBio a wholly owned subsidiary of the Company. The acquisition expands the Company’s product and device offerings within its Rhyz segment. The purchase price for BeautyBio was $75.0 million, net of cash acquired of $1.5 million, all payable in cash. The Company allocated the gross purchase price of $76.5 million to the assets acquired and liabilities assumed at estimated fair values. The estimated fair value of assets acquired included $43.0 million of intangible assets, $1.5 million of cash, $3.5 million of accounts receivable, $10.3 million of inventory, $0.8 million of prepaid and other assets, $1.0 million of fixed assets, $1.2 million of an ROU operating lease asset and corresponding lease liability, $2.5 million of accounts payable and accrued liabilities and also resulted in a deferred tax liability of $0.7 million. The excess purchase price over the aggregate fair value of assets acquired less liabilities assumed of $19.6 million was recorded as goodwill. The goodwill recognized was attributable primarily to expected synergies. None of the goodwill is expected to be deductible for income tax purposes. The intangible assets acquired comprised $18.4 million of customer relationships, $2.3 million of technology, $20.9 million of tradenames and $1.4 million of other intangibles. The intangibles were assigned useful lives of approximately 19 years for the technology and tradenames, approximately 9 years for the customer relationships and 3 years for the other intangibles. All the goodwill was assigned to our Rhyz Other segment. The numbers above are stated net of measurement period adjustments recorded during the fourth quarter of 2023 of $(1.2) million to accounts receivable, $(0.7) million of inventory, $(0.5) million of accrued liabilities, $0.7 million of deferred tax liability, $(0.3) of intangible assets and $2.4 million of goodwill. The allocation of the fair value of assets acquired and liabilities assumed for the acquisition was finalized during the three months ended March 31, 2024.

The financial results of LifeDNA and BeautyBio are included in the Rhyz other segment from the date of acquisition. For the three and six months ended June 30, 2024, the Company included $4.4 million and $9.6 million, respectively, of revenue from these acquisitions. The unaudited pro forma revenue for the Company, including LifeDNA and BeautyBio, as if the acquisitions occurred on January 1, 2023, would have been $504.1 million and $990.0 million for the three and six months ended June 30, 2023, respectively.

Segment Information, Depreciation and Amortization and Capital Expenditures (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Summarized Financial Information [Abstract]
Depreciation and amortization	$ 17,603	$ 17,164	$ 36,040	$ 34,147
Capital expenditures	8,123	14,712	20,404	26,199
Operating Segment [Member] \| Nu Skin [Member]
Summarized Financial Information [Abstract]
Depreciation and amortization	3,917	4,484	8,223	9,847
Capital expenditures	1,784	5,462	4,886	10,199
Operating Segment [Member] \| Americas [Member]
Summarized Financial Information [Abstract]
Depreciation and amortization	93	126	198	192
Capital expenditures	12	91	33	191
Operating Segment [Member] \| Mainland China [Member]
Summarized Financial Information [Abstract]
Depreciation and amortization	2,726	2,610	5,500	5,385
Capital expenditures	1,578	4,734	4,267	8,769
Operating Segment [Member] \| Southeast Asia/Pacific [Member]
Summarized Financial Information [Abstract]
Depreciation and amortization	174	276	423	556
Capital expenditures	9	127	18	191
Operating Segment [Member] \| Japan [Member]
Summarized Financial Information [Abstract]
Depreciation and amortization	71	94	152	1,148
Capital expenditures	23	(2)	21	3
Operating Segment [Member] \| South Korea [Member]
Summarized Financial Information [Abstract]
Depreciation and amortization	261	299	506	752
Capital expenditures	0	7	22	161
Operating Segment [Member] \| Europe & Africa [Member]
Summarized Financial Information [Abstract]
Depreciation and amortization	274	257	547	539
Capital expenditures	124	157	289	276
Operating Segment [Member] \| Hong Kong/Taiwan [Member]
Summarized Financial Information [Abstract]
Depreciation and amortization	318	822	897	1,275
Capital expenditures	38	348	236	608
Operating Segment [Member] \| Rhyz Investments [Member]
Summarized Financial Information [Abstract]
Depreciation and amortization	5,398	4,505	10,619	8,521
Capital expenditures	1,549	4,216	3,533	5,697
Operating Segment [Member] \| Manufacturing [Member]
Summarized Financial Information [Abstract]
Depreciation and amortization	3,432	3,329	6,767	6,753
Capital expenditures	1,115	4,216	2,464	5,697
Operating Segment [Member] \| Rhyz Other [Member]
Summarized Financial Information [Abstract]
Depreciation and amortization	1,966	1,176	3,852	1,768
Capital expenditures	434	0	1,069	0
Corporate and Other [Member]
Summarized Financial Information [Abstract]
Depreciation and amortization	8,288	8,175	17,198	15,779
Capital expenditures	$ 4,790	$ 5,034	$ 11,985	$ 10,303

