10-Q Filing

GUITAR CENTER HOLDINGS, INC. CIK: 1427553 Q1 2012

Filing Information

Form Type	10-Q
Accession Number	`0001104659-12-036840`
Period End Date	20120331
Filing Date	20120514
Fiscal Year	2012
Fiscal Period	Q1
XBRL Instance	gch-20120331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 26 Cash Flow Statement 56 Comprehensive Income 26

Balance Sheet 80 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$3.14M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$2.98M	USD	Point-in-time
Property and equipment, accumulated depreciation and amortization (in dollars)	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$209.30M	USD	Point-in-time
Property and equipment, accumulated depreciation and amortization (in dollars)	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$194.76M	USD	Point-in-time
Intangible assets, accumulated amortization (in dollars)	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$178.46M	USD	Point-in-time
Intangible assets, accumulated amortization (in dollars)	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$171.26M	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`	$197.36M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$193.77M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$106.04M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$138.48M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $3,136 and $2,979, respectively	`AccountsReceivableNetCurrent`	$39.46M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $3,136 and $2,979, respectively	`AccountsReceivableNetCurrent`	$44.73M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Merchandise inventories	`InventoryNet`	$547.96M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Merchandise inventories	`InventoryNet`	$564.73M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$31.94M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$26.98M	USD	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
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$937.00K	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$2.68M	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
Total current assets	`AssetsCurrent`	$726.65M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.74M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$777.30M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.74M	shares	Point-in-time
Property and equipment, net of accumulated depreciation and amortization of $209,303 and $194,763, respectively	`PropertyPlantAndEquipmentNet`	$209.10M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.74M	shares	Point-in-time
Property and equipment, net of accumulated depreciation and amortization of $209,303 and $194,763, respectively	`PropertyPlantAndEquipmentNet`	$205.69M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.74M	shares	Point-in-time
Goodwill, net	`Goodwill`	$582.38M	USD	Point-in-time
Goodwill, net	`Goodwill`	$582.38M	USD	Point-in-time
Intangible assets, net of accumulated amortization of $178,464 and $171,259, respectively	`IntangibleAssetsNetExcludingGoodwill`	$312.74M	USD	Point-in-time
Intangible assets, net of accumulated amortization of $178,464 and $171,259, respectively	`IntangibleAssetsNetExcludingGoodwill`	$320.14M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$20.75M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$20.80M	USD	Point-in-time
Total assets	`Assets`	$1.90B	USD	Point-in-time
Total assets	`Assets`	$1.86B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$120.01M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$165.02M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$128.79M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$140.33M	USD	Point-in-time
Merchandise advances	`MerchandiseAdvances`	$29.27M	USD	Point-in-time
Merchandise advances	`MerchandiseAdvances`	$30.98M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$646.00K	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$1.55M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$336.16M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$280.43M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$18.19M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$18.69M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$78.04M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$76.53M	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$1.56B	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$1.56B	USD	Point-in-time
Total liabilities	`Liabilities`	$1.94B	USD	Point-in-time
Total liabilities	`Liabilities`	$1.99B	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 issued and outstanding	`CommonStockValue`	$97.00K	USD	Point-in-time
Common stock, $0.01 par value, 20,000 shares authorized, 9,742 issued and outstanding	`CommonStockValue`	$97.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$632.76M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$633.01M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-710.75M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-726.96M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax`	$-119.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax`	$-173.00K	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-78.07M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-93.97M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$1.90B	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$1.86B	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Income tax expense on other comprehensive income	`OtherComprehensiveIncomeLossTaxPortionAttributableToParent`	$-28.00K	USD	1 Quarter
Income tax expense on other comprehensive income	`OtherComprehensiveIncomeLossTaxPortionAttributableToParent`	$-7.00K	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$502.80M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$528.15M	USD	1 Quarter
Cost of goods sold, buying and occupancy	`CostOfRevenue`	$346.69M	USD	1 Quarter
Cost of goods sold, buying and occupancy	`CostOfRevenue`	$364.57M	USD	1 Quarter
Gross profit	`GrossProfit`	$156.12M	USD	1 Quarter
Gross profit	`GrossProfit`	$163.58M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$135.49M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$138.05M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$20.63M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$25.52M	USD	1 Quarter
Interest expense	`InterestExpense`	$38.53M	USD	1 Quarter
Interest expense	`InterestExpense`	$41.19M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$104.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$18.00K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-15.65M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-17.79M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$561.00K	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-6.34M	USD	1 Quarter
Net income (loss)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-11.45M	USD	1 Quarter
Net income (loss)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-16.21M	USD	1 Quarter
Other comprehensive income, net of income tax expense of $28 and $7, respectively	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$54.00K	USD	1 Quarter
Other comprehensive income, net of income tax expense of $28 and $7, respectively	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$12.00K	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-11.44M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-16.16M	USD	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-11.45M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-16.21M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$25.29M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$22.64M	USD	1 Quarter
(Gain) loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-4.00K	USD	1 Quarter
(Gain) loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$16.00K	USD	1 Quarter
Amortization of deferred financing fees	`AmortizationOfFinancingCosts`	$784.00K	USD	1 Quarter
Amortization of deferred financing fees	`AmortizationOfFinancingCosts`	$669.00K	USD	1 Quarter
Non-cash interest expense	`PaidInKindInterest`	$82.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$394.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$254.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-262.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-7.67M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-5.27M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-7.99M	USD	1 Quarter
Merchandise inventories	`IncreaseDecreaseInInventories`	$12.40M	USD	1 Quarter
Merchandise inventories	`IncreaseDecreaseInInventories`	$16.77M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$4.96M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$890.00K	USD	1 Quarter
Other assets, net	`IncreaseDecreaseInOtherNoncurrentAssets`	$-65.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$45.01M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$16.75M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$6.74M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$11.54M	USD	1 Quarter
Merchandise advances	`IncreaseDecreaseInDeferredRevenueAndCustomerAdvancesAndDeposits`	$-1.71M	USD	1 Quarter
Merchandise advances	`IncreaseDecreaseInDeferredRevenueAndCustomerAdvancesAndDeposits`	$-3.36M	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-501.00K	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-1.20M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$45.17M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$20.92M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$11.86M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$9.02M	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$21.00K	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$29.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-9.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-11.84M	USD	1 Quarter
Repayment of long-term debt	`RepaymentsOfLongTermDebt`	$161.00K	USD	1 Quarter
Repayment of long-term debt	`RepaymentsOfLongTermDebt`	$160.00K	USD	1 Quarter
Financing fees	`PaymentsOfFinancingCosts`	$8.16M	USD	1 Quarter
Financing fees	`PaymentsOfFinancingCosts`	$731.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-8.32M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-892.00K	USD	1 Quarter
Net increase in cash	`NetCashProvidedByUsedInContinuingOperations`	$32.45M	USD	1 Quarter
Net increase in cash	`NetCashProvidedByUsedInContinuingOperations`	$3.59M	USD	1 Quarter
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$197.36M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$193.77M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$106.04M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$138.48M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$197.36M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$193.77M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$106.04M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$138.48M	USD	Point-in-time
Interest	`InterestPaid`	$9.59M	USD	1 Quarter
Interest	`InterestPaid`	$6.76M	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	$303.00K	USD	1 Quarter
Income taxes	`IncomeTaxesPaid`	$443.00K	USD	1 Quarter

