10-Q Filing

BUCKLE INC CIK: 885245 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0000885245-23-000024`
Period End Date	20230430
Filing Date	20230608
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	bke-20230429_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 30 Cash Flow Statement 52 Stockholders Equity 16

Balance Sheet 70 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`	50.46M	shares	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$250.07M	USD	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$254.43M	USD	Point-in-time
Common stock, shares issued (shares)	`CommonStockSharesIssued`	50.09M	shares	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$253.97M	USD	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$252.08M	USD	Point-in-time
Short-term investments	`MarketableSecuritiesCurrent`	$21.00M	USD	Point-in-time
Common stock, shares outstanding (shares)	`CommonStockSharesOutstanding`	50.09M	shares	Point-in-time
Common stock, shares outstanding (shares)	`CommonStockSharesOutstanding`	50.46M	shares	Point-in-time
Short-term investments	`MarketableSecuritiesCurrent`	$23.07M	USD	Point-in-time
Receivables	`ReceivablesNetCurrent`	$12.65M	USD	Point-in-time
Receivables	`ReceivablesNetCurrent`	$6.36M	USD	Point-in-time
Inventory	`InventoryNet`	$125.13M	USD	Point-in-time
Inventory	`InventoryNet`	$137.74M	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$12.48M	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$12.32M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$433.92M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$423.34M	USD	Point-in-time
PROPERTY AND EQUIPMENT	`PropertyPlantAndEquipmentGross`	$466.32M	USD	Point-in-time
PROPERTY AND EQUIPMENT	`PropertyPlantAndEquipmentGross`	$471.15M	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$353.92M	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$355.09M	USD	Point-in-time
PROPERTY AND EQUIPMENT, Net	`PropertyPlantAndEquipmentNet`	$116.06M	USD	Point-in-time
PROPERTY AND EQUIPMENT, Net	`PropertyPlantAndEquipmentNet`	$112.40M	USD	Point-in-time
OPERATING LEASE RIGHT-OF-USE ASSETS	`OperatingLeaseRightOfUseAsset`	$271.42M	USD	Point-in-time
OPERATING LEASE RIGHT-OF-USE ASSETS	`OperatingLeaseRightOfUseAsset`	$265.72M	USD	Point-in-time
LONG-TERM INVESTMENTS	`MarketableSecuritiesNoncurrent`	$22.51M	USD	Point-in-time
LONG-TERM INVESTMENTS	`MarketableSecuritiesNoncurrent`	$20.62M	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$9.80M	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$10.66M	USD	Point-in-time
Total assets	`Assets`	$837.58M	USD	Point-in-time
Total assets	`Assets`	$848.86M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$57.77M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$44.84M	USD	Point-in-time
Accrued employee compensation	`EmployeeRelatedLiabilitiesCurrent`	$55.49M	USD	Point-in-time
Accrued employee compensation	`EmployeeRelatedLiabilitiesCurrent`	$17.94M	USD	Point-in-time
Accrued store operating expenses	`OtherAccruedLiabilitiesCurrent`	$19.75M	USD	Point-in-time
Accrued store operating expenses	`OtherAccruedLiabilitiesCurrent`	$23.63M	USD	Point-in-time
Gift certificates redeemable	`ContractWithCustomerLiabilityCurrent`	$14.32M	USD	Point-in-time
Gift certificates redeemable	`ContractWithCustomerLiabilityCurrent`	$16.78M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$89.19M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$84.62M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$8.52M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$226.04M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$206.80M	USD	Point-in-time
DEFERRED COMPENSATION	`DeferredCompensationLiabilityClassifiedNoncurrent`	$20.62M	USD	Point-in-time
DEFERRED COMPENSATION	`DeferredCompensationLiabilityClassifiedNoncurrent`	$22.51M	USD	Point-in-time
NON-CURRENT OPERATING LEASE LIABILITIES	`OperatingLeaseLiabilityNoncurrent`	$214.60M	USD	Point-in-time
NON-CURRENT OPERATING LEASE LIABILITIES	`OperatingLeaseLiabilityNoncurrent`	$214.37M	USD	Point-in-time
Total liabilities	`Liabilities`	$443.69M	USD	Point-in-time
Total liabilities	`Liabilities`	$461.26M	USD	Point-in-time
COMMITMENTS	`CommitmentsAndContingencies`	-	USD	Point-in-time
COMMITMENTS	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, authorized 100,000,000 shares of $0.01 par value; 50,456,196 and 50,092,616 shares issued and outstanding at April 29, 2023 and January 28, 2023 respectively	`CommonStockValue`	$501.00K	USD	Point-in-time
Common stock, authorized 100,000,000 shares of $0.01 par value; 50,456,196 and 50,092,616 shares issued and outstanding at April 29, 2023 and January 28, 2023 respectively	`CommonStockValue`	$505.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$182.54M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$178.96M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$196.85M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$222.12M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$405.17M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$376.31M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$312.92M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$353.59M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$848.86M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$837.58M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
SALES, Net of returns and allowances	`RevenueFromContractWithCustomerExcludingAssessedTax`	$282.83M	USD	1 Quarter
SALES, Net of returns and allowances	`RevenueFromContractWithCustomerExcludingAssessedTax`	$309.06M	USD	1 Quarter
COST OF SALES (Including buying, distribution, and occupancy costs)	`CostOfGoodsAndServicesSold`	$149.58M	USD	1 Quarter
COST OF SALES (Including buying, distribution, and occupancy costs)	`CostOfGoodsAndServicesSold`	$156.90M	USD	1 Quarter
Gross profit	`GrossProfit`	$152.16M	USD	1 Quarter
Gross profit	`GrossProfit`	$133.26M	USD	1 Quarter
Selling	`SellingAndMarketingExpense`	$67.25M	USD	1 Quarter
Selling	`SellingAndMarketingExpense`	$66.10M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$13.43M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$11.86M	USD	1 Quarter
Total selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$79.10M	USD	1 Quarter
Total selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$79.53M	USD	1 Quarter
INCOME FROM OPERATIONS	`OperatingIncomeLoss`	$53.73M	USD	1 Quarter
INCOME FROM OPERATIONS	`OperatingIncomeLoss`	$73.06M	USD	1 Quarter
OTHER INCOME, Net	`NonoperatingIncomeExpense`	$3.14M	USD	1 Quarter
OTHER INCOME, Net	`NonoperatingIncomeExpense`	$125.00K	USD	1 Quarter
INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$73.18M	USD	1 Quarter
INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$56.87M	USD	1 Quarter
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$17.93M	USD	1 Quarter
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$13.93M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$42.94M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$55.25M	USD	1 Quarter
Basic (dollars per share)	`EarningsPerShareBasic`	$1.12	USD	1 Quarter
Basic (dollars per share)	`EarningsPerShareBasic`	$0.87	USD	1 Quarter
Diluted (dollars per share)	`EarningsPerShareDiluted`	$0.86	USD	1 Quarter
Diluted (dollars per share)	`EarningsPerShareDiluted`	$1.12	USD	1 Quarter
Basic weighted average shares	`WeightedAverageNumberOfSharesOutstandingBasic`	49.21M	shares	1 Quarter
Basic weighted average shares	`WeightedAverageNumberOfSharesOutstandingBasic`	49.51M	shares	1 Quarter
Diluted weighted average shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	49.86M	shares	1 Quarter
Diluted weighted average shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	49.53M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
NET INCOME	`NetIncomeLoss`	$42.94M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$55.25M	USD	1 Quarter
Depreciation and amortization	`Depreciation`	$4.49M	USD	1 Quarter
Depreciation and amortization	`Depreciation`	$4.85M	USD	1 Quarter
Amortization of non-vested stock grants, net of forfeitures	`RestrictedStockExpense`	$3.58M	USD	1 Quarter
Amortization of non-vested stock grants, net of forfeitures	`RestrictedStockExpense`	$2.95M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-707.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-860.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-29.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-113.00K	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$-720.00K	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$-1.69M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$12.60M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$19.07M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-155.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$9.54M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.11M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$13.63M	USD	1 Quarter
Accrued employee compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-38.96M	USD	1 Quarter
Accrued employee compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-37.55M	USD	1 Quarter
Accrued store operating expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$4.28M	USD	1 Quarter
Accrued store operating expenses	`IncreaseDecreaseInOtherAccruedLiabilities`	$7.30M	USD	1 Quarter
Gift certificates redeemable	`IncreaseDecreaseInContractWithCustomerLiability`	$-2.86M	USD	1 Quarter
Gift certificates redeemable	`IncreaseDecreaseInContractWithCustomerLiability`	$-2.45M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$18.10M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$14.09M	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseinOtherAssetsandLiabilitiesNet`	$2.39M	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseinOtherAssetsandLiabilitiesNet`	$1.72M	USD	1 Quarter
Net cash flows from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$33.30M	USD	1 Quarter
Net cash flows from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$21.50M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.11M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$9.32M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireMarketableSecurities`	$5.88M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireMarketableSecurities`	$11.19M	USD	1 Quarter
Proceeds from sales/maturities of investments	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$5.13M	USD	1 Quarter
Proceeds from sales/maturities of investments	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$7.24M	USD	1 Quarter
Net cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.87M	USD	1 Quarter
Net cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-13.28M	USD	1 Quarter
Payment of dividends	`PaymentsOfDividendsCommonStock`	$17.53M	USD	1 Quarter
Payment of dividends	`PaymentsOfDividendsCommonStock`	$17.66M	USD	1 Quarter
Net cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-17.53M	USD	1 Quarter
Net cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-17.66M	USD	1 Quarter
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$2.36M	USD	1 Quarter
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-3.90M	USD	1 Quarter
CASH AND CASH EQUIVALENTS, Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$250.07M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$254.43M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$253.97M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$252.08M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$250.07M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$254.43M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$253.97M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$252.08M	USD	Point-in-time