Segment Information (Tables)

6 Months Ended

Jun. 30, 2024

Segment Information [Abstract]

Revenue by Segment

	Three Months Ended June 30,					Six Months Ended June 30,
(U.S. dollars in thousands)	2024			2023		2024		2023
Nu Skin
Americas	$	84,935		$	107,641	$	159,966	$	208,798
Mainland China		64,710			88,362		125,777		156,338
Southeast Asia/Pacific		60,341			63,764		120,406		131,574
Japan		42,587			50,862		86,823		103,468
South Korea		44,119			53,686		85,082		124,010
Europe & Africa		40,714			46,968		82,987		94,412
Hong Kong/Taiwan		33,846			37,108		64,312		71,656
Nu Skin other		(4	)		597		668		482
Total Nu Skin		371,248			448,988		726,021		890,738
Rhyz Investments
Manufacturing ⁽¹⁾		51,473			45,551		101,775		81,318
Rhyz other		16,360			5,718		28,591		9,663
Total Rhyz Investments		67,833			51,269		130,366		90,981
Total	$	439,081		$	500,257	$	856,387	$	981,719

(1)

Segment Contribution

	Three Months Ended June 30,						Six Months Ended June 30,
(U.S. dollars in thousands)	2024			2023			2024			2023
Nu Skin
Americas	$	17,379		$	28,853		$	32,355		$	45,103
Mainland China		13,373			19,357			25,626			32,969
Southeast Asia/Pacific		10,706			11,396			21,790			23,867
Japan		11,704			12,508			23,710			25,416
South Korea		13,323			17,391			25,506			40,966
Europe & Africa		5,405			4,945			8,681			8,583
Hong Kong/Taiwan		8,414			10,148			15,781			17,982
Nu Skin contribution		80,304			104,598			153,449			194,886
Rhyz Investments
Manufacturing		1,757			4,218			3,724			2,845
Rhyz other		(5,473	)		(3,392	)		(11,415	)		(5,352	)
Rhyz Investments contribution		(3,716	)		826			(7,691	)		(2,507	)
Total segment contribution		76,588			105,424			145,758			192,379
Corporate and other		(202,145	)		(62,918	)		(262,493	)		(133,809	)
Operating income		(125,557	)		42,506			(116,735	)		58,570
Interest expense		6,720			5,769			14,045			10,657
Other income, net		629			376			233			3,788
Income (loss) before provision for income taxes	$	(131,648	)	$	37,113		$	(130,547	)	$	51,701

Depreciation and Amortization and Capital Expenditures

Depreciation and Amortization

	Three Months Ended June 30,				Six Months Ended June 30,
(U.S. dollars in thousands)	2024		2023		2024		2023
Nu Skin
Americas	$	93	$	126	$	198	$	192
Mainland China		2,726		2,610		5,500		5,385
Southeast Asia/Pacific		174		276		423		556
Japan		71		94		152		1,148
South Korea		261		299		506		752
Europe & Africa		274		257		547		539
Hong Kong/Taiwan		318		822		897		1,275
Total Nu Skin		3,917		4,484		8,223		9,847
Rhyz Investments
Manufacturing		3,432		3,329		6,767		6,753
Rhyz other		1,966		1,176		3,852		1,768
Total Rhyz Investments		5,398		4,505		10,619		8,521
Corporate and other		8,288		8,175		17,198		15,779
Total	$	17,603	$	17,164	$	36,040	$	34,147

