10-Q Filing

MONRO, INC. CIK: 876427 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001193125-14-299860`
Period End Date	20140630
Filing Date	20140807
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	mnro-20131228.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 86 Income Statement 28 Cash Flow Statement 64 Stockholders Equity 18 Comprehensive Income 2

Balance Sheet 86 line items

Line Item	Tag	Value	Unit	Period
Cash and equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.21M	USD	Point-in-time
Cash and equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.35M	USD	Point-in-time
Cash and equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.44M	USD	Point-in-time
Cash and equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.46M	USD	Point-in-time
Trade receivables	`AccountsAndOtherReceivablesNetCurrent`	$2.73M	USD	Point-in-time
Trade receivables	`AccountsAndOtherReceivablesNetCurrent`	$2.77M	USD	Point-in-time
Federal and state income taxes receivable	`IncomeTaxReceivable`	$2.17M	USD	Point-in-time
Federal and state income taxes receivable	`IncomeTaxReceivable`	-	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
Inventories	`InventoryNet`	$124.92M	USD	Point-in-time
Inventories	`InventoryNet`	$127.24M	USD	Point-in-time
Deferred income tax assets	`DeferredTaxAssetsNetCurrent`	$13.71M	USD	Point-in-time
Common stock authorized	`CommonStockSharesAuthorized`	65.00M	shares	Point-in-time
Common stock authorized	`CommonStockSharesAuthorized`	65.00M	shares	Point-in-time
Deferred income tax assets	`DeferredTaxAssetsNetCurrent`	$13.54M	USD	Point-in-time
Other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$22.70M	USD	Point-in-time
Common shares issued	`CommonStockSharesIssued`	37.62M	shares	Point-in-time
Other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$23.38M	USD	Point-in-time
Common shares issued	`CommonStockSharesIssued`	37.57M	shares	Point-in-time
Treasury stock	`TreasuryStockShares`	6.08M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$168.60M	USD	Point-in-time
Treasury stock	`TreasuryStockShares`	6.08M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$168.12M	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentGross`	$531.50M	USD	Point-in-time
Property, plant and equipment	`PropertyPlantAndEquipmentGross`	$545.60M	USD	Point-in-time
Less - Accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$249.62M	USD	Point-in-time
Less - Accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$254.82M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$281.88M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$290.77M	USD	Point-in-time
Goodwill	`Goodwill`	$270.04M	USD	Point-in-time
Goodwill	`Goodwill`	$278.38M	USD	Point-in-time
Intangible assets	`FiniteLivedIntangibleAssetsNet`	$29.60M	USD	Point-in-time
Intangible assets	`FiniteLivedIntangibleAssetsNet`	$29.37M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$10.28M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$10.55M	USD	Point-in-time
Total assets	`Assets`	$777.64M	USD	Point-in-time
Total assets	`Assets`	$759.96M	USD	Point-in-time
Current portion of long-term debt, capital leases and financing obligations	`DebtCurrent`	$7.50M	USD	Point-in-time
Current portion of long-term debt, capital leases and financing obligations	`DebtCurrent`	$7.55M	USD	Point-in-time
Trade payables	`AccountsPayableCurrent`	$53.32M	USD	Point-in-time
Trade payables	`AccountsPayableCurrent`	$54.42M	USD	Point-in-time
Federal and state income taxes payable	`AccruedIncomeTaxesCurrent`	$7.43M	USD	Point-in-time
Federal and state income taxes payable	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Accrued payroll, payroll taxes and other payroll benefits	`EmployeeRelatedLiabilitiesCurrent`	$20.21M	USD	Point-in-time
Accrued payroll, payroll taxes and other payroll benefits	`EmployeeRelatedLiabilitiesCurrent`	$16.97M	USD	Point-in-time
Accrued insurance	`AccruedInsuranceCurrent`	$32.77M	USD	Point-in-time
Accrued insurance	`AccruedInsuranceCurrent`	$32.35M	USD	Point-in-time
Warranty reserves	`ProductWarrantyAccrual`	$9.67M	USD	Point-in-time
Warranty reserves	`ProductWarrantyAccrual`	$9.56M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$13.75M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$13.39M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$136.74M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$142.16M	USD	Point-in-time
Long-term capital leases and financing obligations	`CapitalLeaseObligationsNoncurrent`	$79.45M	USD	Point-in-time
Long-term capital leases and financing obligations	`CapitalLeaseObligationsNoncurrent`	$81.20M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$104.93M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$105.84M	USD	Point-in-time
Accrued rent expense	`AccruedRentNoncurrent`	$5.61M	USD	Point-in-time
Accrued rent expense	`AccruedRentNoncurrent`	$5.70M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$11.55M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$11.56M	USD	Point-in-time
Deferred income tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$140.00K	USD	Point-in-time
Deferred income tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$68.00K	USD	Point-in-time
Long-term income taxes payable	`LiabilityForUncertainTaxPositionsNoncurrent`	$2.94M	USD	Point-in-time
Long-term income taxes payable	`LiabilityForUncertainTaxPositionsNoncurrent`	$2.79M	USD	Point-in-time
Total liabilities	`Liabilities`	$343.97M	USD	Point-in-time
Total liabilities	`Liabilities`	$346.70M	USD	Point-in-time
Commitments	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments	`CommitmentsAndContingencies`	-	USD	Point-in-time
Class C Convertible Preferred Stock, $1.50 par value, $.064 conversion value, 150,000 shares authorized; 32,500 shares issued and outstanding	`PreferredStockConvertibleValue`	$49.00K	USD	Point-in-time
Class C Convertible Preferred Stock, $1.50 par value, $.064 conversion value, 150,000 shares authorized; 32,500 shares issued and outstanding	`PreferredStockConvertibleValue`	$49.00K	USD	Point-in-time
Common Stock, $.01 par value, 65,000,000 shares authorized; 37,624,475 and 37,567,902 shares issued at June 28, 2014 and March 29, 2014, respectively	`CommonStockValue`	$376.00K	USD	Point-in-time
Common Stock, $.01 par value, 65,000,000 shares authorized; 37,624,475 and 37,567,902 shares issued at June 28, 2014 and March 29, 2014, respectively	`CommonStockValue`	$376.00K	USD	Point-in-time
Treasury Stock, 6,076,951 shares at cost	`TreasuryStockValue`	$90.24M	USD	Point-in-time
Treasury Stock, 6,076,951 shares at cost	`TreasuryStockValue`	$90.24M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$141.37M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$143.65M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-3.20M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-3.13M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$367.57M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$380.30M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$430.94M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$415.98M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$777.64M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$759.96M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueServicesNet`	$206.17M	USD	1 Quarter
Sales	`SalesRevenueServicesNet`	$217.51M	USD	1 Quarter
Cost of sales, including distribution and occupancy costs	`CostOfSalesIncludingDistributionAndOccupancyCosts`	$127.48M	USD	1 Quarter
Cost of sales, including distribution and occupancy costs	`CostOfSalesIncludingDistributionAndOccupancyCosts`	$127.29M	USD	1 Quarter
Gross profit	`GrossProfit`	$78.88M	USD	1 Quarter
Gross profit	`GrossProfit`	$90.02M	USD	1 Quarter
Operating, selling, general and administrative expenses	`OperatingSellingGeneralAndAdministrativeExpenses`	$60.61M	USD	1 Quarter
Operating, selling, general and administrative expenses	`OperatingSellingGeneralAndAdministrativeExpenses`	$55.77M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$23.11M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$29.41M	USD	1 Quarter
Interest expense, net of interest income	`InterestIncomeExpenseNet`	$-1.81M	USD	1 Quarter
Interest expense, net of interest income	`InterestIncomeExpenseNet`	$-2.14M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$80.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$52.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$21.35M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$27.35M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$10.42M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$7.78M	USD	1 Quarter
Net income	`NetIncomeLoss`	$16.93M	USD	1 Quarter
Net income	`NetIncomeLoss`	$13.57M	USD	1 Quarter
Changes in pension, net of tax benefit of $37	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$62.00K	USD	1 Quarter
Changes in pension, net of tax benefit of $37	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	-	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$16.87M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$13.57M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.53	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.43	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.52	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.42	USD	1 Quarter

