10-Q Filing

Floor & Decor Holdings, Inc. CIK: 1507079 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001558370-20-004811`
Period End Date	20200331
Filing Date	20200430
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	fnd-20200430x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 77 Income Statement 32 Cash Flow Statement 62 Stockholders Equity 21

Balance Sheet 77 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$27.04M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$451.00K	USD	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$644.00K	USD	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$289.93M	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$2.87M	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	-	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Receivables, net	`ReceivablesExcludingIncomeTaxesNetCurrent`	$50.56M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Receivables, net	`ReceivablesExcludingIncomeTaxesNetCurrent`	$69.30M	USD	Point-in-time
Inventories, net	`InventoryNet`	$581.87M	USD	Point-in-time
Inventories, net	`InventoryNet`	$588.94M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$20.41M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$21.56M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$701.49M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$951.00M	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$473.08M	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$456.29M	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$822.26M	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$865.51M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$109.29M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$109.30M	USD	Point-in-time
Goodwill	`Goodwill`	$227.45M	USD	Point-in-time
Goodwill	`Goodwill`	$227.45M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$7.53M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$7.55M	USD	Point-in-time
Total long-term assets	`AssetsNoncurrent`	$1.68B	USD	Point-in-time
Total long-term assets	`AssetsNoncurrent`	$1.62B	USD	Point-in-time
Total assets	`Assets`	$2.63B	USD	Point-in-time
Total assets	`Assets`	$2.32B	USD	Point-in-time
Current portion of term loans	`LongTermDebtCurrent`	$1.81M	USD	Point-in-time
Current portion of term loans	`LongTermDebtCurrent`	-	USD	Point-in-time
Current portion of lease liabilities	`OperatingLeaseLiabilityCurrent`	$67.59M	USD	Point-in-time
Current portion of lease liabilities	`OperatingLeaseLiabilityCurrent`	$74.59M	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$319.81M	USD	Point-in-time
Trade accounts payable	`AccountsPayableCurrent`	$368.46M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$102.81M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$100.42M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$9.67M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$6.68M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$7.19M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$506.50M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$552.54M	USD	Point-in-time
Term loans	`LongTermLoansPayable`	$138.33M	USD	Point-in-time
Term loans	`LongTermLoansPayable`	$142.61M	USD	Point-in-time
Revolving line of credit	`LongTermLineOfCredit`	$275.00M	USD	Point-in-time
Revolving line of credit	`LongTermLineOfCredit`	-	USD	Point-in-time
Lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$844.27M	USD	Point-in-time
Lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$889.02M	USD	Point-in-time
Deferred income tax liabilities, net	`DeferredIncomeTaxLiabilitiesNet`	$18.38M	USD	Point-in-time
Deferred income tax liabilities, net	`DeferredIncomeTaxLiabilitiesNet`	$13.63M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$2.11M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$2.18M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$1.01B	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$1.32B	USD	Point-in-time
Total liabilities	`Liabilities`	$1.56B	USD	Point-in-time
Total liabilities	`Liabilities`	$1.82B	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 26, 2020 and December 26, 2019	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 10,000,000 shares authorized; 0 shares issued and outstanding at March 26, 2020 and December 26, 2019	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$378.23M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$370.41M	USD	Point-in-time
Accumulated other comprehensive (loss) income, net	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-193.00K	USD	Point-in-time
Accumulated other comprehensive (loss) income, net	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-125.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$394.01M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$431.08M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$619.96M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$584.31M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$809.29M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$764.34M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$2.63B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$2.32B	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net Sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$477.05M	USD	1 Quarter
Net Sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$554.94M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$318.90M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$275.68M	USD	1 Quarter
Gross profit	`GrossProfit`	$201.37M	USD	1 Quarter
Gross profit	`GrossProfit`	$236.03M	USD	1 Quarter
Selling and store operating	`SellingExpense`	$153.07M	USD	1 Quarter
Selling and store operating	`SellingExpense`	$127.38M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$30.86M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$30.20M	USD	1 Quarter
Pre-opening	`PreOpeningCosts`	$5.43M	USD	1 Quarter