Capital Expenditures

	Three Months Ended June 30,					Six Months Ended June 30,
(U.S. dollars in thousands)	2024		2023			2024		2023
Nu Skin
Americas	$	12	$	91		$	33	$	191
Mainland China		1,578		4,734			4,267		8,769
Southeast Asia/Pacific		9		127			18		191
Japan		23		(2	)		21		3
South Korea		—		7			22		161
Europe & Africa		124		157			289		276
Hong Kong/Taiwan		38		348			236		608
Total Nu Skin		1,784		5,462			4,886		10,199
Rhyz Investments
Manufacturing		1,115		4,216			2,464		5,697
Rhyz other		434		—			1,069		—
Total Rhyz Investments		1,549		4,216			3,533		5,697
Corporate and other		4,790		5,034			11,985		10,303
Total	$	8,123	$	14,712		$	20,404	$	26,199

Capital Stock, Repurchase of Common Stock (Details) shares in Millions, $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2024 USD ($) shares	Jun. 30, 2024 USD ($) shares
Repurchases of Common Stock [Abstract]
Amount available for repurchases \| $	$ 162.4	$ 162.4
Treasury Stock [Member]
Repurchases of Common Stock [Abstract]
Class A common stock repurchased (in shares) \| shares	0	0

Fair Value and Equity Investments (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value and Equity Investments [Abstract]

Assets and 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 June 30, 2024
	Level 1		Level 2		Level 3		Total
Financial assets (liabilities):
Cash equivalents and current investments	$	33,014	$	—	$	—	$	33,014
Derivative financial instruments asset		—		10,124		—		10,124
Life insurance contracts		—		—		48,573		48,573
Contingent consideration		—		—		—		—
Total	$	33,014	$	10,124	$	48,573	$	91,711

	Fair Value at December 31, 2023
	Level 1		Level 2		Level 3			Total
Financial assets (liabilities):
Cash equivalents and current investments	$	42,916	$	—	$	—		$	42,916
Derivative financial instruments asset		—		12,689		—			12,689
Life insurance contracts		—		—		45,041			45,041
Contingent consideration		—		—		(6,300	)		(6,300	)
Total	$	42,916	$	12,689	$	38,741		$	94,346

Changes in Fair Value of Level 3 Life Insurance Contracts

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):

	2024		2023
Beginning balance at January 1	$	45,041	$	40,055
Actual return on plan assets		3,532		3,990
Sales and settlements		—		(483	)
Ending balance at June 30	$	48,573	$	43,562

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):

	2024			2023
Beginning balance at January 1	$	(6,300	)	$	(6,364	)
Changes in fair value of contingent consideration		—			18
Payments		6,300			—
Ending balance at June 30	$	—		$	(6,346	)

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References + Details

Consolidated Statements of Stockholders' Equity (Unaudited) (Parenthetical) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Stockholders' Equity [Roll Forward]
Exercise of employee stock options (in shares)	0.1	0.1	0.3	0.5

Summary of Significant Accounting Policies, Reclassifications (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Interest Expense [Abstract]
Interest expense	$ 6,720	$ 5,769	$ 14,045	$ 10,657
Reclassification [Member] \| Other Income (Expense), Net [Member]
Interest Expense [Abstract]
Interest expense		(5,800)		(10,700)
Reclassification [Member] \| Interest Expense [Member]
Interest Expense [Abstract]
Interest expense		$ 5,800		$ 10,700

- Definition

Amount of interest expense classified as operating and nonoperating. Includes, but is not limited to, cost of borrowing accounted for as interest expense.

