10-Q Filing

BUCKLE INC CIK: 885245 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0000885245-19-000022`
Period End Date	20190430
Filing Date	20190613
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	bke-20190504.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 30 Cash Flow Statement 52 Stockholders Equity 17 Comprehensive Income 8

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Common stock, authorized (shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, authorized (shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, par value (dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares issued (shares)	`CommonStockSharesIssued`	49.23M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$168.47M	USD	Point-in-time
Common stock, shares issued (shares)	`CommonStockSharesIssued`	49.02M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$165.09M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$183.94M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$168.39M	USD	Point-in-time
Short-term investments	`MarketableSecuritiesCurrent`	$53.66M	USD	Point-in-time
Short-term investments	`MarketableSecuritiesCurrent`	$51.55M	USD	Point-in-time
Common stock, shares outstanding (shares)	`CommonStockSharesOutstanding`	49.23M	shares	Point-in-time
Common stock, shares outstanding (shares)	`CommonStockSharesOutstanding`	49.02M	shares	Point-in-time
Receivables	`ReceivablesNetCurrent`	$7.09M	USD	Point-in-time
Receivables	`ReceivablesNetCurrent`	$5.78M	USD	Point-in-time
Inventory	`InventoryNet`	$125.19M	USD	Point-in-time
Inventory	`InventoryNet`	$120.81M	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$18.14M	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$20.41M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$384.60M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$370.43M	USD	Point-in-time
PROPERTY AND EQUIPMENT	`PropertyPlantAndEquipmentGross`	$452.19M	USD	Point-in-time
PROPERTY AND EQUIPMENT	`PropertyPlantAndEquipmentGross`	$453.58M	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$326.70M	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$321.50M	USD	Point-in-time
PROPERTY AND EQUIPMENT, Net	`PropertyPlantAndEquipmentNet`	$126.87M	USD	Point-in-time
PROPERTY AND EQUIPMENT, Net	`PropertyPlantAndEquipmentNet`	$130.68M	USD	Point-in-time
OPERATING LEASE RIGHT-OF-USE ASSETS	`OperatingLeaseRightOfUseAsset`	$345.47M	USD	Point-in-time
OPERATING LEASE RIGHT-OF-USE ASSETS	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
LONG-TERM INVESTMENTS	`MarketableSecuritiesNoncurrent`	$15.67M	USD	Point-in-time
LONG-TERM INVESTMENTS	`MarketableSecuritiesNoncurrent`	$18.75M	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$7.75M	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$7.44M	USD	Point-in-time
Total assets	`Assets`	$527.30M	USD	Point-in-time
Total assets	`Assets`	$880.37M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$36.53M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$29.01M	USD	Point-in-time
Accrued employee compensation	`EmployeeRelatedLiabilitiesCurrent`	$11.64M	USD	Point-in-time
Accrued employee compensation	`EmployeeRelatedLiabilitiesCurrent`	$21.45M	USD	Point-in-time
Accrued store operating expenses	`OtherAccruedLiabilitiesCurrent`	$17.98M	USD	Point-in-time
Accrued store operating expenses	`OtherAccruedLiabilitiesCurrent`	$22.12M	USD	Point-in-time
Gift certificates redeemable	`AccruedLiabilitiesForUnredeeemedGiftCards`	$14.26M	USD	Point-in-time
Gift certificates redeemable	`AccruedLiabilitiesForUnredeeemedGiftCards`	$16.63M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$72.86M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	-	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$9.65M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$5.14M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$167.06M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$90.22M	USD	Point-in-time
DEFERRED COMPENSATION	`DeferredCompensationLiabilityClassifiedNoncurrent`	$13.98M	USD	Point-in-time
DEFERRED COMPENSATION	`DeferredCompensationLiabilityClassifiedNoncurrent`	$14.91M	USD	Point-in-time
NON-CURRENT OPERATING LEASE LIABILITIES	`OperatingLeaseLiabilityNoncurrent`	$300.43M	USD	Point-in-time
NON-CURRENT OPERATING LEASE LIABILITIES	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
DEFERRED RENT LIABILITY	`IncentiveFromLessor`	-	USD	Point-in-time
DEFERRED RENT LIABILITY	`IncentiveFromLessor`	$29.23M	USD	Point-in-time
Total liabilities	`Liabilities`	$133.43M	USD	Point-in-time
Total liabilities	`Liabilities`	$482.41M	USD	Point-in-time
COMMITMENTS	`CommitmentsAndContingencies`	-	USD	Point-in-time
COMMITMENTS	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, authorized 100,000,000 shares of $.01 par value; 49,231,625 and 49,017,395 shares issued and outstanding at May 4, 2019 and February 2, 2019, respectively	`CommonStockValue`	$492.00K	USD	Point-in-time
