10-Q Filing

RALPH LAUREN CORP CIK: 1037038 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001037038-18-000010`
Period End Date	20180630
Filing Date	20180803
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	rl-20180630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 38 Cash Flow Statement 64 Comprehensive Income 12

Balance Sheet 69 line items

Line Item	Tag	Value	Unit	Period
Allowance on accounts receivable	`AccountsReceivableReservesAllowancesCurrent`	$185.90M	USD	Point-in-time
Allowance on accounts receivable	`AccountsReceivableReservesAllowancesCurrent`	$222.20M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.30B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$532.30M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$699.40M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$1.49B	USD	Point-in-time
Accounts receivable, net of allowances of $185.9 million and $222.2 million	`AccountsReceivableNetCurrent`	$260.00M	USD	Point-in-time
Accounts receivable, net of allowances of $185.9 million and $222.2 million	`AccountsReceivableNetCurrent`	$421.40M	USD	Point-in-time
Inventories	`InventoryNet`	$890.00M	USD	Point-in-time
Inventories	`InventoryNet`	$859.90M	USD	Point-in-time
Inventories	`InventoryNet`	$761.30M	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$38.00M	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$37.30M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$342.80M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$323.70M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.55B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.55B	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.14B	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.19B	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsGrossNoncurrent`	$86.60M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsGrossNoncurrent`	$70.70M	USD	Point-in-time
Goodwill	`Goodwill`	$950.50M	USD	Point-in-time
Goodwill	`Goodwill`	$928.70M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$188.00M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$181.40M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$183.50M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$162.70M	USD	Point-in-time
Total assets	`Assets`	$6.04B	USD	Point-in-time
Total assets	`Assets`	$6.14B	USD	Point-in-time
Short-term debt	`ShortTermBorrowings`	-	USD	Point-in-time
Short-term debt	`ShortTermBorrowings`	$10.10M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$298.10M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$299.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$202.70M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$165.60M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$45.40M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$30.00M	USD	Point-in-time
Accrued expenses and other current liabilities	`OtherLiabilitiesCurrent`	$1.02B	USD	Point-in-time
Accrued expenses and other current liabilities	`OtherLiabilitiesCurrent`	$1.08B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.56B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.59B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$288.00M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$288.00M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesNoncurrent`	$124.80M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesNoncurrent`	$124.80M	USD	Point-in-time
Non-current liability for unrecognized tax benefits	`LiabilityForUncertainTaxPositionsNoncurrent`	$77.80M	USD	Point-in-time
Non-current liability for unrecognized tax benefits	`LiabilityForUncertainTaxPositionsNoncurrent`	$79.20M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$560.00M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$606.70M	USD	Point-in-time
Commitments and contingencies (Note 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$2.69B	USD	Point-in-time
Total liabilities	`Liabilities`	$2.61B	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$2.43B	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$2.38B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$5.81B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$5.75B	USD	Point-in-time
Treasury stock, Class A, at cost; 47.6 million and 46.6 million shares	`TreasuryStockValue`	$4.71B	USD	Point-in-time
Treasury stock, Class A, at cost; 47.6 million and 46.6 million shares	`TreasuryStockValue`	$4.58B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-198.40M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-101.40M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-164.10M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-98.50M	USD	Point-in-time
Total equity	`StockholdersEquity`	$3.30B	USD	Point-in-time
Total equity	`StockholdersEquity`	$3.46B	USD	Point-in-time
Total equity	`StockholdersEquity`	$3.42B	USD	Point-in-time
Total equity	`StockholdersEquity`	$3.36B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$6.04B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$6.14B	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`Revenues`	$1.35B	USD	1 Quarter
Net revenues	`Revenues`	$1.39B	USD	1 Quarter
Cost of goods sold	`CostOfRevenue`	$495.90M	USD	1 Quarter
Cost of goods sold	`CostOfRevenue`	$494.90M	USD	1 Quarter
Gross profit	`GrossProfit`	$895.70M	USD	1 Quarter
Gross profit	`GrossProfit`	$851.20M	USD	1 Quarter
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$741.90M	USD	1 Quarter
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$714.40M	USD	1 Quarter
Impairment of assets	`AssetImpairmentCharges`	$9.70M	USD	1 Quarter
Impairment of assets	`AssetImpairmentCharges`	$1.30M	USD	1 Quarter
Restructuring and other charges	`Restructuringandothercharges`	$22.40M	USD	1 Quarter
Restructuring and other charges	`Restructuringandothercharges`	$36.80M	USD	1 Quarter
Total other operating expenses, net	`OperatingExpenses`	$760.90M	USD	1 Quarter
Total other operating expenses, net	`OperatingExpenses`	$765.60M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$130.10M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$90.30M	USD	1 Quarter
Interest expense	`InterestExpense`	$5.00M	USD	1 Quarter
Interest expense	`InterestExpense`	$4.40M	USD	1 Quarter
Interest income	`InterestIncomeOther`	$9.20M	USD	1 Quarter
Interest income	`InterestIncomeOther`	$2.00M	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-500.00K	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-2.00M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$132.90M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$86.80M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$23.90M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$27.30M	USD	1 Quarter
Net income	`NetIncomeLoss`	$109.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$59.50M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$1.33	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.73	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.72	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$1.31	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	81.90M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	81.60M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	83.30M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	82.50M	shares	1 Quarter
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.50	USD	1 Quarter
Dividends declared per share	`CommonStockDividendsPerShareDeclared`	$0.62	USD	1 Quarter