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$16.93M	USD	1 Quarter
Net income	`NetIncomeLoss`	$13.57M	USD	1 Quarter
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$7.59M	USD	1 Quarter
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$8.22M	USD	1 Quarter
Loss (gain) on disposal of assets	`GainLossOnSaleOfProperty`	$-191.00K	USD	1 Quarter
Loss (gain) on disposal of assets	`GainLossOnSaleOfProperty`	$344.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$755.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$793.00K	USD	1 Quarter
Excess tax benefits from share-based payment arrangements	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$93.00K	USD	1 Quarter
Excess tax benefits from share-based payment arrangements	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$42.00K	USD	1 Quarter
Net change in deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-472.00K	USD	1 Quarter
Net change in deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-200.00K	USD	1 Quarter
Trade receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$38.00K	USD	1 Quarter
Trade receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$126.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$970.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-3.16M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-2.00M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-707.00K	USD	1 Quarter
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-1.41M	USD	1 Quarter
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-524.00K	USD	1 Quarter
Trade payables	`IncreaseDecreaseInAccountsPayableTrade`	$-267.00K	USD	1 Quarter
Trade payables	`IncreaseDecreaseInAccountsPayableTrade`	$1.10M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-866.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$4.11M	USD	1 Quarter
Federal and state income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$2.51M	USD	1 Quarter
Federal and state income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$7.28M	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherLongTermLiabilities`	$-232.00K	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherLongTermLiabilities`	$-573.00K	USD	1 Quarter
Long-term income taxes payable	`UnrecognizedTaxBenefitsPeriodIncreaseDecrease`	$143.00K	USD	1 Quarter
Long-term income taxes payable	`UnrecognizedTaxBenefitsPeriodIncreaseDecrease`	$-475.00K	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$19.96M	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$17.17M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$33.53M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$34.11M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.45M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$8.97M	USD	1 Quarter
Acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$18.36M	USD	1 Quarter
Proceeds from the disposal of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$38.00K	USD	1 Quarter
Proceeds from the disposal of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$37.00K	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-27.30M	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.41M	USD	1 Quarter
Proceeds from borrowings	`ProceedsFromBankDebt`	$61.77M	USD	1 Quarter
Proceeds from borrowings	`ProceedsFromBankDebt`	$75.41M	USD	1 Quarter
Principal payments on long-term debt, capital leases and financing obligations	`RepaymentsOfOtherDebt`	$78.13M	USD	1 Quarter
Principal payments on long-term debt, capital leases and financing obligations	`RepaymentsOfOtherDebt`	$86.89M	USD	1 Quarter
Exercise of stock options	`ProceedsFromStockOptionsExercised`	$2.41M	USD	1 Quarter
Exercise of stock options	`ProceedsFromStockOptionsExercised`	$1.21M	USD	1 Quarter
Excess tax benefits from share-based payment arrangements	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$93.00K	USD	1 Quarter
Excess tax benefits from share-based payment arrangements	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$42.00K	USD	1 Quarter
Dividends to shareholders	`PaymentsOfDividends`	$3.53M	USD	1 Quarter
Dividends to shareholders	`PaymentsOfDividends`	$4.20M	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-5.67M	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-26.15M	USD	1 Quarter
Increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.14M	USD	1 Quarter
Increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-22.00K	USD	1 Quarter
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.21M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.35M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.44M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.46M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.21M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.35M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.44M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.46M	USD	Point-in-time