+ References + Details

Income Taxes

6 Months Ended

Jun. 30, 2024

Income Taxes [Abstract]

Income Taxes

8.	Income Taxes

Provision (benefit) for income taxes for the three- and six-month periods ended June 30, 2024 was $(13.4) million and $(11.8) million, compared to $10.2 million and $13.4 million for the prior-year periods. The effective tax rates for the three- and six-month periods ended June 30, 2024, were 10.2% and 9.0% of pre-tax income compared to 27.5% and 26.0% in the prior-year periods. The decrease in effective tax rate for the second quarter and first six months of 2024 primarily reflects the impact of the second quarter 2024 goodwill impairment.

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 $108.3 million and $105.0 million as of June 30, 2024 and December 31, 2023, 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, 2023. If the amount designated as indefinitely reinvested as of December 31, 2023 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. 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. As of December 31, 2023, tax years through 2020 and 2022 have been audited and are effectively closed to further examination. For tax year 2021, the Company was in the Bridge phase of the CAP program, pursuant to which the IRS will not accept disclosures, will not conduct reviews and will not provide letters of assurance for the Bridge years. There are limited circumstances that tax years in the Bridge phase will be opened for examination. For tax years 2023 and 2024, the Company has been accepted in the IRS’s Bridge Plus program. The Company may elect to continue participating in CAP for future tax years; the Company may withdraw from the program at any time. With a few exceptions, the Company is no longer subject to state and local income tax examination by tax authorities for the years before 2020. Foreign jurisdictions have varying lengths of statutes of limitations for income tax examinations. Some statutes are as short as three years and in certain markets 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 $2.0 to $3.0 million.

In 2021, as part of the Organization for Economic Co-operation and Development’s (“OECD”) Inclusive Framework, 140 member countries agreed to the implementation of the Pillar Two Global Minimum Tax (“Pillar Two”) of 15%. The OECD continues to release additional guidance, including administrative guidance on how Pillar Two rules should be interpreted and applied by jurisdictions as they adopt Pillar Two. A number of countries have utilized the administrative guidance as a starting point for legislation that went into effect January 1, 2024. Based on current enacted legislation, the Company anticipates the impact of Pillar Two to be immaterial for 2024.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
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-Section 55
-Paragraph 231
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
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-Paragraph 12C
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

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-Subparagraph (SAB Topic 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/740/tableOfContent

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Derivatives and Hedging Activities, Effect of Cash Flow Hedge Accounting on Accumulated Other Comprehensive Loss (Details) - Interest Rate Swaps [Member] - Designated as Hedging Instrument [Member] - Cash Flow Hedges [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Other Expense, Net [Member]
Derivatives and Hedging Activities [Abstract]
Gain reclassified from accumulated other comprehensive loss into income	$ 2,636	$ 2,466	$ 5,279	$ 4,663
Other Comprehensive Loss [Member]
Derivatives and Hedging Activities [Abstract]
Gain recognized in Other comprehensive loss	$ 705	$ 3,868	$ 2,714	$ 3,058

Leases (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
Weighted-average remaining lease term for operating leases	7 years		7 years
Weighted-average remaining lease term for finance leases	3 years 3 months 18 days		3 years 3 months 18 days
Weighted-average discount rate for operating leases	3.70%		3.70%
Weighted-average discount rate for finance leases	3.70%		3.70%
Operating Lease Expense [Abstract]
Operating lease cost	$ 5,873	$ 8,022	$ 11,939	$ 16,183
Variable lease cost	964	412	2,740	1,487
Finance Lease Expense [Abstract]
Amortization of right-of-use assets	725	1,603	1,483	2,603
Interest on lease liabilities	94	123	203	257
Total lease expense	7,656	$ 10,160	16,365	20,530
Supplemental Cash Flow Information Related to Leases [Abstract]
Operating cash outflow from operating leases			12,515	15,310
Operating cash outflow from finance leases			204	260
Financing cash outflow from finance leases			1,560	1,546
Right-of-use assets obtained in exchange for operating lease obligations			14,595	14,052
Right-of-use assets obtained in exchange for finance lease obligations			10	$ 576
Maturities of Operating Lease Liabilities [Abstract]
2024	12,332		12,332
2025	20,230		20,230
2026	15,540		15,540
2027	11,810		11,810
2028	8,738		8,738
Thereafter	32,402		32,402
Total	101,052		101,052
Less: Finance charges	10,731		10,731
Total principal liability	90,321		90,321
Maturities of Financing Lease Liabilities [Abstract]
2024	1,569		1,569
2025	2,891		2,891
2026	2,884		2,884
2027	2,811		2,811
2028	60		60
Thereafter	0		0
Total	10,215		10,215
Less: Finance charges	643		643
Total principal liability	$ 9,572		$ 9,572