Comprehensive Income 26 line items

Line Item	Tag	Value	Unit	Period
Income tax expense on other comprehensive income	`OtherComprehensiveIncomeLossTaxPortionAttributableToParent`	$-28.00K	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$502.80M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$528.15M	USD	1 Quarter
Income tax expense on other comprehensive income	`OtherComprehensiveIncomeLossTaxPortionAttributableToParent`	$-7.00K	USD	1 Quarter
Cost of goods sold, buying and occupancy	`CostOfRevenue`	$346.69M	USD	1 Quarter
Cost of goods sold, buying and occupancy	`CostOfRevenue`	$364.57M	USD	1 Quarter
Gross profit	`GrossProfit`	$156.12M	USD	1 Quarter
Gross profit	`GrossProfit`	$163.58M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$135.49M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$138.05M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$20.63M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$25.52M	USD	1 Quarter
Interest expense	`InterestExpense`	$38.53M	USD	1 Quarter
Interest expense	`InterestExpense`	$41.19M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$104.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$18.00K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-15.65M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-17.79M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$561.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$-6.34M	USD	1 Quarter
Net income (loss)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-11.45M	USD	1 Quarter
Net income (loss)	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-16.21M	USD	1 Quarter
Other comprehensive income, net of income tax expense of $28 and $7, respectively	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$54.00K	USD	1 Quarter
Other comprehensive income, net of income tax expense of $28 and $7, respectively	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$12.00K	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-11.44M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-16.16M	USD	1 Quarter

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