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10-Q Filing

WINMARK CORP CIK: 908315 Q1 2016
Filing Information
Form Type 10-Q
Accession Number 0001104659-16-113086
Period End Date 20160331
Filing Date 20160421
Fiscal Year 2016
Fiscal Period Q1
XBRL Instance wina-20160326.xml
Filing Contents
Balance Sheet 75 line items
Line Item Tag Value Unit Period
Receivables, allowance for doubtful accounts (in dollars) AllowanceForDoubtfulAccountsReceivableCurrent $200.00 USD Point-in-time
Receivables, allowance for doubtful accounts (in dollars) AllowanceForDoubtfulAccountsReceivableCurrent $2.20K USD Point-in-time
Unamortized debt issuance costs - Current DeferredFinanceCostsCurrentNet $10.00K USD Point-in-time
Unamortized debt issuance costs - Current DeferredFinanceCostsCurrentNet $10.00K USD Point-in-time
Unamortized debt issuance costs - Noncurrent DeferredFinanceCostsNoncurrentNet $83.50K USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $2.09M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.01M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.21M USD Point-in-time
Unamortized debt issuance costs - Noncurrent DeferredFinanceCostsNoncurrentNet $81.00K USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $2.16M USD Point-in-time
Common stock, par value (in dollars per share) CommonStockNoParValue - USD Point-in-time
Common stock, par value (in dollars per share) CommonStockNoParValue - USD Point-in-time
Marketable securities AvailableForSaleSecuritiesEquitySecuritiesCurrent $227.80K USD Point-in-time
Marketable securities AvailableForSaleSecuritiesEquitySecuritiesCurrent $220.10K USD Point-in-time
Receivables, less allowance for doubtful accounts of $2,200 and $200 ReceivablesNetCurrent $1.35M USD Point-in-time
Receivables, less allowance for doubtful accounts of $2,200 and $200 ReceivablesNetCurrent $1.42M USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 10.00M shares Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 10.00M shares Point-in-time
Common stock, shares issued CommonStockSharesIssued 4.11M shares Point-in-time
Common stock, shares issued CommonStockSharesIssued 4.12M shares Point-in-time
Restricted cash RestrictedCashAndCashEquivalentsAtCarryingValue $25.00K USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalentsAtCarryingValue $15.00K USD Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 4.12M shares Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 4.11M shares Point-in-time
Net investment in leases - current NetInvestmentInLeasesCurrent $18.12M USD Point-in-time
Net investment in leases - current NetInvestmentInLeasesCurrent $17.74M USD Point-in-time
Income tax receivable IncomeTaxesReceivable $3.29M USD Point-in-time
Inventories InventoryNet $80.30K USD Point-in-time
Inventories InventoryNet $45.20K USD Point-in-time
Prepaid expenses PrepaidExpenseCurrent $946.30K USD Point-in-time
Prepaid expenses PrepaidExpenseCurrent $677.80K USD Point-in-time
Total current assets AssetsCurrent $21.94M USD Point-in-time
Total current assets AssetsCurrent $24.43M USD Point-in-time
Net investment in leases - long-term NetInvestmentInLeasesNoncurrent $21.25M USD Point-in-time
Net investment in leases - long-term NetInvestmentInLeasesNoncurrent $20.17M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $1.12M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $1.03M USD Point-in-time
Goodwill Goodwill $607.50K USD Point-in-time
Goodwill Goodwill $607.50K USD Point-in-time
Total assets Assets $43.76M USD Point-in-time
Total assets Assets $47.41M USD Point-in-time
Total assets Assets $47.41M USD Point-in-time
Notes payable, net of unamortized debt issuance costs of $10,000 and $10,000 NotesPayableCurrent $1.99M USD Point-in-time
Notes payable, net of unamortized debt issuance costs of $10,000 and $10,000 NotesPayableCurrent $1.99M USD Point-in-time
Accounts payable AccountsPayableCurrent $2.07M USD Point-in-time
Accounts payable AccountsPayableCurrent $1.64M USD Point-in-time
Income tax payable AccruedIncomeTaxesCurrent $1.61M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $2.26M USD Point-in-time
Accrued liabilities AccruedLiabilitiesCurrent $1.88M USD Point-in-time
Discounted lease rentals SecuredDebtCurrent $38.70K USD Point-in-time
Deferred revenue DeferredRevenueCurrent $1.96M USD Point-in-time
Deferred revenue DeferredRevenueCurrent $2.02M USD Point-in-time
Total current liabilities LiabilitiesCurrent $9.95M USD Point-in-time
Total current liabilities LiabilitiesCurrent $7.51M USD Point-in-time