Common stock, authorized 100,000,000 shares of $.01 par value; 49,231,625 and 49,017,395 shares issued and outstanding at May 4, 2019 and February 2, 2019, respectively	`CommonStockValue`	$490.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$148.56M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$149.86M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$244.82M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$247.61M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$397.96M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$391.25M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$393.88M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$399.20M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$527.30M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$880.37M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
SALES, Net of returns and allowances	`RevenueFromContractWithCustomerExcludingAssessedTax`	$201.31M	USD	1 Quarter
SALES, Net of returns and allowances	`RevenueFromContractWithCustomerExcludingAssessedTax`	$204.90M	USD	1 Quarter
COST OF SALES (Including buying, distribution, and occupancy costs)	`CostOfGoodsAndServicesSold`	$125.21M	USD	1 Quarter
COST OF SALES (Including buying, distribution, and occupancy costs)	`CostOfGoodsAndServicesSold`	$124.66M	USD	1 Quarter
Gross profit	`GrossProfit`	$76.65M	USD	1 Quarter
Gross profit	`GrossProfit`	$79.69M	USD	1 Quarter
Selling	`SellingAndMarketingExpense`	$45.85M	USD	1 Quarter
Selling	`SellingAndMarketingExpense`	$46.61M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$11.31M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$10.58M	USD	1 Quarter
Total selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$57.92M	USD	1 Quarter
Total selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$56.43M	USD	1 Quarter
INCOME FROM OPERATIONS	`OperatingIncomeLoss`	$18.73M	USD	1 Quarter
INCOME FROM OPERATIONS	`OperatingIncomeLoss`	$23.26M	USD	1 Quarter
OTHER INCOME, Net	`NonoperatingIncomeExpense`	$1.25M	USD	1 Quarter
OTHER INCOME, Net	`NonoperatingIncomeExpense`	$1.49M	USD	1 Quarter
INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$19.99M	USD	1 Quarter
INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$24.75M	USD	1 Quarter
PROVISION FOR INCOME TAXES	`IncomeTaxExpenseBenefit`	$6.41M	USD	1 Quarter
PROVISION FOR INCOME TAXES	`IncomeTaxExpenseBenefit`	$4.90M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$15.09M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$18.34M	USD	1 Quarter
Basic (dollars per share)	`EarningsPerShareBasic`	$0.38	USD	1 Quarter
Basic (dollars per share)	`EarningsPerShareBasic`	$0.31	USD	1 Quarter
Diluted (dollars per share)	`EarningsPerShareDiluted`	$0.31	USD	1 Quarter
Diluted (dollars per share)	`EarningsPerShareDiluted`	$0.38	USD	1 Quarter
Basic weighted average shares	`WeightedAverageNumberOfSharesOutstandingBasic`	48.38M	shares	1 Quarter
Basic weighted average shares	`WeightedAverageNumberOfSharesOutstandingBasic`	48.55M	shares	1 Quarter
Diluted weighted average shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	48.55M	shares	1 Quarter
Diluted weighted average shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	48.73M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
NET INCOME	`NetIncomeLoss`	$15.09M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$18.34M	USD	1 Quarter
Depreciation and amortization	`Depreciation`	$6.95M	USD	1 Quarter
Depreciation and amortization	`Depreciation`	$6.18M	USD	1 Quarter
Amortization of non-vested stock grants, net of forfeitures	`RestrictedStockExpense`	$1.48M	USD	1 Quarter
Amortization of non-vested stock grants, net of forfeitures	`RestrictedStockExpense`	$1.30M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-385.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-311.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-297.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-52.00K	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$-633.00K	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$-235.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-4.38M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$478.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.11M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.27M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.95M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$7.56M	USD	1 Quarter
Accrued employee compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-9.82M	USD	1 Quarter
Accrued employee compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-10.41M	USD	1 Quarter
Accrued store operating expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$2.60M	USD	1 Quarter
