10-Q Filing

GUITAR CENTER HOLDINGS, INC. CIK: 1427553 Q2 2012

Filing Information

Form Type	10-Q
Accession Number	`0001104659-12-057305`
Period End Date	20120630
Filing Date	20120813
Fiscal Year	2012
Fiscal Period	Q2
XBRL Instance	gch-20120630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 48 Cash Flow Statement 67 Comprehensive Income 4

Balance Sheet 80 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$2.98M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$3.52M	USD	Point-in-time
Property and equipment, accumulated depreciation and amortization (in dollars)	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$194.76M	USD	Point-in-time
Property and equipment, accumulated depreciation and amortization (in dollars)	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$224.00M	USD	Point-in-time
Intangible assets, accumulated amortization (in dollars)	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$185.75M	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`	$106.04M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$17.17M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$104.04M	USD	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 authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $3,517 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 issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $3,517 and $2,979, respectively	`AccountsReceivableNetCurrent`	$39.58M	USD	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`	$619.17M	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`	$26.98M	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`	$27.35M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetCurrent`	$937.00K	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`	$2.95M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$726.65M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.74M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	9.74M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$706.22M	USD	Point-in-time
Property and equipment, net of accumulated depreciation and amortization of $224,005 and $194,763, respectively	`PropertyPlantAndEquipmentNet`	$209.10M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	9.74M	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 $224,005 and $194,763, respectively	`PropertyPlantAndEquipmentNet`	$211.48M	USD	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 $185,755 and $171,259, respectively	`IntangibleAssetsNetExcludingGoodwill`	$305.44M	USD	Point-in-time
Intangible assets, net of accumulated amortization of $185,755 and $171,259, respectively	`IntangibleAssetsNetExcludingGoodwill`	$320.14M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$20.05M	USD	Point-in-time
Other assets, net	`OtherAssetsNoncurrent`	$20.80M	USD	Point-in-time
Total assets	`Assets`	$1.83B	USD	Point-in-time
Total assets	`Assets`	$1.86B	USD	Point-in-time
Total assets	`Assets`	$2.05B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$120.01M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$152.93M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$128.79M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$106.27M	USD	Point-in-time
Merchandise advances	`MerchandiseAdvances`	$30.98M	USD	Point-in-time
Merchandise advances	`MerchandiseAdvances`	$29.29M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$132.80M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$646.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$280.43M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$421.28M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$19.63M	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`	$1.43B	USD	Point-in-time
Total liabilities	`Liabilities`	$1.95B	USD	Point-in-time
Total liabilities	`Liabilities`	$1.94B	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, 9,740 and 9,742, respectively, issued and outstanding	`CommonStockValue`	$97.00K	USD	Point-in-time
Common stock, $0.01 par value, 20,000 shares authorized, 9,740 and 9,742, respectively, issued and outstanding	`CommonStockValue`	$97.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$633.23M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$632.76M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-710.75M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-755.72M	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`	$-122.40M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$1.83B	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$1.86B	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$1.01B	USD	2 Qtrs
Net sales	`SalesRevenueGoodsNet`	$479.05M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$486.60M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$981.85M	USD	2 Qtrs
Cost of goods sold, buying and occupancy	`CostOfRevenue`	$680.19M	USD	2 Qtrs
Cost of goods sold, buying and occupancy	`CostOfRevenue`	$333.50M	USD	1 Quarter
Cost of goods sold, buying and occupancy	`CostOfRevenue`	$704.71M	USD	2 Qtrs
Cost of goods sold, buying and occupancy	`CostOfRevenue`	$340.14M	USD	1 Quarter
Gross profit	`GrossProfit`	$146.46M	USD	1 Quarter
Gross profit	`GrossProfit`	$145.55M	USD	1 Quarter
Gross profit	`GrossProfit`	$301.66M	USD	2 Qtrs
Gross profit	`GrossProfit`	$310.04M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$271.62M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$143.75M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$133.57M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$279.24M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$12.89M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$38.42M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$1.79M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$22.43M	USD	2 Qtrs
Interest expense	`InterestExpense`	$79.29M	USD	2 Qtrs
Interest expense	`InterestExpense`	$40.77M	USD	1 Quarter
Interest expense	`InterestExpense`	$82.55M	USD	2 Qtrs
Interest expense	`InterestExpense`	$41.35M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$26.00K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$9.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$165.00K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$61.00K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-28.45M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-38.91M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-44.10M	USD	2 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-56.70M	USD	2 Qtrs
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$871.00K	USD	2 Qtrs
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$310.00K	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-12.96M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-19.30M	USD	2 Qtrs
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-25.95M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-28.76M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-37.40M	USD	2 Qtrs
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-44.97M	USD	2 Qtrs
Other comprehensive income, net of income tax expense of $203, $8, $231 and $15, respectively	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$25.00K	USD	2 Qtrs
Other comprehensive income, net of income tax expense of $203, $8, $231 and $15, respectively	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$119.00K	USD	1 Quarter
Other comprehensive income, net of income tax expense of $203, $8, $231 and $15, respectively	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$173.00K	USD	2 Qtrs
Other comprehensive income, net of income tax expense of $203, $8, $231 and $15, respectively	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$13.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-25.94M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-44.80M	USD	2 Qtrs
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-28.64M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-37.38M	USD	2 Qtrs

