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10-Q Filing

RALPH LAUREN CORP CIK: 1037038 Q1 2020
Filing Information
Form Type 10-Q
Accession Number 0001037038-19-000008
Period End Date 20190630
Filing Date 20190801
Fiscal Year 2020
Fiscal Period Q1
XBRL Instance rl-20190629x10q_htm.xml
Balance Sheet 69 line items
Line Item Tag Value Unit Period
Allowance on accounts receivable AccountsReceivableReservesAllowancesCurrent $192.20M USD Point-in-time
Allowance on accounts receivable AccountsReceivableReservesAllowancesCurrent $180.50M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $648.40M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $584.10M USD Point-in-time
Short-term investments ShortTermInvestments $1.40B USD Point-in-time
Short-term investments ShortTermInvestments $1.28B USD Point-in-time
Accounts receivable, net of allowances of $180.5 million and $192.2 million AccountsReceivableNetCurrent $398.10M USD Point-in-time
Accounts receivable, net of allowances of $180.5 million and $192.2 million AccountsReceivableNetCurrent $290.70M USD Point-in-time
Inventories InventoryNet $890.00M USD Point-in-time
Inventories InventoryNet $988.60M USD Point-in-time
Inventories InventoryNet $817.80M USD Point-in-time
Income tax receivable IncomeTaxesReceivable $32.10M USD Point-in-time
Income tax receivable IncomeTaxesReceivable $33.00M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $412.70M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $359.30M USD Point-in-time
Total current assets AssetsCurrent $3.59B USD Point-in-time
Total current assets AssetsCurrent $3.65B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $1.04B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $987.00M USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset - USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $1.42B USD Point-in-time
Deferred tax assets DeferredTaxAssetsGrossNoncurrent $94.30M USD Point-in-time
Deferred tax assets DeferredTaxAssetsGrossNoncurrent $67.00M USD Point-in-time
Goodwill Goodwill $919.60M USD Point-in-time
Goodwill Goodwill $925.30M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $163.70M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $158.20M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $109.00M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $158.50M USD Point-in-time
Total assets Assets $7.34B USD Point-in-time
Total assets Assets $5.94B USD Point-in-time
Accounts payable AccountsPayableCurrent $202.30M USD Point-in-time
Accounts payable AccountsPayableCurrent $351.50M USD Point-in-time
Income tax payable AccruedIncomeTaxesCurrent $45.30M USD Point-in-time
Income tax payable AccruedIncomeTaxesCurrent $29.40M USD Point-in-time
Current portion of operating lease liabilities OperatingLeaseLiabilityCurrent - USD Point-in-time
Current portion of operating lease liabilities OperatingLeaseLiabilityCurrent $293.80M USD Point-in-time
Accrued expenses and other current liabilities OtherLiabilitiesCurrent $900.40M USD Point-in-time
Accrued expenses and other current liabilities OtherLiabilitiesCurrent $968.40M USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.59B USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.20B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $692.10M USD Point-in-time
Long-term debt LongTermDebtNoncurrent $689.10M USD Point-in-time
Long-term operating lease liabilities OperatingLeaseLiabilityNoncurrent - USD Point-in-time
Long-term operating lease liabilities OperatingLeaseLiabilityNoncurrent $1.48B USD Point-in-time
Income tax payable AccruedIncomeTaxesNoncurrent $146.70M USD Point-in-time
Income tax payable AccruedIncomeTaxesNoncurrent $146.70M USD Point-in-time
Non-current liability for unrecognized tax benefits LiabilityForUncertainTaxPositionsNoncurrent $78.80M USD Point-in-time
Non-current liability for unrecognized tax benefits LiabilityForUncertainTaxPositionsNoncurrent $77.90M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $339.30M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $540.90M USD Point-in-time
Commitments and contingencies (Note 14) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Note 14) CommitmentsAndContingencies - USD Point-in-time
Total liabilities Liabilities $4.33B USD Point-in-time
Total liabilities Liabilities $2.66B USD Point-in-time
Additional paid-in-capital AdditionalPaidInCapitalCommonStock $2.49B USD Point-in-time
Additional paid-in-capital AdditionalPaidInCapitalCommonStock $2.52B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $5.98B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $5.88B USD Point-in-time
Treasury stock, Class A, at cost; 52.4 million and 50.7 million shares TreasuryStockValue $5.08B USD Point-in-time
Treasury stock, Class A, at cost; 52.4 million and 50.7 million shares TreasuryStockValue $5.27B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-109.20M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-103.40M USD Point-in-time
Total equity StockholdersEquity $3.42B USD Point-in-time
Total equity StockholdersEquity $3.29B USD Point-in-time
Total equity StockholdersEquity $3.46B USD Point-in-time
Total equity StockholdersEquity $3.01B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $5.94B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $7.34B USD Point-in-time
Income Statement 38 line items
Line Item Tag Value Unit Period
Net revenues Revenues $1.39B USD 1 Quarter
