10-Q Filing

WINMARK CORP CIK: 908315 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0000908315-18-000020`
Period End Date	20180331
Filing Date	20180501
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	wina-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 30 Cash Flow Statement 63 Comprehensive Income 9

Balance Sheet 76 line items

Line Item	Tag	Value	Unit	Period
Receivables, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$400.00	USD	Point-in-time
Receivables, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.20K	USD	Point-in-time
Unamortized debt issuance costs - Current	`DeferredFinanceCostsCurrentNet`	$13.90K	USD	Point-in-time
Unamortized debt issuance costs - Current	`DeferredFinanceCostsCurrentNet`	$13.90K	USD	Point-in-time
Unamortized debt issuance costs - Noncurrent	`DeferredFinanceCostsNoncurrentNet`	$96.50K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.07M	USD	Point-in-time
Unamortized debt issuance costs - Noncurrent	`DeferredFinanceCostsNoncurrentNet`	$93.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.72M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.80M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$30.00K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$90.00K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockNoParValue`	-	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$105.00K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockNoParValue`	-	USD	Point-in-time
Receivables, less allowance for doubtful accounts of $1,200 and $400	`ReceivablesNetCurrent`	$1.59M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	10.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	10.00M	shares	Point-in-time
Receivables, less allowance for doubtful accounts of $1,200 and $400	`ReceivablesNetCurrent`	$1.80M	USD	Point-in-time
Net investment in leases - current	`NetInvestmentInLeasesCurrent`	$15.33M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	3.85M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	3.84M	shares	Point-in-time
Net investment in leases - current	`NetInvestmentInLeasesCurrent`	$15.60M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	3.84M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	3.85M	shares	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$2.16M	USD	Point-in-time
Inventories	`InventoryNet`	$79.70K	USD	Point-in-time
Inventories	`InventoryNet`	$97.10K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$653.30K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$901.60K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$21.45M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$19.83M	USD	Point-in-time
Net investment in leases - long-term	`NetInvestmentInLeasesNoncurrent`	$26.31M	USD	Point-in-time
Net investment in leases - long-term	`NetInvestmentInLeasesNoncurrent`	$25.95M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$581.20K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$486.80K	USD	Point-in-time
Goodwill	`Goodwill`	$607.50K	USD	Point-in-time
Goodwill	`Goodwill`	$607.50K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$398.20K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$350.40K	USD	Point-in-time
Total assets	`Assets`	$48.84M	USD	Point-in-time
Total assets	`Assets`	$47.72M	USD	Point-in-time
Notes payable, net of unamortized debt issuance costs of $13,900 and $13,900	`NotesPayableCurrent`	$3.24M	USD	Point-in-time
Notes payable, net of unamortized debt issuance costs of $13,900 and $13,900	`NotesPayableCurrent`	$3.24M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.07M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.07M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$31.10K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.10M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.84M	USD	Point-in-time
Discounted lease rentals	`SecuredDebtCurrent`	$1.61M	USD	Point-in-time
Discounted lease rentals	`SecuredDebtCurrent`	$570.80K	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$3.02M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$3.01M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$12.07M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$10.73M	USD	Point-in-time
Line of credit	`LongTermLineOfCredit`	$24.60M	USD	Point-in-time
Line of credit	`LongTermLineOfCredit`	$35.40M	USD	Point-in-time
Notes payable, net of unamortized debt issuance costs of $93,000 and $96,500	`LongTermNotesPayable`	$28.03M	USD	Point-in-time
Notes payable, net of unamortized debt issuance costs of $93,000 and $96,500	`LongTermNotesPayable`	$28.84M	USD	Point-in-time
Discounted lease rentals	`SecuredLongTermDebt`	$2.68M	USD	Point-in-time
Discounted lease rentals	`SecuredLongTermDebt`	$1.12M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityNoncurrent`	$7.30M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityNoncurrent`	$7.31M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$1.36M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$845.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$320.50K	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$320.50K	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$73.83M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$64.30M	USD	Point-in-time
Common stock, no par value, 10,000,000 shares authorized, 3,849,506 and 3,843,078 shares issued and outstanding	`CommonStockValue`	$2.02M	USD	Point-in-time
Common stock, no par value, 10,000,000 shares authorized, 3,849,506 and 3,843,078 shares issued and outstanding	`CommonStockValue`	$1.48M	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$-30.65M	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$-37.19M	USD	Point-in-time
Total shareholders' equity (deficit)	`StockholdersEquity`	$-35.71M	USD	Point-in-time
Total shareholders' equity (deficit)	`StockholdersEquity`	$-28.64M	USD	Point-in-time
Total liabilities and shareholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$48.84M	USD	Point-in-time
Total liabilities and shareholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$47.72M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Leasing income	`CapitalLeasesIncomeStatementLeaseRevenue`	$5.86M	USD	1 Quarter
Leasing income	`CapitalLeasesIncomeStatementLeaseRevenue`	$5.53M	USD	1 Quarter
Total revenue	`Revenues`	$17.81M	USD	1 Quarter
Total revenue	`Revenues`	$18.16M	USD	1 Quarter
Leasing expense	`LeasingExpense`	$554.90K	USD	1 Quarter
Leasing expense	`LeasingExpense`	$1.27M	USD	1 Quarter
Provision for credit losses	`ProvisionForLoanAndLeaseLosses`	$-1.40K	USD	1 Quarter
Provision for credit losses	`ProvisionForLoanAndLeaseLosses`	$95.00K	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$6.51M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$6.69M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$9.31M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$10.07M	USD	1 Quarter
Interest expense	`InterestExpense`	$743.80K	USD	1 Quarter
Interest expense	`InterestExpense`	$499.10K	USD	1 Quarter
Interest and other income (expense)	`InterestAndOtherIncomeExpense`	$1.80K	USD	1 Quarter
Interest and other income (expense)	`InterestAndOtherIncomeExpense`	$-1.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$9.33M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$8.82M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$2.37M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$3.27M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.96M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.55M	USD	1 Quarter
Earnings per share - basic (in dollars per share)	`EarningsPerShareBasic`	$1.33	USD	1 Quarter
Earnings per share - basic (in dollars per share)	`EarningsPerShareBasic`	$1.81	USD	1 Quarter
Earnings per share - diluted (in dollars per share)	`EarningsPerShareDiluted`	$1.69	USD	1 Quarter
Earnings per share - diluted (in dollars per share)	`EarningsPerShareDiluted`	$1.25	USD	1 Quarter
Weighted average shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	3.85M	shares	1 Quarter
Weighted average shares outstanding - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	4.17M	shares	1 Quarter
Weighted average shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.45M	shares	1 Quarter
Weighted average shares outstanding - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.12M	shares	1 Quarter

