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10-Q Filing

RALPH LAUREN CORP CIK: 1037038 Q1 2021
Filing Information
Form Type 10-Q
Accession Number 0001037038-20-000023
Period End Date 20200630
Filing Date 20200804
Fiscal Year 2021
Fiscal Period Q1
XBRL Instance rl-20200627x10q_htm.xml
Balance Sheet 73 line items
Line Item Tag Value Unit Period
Allowance on accounts receivable AccountsReceivableReservesAllowancesCurrent $239.90M USD Point-in-time
Allowance on accounts receivable AccountsReceivableReservesAllowancesCurrent $276.20M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $2.45B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.62B USD Point-in-time
Short-term investments ShortTermInvestments $259.30M USD Point-in-time
Short-term investments ShortTermInvestments $495.90M USD Point-in-time
Accounts receivable, net of allowances of $239.9 million and $276.2 million AccountsReceivableNetCurrent $108.70M USD Point-in-time
Accounts receivable, net of allowances of $239.9 million and $276.2 million AccountsReceivableNetCurrent $277.10M USD Point-in-time
Inventories InventoryNet $773.20M USD Point-in-time
Inventories InventoryNet $736.20M USD Point-in-time
Inventories InventoryNet $988.60M USD Point-in-time
Income tax receivable IncomeTaxesReceivable $63.90M USD Point-in-time
Income tax receivable IncomeTaxesReceivable $84.80M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $200.60M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $160.80M USD Point-in-time
Total current assets AssetsCurrent $3.38B USD Point-in-time
Total current assets AssetsCurrent $3.86B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $945.80M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $979.50M USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $1.46B USD Point-in-time
Operating lease right-of-use assets OperatingLeaseRightOfUseAsset $1.51B USD Point-in-time
Deferred tax assets DeferredTaxAssetsGross $245.20M USD Point-in-time
Deferred tax assets DeferredTaxAssetsGross $309.50M USD Point-in-time
Goodwill Goodwill $915.50M USD Point-in-time
Goodwill Goodwill $921.90M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $136.10M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $141.00M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $106.00M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $111.90M USD Point-in-time
Total assets Assets $7.74B USD Point-in-time
Total assets Assets $7.28B USD Point-in-time
Short-term debt ShortTermBorrowings $475.00M USD Point-in-time
Short-term debt ShortTermBorrowings - USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $299.60M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $299.90M USD Point-in-time
Accounts payable AccountsPayableCurrent $144.20M USD Point-in-time
Accounts payable AccountsPayableCurrent $246.80M USD Point-in-time
Income tax payable AccruedIncomeTaxesCurrent $65.10M USD Point-in-time
Income tax payable AccruedIncomeTaxesCurrent $70.90M USD Point-in-time
Current operating lease liabilities OperatingLeaseLiabilityCurrent $288.40M USD Point-in-time
Current operating lease liabilities OperatingLeaseLiabilityCurrent $314.70M USD Point-in-time
Accrued expenses and other current liabilities OtherLiabilitiesCurrent $717.10M USD Point-in-time
Accrued expenses and other current liabilities OtherLiabilitiesCurrent $657.20M USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.49B USD Point-in-time
Total current liabilities LiabilitiesCurrent $2.09B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $396.40M USD Point-in-time
Long-term debt LongTermDebtNoncurrent $1.63B USD Point-in-time
Long-term operating lease liabilities OperatingLeaseLiabilityNoncurrent $1.52B USD Point-in-time
Long-term operating lease liabilities OperatingLeaseLiabilityNoncurrent $1.57B USD Point-in-time
Income tax payable AccruedIncomeTaxesNoncurrent $132.70M USD Point-in-time
Income tax payable AccruedIncomeTaxesNoncurrent $132.70M USD Point-in-time
Non-current liability for unrecognized tax benefits LiabilityForUncertainTaxPositionsNoncurrent $91.70M USD Point-in-time
