10-Q Filing

Floor & Decor Holdings, Inc. CIK: 1507079 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001507079-21-000014`
Period End Date	20210331
Filing Date	20210506
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	fnd-20210401_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 32 Cash Flow Statement 66 Stockholders Equity 20

Balance Sheet 76 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$307.77M	USD	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$289.93M	USD	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$27.04M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$354.05M	USD	Point-in-time
Receivables, net	`ReceivablesExcludingIncomeTaxesNetCurrent`	$50.43M	USD	Point-in-time
Receivables, net	`ReceivablesExcludingIncomeTaxesNetCurrent`	$60.00M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Inventories, net	`InventoryNet`	$607.65M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventories, net	`InventoryNet`	$654.00M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$28.26M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$40.17M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.06B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.04B	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$611.31M	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$579.36M	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$947.45M	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$916.33M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$109.27M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$109.27M	USD	Point-in-time
Goodwill	`Goodwill`	$227.45M	USD	Point-in-time
Goodwill	`Goodwill`	$227.45M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$7.57M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$7.37M	USD	Point-in-time
Total long-term assets	`AssetsNoncurrent`	$1.90B	USD	Point-in-time
Total long-term assets	`AssetsNoncurrent`	$1.84B	USD	Point-in-time
Total assets	`Assets`	$2.88B	USD	Point-in-time
Total assets	`Assets`	$2.96B	USD	Point-in-time
Current portion of term loans	`LongTermDebtCurrent`	$2.10M	USD	Point-in-time
Current portion of term loans	`LongTermDebtCurrent`	$1.65M	USD	Point-in-time
Current portion of lease liabilities	`OperatingLeaseLiabilityCurrent`	$94.50M	USD	Point-in-time
Current portion of lease liabilities	`OperatingLeaseLiabilityCurrent`	$79.04M	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$402.13M	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$417.90M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$162.28M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$160.41M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$12.39M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$13.63M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$10.12M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$15.66M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$672.98M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$698.84M	USD	Point-in-time
Term loans	`LongTermLoansPayable`	$195.55M	USD	Point-in-time
Term loans	`LongTermLoansPayable`	$207.16M	USD	Point-in-time
Lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$941.12M	USD	Point-in-time
Lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$975.18M	USD	Point-in-time
Deferred income tax liabilities, net	`DeferredIncomeTaxLiabilitiesNet`	$27.99M	USD	Point-in-time
Deferred income tax liabilities, net	`DeferredIncomeTaxLiabilitiesNet`	$32.45M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$7.93M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$7.84M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$1.18B	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$1.21B	USD	Point-in-time
Total liabilities	`Liabilities`	$1.88B	USD	Point-in-time
Total liabilities	`Liabilities`	$1.88B	USD	Point-in-time
Commitments and Contingencies (Note 5)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 5)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 10,000,000 shares authorized; 0 shares issued and outstanding at April 1, 2021 and December 31, 2020	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 10,000,000 shares authorized; 0 shares issued and outstanding at April 1, 2021 and December 31, 2020	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$408.12M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$415.58M	USD	Point-in-time
Accumulated other comprehensive income, net	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$164.00K	USD	Point-in-time
Accumulated other comprehensive income, net	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$247.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$664.79M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$589.00M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$764.34M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$809.29M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$997.39M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.08B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$2.96B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$2.88B	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$782.54M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$554.94M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$445.60M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$318.90M	USD	1 Quarter
Gross profit	`GrossProfit`	$236.03M	USD	1 Quarter
Gross profit	`GrossProfit`	$336.93M	USD	1 Quarter
Selling and store operating	`SellingExpense`	$153.07M	USD	1 Quarter
Selling and store operating	`SellingExpense`	$189.95M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$44.04M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$30.86M	USD	1 Quarter
Pre-opening	`PreOpeningCosts`	$5.43M	USD	1 Quarter
Pre-opening	`PreOpeningCosts`	$7.00M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$240.98M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$189.36M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$46.67M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$95.95M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$1.81M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$1.39M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$44.87M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$94.56M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$18.77M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$7.80M	USD	1 Quarter
Net income	`NetIncomeLoss`	$75.80M	USD	1 Quarter
Net income	`NetIncomeLoss`	$37.06M	USD	1 Quarter
Change in fair value of hedge instruments, net of tax	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax`	$83.00K	USD	1 Quarter
Change in fair value of hedge instruments, net of tax	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax`	$68.00K	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$37.13M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$75.88M	USD	1 Quarter
Basic earnings per share (in dollars per share)	`EarningsPerShareBasic`	$0.36	USD	1 Quarter
Basic earnings per share (in dollars per share)	`EarningsPerShareBasic`	$0.73	USD	1 Quarter
Diluted earnings per share (in dollars per share)	`EarningsPerShareDiluted`	$0.35	USD	1 Quarter
Diluted earnings per share (in dollars per share)	`EarningsPerShareDiluted`	$0.71	USD	1 Quarter