Cash Flow Statement 63 line items

Line Item	Tag	Value	Unit	Period
Net Income	`NetIncomeLoss`	$6.96M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$5.55M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$98.50K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$75.80K	USD	1 Quarter
Provision for credit losses	`ProvisionForLoanAndLeaseLosses`	$-1.40K	USD	1 Quarter
Provision for credit losses	`ProvisionForLoanAndLeaseLosses`	$95.00K	USD	1 Quarter
Compensation expense related to stock options	`ShareBasedCompensation`	$477.00K	USD	1 Quarter
Compensation expense related to stock options	`ShareBasedCompensation`	$490.80K	USD	1 Quarter
Deferred initial direct costs	`DeferredInitialDirectCosts`	$979.80K	USD	1 Quarter
Deferred initial direct costs	`DeferredInitialDirectCosts`	$112.50K	USD	1 Quarter
Amortization of deferred initial direct costs	`AmortizationOfDeferredLeasingFees`	$125.60K	USD	1 Quarter
Amortization of deferred initial direct costs	`AmortizationOfDeferredLeasingFees`	$299.70K	USD	1 Quarter
Tax benefits on exercised stock options	`EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptionsCashFlowImpact`	$96.10K	USD	1 Quarter
Receivables	`IncreaseDecreaseInAccountsReceivable`	$-203.20K	USD	1 Quarter
Receivables	`IncreaseDecreaseInAccountsReceivable`	$34.20K	USD	1 Quarter
Income tax receivable/payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$3.03M	USD	1 Quarter
Income tax receivable/payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$2.19M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-17.40K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$18.70K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-248.30K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-244.20K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	$-6.20K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	$47.80K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-5.40K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-442.20K	USD	1 Quarter
Accrued and other liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$774.40K	USD	1 Quarter
Accrued and other liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-156.90K	USD	1 Quarter
Rents received in advance and security deposits	`AdditionsToAdvanceAndSecurityDeposits`	$-86.90K	USD	1 Quarter
Rents received in advance and security deposits	`AdditionsToAdvanceAndSecurityDeposits`	$-38.70K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$-53.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$12.70K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$8.72M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$10.30M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$170.20K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$11.90K	USD	1 Quarter
Purchase of equipment for lease contracts	`PaymentsToAcquireEquipmentOnLease`	$7.51M	USD	1 Quarter
Purchase of equipment for lease contracts	`PaymentsToAcquireEquipmentOnLease`	$6.20M	USD	1 Quarter
Principal collections on lease receivables	`ProceedsFromSaleAndCollectionOfLeaseReceivables`	$5.88M	USD	1 Quarter
Principal collections on lease receivables	`ProceedsFromSaleAndCollectionOfLeaseReceivables`	$7.29M	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-486.00K	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-235.30K	USD	1 Quarter
Proceeds from borrowings on line of credit	`ProceedsFromLinesOfCredit`	$1.90M	USD	1 Quarter
Payments on line of credit	`RepaymentsOfLinesOfCredit`	$10.80M	USD	1 Quarter
Payments on line of credit	`RepaymentsOfLinesOfCredit`	$9.10M	USD	1 Quarter
Payments on notes payable	`RepaymentsOfNotesPayable`	$500.00K	USD	1 Quarter
Payments on notes payable	`RepaymentsOfNotesPayable`	$812.50K	USD	1 Quarter
Proceeds from exercises of stock options	`ProceedsFromStockOptionsExercised`	$48.40K	USD	1 Quarter
Proceeds from exercises of stock options	`ProceedsFromStockOptionsExercised`	$88.60K	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$416.50K	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$423.20K	USD	1 Quarter
Proceeds from discounted lease rentals	`ProceedsFromIssuanceOfSecuredDebt`	$2.92M	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-8.03M	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-9.07M	USD	1 Quarter
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$460.50K	USD	1 Quarter
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$742.40K	USD	1 Quarter
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.75M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.29M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.16M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.91M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.75M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.29M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.16M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.91M	USD	Point-in-time

Comprehensive Income 9 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$6.96M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.55M	USD	1 Quarter
Unrealized holding net gains (losses) arising during period	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax`	$7.60K	USD	1 Quarter
Other comprehensive income (loss), before tax	`OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent`	$7.60K	USD	1 Quarter
Unrealized holding net gains/losses arising during period	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax`	$2.80K	USD	1 Quarter
Income tax (expense) benefit related to items of other comprehensive income	`OtherComprehensiveIncomeLossTaxPortionAttributableToParent1`	$2.80K	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$4.80K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$6.96M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$5.56M	USD	1 Quarter

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