10-Q Filing

lululemon athletica inc. CIK: 1397187 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001193125-13-253430`
Period End Date	20130430
Filing Date	20130610
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	lulu-20130505.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 88 Income Statement 33 Cash Flow Statement 51 Stockholders Equity 12

Balance Sheet 88 line items

Line Item	Tag	Value	Unit	Period
Undesignated preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Undesignated preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Undesignated preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Undesignated preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$590.18M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$588.42M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$409.44M	USD	Point-in-time
Undesignated preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Undesignated preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$424.33M	USD	Point-in-time
Undesignated preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable	`ReceivablesNetCurrent`	$6.35M	USD	Point-in-time
Undesignated preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable	`ReceivablesNetCurrent`	$7.75M	USD	Point-in-time
Exchangeable stock, par value	`ExchangeableStockParValue`	-	USD	Point-in-time
Inventories	`InventoryFinishedGoodsNetOfReserves`	$143.71M	USD	Point-in-time
Inventories	`InventoryFinishedGoodsNetOfReserves`	$155.22M	USD	Point-in-time
Exchangeable stock, par value	`ExchangeableStockParValue`	-	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$41.73M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$35.30M	USD	Point-in-time
Exchangeable stock, shares authorized	`ExchangeableStockSharesAuthorized`	60.00M	shares	Point-in-time
Exchangeable stock, shares authorized	`ExchangeableStockSharesAuthorized`	60.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$787.05M	USD	Point-in-time
Exchangeable stock, shares issued	`ExchangeableStockSharesIssued`	32.06M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$781.62M	USD	Point-in-time
Exchangeable stock, shares issued	`ExchangeableStockSharesIssued`	32.03M	shares	Point-in-time
Exchangeable stock, shares outstanding	`ExchangeableStockSharesOutstanding`	32.03M	shares	Point-in-time
Exchangeable stock, shares outstanding	`ExchangeableStockSharesOutstanding`	32.06M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$222.88M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$214.64M	USD	Point-in-time
Special voting stock, par value	`SpecialVotingStockParValue`	-	USD	Point-in-time
Goodwill and intangible assets, net	`GoodwillAndIntangibleAssetsNet`	$30.20M	USD	Point-in-time
Special voting stock, par value	`SpecialVotingStockParValue`	-	USD	Point-in-time
Goodwill and intangible assets, net	`GoodwillAndIntangibleAssetsNet`	$29.81M	USD	Point-in-time
Special voting stock, shares authorized	`SpecialVotingStockSharesAuthorized`	60.00M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$15.03M	USD	Point-in-time
Special voting stock, shares authorized	`SpecialVotingStockSharesAuthorized`	60.00M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$15.01M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$4.15M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$4.16M	USD	Point-in-time
Special voting stock, shares issued	`SpecialVotingStockSharesIssued`	32.06M	shares	Point-in-time
Special voting stock, shares issued	`SpecialVotingStockSharesIssued`	32.03M	shares	Point-in-time
Special voting stock, shares outstanding	`SpecialVotingStockSharesOutstanding`	32.03M	shares	Point-in-time
Total assets	`Assets`	$1.05B	USD	Point-in-time
Special voting stock, shares outstanding	`SpecialVotingStockSharesOutstanding`	32.06M	shares	Point-in-time
Total assets	`Assets`	$1.05B	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	400.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	400.00M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.76M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	112.52M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	112.37M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.04M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	112.52M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	112.37M	shares	Point-in-time
Accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$30.03M	USD	Point-in-time
Accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$38.02M	USD	Point-in-time
Accrued compensation and related expenses	`DeferredCompensationLiabilityCurrent`	$18.94M	USD	Point-in-time
Accrued compensation and related expenses	`DeferredCompensationLiabilityCurrent`	$27.53M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$2.19M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$39.64M	USD	Point-in-time
Unredeemed gift card liability	`AccruedLiabilitiesForUnredeeemedGiftCards`	$29.42M	USD	Point-in-time
Unredeemed gift card liability	`AccruedLiabilitiesForUnredeeemedGiftCards`	$35.11M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$133.36M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$92.33M	USD	Point-in-time
Non-current liabilities	`LiabilitiesNoncurrent`	$31.09M	USD	Point-in-time
Non-current liabilities	`LiabilitiesNoncurrent`	$30.42M	USD	Point-in-time
Total liabilities	`Liabilities`	$163.78M	USD	Point-in-time
Total liabilities	`Liabilities`	$123.42M	USD	Point-in-time
Undesignated preferred stock, $0.01 par value, 5,000 shares authorized, none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Undesignated preferred stock, $0.01 par value, 5,000 shares authorized, none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Exchangeable stock, no par value, 60,000 shares authorized, issued and outstanding 32,033 and 32,065	`ExchangeableStockValue`	-	USD	Point-in-time
Exchangeable stock, no par value, 60,000 shares authorized, issued and outstanding 32,033 and 32,065	`ExchangeableStockValue`	-	USD	Point-in-time
Special voting stock, $0.000005 par value, 60,000 shares authorized, issued and outstanding 32,033 and 32,065	`SpecialVotingStockValue`	-	USD	Point-in-time
Special voting stock, $0.000005 par value, 60,000 shares authorized, issued and outstanding 32,033 and 32,065	`SpecialVotingStockValue`	-	USD	Point-in-time
Common stock, $0.005 par value, 400,000 shares authorized, issued and outstanding 112,517 and 112,371	`CommonStockValue`	$562.00K	USD	Point-in-time
Common stock, $0.005 par value, 400,000 shares authorized, issued and outstanding 112,517 and 112,371	`CommonStockValue`	$563.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$221.37M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$221.30M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$644.27M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$691.55M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$16.64M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$21.09M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$887.30M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$930.06M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.05B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.05B	USD	Point-in-time