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$75.80M	USD	1 Quarter
Net income	`NetIncomeLoss`	$37.06M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$26.41M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$22.09M	USD	1 Quarter
Gain on asset impairments and disposals, net	`GainLossOnSalesOfAssetsAndAssetImpairmentCharges`	-	USD	1 Quarter
Gain on asset impairments and disposals, net	`GainLossOnSalesOfAssetsAndAssetImpairmentCharges`	$29.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$4.46M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-4.74M	USD	1 Quarter
Interest cap derivative contracts	`AmortizationOfDeferredHedgeGains`	$84.00K	USD	1 Quarter
Interest cap derivative contracts	`AmortizationOfDeferredHedgeGains`	$83.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$4.73M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$2.91M	USD	1 Quarter
Receivables, net	`IncreaseDecreaseInReceivables`	$9.57M	USD	1 Quarter
Receivables, net	`IncreaseDecreaseInReceivables`	$-18.74M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$7.08M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$-46.35M	USD	1 Quarter
Trade accounts payable	`IncreaseDecreaseInAccountsPayable`	$-48.64M	USD	1 Quarter
Trade accounts payable	`IncreaseDecreaseInAccountsPayable`	$-13.38M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-16.20M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-2.48M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$1.24M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$12.54M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$506.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$5.54M	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingLiabilities`	$-6.30M	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingLiabilities`	$-24.48M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$24.67M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$101.00M	USD	1 Quarter
Purchases of fixed assets	`PaymentsToAcquireProductiveAssets`	$45.88M	USD	1 Quarter
Purchases of fixed assets	`PaymentsToAcquireProductiveAssets`	$38.38M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-38.38M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-45.88M	USD	1 Quarter
Borrowings on revolving line of credit	`ProceedsFromLongTermLinesOfCredit`	$275.00M	USD	1 Quarter
Borrowings on revolving line of credit	`ProceedsFromLongTermLinesOfCredit`	-	USD	1 Quarter
Proceeds from term loans	`ProceedsFromIssuanceOfSecuredDebt`	-	USD	1 Quarter
Proceeds from term loans	`ProceedsFromIssuanceOfSecuredDebt`	$65.00M	USD	1 Quarter
Payments on term loans	`RepaymentsOfSecuredDebt`	$875.00K	USD	1 Quarter
Payments on term loans	`RepaymentsOfSecuredDebt`	$75.15M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$2.38M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$3.78M	USD	1 Quarter
Proceeds from employee stock purchase plan	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans`	$1.13M	USD	1 Quarter
Proceeds from employee stock purchase plan	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans`	$1.30M	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$2.43M	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$1.41M	USD	1 Quarter
Tax payments for stock-based compensation awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$966.00K	USD	1 Quarter
Tax payments for stock-based compensation awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	-	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$276.61M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-8.84M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$262.89M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$46.28M	USD	1 Quarter
Cash and cash equivalents, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$307.77M	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$289.93M	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$27.04M	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$354.05M	USD	Point-in-time
Cash and cash equivalents, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$307.77M	USD	Point-in-time
Cash and cash equivalents, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$289.93M	USD	Point-in-time
Cash and cash equivalents, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$27.04M	USD	Point-in-time
Cash and cash equivalents, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$354.05M	USD	Point-in-time
Buildings and equipment acquired under operating leases	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$53.76M	USD	1 Quarter
Buildings and equipment acquired under operating leases	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$63.58M	USD	1 Quarter
Cash paid for interest, net of capitalized interest	`InterestPaidNet`	$1.30M	USD	1 Quarter
Cash paid for interest, net of capitalized interest	`InterestPaidNet`	$1.38M	USD	1 Quarter
Cash paid for income taxes, net of refunds	`IncomeTaxesPaidNet`	$13.05M	USD	1 Quarter
Cash paid for income taxes, net of refunds	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Fixed assets accrued at the end of the period	`CapitalExpendituresIncurredButNotYetPaid`	$19.62M	USD	1 Quarter
Fixed assets accrued at the end of the period	`CapitalExpendituresIncurredButNotYetPaid`	$46.27M	USD	1 Quarter

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$764.34M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$809.29M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$997.39M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$1.08B	USD	Point-in-time
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.91M	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$4.73M	USD	1 Quarter
Exercise of stock options (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	195,073.00	shares	1 Quarter
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$3.78M	USD	1 Quarter
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$2.38M	USD	1 Quarter
Shares issued under employee stock purchase plan	`StockIssuedDuringPeriodValueEmployeeStockPurchasePlan`	$1.30M	USD	1 Quarter
Shares issued under employee stock purchase plan	`StockIssuedDuringPeriodValueEmployeeStockPurchasePlan`	$1.13M	USD	1 Quarter
Common stock redeemed for tax liability	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$966.00K	USD	1 Quarter
Other comprehensive gain, net of tax	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax`	$83.00K	USD	1 Quarter
Other comprehensive gain, net of tax	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax`	$68.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$75.80M	USD	1 Quarter
Net income	`NetIncomeLoss`	$37.06M	USD	1 Quarter
Ending balance	`StockholdersEquity`	$764.34M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$809.29M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$997.39M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$1.08B	USD	Point-in-time

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