Non-current liability for unrecognized tax benefits LiabilityForUncertainTaxPositionsNoncurrent $88.90M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $308.50M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $325.80M 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 $5.18B USD Point-in-time
Total liabilities Liabilities $4.59B USD Point-in-time
Additional paid-in-capital AdditionalPaidInCapitalCommonStock $2.59B USD Point-in-time
Additional paid-in-capital AdditionalPaidInCapitalCommonStock $2.61B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $5.87B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $5.99B USD Point-in-time
Treasury stock, Class A, at cost; 57.8 million and 57.3 million shares TreasuryStockValue $5.78B USD Point-in-time
Treasury stock, Class A, at cost; 57.8 million and 57.3 million shares TreasuryStockValue $5.81B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-118.20M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-109.30M USD Point-in-time
Total equity StockholdersEquity $2.56B USD Point-in-time
Total equity StockholdersEquity $3.01B USD Point-in-time
Total equity StockholdersEquity $3.29B USD Point-in-time
Total equity StockholdersEquity $2.69B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $7.28B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $7.74B USD Point-in-time
Income Statement 39 line items
Line Item Tag Value Unit Period
Net revenues Revenues $1.43B USD 1 Quarter
Net revenues Revenues $487.50M USD 1 Quarter
Cost of goods sold CostOfRevenue $508.00M USD 1 Quarter
Cost of goods sold CostOfRevenue $138.80M USD 1 Quarter
Gross profit GrossProfit $348.70M USD 1 Quarter
Gross profit GrossProfit $920.80M USD 1 Quarter
Selling, general, and administrative expenses SellingGeneralAndAdministrativeExpense $507.60M USD 1 Quarter
Selling, general, and administrative expenses SellingGeneralAndAdministrativeExpense $746.70M USD 1 Quarter
Impairment of assets AssetImpairmentCharges $1.20M USD 1 Quarter
Impairment of assets AssetImpairmentCharges $2.10M USD 1 Quarter
Restructuring and other charges Restructuringandothercharges $29.60M USD 1 Quarter
Restructuring and other charges Restructuringandothercharges $7.00M USD 1 Quarter
Total other operating expenses, net OperatingExpenses $516.70M USD 1 Quarter
Total other operating expenses, net OperatingExpenses $777.50M USD 1 Quarter
Operating income (loss) OperatingIncomeLoss $-168.00M USD 1 Quarter
Operating income (loss) OperatingIncomeLoss $143.30M USD 1 Quarter
Interest expense InterestExpense $4.20M USD 1 Quarter
Interest expense InterestExpense $9.60M USD 1 Quarter
Interest income InterestIncomeOther $2.90M USD 1 Quarter
Interest income InterestIncomeOther $11.60M USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $2.10M USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $-4.10M USD 1 Quarter
Income (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-172.60M USD 1 Quarter
Income (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $146.60M USD 1 Quarter
Income tax benefit (provision) IncomeTaxExpenseBenefit $-44.90M USD 1 Quarter
Income tax benefit (provision) IncomeTaxExpenseBenefit $29.50M USD 1 Quarter
Net income (loss) NetIncomeLoss $-127.70M USD 1 Quarter
Net income (loss) NetIncomeLoss $117.10M USD 1 Quarter
Basic EarningsPerShareBasic $1.50 USD 1 Quarter
Basic EarningsPerShareBasic $-1.75 USD 1 Quarter
Diluted EarningsPerShareDiluted $1.47 USD 1 Quarter
Diluted EarningsPerShareDiluted $-1.75 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 73.10M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 78.20M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 73.10M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 79.90M shares 1 Quarter
Dividends declared per share CommonStockDividendsPerShareDeclared - USD 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 70 line items
Line Item Tag Value Unit Period
Net income (loss) NetIncomeLoss $-127.70M USD 1 Quarter
Net income (loss) NetIncomeLoss $117.10M USD 1 Quarter
Depreciation and amortization expense DepreciationDepletionAndAmortization $63.70M USD 1 Quarter
Depreciation and amortization expense DepreciationDepletionAndAmortization $66.20M USD 1 Quarter
Deferred income tax benefit DeferredIncomeTaxExpenseBenefit $-66.90M USD 1 Quarter
Deferred income tax benefit DeferredIncomeTaxExpenseBenefit $-8.10M USD 1 Quarter