Cash Flow Statement 67 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-25.95M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-28.76M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-37.40M	USD	2 Qtrs
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-44.97M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$50.99M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$22.09M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$44.74M	USD	2 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$25.69M	USD	1 Quarter
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-4.61M	USD	2 Qtrs
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-4.00K	USD	2 Qtrs
Amortization of deferred financing fees	`AmortizationOfFinancingCosts`	$1.41M	USD	2 Qtrs
Amortization of deferred financing fees	`AmortizationOfFinancingCosts`	$800.00K	USD	1 Quarter
Amortization of deferred financing fees	`AmortizationOfFinancingCosts`	$700.00K	USD	1 Quarter
Amortization of deferred financing fees	`AmortizationOfFinancingCosts`	$1.59M	USD	2 Qtrs
Non-cash interest expense	`PaidInKindInterest`	$8.69M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$508.00K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$863.00K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-735.00K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-21.82M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.78M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-5.15M	USD	2 Qtrs
Merchandise inventories	`IncreaseDecreaseInInventories`	$71.21M	USD	2 Qtrs
Merchandise inventories	`IncreaseDecreaseInInventories`	$51.22M	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.05M	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$3.23M	USD	2 Qtrs
Other assets, net	`IncreaseDecreaseInOtherNoncurrentAssets`	$89.00K	USD	2 Qtrs
Other assets, net	`IncreaseDecreaseInOtherNoncurrentAssets`	$-326.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$32.92M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$18.15M	USD	2 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-21.95M	USD	2 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-30.81M	USD	2 Qtrs
Merchandise advances	`IncreaseDecreaseInDeferredRevenueAndCustomerAdvancesAndDeposits`	$-1.69M	USD	2 Qtrs
Merchandise advances	`IncreaseDecreaseInDeferredRevenueAndCustomerAdvancesAndDeposits`	$-3.60M	USD	2 Qtrs
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$937.00K	USD	2 Qtrs
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-520.00K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-59.44M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-58.20M	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$12.62M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$21.64M	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$20.60M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$32.47M	USD	2 Qtrs
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$30.00K	USD	2 Qtrs
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$2.90M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-29.56M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-21.61M	USD	2 Qtrs
Repayment of long-term debt	`RepaymentsOfLongTermDebt`	$322.00K	USD	2 Qtrs
Repayment of long-term debt	`RepaymentsOfLongTermDebt`	$319.00K	USD	2 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$195.00K	USD	2 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$39.00K	USD	2 Qtrs
Financing fees	`PaymentsOfFinancingCosts`	$8.16M	USD	2 Qtrs
Financing fees	`PaymentsOfFinancingCosts`	$742.00K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-8.68M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-1.10M	USD	2 Qtrs
Net decrease in cash	`NetCashProvidedByUsedInContinuingOperations`	$-88.86M	USD	2 Qtrs
Net decrease in cash	`NetCashProvidedByUsedInContinuingOperations`	$-89.73M	USD	2 Qtrs
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$106.04M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$17.17M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$104.04M	USD	Point-in-time
Cash at beginning 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`	$17.17M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$104.04M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$193.77M	USD	Point-in-time
Interest	`InterestPaid`	$80.61M	USD	2 Qtrs
Interest	`InterestPaid`	$77.26M	USD	2 Qtrs
Income taxes	`IncomeTaxesPaid`	$1.94M	USD	2 Qtrs
Income taxes	`IncomeTaxesPaid`	$1.74M	USD	2 Qtrs

Comprehensive Income 4 line items

Line Item	Tag	Value	Unit	Period
Other comprehensive income, income tax expense (in dollars)	`OtherComprehensiveIncomeLossTaxPortionAttributableToParent1`	$8.00K	USD	1 Quarter
Other comprehensive income, income tax expense (in dollars)	`OtherComprehensiveIncomeLossTaxPortionAttributableToParent1`	$203.00K	USD	1 Quarter
Other comprehensive income, income tax expense (in dollars)	`OtherComprehensiveIncomeLossTaxPortionAttributableToParent1`	$231.00K	USD	2 Qtrs
Other comprehensive income, income tax expense (in dollars)	`OtherComprehensiveIncomeLossTaxPortionAttributableToParent1`	$15.00K	USD	2 Qtrs

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