Line of credit LongTermLineOfCredit $42.40M USD Point-in-time
Line of credit LongTermLineOfCredit $33.50M USD Point-in-time
Notes payable, net of unamortized debt issuance costs of $81,000 and $83,500 LongTermNotesPayable $21.42M USD Point-in-time
Notes payable, net of unamortized debt issuance costs of $81,000 and $83,500 LongTermNotesPayable $21.92M USD Point-in-time
Deferred revenue DeferredRevenueNoncurrent $1.38M USD Point-in-time
Deferred revenue DeferredRevenueNoncurrent $1.42M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $1.22M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $1.16M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $3.61M USD Point-in-time
Deferred income taxes DeferredTaxLiabilitiesNoncurrent $3.61M USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $70.57M USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $61.07M USD Point-in-time
Common stock, no par, 10,000,000 shares authorized, 4,110,805 and 4,124,767 shares issued and outstanding CommonStockValue $406.50K USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-23.20K USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-32.90K USD Point-in-time
Retained earnings (accumulated deficit) RetainedEarningsAccumulatedDeficit $-31.05M USD Point-in-time
Retained earnings (accumulated deficit) RetainedEarningsAccumulatedDeficit $-27.23M USD Point-in-time
Total shareholders' equity (deficit) StockholdersEquity $-27.26M USD Point-in-time
Total shareholders' equity (deficit) StockholdersEquity $-30.67M USD Point-in-time
Total liabilities and shareholders' equity (deficit) LiabilitiesAndStockholdersEquity $47.41M USD Point-in-time
Total liabilities and shareholders' equity (deficit) LiabilitiesAndStockholdersEquity $43.76M USD Point-in-time
Income Statement 40 line items
Line Item Tag Value Unit Period
Royalties RoyaltyRevenue $9.73M USD 1 Quarter
Royalties RoyaltyRevenue $10.27M USD 1 Quarter
Leasing income CapitalLeasesIncomeStatementLeaseRevenue $4.51M USD 1 Quarter
Leasing income CapitalLeasesIncomeStatementLeaseRevenue $10.01M USD 1 Quarter
Merchandise sales SalesRevenueGoodsNet $737.10K USD 1 Quarter
Merchandise sales SalesRevenueGoodsNet $733.70K USD 1 Quarter
Franchise fees FranchiseRevenue $372.50K USD 1 Quarter
Franchise fees FranchiseRevenue $294.40K USD 1 Quarter
Other OtherSalesRevenueNet $260.20K USD 1 Quarter
Other OtherSalesRevenueNet $285.50K USD 1 Quarter
Total revenue Revenues $21.02M USD 1 Quarter
Total revenue Revenues $16.18M USD 1 Quarter
COST OF MERCHANDISE SOLD CostOfGoodsSold $698.20K USD 1 Quarter
COST OF MERCHANDISE SOLD CostOfGoodsSold $697.40K USD 1 Quarter
LEASING EXPENSE LeasingExpense $4.26M USD 1 Quarter
LEASING EXPENSE LeasingExpense $904.10K USD 1 Quarter
PROVISION FOR CREDIT LOSSES ProvisionForLoanAndLeaseLosses $-69.10K USD 1 Quarter
PROVISION FOR CREDIT LOSSES ProvisionForLoanAndLeaseLosses $-14.40K USD 1 Quarter
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES SellingGeneralAndAdministrativeExpense $6.16M USD 1 Quarter
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES SellingGeneralAndAdministrativeExpense $6.55M USD 1 Quarter
Income from operations OperatingIncomeLoss $9.97M USD 1 Quarter
Income from operations OperatingIncomeLoss $8.04M USD 1 Quarter
INTEREST EXPENSE InterestExpense $640.70K USD 1 Quarter
INTEREST EXPENSE InterestExpense $85.70K USD 1 Quarter
INTEREST AND OTHER INCOME (EXPENSE) InterestIncomeExpenseNet $-10.50K USD 1 Quarter
INTEREST AND OTHER INCOME (EXPENSE) InterestIncomeExpenseNet $-59.10K USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $9.83M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $7.39M USD 1 Quarter
PROVISION FOR INCOME TAXES IncomeTaxExpenseBenefit $3.77M USD 1 Quarter
PROVISION FOR INCOME TAXES IncomeTaxExpenseBenefit $2.82M USD 1 Quarter
NET INCOME NetIncomeLossAvailableToCommonStockholdersBasic $4.56M USD 1 Quarter
NET INCOME NetIncomeLossAvailableToCommonStockholdersBasic $6.05M USD 1 Quarter
EARNINGS PER SHARE - BASIC (in dollars per share) EarningsPerShareBasic $1.21 USD 1 Quarter
EARNINGS PER SHARE - BASIC (in dollars per share) EarningsPerShareBasic $1.11 USD 1 Quarter
EARNINGS PER SHARE - DILUTED (in dollars per share) EarningsPerShareDiluted $1.17 USD 1 Quarter
EARNINGS PER SHARE - DILUTED (in dollars per share) EarningsPerShareDiluted $1.06 USD 1 Quarter
WEIGHTED AVERAGE SHARES OUTSTANDING - BASIC (in shares) WeightedAverageNumberOfSharesOutstandingBasic 4.11M shares 1 Quarter