Income Statement 33 line items

Line Item	Tag	Value	Unit	Period
Net revenue	`SalesRevenueNet`	$285.70M	USD	1 Quarter
Net revenue	`SalesRevenueNet`	$345.78M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$175.06M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$128.43M	USD	1 Quarter
Gross profit	`GrossProfit`	$170.72M	USD	1 Quarter
Gross profit	`GrossProfit`	$157.26M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$84.20M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$104.84M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$65.89M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$73.06M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$1.50M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$910.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$73.97M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$67.39M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$27.00M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$20.11M	USD	1 Quarter
Net income	`ProfitLoss`	$47.28M	USD	1 Quarter
Net income	`ProfitLoss`	$46.97M	USD	1 Quarter
Net income attributable to non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$331.00K	USD	1 Quarter
Net income attributable to lululemon athletica inc.	`NetIncomeLoss`	$46.64M	USD	1 Quarter
Net income attributable to lululemon athletica inc.	`NetIncomeLoss`	$47.28M	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$0.32	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$0.33	USD	1 Quarter
Diluted earnings per share	`EarningsPerShareDiluted`	$0.32	USD	1 Quarter
Diluted earnings per share	`EarningsPerShareDiluted`	$0.32	USD	1 Quarter
Basic weighted-average number of shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	144.48M	shares	1 Quarter
Basic weighted-average number of shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	143.68M	shares	1 Quarter
Diluted weighted-average number of shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	145.85M	shares	1 Quarter
Diluted weighted-average number of shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	145.64M	shares	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-4.45M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$7.54M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$42.83M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$54.19M	USD	1 Quarter

Cash Flow Statement 51 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$47.28M	USD	1 Quarter
Net income	`ProfitLoss`	$46.97M	USD	1 Quarter
Provision for inventories	`InventoryWriteDown`	$61.00K	USD	1 Quarter
Provision for inventories	`InventoryWriteDown`	$17.15M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$9.80M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$11.73M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$3.89M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$4.29M	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$280.00K	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$4.24M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$8.01M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$7.71M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$2.81M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$6.23M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-10.22M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.71M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-1.53M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$8.24M	USD	1 Quarter
Sales tax collected	`IncreaseDecreaseInSalesTaxCollected`	$-391.00K	USD	1 Quarter
Sales tax collected	`IncreaseDecreaseInSalesTaxCollected`	$-6.34M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$-37.79M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$82.00K	USD	1 Quarter
Accrued compensation and related expenses	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-8.75M	USD	1 Quarter
Accrued compensation and related expenses	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-8.61M	USD	1 Quarter
Other non-cash balances	`IncreaseDecreaseInOtherOperatingCapitalNet`	$3.09M	USD	1 Quarter
Other non-cash balances	`IncreaseDecreaseInOtherOperatingCapitalNet`	$5.12M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$25.14M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$15.95M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$12.70M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$20.98M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-20.98M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-12.70M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$163.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$4.57M	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$4.24M	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$280.00K	USD	1 Quarter
Taxes paid related to net share settlement of equity awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$4.80M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$8.81M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-4.36M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-1.56M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$2.83M	USD	1 Quarter
Decrease (increased) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.76M	USD	1 Quarter
Decrease (increased) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$14.89M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$590.18M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$588.42M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$409.44M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$424.33M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$590.18M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$588.42M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$409.44M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$424.33M	USD	Point-in-time

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$887.30M	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$930.06M	USD	Point-in-time
Net income attributable to lululemon athletica inc.	`NetIncomeLoss`	$46.64M	USD	1 Quarter
Net income attributable to lululemon athletica inc.	`NetIncomeLoss`	$47.28M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-4.45M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$7.54M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$4.29M	USD	1 Quarter
Excess tax benefit from stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation`	$280.00K	USD	1 Quarter
Stock options exercised	`StockIssuedDuringPeriodValueStockOptionsExercised`	$163.00K	USD	1 Quarter
Shares withheld related to net share settlement of performance share units	`SharesWithheldRelatedToNetShareSettlementOfPerformanceStockUnitsValue`	$4.80M	USD	1 Quarter
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$887.30M	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$930.06M	USD	Point-in-time

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