10-K Filing

ROCKY BRANDS, INC. CIK: 895456 FY 2020

Filing Information

Form Type	10-K
Accession Number	`0001437749-21-006170`
Period End Date	20201231
Filing Date	20210316
Fiscal Year	2020
Fiscal Period	FY
XBRL Instance	rcky20201207_10k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 66 Cash Flow Statement 60 Stockholders Equity 27

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
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
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	25.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.17M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.52M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$28.35M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	7.25M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	7.35M	shares	Point-in-time
Trade receivables net	`AccountsReceivableNetCurrent`	$45.59M	USD	Point-in-time
Trade receivables net	`AccountsReceivableNetCurrent`	$48.01M	USD	Point-in-time
Contract receivables	`ContractWithCustomerAssetNetCurrent`	$5.17M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	7.25M	shares	Point-in-time
Contract receivables	`ContractWithCustomerAssetNetCurrent`	$4.75M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	7.35M	shares	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$366.00K	USD	Point-in-time
Other receivables	`OtherReceivablesNetCurrent`	$364.00K	USD	Point-in-time
Inventories net	`InventoryNet`	$76.73M	USD	Point-in-time
Inventories net	`InventoryNet`	$77.58M	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$150.00K	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	-	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$3.03M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$3.71M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$146.13M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$163.19M	USD	Point-in-time
LEASED ASSETS	`OperatingLeaseRightOfUseAsset`	$1.74M	USD	Point-in-time
LEASED ASSETS	`OperatingLeaseRightOfUseAsset`	$1.57M	USD	Point-in-time
PROPERTY, PLANT & EQUIPMENT net	`PropertyPlantAndEquipmentNet`	$27.42M	USD	Point-in-time
PROPERTY, PLANT & EQUIPMENT net	`PropertyPlantAndEquipmentNet`	$33.75M	USD	Point-in-time
IDENTIFIED INTANGIBLES net	`IntangibleAssetsNetExcludingGoodwill`	$30.24M	USD	Point-in-time
IDENTIFIED INTANGIBLES net	`IntangibleAssetsNetExcludingGoodwill`	$30.21M	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$294.00K	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$374.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$205.83M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$229.09M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$20.09M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$15.78M	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityCurrent`	$4.75M	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityCurrent`	$5.58M	USD	Point-in-time
Salaries and wages	`EmployeeRelatedLiabilitiesCurrent`	$4.46M	USD	Point-in-time
Salaries and wages	`EmployeeRelatedLiabilitiesCurrent`	$3.04M	USD	Point-in-time
Taxes - other	`AccrualForTaxesOtherThanIncomeTaxesCurrent`	$893.00K	USD	Point-in-time
Taxes - other	`AccrualForTaxesOtherThanIncomeTaxesCurrent`	$967.00K	USD	Point-in-time
Accrued freight	`AccruedFreightCurrent`	$867.00K	USD	Point-in-time
Accrued freight	`AccruedFreightCurrent`	$911.00K	USD	Point-in-time
Commissions	`AccruedSalesCommissionCurrent`	$608.00K	USD	Point-in-time
Commissions	`AccruedSalesCommissionCurrent`	$712.00K	USD	Point-in-time
Accrued duty	`AccruedDutyCurrent`	$3.82M	USD	Point-in-time
Accrued duty	`AccruedDutyCurrent`	$4.27M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$1.02M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Other	`OtherAccruedLiabilitiesCurrent`	$1.70M	USD	Point-in-time
Other	`OtherAccruedLiabilitiesCurrent`	$2.04M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$39.98M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$31.53M	USD	Point-in-time
LONG-TERM TAXES PAYABLE	`LongtermTaxesPayable`	$169.00K	USD	Point-in-time
LONG-TERM TAXES PAYABLE	`LongtermTaxesPayable`	$169.00K	USD	Point-in-time
LONG-TERM LEASE	`OperatingLeaseLiabilityNoncurrent`	$1.16M	USD	Point-in-time
LONG-TERM LEASE	`OperatingLeaseLiabilityNoncurrent`	$944.00K	USD	Point-in-time
DEFERRED INCOME TAXES	`DeferredIncomeTaxLiabilitiesNet`	$8.27M	USD	Point-in-time
DEFERRED INCOME TAXES	`DeferredIncomeTaxLiabilitiesNet`	$8.11M	USD	Point-in-time
DEFERRED LIABILITIES	`OtherLiabilitiesNoncurrent`	$201.00K	USD	Point-in-time
DEFERRED LIABILITIES	`OtherLiabilitiesNoncurrent`	$219.00K	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$41.17M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$49.59M	USD	Point-in-time
25,000,000 shares authorized; issued and outstanding December 31, 2020 - 7,247,631; December 31, 2019 - 7,354,970	`CommonStockValue`	$67.99M	USD	Point-in-time
25,000,000 shares authorized; issued and outstanding December 31, 2020 - 7,247,631; December 31, 2019 - 7,354,970	`CommonStockValue`	$65.97M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$96.66M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$113.53M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$164.66M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$151.57M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$179.50M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$229.09M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$205.83M	USD	Point-in-time

