10-Q Filing

Floor & Decor Holdings, Inc. CIK: 1507079 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001507079-22-000017`
Period End Date	20220331
Filing Date	20220505
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	fnd-20220331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 32 Cash Flow Statement 68 Stockholders Equity 21

Balance Sheet 80 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
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$307.77M	USD	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$139.44M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$31.83M	USD	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$354.05M	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	-	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$3.51M	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
Receivables, net	`ReceivablesExcludingIncomeTaxesNetCurrent`	$81.46M	USD	Point-in-time
Receivables, net	`ReceivablesExcludingIncomeTaxesNetCurrent`	$97.75M	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`	$1.15B	USD	Point-in-time
Inventories, net	`InventoryNet`	$1.01B	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$40.78M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$43.37M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.27B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.32B	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$1.01B	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$929.08M	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$1.14B	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$1.10B	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$151.94M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$151.80M	USD	Point-in-time
Goodwill	`Goodwill`	$255.47M	USD	Point-in-time
Goodwill	`Goodwill`	$255.47M	USD	Point-in-time
Deferred income tax assets, net	`DeferredIncomeTaxAssetsNet`	$9.00M	USD	Point-in-time
Deferred income tax assets, net	`DeferredIncomeTaxAssetsNet`	$9.83M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$10.18M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$7.28M	USD	Point-in-time
Total long-term assets	`AssetsNoncurrent`	$2.57B	USD	Point-in-time
Total long-term assets	`AssetsNoncurrent`	$2.46B	USD	Point-in-time
Total assets	`Assets`	$3.73B	USD	Point-in-time
Total assets	`Assets`	$3.89B	USD	Point-in-time
Current portion of term loans	`LongTermDebtCurrent`	$1.58M	USD	Point-in-time
Current portion of term loans	`LongTermDebtCurrent`	$2.10M	USD	Point-in-time
Current portion of lease liabilities	`OperatingLeaseLiabilityCurrent`	$109.67M	USD	Point-in-time
Current portion of lease liabilities	`OperatingLeaseLiabilityCurrent`	$104.60M	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$688.49M	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$661.88M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$254.75M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$248.94M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$16.81M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$22.02M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$14.49M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.09B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.03B	USD	Point-in-time
Term loans	`LongTermLoansPayable`	$195.76M	USD	Point-in-time
Term loans	`LongTermLoansPayable`	$195.66M	USD	Point-in-time
Lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$1.15B	USD	Point-in-time
Lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$1.12B	USD	Point-in-time
Deferred income tax liabilities, net	`DeferredIncomeTaxLiabilitiesNet`	$40.96M	USD	Point-in-time
Deferred income tax liabilities, net	`DeferredIncomeTaxLiabilitiesNet`	$40.82M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$9.22M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$17.77M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$1.38B	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$1.40B	USD	Point-in-time
Total liabilities	`Liabilities`	$2.49B	USD	Point-in-time
Total liabilities	`Liabilities`	$2.41B	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 March 31, 2022 and December 30, 2021	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 10,000,000 shares authorized; 0 shares issued and outstanding at March 31, 2022 and December 30, 2021	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$457.05M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$450.33M	USD	Point-in-time
Accumulated other comprehensive income, net	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$535.00K	USD	Point-in-time
Accumulated other comprehensive income, net	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$2.09M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$943.18M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$872.23M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.08B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$997.39M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.40B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.32B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$3.89B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$3.73B	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.03B	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$782.54M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$620.68M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$445.60M	USD	1 Quarter
Gross profit	`GrossProfit`	$336.93M	USD	1 Quarter
Gross profit	`GrossProfit`	$408.06M	USD	1 Quarter
Selling and store operating	`SellingExpense`	$189.95M	USD	1 Quarter
Selling and store operating	`SellingExpense`	$249.50M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$54.65M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$44.04M	USD	1 Quarter
Pre-opening	`PreOpeningCosts`	$7.00M	USD	1 Quarter
Pre-opening	`PreOpeningCosts`	$9.94M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$314.09M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$240.98M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$93.97M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$95.95M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$1.16M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$1.39M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$94.56M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$92.81M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$21.86M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$18.77M	USD	1 Quarter
Net income	`NetIncomeLoss`	$70.95M	USD	1 Quarter
Net income	`NetIncomeLoss`	$75.80M	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`	$1.55M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$75.88M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$72.50M	USD	1 Quarter
Basic earnings per share (in dollars per share)	`EarningsPerShareBasic`	$0.73	USD	1 Quarter
Basic earnings per share (in dollars per share)	`EarningsPerShareBasic`	$0.67	USD	1 Quarter
Diluted earnings per share (in dollars per share)	`EarningsPerShareDiluted`	$0.71	USD	1 Quarter
Diluted earnings per share (in dollars per share)	`EarningsPerShareDiluted`	$0.66	USD	1 Quarter