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$109.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$59.50M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$70.30M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$72.90M	USD	1 Quarter
Deferred income tax expense (benefit)	`DeferredIncomeTaxExpenseBenefit`	$-14.70M	USD	1 Quarter
Deferred income tax expense (benefit)	`DeferredIncomeTaxExpenseBenefit`	$7.30M	USD	1 Quarter
Non-cash stock-based compensation expense	`ShareBasedCompensation`	$21.50M	USD	1 Quarter
Non-cash stock-based compensation expense	`ShareBasedCompensation`	$21.60M	USD	1 Quarter
Non-cash impairment of assets	`AssetImpairmentCharges`	$9.70M	USD	1 Quarter
Non-cash impairment of assets	`AssetImpairmentCharges`	$1.30M	USD	1 Quarter
Non-cash restructuring-related inventory charges	`InventoryRelatedCharges`	$700.00K	USD	1 Quarter
Non-cash restructuring-related inventory charges	`InventoryRelatedCharges`	-	USD	1 Quarter
Other non-cash charges	`OtherNoncashIncomeExpense`	$-5.80M	USD	1 Quarter
Other non-cash charges	`OtherNoncashIncomeExpense`	$-2.00M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-174.00M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-153.80M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$147.10M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$55.40M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$35.90M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$4.60M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$42.40M	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-100.00K	USD	1 Quarter
Income tax receivables and payables	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$8.70M	USD	1 Quarter
Income tax receivables and payables	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$19.40M	USD	1 Quarter
Deferred income	`IncreaseDecreaseInDeferredRevenue`	$-4.80M	USD	1 Quarter
Deferred income	`IncreaseDecreaseInDeferredRevenue`	$600.00K	USD	1 Quarter
Other balance sheet changes	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-30.10M	USD	1 Quarter
Other balance sheet changes	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-16.80M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$230.60M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$334.20M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$41.90M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$42.30M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireMarketableSecurities`	$1.25B	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireMarketableSecurities`	$270.40M	USD	1 Quarter
Proceeds from sales and maturities of investments	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$187.40M	USD	1 Quarter
Proceeds from sales and maturities of investments	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$469.80M	USD	1 Quarter
Acquisitions and ventures	`PaymentsToAcquireBusinessesAndInterestInAffiliates`	$4.50M	USD	1 Quarter
Acquisitions and ventures	`PaymentsToAcquireBusinessesAndInterestInAffiliates`	$3.60M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-827.10M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-128.50M	USD	1 Quarter
Repayments of short-term debt	`RepaymentsOfShortTermDebt`	$9.90M	USD	1 Quarter
Repayments of short-term debt	`RepaymentsOfShortTermDebt`	-	USD	1 Quarter
Payments of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$5.70M	USD	1 Quarter
Payments of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$6.20M	USD	1 Quarter
Payments of dividends	`PaymentsOfDividendsCommonStock`	$40.60M	USD	1 Quarter
Payments of dividends	`PaymentsOfDividendsCommonStock`	$40.50M	USD	1 Quarter
Repurchases of common stock, including shares surrendered for tax withholdings	`PaymentsForRepurchaseOfCommonStock`	$130.00M	USD	1 Quarter
Repurchases of common stock, including shares surrendered for tax withholdings	`PaymentsForRepurchaseOfCommonStock`	$14.40M	USD	1 Quarter
Proceeds from exercises of stock options	`ProceedsFromStockOptionsExercised`	$21.80M	USD	1 Quarter
Proceeds from exercises of stock options	`ProceedsFromStockOptionsExercised`	$100.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-61.00M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-164.40M	USD	1 Quarter
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-18.80M	USD	1 Quarter
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$19.90M	USD	1 Quarter
Net increase (decrease) in cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-779.70M	USD	1 Quarter
Net increase (decrease) in cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$164.60M	USD	1 Quarter
Cash, cash equivalents, and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$711.80M	USD	Point-in-time
Cash, cash equivalents, and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$575.80M	USD	Point-in-time
Cash, cash equivalents, and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$876.40M	USD	Point-in-time
Cash, cash equivalents, and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.36B	USD	Point-in-time
Cash, cash equivalents, and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$711.80M	USD	Point-in-time
Cash, cash equivalents, and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$575.80M	USD	Point-in-time
Cash, cash equivalents, and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$876.40M	USD	Point-in-time
Cash, cash equivalents, and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.36B	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$109.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$59.50M	USD	1 Quarter
Foreign currency translation gains (losses)	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$56.60M	USD	1 Quarter
Foreign currency translation gains (losses)	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-30.70M	USD	1 Quarter
Net gains (losses) on cash flow hedges	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$27.70M	USD	1 Quarter
Net gains (losses) on cash flow hedges	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$-22.00M	USD	1 Quarter
Net gains (losses) on defined benefit plans	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-100.00K	USD	1 Quarter
Net gains (losses) on defined benefit plans	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$300.00K	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-2.90M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$34.30M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$93.80M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$106.10M	USD	1 Quarter

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