Net revenues Revenues $1.43B USD 1 Quarter
Cost of goods sold CostOfRevenue $508.00M USD 1 Quarter
Cost of goods sold CostOfRevenue $494.90M USD 1 Quarter
Gross profit GrossProfit $920.80M USD 1 Quarter
Gross profit GrossProfit $895.70M USD 1 Quarter
Selling, general, and administrative expenses SellingGeneralAndAdministrativeExpense $746.70M USD 1 Quarter
Selling, general, and administrative expenses SellingGeneralAndAdministrativeExpense $741.90M USD 1 Quarter
Impairment of assets AssetImpairmentCharges $1.30M USD 1 Quarter
Impairment of assets AssetImpairmentCharges $1.20M USD 1 Quarter
Restructuring and other charges Restructuringandothercharges $22.40M USD 1 Quarter
Restructuring and other charges Restructuringandothercharges $29.60M USD 1 Quarter
Total other operating expenses, net OperatingExpenses $765.60M USD 1 Quarter
Total other operating expenses, net OperatingExpenses $777.50M USD 1 Quarter
Operating income OperatingIncomeLoss $143.30M USD 1 Quarter
Operating income OperatingIncomeLoss $130.10M USD 1 Quarter
Interest expense InterestExpense $4.20M USD 1 Quarter
Interest expense InterestExpense $4.40M USD 1 Quarter
Interest income InterestIncomeOther $9.20M USD 1 Quarter
Interest income InterestIncomeOther $11.60M USD 1 Quarter
Other expense, net OtherNonoperatingIncomeExpense $-4.10M USD 1 Quarter
Other expense, net OtherNonoperatingIncomeExpense $-2.00M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $146.60M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $132.90M USD 1 Quarter
Income tax provision IncomeTaxExpenseBenefit $29.50M USD 1 Quarter
Income tax provision IncomeTaxExpenseBenefit $23.90M USD 1 Quarter
Net income NetIncomeLoss $117.10M USD 1 Quarter
Net income NetIncomeLoss $109.00M USD 1 Quarter
Basic EarningsPerShareBasic $1.50 USD 1 Quarter
Basic EarningsPerShareBasic $1.33 USD 1 Quarter
Diluted EarningsPerShareDiluted $1.31 USD 1 Quarter
Diluted EarningsPerShareDiluted $1.47 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 81.90M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 78.20M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 83.30M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 79.90M shares 1 Quarter
Dividends declared per share CommonStockDividendsPerShareDeclared $0.69 USD 1 Quarter
Dividends declared per share CommonStockDividendsPerShareDeclared $0.62 USD 1 Quarter
Cash Flow Statement 67 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $117.10M USD 1 Quarter
Net income NetIncomeLoss $109.00M USD 1 Quarter
Depreciation and amortization expense DepreciationDepletionAndAmortization $66.20M USD 1 Quarter
Depreciation and amortization expense DepreciationDepletionAndAmortization $70.30M USD 1 Quarter
Deferred income tax expense (benefit) DeferredIncomeTaxExpenseBenefit $-8.10M USD 1 Quarter
Deferred income tax expense (benefit) DeferredIncomeTaxExpenseBenefit $7.30M USD 1 Quarter
Non-cash stock-based compensation expense ShareBasedCompensation $23.00M USD 1 Quarter
Non-cash stock-based compensation expense ShareBasedCompensation $21.50M USD 1 Quarter
Non-cash impairment of assets AssetImpairmentCharges $1.30M USD 1 Quarter
Non-cash impairment of assets AssetImpairmentCharges $1.20M USD 1 Quarter
Non-cash restructuring-related inventory charges InventoryRelatedCharges - USD 1 Quarter
Non-cash restructuring-related inventory charges InventoryRelatedCharges $600.00K USD 1 Quarter
Other non-cash charges (benefits) OtherNoncashIncomeExpense $1.90M USD 1 Quarter
Other non-cash charges (benefits) OtherNoncashIncomeExpense $-5.80M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-108.60M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-153.80M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $166.30M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $147.10M USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $48.80M USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $35.90M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-100.00K USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $82.90M USD 1 Quarter
Income tax receivables and payables IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable $13.30M USD 1 Quarter
Income tax receivables and payables IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable $19.40M USD 1 Quarter
Deferred income IncreaseDecreaseInDeferredRevenue $1.80M USD 1 Quarter
Deferred income IncreaseDecreaseInDeferredRevenue $-4.80M USD 1 Quarter
Other balance sheet changes IncreaseDecreaseInOtherOperatingCapitalNet $-7.80M USD 1 Quarter
Other balance sheet changes IncreaseDecreaseInOtherOperatingCapitalNet $-30.10M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $230.60M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $197.40M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $42.30M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $49.40M USD 1 Quarter
Purchases of investments PaymentsToAcquireMarketableSecurities $1.25B USD 1 Quarter
Purchases of investments PaymentsToAcquireMarketableSecurities $173.50M USD 1 Quarter
Proceeds from sales and maturities of investments ProceedsFromSaleAndMaturityOfMarketableSecurities $469.80M USD 1 Quarter
Proceeds from sales and maturities of investments ProceedsFromSaleAndMaturityOfMarketableSecurities $308.40M USD 1 Quarter
Acquisitions and ventures PaymentsForProceedsFromBusinessesAndInterestInAffiliates $-900.00K USD 1 Quarter