Income Statement 66 line items

Line Item	Tag	Value	Unit	Period
NET SALES	`RevenueFromContractWithCustomerIncludingAssessedTax`	$61.96M	USD	1 Quarter
NET SALES	`RevenueFromContractWithCustomerIncludingAssessedTax`	$55.72M	USD	1 Quarter
NET SALES	`RevenueFromContractWithCustomerIncludingAssessedTax`	$56.19M	USD	1 Quarter
NET SALES	`RevenueFromContractWithCustomerIncludingAssessedTax`	$65.93M	USD	1 Quarter
NET SALES	`RevenueFromContractWithCustomerIncludingAssessedTax`	$87.62M	USD	1 Quarter
NET SALES	`RevenueFromContractWithCustomerIncludingAssessedTax`	$75.34M	USD	1 Quarter
NET SALES	`RevenueFromContractWithCustomerIncludingAssessedTax`	$277.31M	USD	Annual
NET SALES	`RevenueFromContractWithCustomerIncludingAssessedTax`	$270.41M	USD	Annual
NET SALES	`RevenueFromContractWithCustomerIncludingAssessedTax`	$67.18M	USD	1 Quarter
NET SALES	`RevenueFromContractWithCustomerIncludingAssessedTax`	$77.78M	USD	1 Quarter
COST OF GOODS SOLD	`CostOfGoodsAndServicesSold`	$172.72M	USD	Annual
COST OF GOODS SOLD	`CostOfGoodsAndServicesSold`	$172.57M	USD	Annual
GROSS MARGIN	`GrossProfit`	$28.25M	USD	1 Quarter
GROSS MARGIN	`GrossProfit`	$21.44M	USD	1 Quarter
GROSS MARGIN	`GrossProfit`	$29.83M	USD	1 Quarter
GROSS MARGIN	`GrossProfit`	$36.12M	USD	1 Quarter
GROSS MARGIN	`GrossProfit`	$104.73M	USD	Annual
GROSS MARGIN	`GrossProfit`	$19.32M	USD	1 Quarter
GROSS MARGIN	`GrossProfit`	$19.46M	USD	1 Quarter
GROSS MARGIN	`GrossProfit`	$22.98M	USD	1 Quarter
GROSS MARGIN	`GrossProfit`	$25.01M	USD	1 Quarter
GROSS MARGIN	`GrossProfit`	$97.69M	USD	Annual
OPERATING EXPENSES	`OperatingExpenses`	$75.60M	USD	Annual
OPERATING EXPENSES	`OperatingExpenses`	$77.56M	USD	Annual
INCOME FROM OPERATIONS	`OperatingIncomeLoss`	$27.17M	USD	Annual
INCOME FROM OPERATIONS	`OperatingIncomeLoss`	$22.09M	USD	Annual
OTHER (EXPENSES) INCOME	`NonoperatingIncomeExpense`	$146.00K	USD	Annual
OTHER (EXPENSES) INCOME	`NonoperatingIncomeExpense`	$-205.00K	USD	Annual
INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$26.96M	USD	Annual
INCOME BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$22.23M	USD	Annual
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$6.00M	USD	Annual
INCOME TAX EXPENSE	`IncomeTaxExpenseBenefit`	$4.77M	USD	Annual
NET INCOME	`NetIncomeLoss`	$7.61M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$5.62M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$3.60M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$1.19M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$3.16M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$2.44M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$20.96M	USD	Annual
NET INCOME	`NetIncomeLoss`	$9.72M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$17.46M	USD	Annual
NET INCOME	`NetIncomeLoss`	$5.08M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$1.04	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.76	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$1.34	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$2.36	USD	Annual
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.33	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.16	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.49	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.68	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.43	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$2.87	USD	Annual
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$2.86	USD	Annual
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.33	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$1.04	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.75	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.16	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$2.35	USD	Annual
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.42	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.70	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.48	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$1.33	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.30M	shares	Annual
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.39M	shares	Annual
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.34M	shares	Annual
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	7.44M	shares	Annual