Non-cash stock-based compensation expense ShareBasedCompensation $23.00M USD 1 Quarter
Non-cash stock-based compensation expense ShareBasedCompensation $15.10M USD 1 Quarter
Non-cash impairment of assets AssetImpairmentCharges $1.20M USD 1 Quarter
Non-cash impairment of assets AssetImpairmentCharges $2.10M USD 1 Quarter
Bad debt expense (benefit) ProvisionForDoubtfulAccounts $-16.50M USD 1 Quarter
Bad debt expense (benefit) ProvisionForDoubtfulAccounts $100.00K USD 1 Quarter
Other non-cash benefits OtherNoncashIncomeExpense $2.00M USD 1 Quarter
Other non-cash benefits OtherNoncashIncomeExpense - USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-186.30M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-108.60M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $165.70M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $29.00M USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $48.80M USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $37.40M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $82.90M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-119.20M USD 1 Quarter
Income tax receivables and payables IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable $13.30M USD 1 Quarter
Income tax receivables and payables IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable $35.20M USD 1 Quarter
Deferred income IncreaseDecreaseInDeferredRevenue $300.00K USD 1 Quarter
Deferred income IncreaseDecreaseInDeferredRevenue $1.80M USD 1 Quarter
Other balance sheet changes IncreaseDecreaseInOtherOperatingCapitalNet $-23.70M USD 1 Quarter
Other balance sheet changes IncreaseDecreaseInOtherOperatingCapitalNet $-7.80M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $-70.30M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $197.40M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $21.30M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $49.40M USD 1 Quarter
Purchases of investments PaymentsToAcquireMarketableSecurities $173.50M USD 1 Quarter
Purchases of investments PaymentsToAcquireMarketableSecurities $63.60M USD 1 Quarter
Proceeds from sales and maturities of investments ProceedsFromSaleAndMaturityOfMarketableSecurities $308.40M USD 1 Quarter
Proceeds from sales and maturities of investments ProceedsFromSaleAndMaturityOfMarketableSecurities $301.90M USD 1 Quarter
Acquisitions and ventures PaymentsForProceedsFromBusinessesAndInterestInAffiliates $-900.00K USD 1 Quarter
Acquisitions and ventures PaymentsForProceedsFromBusinessesAndInterestInAffiliates - USD 1 Quarter
Proceeds from sale of property ProceedsFromSaleOfPropertyPlantAndEquipment - USD 1 Quarter
Proceeds from sale of property ProceedsFromSaleOfPropertyPlantAndEquipment $20.80M USD 1 Quarter
Settlement of net investment hedges ProceedsFromHedgeInvestingActivities $3.70M USD 1 Quarter
Settlement of net investment hedges ProceedsFromHedgeInvestingActivities - USD 1 Quarter
Net cash provided by investing activities NetCashProvidedByUsedInInvestingActivities $220.70M USD 1 Quarter
Net cash provided by investing activities NetCashProvidedByUsedInInvestingActivities $107.20M USD 1 Quarter
Repayments of borrowings on credit facilities RepaymentsOfShortTermDebt - USD 1 Quarter
Repayments of borrowings on credit facilities RepaymentsOfShortTermDebt $475.00M USD 1 Quarter
Proceeds from issuance of long-term debt ProceedsFromIssuanceOfLongTermDebt $1.24B USD 1 Quarter
Proceeds from issuance of long-term debt ProceedsFromIssuanceOfLongTermDebt - USD 1 Quarter
Payments of finance lease obligations FinanceLeasePrincipalPayments $4.90M USD 1 Quarter
Payments of finance lease obligations FinanceLeasePrincipalPayments $1.60M USD 1 Quarter
Payments of dividends PaymentsOfDividendsCommonStock $48.80M USD 1 Quarter
Payments of dividends PaymentsOfDividendsCommonStock $49.80M USD 1 Quarter
Repurchases of common stock, including shares surrendered for tax withholdings PaymentsForRepurchaseOfCommonStock $191.10M USD 1 Quarter
Repurchases of common stock, including shares surrendered for tax withholdings PaymentsForRepurchaseOfCommonStock $33.90M USD 1 Quarter
Other financing activities ProceedsFromPaymentsForOtherFinancingActivities $-8.50M USD 1 Quarter