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Preferred stock cash dividends per common stock equivalent	`PreferredStockDividendsPerShareCashPaid`	$0.13	USD	1 Quarter
Common stock cash dividends per share	`CommonStockDividendsPerShareCashPaid`	$0.13	USD	1 Quarter
Pension liability adjustment - pre-tax	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentBeforeTaxPortionAttributableToNoncontrollingInterest`	$-99.00K	USD	1 Quarter
Balance beginning	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$430.94M	USD	Point-in-time
Balance beginning	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$415.98M	USD	Point-in-time
Net income	`NetIncomeLoss`	$16.93M	USD	1 Quarter
Net income	`NetIncomeLoss`	$13.57M	USD	1 Quarter
Pension liability adjustment (($99) pre-tax)	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$62.00K	USD	1 Quarter
Pension liability adjustment (($99) pre-tax)	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	-	USD	1 Quarter
Preferred stock cash dividends	`DividendsPreferredStockCash`	$99.00K	USD	1 Quarter
Preferred stock cash dividends	`DividendsPreferredStockCash`	$84.00K	USD	1 Quarter
Common stock cash dividends	`DividendsCommonStockCash`	$4.10M	USD	1 Quarter
Stock issuance costs	`PaymentsOfStockIssuanceCosts`	$-14.00K	USD	1 Quarter
Tax benefit from exercise of stock options	`EmployeeServiceShareBasedCompensationTaxBenefitRealizedFromExerciseOfStockOptions`	$337.00K	USD	1 Quarter
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$1.21M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$755.00K	USD	1 Quarter
Balance ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$430.94M	USD	Point-in-time
Balance ending	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$415.98M	USD	Point-in-time

Comprehensive Income 2 line items

Line Item	Tag	Value	Unit	Period
Tax benefit related to changes in pension	`OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent`	-	USD	1 Quarter
Tax benefit related to changes in pension	`OtherComprehensiveIncomeDefinedBenefitPlansTaxPortionAttributableToParent`	$37.00K	USD	1 Quarter

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