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$7.61M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.62M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.60M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.19M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.16M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.44M	USD	1 Quarter
Net income	`NetIncomeLoss`	$20.96M	USD	Annual
Net income	`NetIncomeLoss`	$9.72M	USD	1 Quarter
Net income	`NetIncomeLoss`	$17.46M	USD	Annual
Net income	`NetIncomeLoss`	$5.08M	USD	1 Quarter
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$5.04M	USD	Annual
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$5.24M	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$328.00K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$164.00K	USD	Annual
Loss on disposal of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-28.00K	USD	Annual
Loss on disposal of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-108.00K	USD	Annual
Stock compensation expense	`ShareBasedCompensation`	$780.00K	USD	Annual
Stock compensation expense	`ShareBasedCompensation`	$662.00K	USD	Annual
Receivables	`IncreaseDecreaseInReceivables`	$2.70M	USD	Annual
Receivables	`IncreaseDecreaseInReceivables`	$4.55M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$845.00K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$3.91M	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$993.00K	USD	Annual
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$4.30M	USD	Annual
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$145.00K	USD	Annual
Other assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$80.00K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$4.46M	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$456.00K	USD	Annual
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$3.40M	USD	Annual
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$6.94M	USD	Annual
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	-	USD	Annual
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$1.02M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$18.09M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$31.44M	USD	Annual
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$11.72M	USD	Annual
Purchase of fixed assets	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.72M	USD	Annual
Proceeds from sales of fixed assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$5.00K	USD	Annual
Proceeds from sales of fixed assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$19.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.71M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.70M	USD	Annual
Proceeds from revolving credit facility	`ProceedsFromLinesOfCredit`	$20.00M	USD	Annual
Proceeds from revolving credit facility	`ProceedsFromLinesOfCredit`	-	USD	Annual
Repayments on revolving credit facility	`RepaymentsOfLinesOfCredit`	$20.00M	USD	Annual
Repayments on revolving credit facility	`RepaymentsOfLinesOfCredit`	-	USD	Annual
Proceeds from stock options	`ProceedsFromStockOptionsExercised`	$136.00K	USD	Annual
Proceeds from stock options	`ProceedsFromStockOptionsExercised`	$444.00K	USD	Annual
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$1.50M	USD	Annual
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$2.94M	USD	Annual
Dividends paid on common stock	`PaymentsOfDividends`	$3.99M	USD	Annual
Dividends paid on common stock	`PaymentsOfDividends`	$4.09M	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-5.04M	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-6.89M	USD	Annual
INCREASE IN CASH AND CASH EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$12.84M	USD	Annual
INCREASE IN CASH AND CASH EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$5.34M	USD	Annual
BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$10.17M	USD	Point-in-time
BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$15.52M	USD	Point-in-time
BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$28.35M	USD	Point-in-time
END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$10.17M	USD	Point-in-time
END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$15.52M	USD	Point-in-time
END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$28.35M	USD	Point-in-time

Stockholders Equity 27 line items

Line Item	Tag	Value	Unit	Period
Dividends paid on common stock, per share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.56	USD	Annual
Dividends paid on common stock, per share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.54	USD	Annual
BALANCE	`StockholdersEquity`	$164.66M	USD	Point-in-time
BALANCE	`StockholdersEquity`	$151.57M	USD	Point-in-time
BALANCE	`StockholdersEquity`	$179.50M	USD	Point-in-time
Net income	`NetIncomeLoss`	$7.61M	USD	1 Quarter
Net income	`NetIncomeLoss`	$5.62M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.60M	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.19M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.16M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.44M	USD	1 Quarter
Net income	`NetIncomeLoss`	$20.96M	USD	Annual
Net income	`NetIncomeLoss`	$9.72M	USD	1 Quarter
Net income	`NetIncomeLoss`	$17.46M	USD	Annual
Net income	`NetIncomeLoss`	$5.08M	USD	1 Quarter
Dividends paid on common stock	`DividendsCommonStockCash`	$3.99M	USD	Annual
Dividends paid on common stock	`DividendsCommonStockCash`	$4.09M	USD	Annual
Repurchase of common stock	`StockRepurchasedDuringPeriodValue`	$1.50M	USD	Annual
Repurchase of common stock	`StockRepurchasedDuringPeriodValue`	$2.94M	USD	Annual
Stock issued for options exercised, including tax benefits (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	8,800.00	shares	Annual
Stock issued for options exercised, including tax benefits	`StockIssuedDuringPeriodValueStockOptionsExercisedNetOfTaxBenefitExpense`	$444.00K	USD	Annual
Stock issued for options exercised, including tax benefits	`StockIssuedDuringPeriodValueStockOptionsExercisedNetOfTaxBenefitExpense`	$136.00K	USD	Annual
Stock compensation expense	`StockIssuedDuringPeriodValueShareBasedCompensation`	$662.00K	USD	Annual
Stock compensation expense	`StockIssuedDuringPeriodValueShareBasedCompensation`	$780.00K	USD	Annual
BALANCE	`StockholdersEquity`	$164.66M	USD	Point-in-time
BALANCE	`StockholdersEquity`	$151.57M	USD	Point-in-time
BALANCE	`StockholdersEquity`	$179.50M	USD	Point-in-time

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