Leases (Tables)

6 Months Ended

Jun. 30, 2024

Leases [Abstract]

Components of Lease Expense

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

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Operating lease expense
Operating lease cost	$	5,873	$	8,022	$	11,939	$	16,183
Variable lease cost		964		412		2,740		1,487
Finance lease expense
Amortization of right-of-use assets		725		1,603		1,483		2,603
Interest on lease liabilities		94		123		203		257
Total lease expense	$	7,656	$	10,160	$	16,365	$	20,530

Supplemental Cash Flow Information Related to Leases

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

	Six Months Ended June 30,
	2024		2023
Operating cash outflow from operating leases	$	12,515	$	15,310
Operating cash outflow from finance leases	$	204	$	260
Financing cash outflow from finance leases	$	1,560	$	1,546
Right-of-use assets obtained in exchange for operating lease obligations	$	14,595	$	14,052
Right-of-use assets obtained in exchange for finance lease obligations	$	10	$	576

Maturities of Lease Liabilities

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

Year Ending December 31	Operating Leases		Finance Leases
2024	$	12,332	$	1,569
2025		20,230		2,891
2026		15,540		2,884
2027		11,810		2,811
2028		8,738		60
Thereafter		32,402		—
Total		101,052		10,215
Less: Finance charges		10,731		643
Total principal liability	$	90,321	$	9,572

Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Consolidated Statements of Income [Abstract]
Revenue	$ 439,081	$ 500,257	$ 856,387	$ 981,719
Cost of sales	131,904	135,542	255,146	269,130
Gross profit	307,177	364,715	601,241	712,589
Operating expenses:
Selling expenses	165,463	185,165	319,005	373,289
General and administrative expenses	117,921	137,044	242,487	270,943
Restructuring and impairment expenses	149,350	0	156,484	9,787
Total operating expenses	432,734	322,209	717,976	654,019
Operating income (loss)	(125,557)	42,506	(116,735)	58,570
Interest expense	6,720	5,769	14,045	10,657
Other income, net	629	376	233	3,788
Income (loss) before provision for income taxes	(131,648)	37,113	(130,547)	51,701
Provision (benefit) for income taxes	(13,390)	10,221	(11,756)	13,433
Net income (loss)	$ (118,258)	$ 26,892	$ (118,791)	$ 38,268
Net income (loss) per share (Note 6):
Basic (in dollars per share)	$ (2.38)	$ 0.54	$ (2.39)	$ 0.77
Diluted (in dollars per share)	$ (2.38)	$ 0.54	$ (2.39)	$ 0.76
Weighted-average common shares outstanding:
Basic (in shares)	49,688	49,931	49,613	49,789
Diluted (in shares)	49,688	50,161	49,613	50,098

Fair Value and Equity Investments, Equity Investments (Details) - Equity Securities [Member] - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2021	Jun. 30, 2024	Dec. 31, 2023
Equity Investments [Abstract]
Carrying amount of equity securities without readily determinable fair values		$ 28.1	$ 28.1
Other Income (Expense), Net [Member]
Equity Investments [Abstract]
Upward fair value adjustments on equity securities	$ 18.1