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Dividends paid on common stock, per share	`CommonStockDividendsPerShareCashPaid`	$0.35	USD	1 Quarter
Dividends paid on common stock, per share	`CommonStockDividendsPerShareCashPaid`	$0.35	USD	1 Quarter
BALANCE	`StockholdersEquity`	$405.17M	USD	Point-in-time
BALANCE	`StockholdersEquity`	$376.31M	USD	Point-in-time
BALANCE	`StockholdersEquity`	$312.92M	USD	Point-in-time
BALANCE	`StockholdersEquity`	$353.59M	USD	Point-in-time
NET INCOME	`NetIncomeLoss`	$42.94M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$55.25M	USD	1 Quarter
Dividends paid on common stock	`DividendsCommonStockCash`	$17.53M	USD	1 Quarter
Dividends paid on common stock	`DividendsCommonStockCash`	$17.66M	USD	1 Quarter
Amortization of non-vested stock grants, net of forfeitures	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$2.95M	USD	1 Quarter
Amortization of non-vested stock grants, net of forfeitures	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition`	$3.58M	USD	1 Quarter
BALANCE	`StockholdersEquity`	$405.17M	USD	Point-in-time
BALANCE	`StockholdersEquity`	$376.31M	USD	Point-in-time
BALANCE	`StockholdersEquity`	$312.92M	USD	Point-in-time
BALANCE	`StockholdersEquity`	$353.59M	USD	Point-in-time

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