Other financing activities ProceedsFromPaymentsForOtherFinancingActivities - USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $673.10M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-244.80M USD 1 Quarter
Effect of exchange rate changes on cash, cash equivalents, and restricted cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $7.60M USD 1 Quarter
Effect of exchange rate changes on cash, cash equivalents, and restricted cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $5.10M USD 1 Quarter
Net increase in cash, cash equivalents, and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $831.10M USD 1 Quarter
Net increase in cash, cash equivalents, and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $64.90M USD 1 Quarter
Cash, cash equivalents, and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.46B 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 $1.63B USD Point-in-time
Cash, cash equivalents, and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $626.50M USD Point-in-time
Cash, cash equivalents, and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.46B 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 $1.63B USD Point-in-time
Cash, cash equivalents, and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $626.50M USD Point-in-time
Stockholders Equity 24 line items
Line Item Tag Value Unit Period
Conversion of Stock, Shares Converted ConversionOfStockSharesConverted1 500,000.00 shares 1 Quarter
Beginning balance StockholdersEquity $2.56B USD Point-in-time
Beginning balance StockholdersEquity $3.01B USD Point-in-time
Beginning balance StockholdersEquity $3.29B USD Point-in-time
Beginning balance StockholdersEquity $2.69B USD Point-in-time
Net income (loss) NetIncomeLoss $-127.70M USD 1 Quarter
Net income (loss) NetIncomeLoss $117.10M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-5.80M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $8.90M USD 1 Quarter
Total comprehensive income (loss) ComprehensiveIncomeNetOfTax $111.30M USD 1 Quarter
Total comprehensive income (loss) ComprehensiveIncomeNetOfTax $-118.80M USD 1 Quarter
Dividends declared DividendsCommonStockCash - 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 $33.90M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $23.00M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $15.10M USD 1 Quarter
Shares issued pursuant to stock-based compensation plans StockIssuedDuringPeriodValueShareBasedCompensation - USD 1 Quarter
Shares issued pursuant to stock-based compensation plans StockIssuedDuringPeriodValueShareBasedCompensation - USD 1 Quarter
Cumulative adjustment from adoption of new accounting standards Cumulativeadjustmentfromadoptionofnewaccountingstandards $-164.50M USD 1 Quarter
Ending balance StockholdersEquity $2.56B USD Point-in-time
Ending balance StockholdersEquity $3.01B USD Point-in-time
Ending balance StockholdersEquity $3.29B USD Point-in-time
Ending balance StockholdersEquity $2.69B USD Point-in-time
Comprehensive Income 12 line items
Line Item Tag Value Unit Period
Net income (loss) NetIncomeLoss $-127.70M USD 1 Quarter
Net income (loss) NetIncomeLoss $117.10M USD 1 Quarter
Foreign currency translation gains OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $4.00M USD 1 Quarter
Foreign currency translation gains OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $13.00M USD 1 Quarter
Net losses on cash flow hedges OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $-9.70M USD 1 Quarter
Net losses on cash flow hedges OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $-4.00M USD 1 Quarter
Net losses on defined benefit plans OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $100.00K USD 1 Quarter
Net losses on defined benefit plans OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $100.00K USD 1 Quarter
Other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTax $-5.80M USD 1 Quarter
Other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTax $8.90M USD 1 Quarter
Total comprehensive income (loss) ComprehensiveIncomeNetOfTax $111.30M USD 1 Quarter
Total comprehensive income (loss) ComprehensiveIncomeNetOfTax $-118.80M USD 1 Quarter

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

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