Accrued store operating expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$4.05M	USD	1 Quarter
Gift certificates redeemable	`IncreaseDecreaseInGiftCardLiability`	$-2.37M	USD	1 Quarter
Gift certificates redeemable	`IncreaseDecreaseInGiftCardLiability`	$-2.90M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$5.58M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$6.47M	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseinOtherAssetsandLiabilitiesNet`	$-664.00K	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseinOtherAssetsandLiabilitiesNet`	$1.07M	USD	1 Quarter
Net cash flows from operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$29.27M	USD	1 Quarter
Net cash flows from operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$19.33M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.48M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.46M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireMarketableSecurities`	$10.44M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireMarketableSecurities`	$15.97M	USD	1 Quarter
Proceeds from sales/maturities of investments	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$10.15M	USD	1 Quarter
Proceeds from sales/maturities of investments	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$16.94M	USD	1 Quarter
Net cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.50M	USD	1 Quarter
Net cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-3.77M	USD	1 Quarter
Payment of dividends	`PaymentsOfDividendsCommonStock`	$12.31M	USD	1 Quarter
Payment of dividends	`PaymentsOfDividendsCommonStock`	$12.26M	USD	1 Quarter
Net cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-12.31M	USD	1 Quarter
Net cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-12.26M	USD	1 Quarter
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$3.30M	USD	1 Quarter
NET INCREASE IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$15.47M	USD	1 Quarter
CASH AND CASH EQUIVALENTS, Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$168.47M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$165.09M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$183.94M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$168.39M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, End of period	`CashAndCashEquivalentsAtCarryingValue`	$168.47M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, End of period	`CashAndCashEquivalentsAtCarryingValue`	$165.09M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, End of period	`CashAndCashEquivalentsAtCarryingValue`	$183.94M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, End of period	`CashAndCashEquivalentsAtCarryingValue`	$168.39M	USD	Point-in-time

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Dividends paid on common stock, per share	`CommonStockDividendsPerShareCashPaid`	$0.25	USD	1 Quarter
Dividends paid on common stock, per share	`CommonStockDividendsPerShareCashPaid`	$0.25	USD	1 Quarter
BALANCE	`StockholdersEquity`	$397.96M	USD	Point-in-time
BALANCE	`StockholdersEquity`	$391.25M	USD	Point-in-time
BALANCE	`StockholdersEquity`	$393.88M	USD	Point-in-time
BALANCE	`StockholdersEquity`	$399.20M	USD	Point-in-time
NET INCOME	`NetIncomeLoss`	$15.09M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$18.34M	USD	1 Quarter
Dividends paid on common stock	`DividendsCommonStockCash`	$12.31M	USD	1 Quarter
Dividends paid on common stock	`DividendsCommonStockCash`	$12.26M	USD	1 Quarter
Amortization of non-vested stock grants, net of forfeitures	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$1.30M	USD	1 Quarter
Amortization of non-vested stock grants, net of forfeitures	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$1.48M	USD	1 Quarter
Cumulative effect of change in accounting upon adoption of ASC Topic 606	`CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption`	$389.00K	USD	Point-in-time
BALANCE	`StockholdersEquity`	$397.96M	USD	Point-in-time
BALANCE	`StockholdersEquity`	$391.25M	USD	Point-in-time
BALANCE	`StockholdersEquity`	$393.88M	USD	Point-in-time
BALANCE	`StockholdersEquity`	$399.20M	USD	Point-in-time

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
NET INCOME	`NetIncomeLoss`	$15.09M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$18.34M	USD	1 Quarter
Change in unrealized loss on investments, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	-	USD	1 Quarter
Change in unrealized loss on investments, net of tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	-	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	-	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	-	USD	1 Quarter
COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTax`	$15.09M	USD	1 Quarter
COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTax`	$18.34M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.