Acquisitions, BeautyBio (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	6 Months Ended
Acquisitions, BeautyBio (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Acquisitions [Abstract]
Purchase price, net of cash acquired			$ 0	$ 77,275
Fair Value of Assets Acquired [Abstract]
Goodwill		$ 230,768	$ 99,885
BeautyBio [Member]
Acquisitions [Abstract]
Percentage interest acquired	100.00%			100.00%
Purchase price, net of cash acquired	$ 75,000
Cash acquired	1,500
Gross purchase price	76,500			$ 76,500
Fair Value of Assets Acquired [Abstract]
Intangible assets	43,000			43,000
Cash	1,500			1,500
Accounts receivable	3,500			3,500
Inventory	10,300			10,300
Prepaid and other assets	800			800
Fixed assets	1,000			1,000
ROU operating lease asset	1,200			1,200
Lease liability	1,200			1,200
Accounts payable and accrued liabilities	2,500			2,500
Deferred tax liability	700			700
Goodwill	19,600			19,600
Measurement period adjustment to accounts receivable		(1,200)
Measurement period adjustment to inventory		(700)
Measurement period adjustment to accrued liabilities		(500)
Measurement period adjustment to deferred tax liability		700
Measurement period adjustment to intangible assets		(300)
Measurement period adjustment to goodwill		$ 2,400
BeautyBio [Member] \| Customer Relationships [Member]
Fair Value of Assets Acquired [Abstract]
Intangible assets	18,400			18,400
Useful life			9 years
BeautyBio [Member] \| Technology [Member]
Fair Value of Assets Acquired [Abstract]
Intangible assets	2,300			2,300
Useful life			19 years
BeautyBio [Member] \| Tradenames [Member]
Fair Value of Assets Acquired [Abstract]
Intangible assets	20,900			20,900
Useful life			19 years
BeautyBio [Member] \| Other Intangibles [Member]
Fair Value of Assets Acquired [Abstract]
Intangible assets	$ 1,400			$ 1,400
Useful life			3 years

Segment Information, Segment Contribution (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Contribution [Abstract]
Operating income	$ (125,557)	$ 42,506	$ (116,735)	$ 58,570
Interest expense	6,720	5,769	14,045	10,657
Other income, net	629	376	233	3,788
Income (loss) before provision for income taxes	(131,648)	37,113	(130,547)	51,701
Operating Segment [Member]
Segment Contribution [Abstract]
Operating income	76,588	105,424	145,758	192,379
Operating Segment [Member] \| Nu Skin [Member]
Segment Contribution [Abstract]
Operating income	80,304	104,598	153,449	194,886
Operating Segment [Member] \| Americas [Member]
Segment Contribution [Abstract]
Operating income	17,379	28,853	32,355	45,103
Operating Segment [Member] \| Mainland China [Member]
Segment Contribution [Abstract]
Operating income	13,373	19,357	25,626	32,969
Operating Segment [Member] \| Southeast Asia/Pacific [Member]
Segment Contribution [Abstract]
Operating income	10,706	11,396	21,790	23,867
Operating Segment [Member] \| Japan [Member]
Segment Contribution [Abstract]
Operating income	11,704	12,508	23,710	25,416
Operating Segment [Member] \| South Korea [Member]
Segment Contribution [Abstract]
Operating income	13,323	17,391	25,506	40,966
Operating Segment [Member] \| Europe & Africa [Member]
Segment Contribution [Abstract]
Operating income	5,405	4,945	8,681	8,583
Operating Segment [Member] \| Hong Kong/Taiwan [Member]
Segment Contribution [Abstract]
Operating income	8,414	10,148	15,781	17,982
Operating Segment [Member] \| Rhyz Investments [Member]
Segment Contribution [Abstract]
Operating income	(3,716)	826	(7,691)	(2,507)
Operating Segment [Member] \| Manufacturing [Member]
Segment Contribution [Abstract]
Operating income	1,757	4,218	3,724	2,845
Operating Segment [Member] \| Rhyz Other [Member]
Segment Contribution [Abstract]
Operating income	(5,473)	(3,392)	(11,415)	(5,352)
Corporate and Other [Member]
Segment Contribution [Abstract]
Operating income	$ (202,145)	$ (62,918)	$ (262,493)	$ (133,809)