Cash Flow Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$70.95M	USD	1 Quarter
Net income	`NetIncomeLoss`	$75.80M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$26.41M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$34.61M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$4.73M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$5.98M	USD	1 Quarter
Change in fair value of contingent earn-out liabilities	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	-	USD	1 Quarter
Change in fair value of contingent earn-out liabilities	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$364.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$237.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$4.46M	USD	1 Quarter
Interest cap derivative contracts	`AmortizationOfDeferredHedgeGains`	$29.00K	USD	1 Quarter
Interest cap derivative contracts	`AmortizationOfDeferredHedgeGains`	$84.00K	USD	1 Quarter
Receivables, net	`IncreaseDecreaseInReceivables`	$9.57M	USD	1 Quarter
Receivables, net	`IncreaseDecreaseInReceivables`	$16.29M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$-46.35M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$141.36M	USD	1 Quarter
Trade accounts payable	`IncreaseDecreaseInAccountsPayable`	$-13.38M	USD	1 Quarter
Trade accounts payable	`IncreaseDecreaseInAccountsPayable`	$27.66M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-3.97M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-16.20M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$19.84M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$1.24M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$7.53M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$5.54M	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingLiabilities`	$-8.92M	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingLiabilities`	$-24.48M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.33M	USD	1 Quarter
Net cash (used in) 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`	$100.90M	USD	1 Quarter
Acquisition, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Acquisition, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$490.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-45.88M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-101.39M	USD	1 Quarter
Proceeds from term loans	`ProceedsFromIssuanceOfSecuredDebt`	$65.00M	USD	1 Quarter
Proceeds from term loans	`ProceedsFromIssuanceOfSecuredDebt`	-	USD	1 Quarter
Payments on term loans	`RepaymentsOfSecuredDebt`	$1.05M	USD	1 Quarter
Payments on term loans	`RepaymentsOfSecuredDebt`	$75.15M	USD	1 Quarter
Payments of contingent earn-out consideration	`PaymentForContingentConsiderationLiabilityFinancingActivities`	-	USD	1 Quarter
Payments of contingent earn-out consideration	`PaymentForContingentConsiderationLiabilityFinancingActivities`	$2.57M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$577.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$2.38M	USD	1 Quarter
Proceeds from employee stock purchase plan	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans`	$1.30M	USD	1 Quarter
Proceeds from employee stock purchase plan	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans`	$1.96M	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$1.41M	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	-	USD	1 Quarter
Tax payments for stock-based compensation awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.81M	USD	1 Quarter
Tax payments for stock-based compensation awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$966.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-8.84M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.89M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-107.62M	USD	1 Quarter
Net (decrease) 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`	$139.44M	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$31.83M	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`	$139.44M	USD	Point-in-time
Cash and cash equivalents, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$31.83M	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`	$61.18M	USD	1 Quarter
Buildings and equipment acquired under operating leases	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$53.76M	USD	1 Quarter
Cash paid for interest, net of capitalized interest	`InterestPaidNet`	$1.10M	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`	$1.76M	USD	1 Quarter
Fixed assets accrued at the end of the period	`CapitalExpendituresIncurredButNotYetPaid`	$104.23M	USD	1 Quarter
Fixed assets accrued at the end of the period	`CapitalExpendituresIncurredButNotYetPaid`	$46.27M	USD	1 Quarter

Stockholders Equity 21 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$1.08B	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$997.39M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$1.40B	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$1.32B	USD	Point-in-time
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$4.73M	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$5.98M	USD	1 Quarter
Exercise of stock options (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	32,025.00	shares	1 Quarter
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$2.38M	USD	1 Quarter
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$577.00K	USD	1 Quarter
Shares issued under employee stock purchase plan	`StockIssuedDuringPeriodValueEmployeeStockPurchasePlan`	$1.96M	USD	1 Quarter
Shares issued under employee stock purchase plan	`StockIssuedDuringPeriodValueEmployeeStockPurchasePlan`	$1.30M	USD	1 Quarter
Common stock redeemed for tax liability	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.81M	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`	$1.55M	USD	1 Quarter
Net income	`NetIncomeLoss`	$70.95M	USD	1 Quarter
Net income	`NetIncomeLoss`	$75.80M	USD	1 Quarter
Ending balance	`StockholdersEquity`	$1.08B	USD	Point-in-time
Ending balance	`StockholdersEquity`	$997.39M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$1.40B	USD	Point-in-time
Ending balance	`StockholdersEquity`	$1.32B	USD	Point-in-time

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