Acquisitions and ventures PaymentsForProceedsFromBusinessesAndInterestInAffiliates $4.50M USD 1 Quarter
Proceeds from sale of property ProceedsFromSaleOfPropertyPlantAndEquipment $20.00M USD 1 Quarter
Proceeds from sale of property ProceedsFromSaleOfPropertyPlantAndEquipment - USD 1 Quarter
Proceeds from sale of property ProceedsFromSaleOfPropertyPlantAndEquipment $20.80M USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $-827.10M USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $107.20M USD 1 Quarter
Repayments of short-term debt RepaymentsOfShortTermDebt - USD 1 Quarter
Repayments of short-term debt RepaymentsOfShortTermDebt $9.90M USD 1 Quarter
Payments of finance lease obligations FinanceLeasePrincipalPayments $4.90M USD 1 Quarter
Payments of finance lease obligations FinanceLeasePrincipalPayments $5.70M USD 1 Quarter
Payments of dividends PaymentsOfDividendsCommonStock $40.60M USD 1 Quarter
Payments of dividends PaymentsOfDividendsCommonStock $48.80M 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 $191.10M USD 1 Quarter
Proceeds from exercises of stock options ProceedsFromStockOptionsExercised $21.80M USD 1 Quarter
Proceeds from exercises of stock options ProceedsFromStockOptionsExercised - USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-164.40M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-244.80M 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 $5.10M USD 1 Quarter
Net increase (decrease) in cash, cash equivalents, and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $64.90M USD 1 Quarter
Net increase (decrease) in cash, cash equivalents, and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-779.70M USD 1 Quarter
Cash, cash equivalents, and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $626.50M USD Point-in-time
Cash, cash equivalents, and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $691.40M 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 $1.36B USD Point-in-time
Cash, cash equivalents, and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $626.50M USD Point-in-time
Cash, cash equivalents, and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $691.40M 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 $1.36B USD Point-in-time
Stockholders Equity 25 line items
Line Item Tag Value Unit Period
Conversion of Stock, Shares Converted ConversionOfStockSharesConverted1 500,000.00 shares 1 Quarter
Beginning balance StockholdersEquity $3.42B USD Point-in-time
Beginning balance StockholdersEquity $3.29B USD Point-in-time
Beginning balance StockholdersEquity $3.46B USD Point-in-time
Beginning balance StockholdersEquity $3.01B USD Point-in-time
Net income NetIncomeLoss $117.10M USD 1 Quarter
Net income NetIncomeLoss $109.00M USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTax $-5.80M USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTax $-2.90M USD 1 Quarter
Total comprehensive income ComprehensiveIncomeNetOfTax $111.30M USD 1 Quarter
Total comprehensive income ComprehensiveIncomeNetOfTax $106.10M USD 1 Quarter
Dividends declared DividendsCommonStockCash $50.70M USD 1 Quarter
Dividends declared DividendsCommonStockCash $53.10M USD 1 Quarter
Repurchases of common stock TreasuryStockValueAcquiredCostMethod $191.10M USD 1 Quarter
Repurchases of common stock TreasuryStockValueAcquiredCostMethod $130.00M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $23.00M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $21.50M USD 1 Quarter
Shares issued pursuant to stock-based compensation plans StockIssuedDuringPeriodValueShareBasedCompensation $21.80M USD 1 Quarter
Shares issued pursuant to stock-based compensation plans StockIssuedDuringPeriodValueShareBasedCompensation - USD 1 Quarter
Cumulative adjustment from adoption of new accounting standards Cumulativeadjustmentfromadoptionofnewaccountingstandards $-5.10M USD 1 Quarter
Cumulative adjustment from adoption of new accounting standards Cumulativeadjustmentfromadoptionofnewaccountingstandards $-164.50M USD 1 Quarter
Ending balance StockholdersEquity $3.42B USD Point-in-time
Ending balance StockholdersEquity $3.29B USD Point-in-time
Ending balance StockholdersEquity $3.46B USD Point-in-time
Ending balance StockholdersEquity $3.01B USD Point-in-time
Comprehensive Income 12 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $117.10M USD 1 Quarter
Net income NetIncomeLoss $109.00M USD 1 Quarter
Foreign currency translation gains (losses) OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-30.70M USD 1 Quarter
Foreign currency translation gains (losses) OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $4.00M USD 1 Quarter
Net gains (losses) on cash flow hedges OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $27.70M USD 1 Quarter
Net gains (losses) on cash flow hedges OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $-9.70M USD 1 Quarter
Net gains (losses) on defined benefit plans OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $100.00K USD 1 Quarter
Net gains (losses) on defined benefit plans OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-100.00K USD 1 Quarter
Other comprehensive loss, net of tax OtherComprehensiveIncomeLossNetOfTax $-5.80M USD 1 Quarter
Other comprehensive loss, net of tax OtherComprehensiveIncomeLossNetOfTax $-2.90M USD 1 Quarter
Total comprehensive income ComprehensiveIncomeNetOfTax $111.30M 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.

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