WEIGHTED AVERAGE SHARES OUTSTANDING - BASIC (in shares) WeightedAverageNumberOfSharesOutstandingBasic 5.00M shares 1 Quarter
WEIGHTED AVERAGE SHARES OUTSTANDING - DILUTED (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 5.17M shares 1 Quarter
WEIGHTED AVERAGE SHARES OUTSTANDING - DILUTED (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 4.31M shares 1 Quarter
Cash Flow Statement 75 line items
Line Item Tag Value Unit Period
Net Income NetIncomeLossAvailableToCommonStockholdersBasic $4.56M USD 1 Quarter
Net Income NetIncomeLossAvailableToCommonStockholdersBasic $6.05M USD 1 Quarter
Depreciation DepreciationDepletionAndAmortization $107.60K USD 1 Quarter
Depreciation DepreciationDepletionAndAmortization $109.20K USD 1 Quarter
Provision for credit losses ProvisionForLoanAndLeaseLosses $-69.10K USD 1 Quarter
Provision for credit losses ProvisionForLoanAndLeaseLosses $-14.40K USD 1 Quarter
Compensation expense related to stock options ShareBasedCompensation $449.80K USD 1 Quarter
Compensation expense related to stock options ShareBasedCompensation $405.30K USD 1 Quarter
Deferred income taxes IncreaseDecreaseInDeferredIncomeTaxes $1.03M USD 1 Quarter
Loss on sale of marketable securities AvailableForSaleSecuritiesGrossRealizedGainLossNet $-22.80K USD 1 Quarter
Loss on sale of marketable securities AvailableForSaleSecuritiesGrossRealizedGainLossNet $-6.20K USD 1 Quarter
Deferred initial direct costs DeferredInitialDirectCosts $154.90K USD 1 Quarter
Deferred initial direct costs DeferredInitialDirectCosts $180.70K USD 1 Quarter
Amortization of deferred initial direct costs AmortizationOfDeferredLeasingFees $259.40K USD 1 Quarter
Amortization of deferred initial direct costs AmortizationOfDeferredLeasingFees $100.00K USD 1 Quarter
Tax benefits on exercised stock options ExcessTaxBenefitFromShareBasedCompensationOperatingActivities $16.60K USD 1 Quarter
Tax benefits on exercised stock options ExcessTaxBenefitFromShareBasedCompensationOperatingActivities $9.70K USD 1 Quarter
Receivables IncreaseDecreaseInAccountsReceivable $-139.20K USD 1 Quarter
Receivables IncreaseDecreaseInAccountsReceivable $-71.10K USD 1 Quarter
Restricted cash IncreaseDecreaseInRestrictedCashForOperatingActivities $10.00K USD 1 Quarter
Income tax receivable/payable IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable $4.90M USD 1 Quarter
Income tax receivable/payable IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable $5.66M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $35.10K USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-17.40K USD 1 Quarter
Prepaid expenses IncreaseDecreaseInPrepaidExpense $-62.70K USD 1 Quarter
Prepaid expenses IncreaseDecreaseInPrepaidExpense $-268.50K USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $507.30K USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $426.70K USD 1 Quarter
Accrued and other liabilities IncreaseDecreaseInOtherAccruedLiabilities $338.30K USD 1 Quarter
Accrued and other liabilities IncreaseDecreaseInOtherAccruedLiabilities $-14.10K USD 1 Quarter
Rents received in advance and security deposits AdditionsToAdvanceAndSecurityDeposits $129.00K USD 1 Quarter
Rents received in advance and security deposits AdditionsToAdvanceAndSecurityDeposits $-242.10K USD 1 Quarter
Deferred revenue IncreaseDecreaseInDeferredRevenue $158.10K USD 1 Quarter
Deferred revenue IncreaseDecreaseInDeferredRevenue $7.60K USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $11.75M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $10.61M USD 1 Quarter
Proceeds from sale of marketable securities ProceedsFromSaleOfAvailableForSaleSecuritiesEquity $299.00K USD 1 Quarter
Proceeds from sale of marketable securities ProceedsFromSaleOfAvailableForSaleSecuritiesEquity $17.10K USD 1 Quarter
Purchase of marketable securities PaymentsToAcquireAvailableForSaleSecuritiesEquity $33.80K USD 1 Quarter
Purchase of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $19.90K USD 1 Quarter
Purchase of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $52.70K USD 1 Quarter
Purchase of equipment for lease contracts PaymentsToAcquireEquipmentOnLease $7.87M USD 1 Quarter
Purchase of equipment for lease contracts PaymentsToAcquireEquipmentOnLease $4.73M USD 1 Quarter
Principal collections on lease receivables ProceedsFromSaleAndCollectionOfLeaseReceivables $5.34M USD 1 Quarter
Principal collections on lease receivables ProceedsFromSaleAndCollectionOfLeaseReceivables $9.17M USD 1 Quarter
