10-Q Filing

GUITAR CENTER HOLDINGS, INC. CIK: 1427553 Q3 2011

Filing Information

Form Type	10-Q
Accession Number	`0001047469-11-009476`
Period End Date	20110930
Filing Date	20111114
Fiscal Year	2011
Fiscal Period	Q3
XBRL Instance	gch-20110930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 40 Cash Flow Statement 60

Balance Sheet 80 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$3.03M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$3.13M	USD	Point-in-time
Property and equipment, accumulated depreciation and amortization (in dollars)	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$173.08M	USD	Point-in-time
Property and equipment, accumulated depreciation and amortization (in dollars)	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$208.79M	USD	Point-in-time
Intangible assets, accumulated amortization (in dollars)	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$226.35M	USD	Point-in-time
Intangible assets, accumulated amortization (in dollars)	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$194.01M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$119.70M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$123.10M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$104.56M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$193.77M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $3,129 and $3,030, respectively	`AccountsReceivableNetCurrent`	$35.24M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $3,129 and $3,030, respectively	`AccountsReceivableNetCurrent`	$37.05M	USD	Point-in-time
Merchandise inventories	`InventoryNet`	$501.87M	USD	Point-in-time
Merchandise inventories	`InventoryNet`	$583.68M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$20.73M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$23.39M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$25.60M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	20.00M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$24.94M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$771.81M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.75M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$779.02M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.74M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.75M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.74M	shares	Point-in-time
Property and equipment, net of accumulated depreciation and amortization of $208,790 and $173,077, respectively	`PropertyPlantAndEquipmentNet`	$228.22M	USD	Point-in-time
Property and equipment, net of accumulated depreciation and amortization of $208,790 and $173,077, respectively	`PropertyPlantAndEquipmentNet`	$209.57M	USD	Point-in-time
Goodwill, net	`Goodwill`	$689.40M	USD	Point-in-time
Goodwill, net	`Goodwill`	$689.40M	USD	Point-in-time
Intangible assets, net of accumulated amortization of $226,348 and $194,015, respectively	`IntangibleAssetsNetExcludingGoodwill`	$408.79M	USD	Point-in-time
Intangible assets, net of accumulated amortization of $226,348 and $194,015, respectively	`IntangibleAssetsNetExcludingGoodwill`	$376.45M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$21.55M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$15.29M	USD	Point-in-time
Total assets	`Assets`	$2.12B	USD	Point-in-time
Total assets	`Assets`	$2.07B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$104.71M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$139.15M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$125.79M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$143.22M	USD	Point-in-time
Merchandise advances	`MerchandiseAdvances`	$23.98M	USD	Point-in-time
Merchandise advances	`MerchandiseAdvances`	$27.73M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$641.00K	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$645.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$258.87M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$307.00M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$15.28M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$18.21M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$127.04M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$88.16M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$1.56B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$1.56B	USD	Point-in-time
Total liabilities	`Liabilities`	$1.96B	USD	Point-in-time
Total liabilities	`Liabilities`	$1.98B	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.01 par value, 5,000 shares authorized, none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.01 par value, 5,000 shares authorized, none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.01 par value, 20,000 shares authorized, 9,742 and 9,750 issued and outstanding, respectively	`CommonStockValue`	$98.00K	USD	Point-in-time
Common stock, $0.01 par value, 20,000 shares authorized, 9,742 and 9,750 issued and outstanding, respectively	`CommonStockValue`	$97.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$632.52M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$631.49M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-473.81M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-538.60M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax`	$-383.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax`	$-247.00K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$157.40M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$93.78M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$2.12B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$2.07B	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$488.13M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$1.47B	USD	3 Qtrs
Net sales	`SalesRevenueGoodsNet`	$1.41B	USD	3 Qtrs
Net sales	`SalesRevenueGoodsNet`	$465.01M	USD	1 Quarter
Cost of goods sold, buying and occupancy	`CostOfRevenue`	$330.50M	USD	1 Quarter
Cost of goods sold, buying and occupancy	`CostOfRevenue`	$1.02B	USD	3 Qtrs
Cost of goods sold, buying and occupancy	`CostOfRevenue`	$343.88M	USD	1 Quarter
Cost of goods sold, buying and occupancy	`CostOfRevenue`	$995.54M	USD	3 Qtrs
Gross profit	`GrossProfit`	$144.25M	USD	1 Quarter
Gross profit	`GrossProfit`	$417.84M	USD	3 Qtrs
Gross profit	`GrossProfit`	$445.92M	USD	3 Qtrs
Gross profit	`GrossProfit`	$134.51M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$422.92M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$391.65M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$143.68M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$132.11M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$570.00K	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$2.40M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$26.19M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$23.00M	USD	3 Qtrs
Interest expense	`InterestExpense`	$120.20M	USD	3 Qtrs
Interest expense	`InterestExpense`	$108.08M	USD	3 Qtrs
Interest expense	`InterestExpense`	$36.39M	USD	1 Quarter
Interest expense	`InterestExpense`	$40.91M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$61.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$202.00K	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$37.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$285.00K	USD	3 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-81.61M	USD	3 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-97.00M	USD	3 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-40.30M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-33.93M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-27.43M	USD	3 Qtrs
Income tax benefit	`IncomeTaxExpenseBenefit`	$-10.88M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-32.22M	USD	3 Qtrs
Income tax benefit	`IncomeTaxExpenseBenefit`	$-12.92M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-23.05M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-54.17M	USD	3 Qtrs
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-27.38M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-64.79M	USD	3 Qtrs