Net cash provided by investing activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $606.10K USD 1 Quarter
Net cash provided by investing activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $1.51M USD 1 Quarter
Proceeds from borrowings on line of credit ProceedsFromLinesOfCredit $600.00K USD 1 Quarter
Proceeds from borrowings on line of credit ProceedsFromLinesOfCredit $500.00K USD 1 Quarter
Payments on line of credit RepaymentsOfLinesOfCredit $13.50M USD 1 Quarter
Payments on line of credit RepaymentsOfLinesOfCredit $9.40M USD 1 Quarter
Payments on notes payable RepaymentsOfNotesPayable $500.00K USD 1 Quarter
Repurchases of common stock PaymentsForRepurchaseOfCommonStock $1.48M USD 1 Quarter
Proceeds from exercises of stock options ProceedsFromStockOptionsExercised $100.00 USD 1 Quarter
Proceeds from exercises of stock options ProceedsFromStockOptionsExercised $150.20K USD 1 Quarter
Dividends paid PaymentsOfDividends $288.70K USD 1 Quarter
Dividends paid PaymentsOfDividends $299.90K USD 1 Quarter
Tax benefits on exercised stock options ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $9.70K USD 1 Quarter
Tax benefits on exercised stock options ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $16.60K USD 1 Quarter
Net cash used for financing activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $-13.18M USD 1 Quarter
Net cash used for financing activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $-11.01M USD 1 Quarter
NET INCREASE IN CASH AND CASH EQUIVALENTS NetCashProvidedByUsedInContinuingOperations $70.60K USD 1 Quarter
NET INCREASE IN CASH AND CASH EQUIVALENTS NetCashProvidedByUsedInContinuingOperations $206.30K USD 1 Quarter
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $2.09M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $1.01M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $1.21M USD Point-in-time
Cash and cash equivalents, beginning of period CashAndCashEquivalentsAtCarryingValue $2.16M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $2.09M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $1.01M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $1.21M USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $2.16M USD Point-in-time
Cash paid for interest InterestPaidNet $103.50K USD 1 Quarter
Cash paid for interest InterestPaidNet $635.30K USD 1 Quarter
Cash paid (received) for income taxes, net IncomeTaxesPaidNet $-860.60K USD 1 Quarter
Cash paid (received) for income taxes, net IncomeTaxesPaidNet $-2.08M USD 1 Quarter
Comprehensive Income 16 line items
Line Item Tag Value Unit Period
NET INCOME NetIncomeLossAvailableToCommonStockholdersBasic $4.56M USD 1 Quarter
NET INCOME NetIncomeLossAvailableToCommonStockholdersBasic $6.05M USD 1 Quarter
Unrealized holding net gains (losses) arising during period OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax $48.70K USD 1 Quarter
Unrealized holding net gains (losses) arising during period OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax $15.60K USD 1 Quarter
Reclassification adjustment for net gains included in net income OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax $2.30K USD 1 Quarter
OTHER COMPREHENSIVE INCOME (LOSS), BEFORE TAX OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent $15.60K USD 1 Quarter
OTHER COMPREHENSIVE INCOME (LOSS), BEFORE TAX OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent $46.40K USD 1 Quarter
Unrealized holding net gains/losses arising during period OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax $18.50K USD 1 Quarter
Unrealized holding net gains/losses arising during period OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax $5.90K USD 1 Quarter
Reclassification adjustment for net gains included in net income OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax $900.00 USD 1 Quarter
INCOME TAX (EXPENSE) BENEFIT RELATED TO ITEMS OF OTHER COMPREHENSIVE INCOME OtherComprehensiveIncomeLossTaxPortionAttributableToParent1 $17.60K USD 1 Quarter
INCOME TAX (EXPENSE) BENEFIT RELATED TO ITEMS OF OTHER COMPREHENSIVE INCOME OtherComprehensiveIncomeLossTaxPortionAttributableToParent1 $5.90K USD 1 Quarter
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $28.80K USD 1 Quarter
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $9.70K USD 1 Quarter
COMPREHENSIVE INCOME ComprehensiveIncomeNetOfTax $6.08M USD 1 Quarter
COMPREHENSIVE INCOME ComprehensiveIncomeNetOfTax $4.57M USD 1 Quarter

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

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