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-23.05M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-54.17M	USD	3 Qtrs
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-27.38M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-64.79M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$78.56M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$77.49M	USD	3 Qtrs
Net loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-4.79M	USD	3 Qtrs
Net loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-506.00K	USD	3 Qtrs
Amortization of deferred financing fees	`AmortizationOfFinancingCosts`	$1.90M	USD	3 Qtrs
Amortization of deferred financing fees	`AmortizationOfFinancingCosts`	$2.15M	USD	3 Qtrs
Payment in-kind interest expense	`PaidInKindInterest`	$54.32M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.43M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$1.32M	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-30.70M	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-38.22M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.63M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.48M	USD	3 Qtrs
Merchandise inventories	`IncreaseDecreaseInInventories`	$81.82M	USD	3 Qtrs
Merchandise inventories	`IncreaseDecreaseInInventories`	$23.37M	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.66M	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-13.21M	USD	3 Qtrs
Other assets, net	`IncreaseDecreaseInOtherNoncurrentAssets`	$-40.00K	USD	3 Qtrs
Other assets, net	`IncreaseDecreaseInOtherNoncurrentAssets`	$-112.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$34.44M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$24.65M	USD	3 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-9.93M	USD	3 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$17.43M	USD	3 Qtrs
Merchandise advances	`IncreaseDecreaseInDeferredRevenueAndCustomerAdvancesAndDeposits`	$-2.83M	USD	3 Qtrs
Merchandise advances	`IncreaseDecreaseInDeferredRevenueAndCustomerAdvancesAndDeposits`	$-3.75M	USD	3 Qtrs
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$3.46M	USD	3 Qtrs
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$2.93M	USD	3 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-48.93M	USD	3 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$58.55M	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$35.09M	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$34.34M	USD	3 Qtrs
Acquisition of intangible assets	`PaymentsToAcquireIntangibleAssets`	$250.00K	USD	3 Qtrs
Proceeds from disposal of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$32.00K	USD	3 Qtrs
Proceeds from disposal of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$3.98M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-31.10M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-34.56M	USD	3 Qtrs
Repayment of long-term debt	`RepaymentsOfLongTermDebt`	$20.59M	USD	3 Qtrs
Repayment of long-term debt	`RepaymentsOfLongTermDebt`	$480.00K	USD	3 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$286.00K	USD	3 Qtrs
Financing fees	`PaymentsOfFinancingCosts`	$8.40M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-9.17M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-20.59M	USD	3 Qtrs
Net increase (decrease) in cash	`NetCashProvidedByUsedInContinuingOperations`	$-89.20M	USD	3 Qtrs
Net increase (decrease) in cash	`NetCashProvidedByUsedInContinuingOperations`	$3.40M	USD	3 Qtrs
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$119.70M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$123.10M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$104.56M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$193.77M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$119.70M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$123.10M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$104.56M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$193.77M	USD	Point-in-time
Interest	`InterestPaid`	$86.56M	USD	3 Qtrs
Interest	`InterestPaid`	$41.13M	USD	3 Qtrs
Income taxes	`IncomeTaxesPaid`	$1.85M	USD	3 Qtrs
Income taxes	`IncomeTaxesPaid`	$2.48M	USD	3 Qtrs

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