Pre-opening	`PreOpeningCosts`	$4.03M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$189.36M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$161.61M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$39.76M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$46.67M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$2.92M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$1.81M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$44.87M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$36.84M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$7.80M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$6.12M	USD	1 Quarter
Net income	`NetIncomeLoss`	$37.06M	USD	1 Quarter
Net income	`NetIncomeLoss`	$30.72M	USD	1 Quarter
Change in fair value of hedge instruments, net of tax, post-adoption	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax`	$-334.00K	USD	1 Quarter
Change in fair value of hedge instruments, net of tax, post-adoption	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax`	$68.00K	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$37.13M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$30.39M	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$0.36	USD	1 Quarter
Basic earnings per share	`EarningsPerShareBasic`	$0.31	USD	1 Quarter
Diluted earnings per share	`EarningsPerShareDiluted`	$0.35	USD	1 Quarter
Diluted earnings per share	`EarningsPerShareDiluted`	$0.29	USD	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$37.06M	USD	1 Quarter
Net income	`ProfitLoss`	$30.72M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$17.18M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$22.09M	USD	1 Quarter
Gain on asset impairments and disposals	`GainLossOnSalesOfAssetsAndAssetImpairmentCharges`	-	USD	1 Quarter
Gain on asset impairments and disposals	`GainLossOnSalesOfAssetsAndAssetImpairmentCharges`	$29.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-4.74M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.06M	USD	1 Quarter
Interest cap derivative contracts	`AmortizationOfDeferredHedgeGains`	$83.00K	USD	1 Quarter
Interest cap derivative contracts	`AmortizationOfDeferredHedgeGains`	$610.00K	USD	1 Quarter
Stock based compensation expense	`ShareBasedCompensation`	$2.91M	USD	1 Quarter
Stock based compensation expense	`ShareBasedCompensation`	$2.25M	USD	1 Quarter
Receivables, net	`IncreaseDecreaseInReceivables`	$-18.74M	USD	1 Quarter
Receivables, net	`IncreaseDecreaseInReceivables`	$-22.57M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$-33.51M	USD	1 Quarter
Inventories, net	`IncreaseDecreaseInInventories`	$7.08M	USD	1 Quarter
Trade accounts payable	`IncreaseDecreaseInAccountsPayable`	$-48.64M	USD	1 Quarter
Trade accounts payable	`IncreaseDecreaseInAccountsPayable`	$-84.00M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$3.02M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-2.48M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$13.14M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$12.54M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$506.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$1.34M	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingLiabilities`	$-12.26M	USD	1 Quarter
Other, net	`IncreaseDecreaseInOtherOperatingLiabilities`	$-6.30M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$24.67M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$27.02M	USD	1 Quarter
Purchases of fixed assets	`PaymentsToAcquireProductiveAssets`	$31.63M	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`	$-31.63M	USD	1 Quarter
Borrowings on revolving line of credit	`ProceedsFromLongTermLinesOfCredit`	$275.00M	USD	1 Quarter
Borrowings on revolving line of credit	`ProceedsFromLongTermLinesOfCredit`	$80.20M	USD	1 Quarter
Payments on revolving line of credit	`RepaymentsOfLongTermLinesOfCredit`	$78.10M	USD	1 Quarter
Payments on revolving line of credit	`RepaymentsOfLongTermLinesOfCredit`	-	USD	1 Quarter
Payments on term loans	`RepaymentsOfSecuredDebt`	$875.00K	USD	1 Quarter
Payments on term loans	`RepaymentsOfSecuredDebt`	$875.00K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$3.78M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$1.78M	USD	1 Quarter
Proceeds from employee stock purchase plan	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans`	$1.42M	USD	1 Quarter
Proceeds from employee stock purchase plan	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans`	$1.13M	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	-	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$2.43M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$276.61M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$4.42M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-193.00K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$262.89M	USD	1 Quarter
Cash and cash equivalents, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$27.04M	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$451.00K	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$644.00K	USD	Point-in-time
Cash and cash equivalents, beginning 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`	$451.00K	USD	Point-in-time
Cash and cash equivalents, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$644.00K	USD	Point-in-time
Cash and cash equivalents, end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$289.93M	USD	Point-in-time
Buildings and equipment acquired under operating leases	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$63.58M	USD	1 Quarter
Buildings and equipment acquired under operating leases	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$53.05M	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$1.99M	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$1.30M	USD	1 Quarter
Fixed assets accrued at the end of the period	`CapitalExpendituresIncurredButNotYetPaid`	$10.84M	USD	1 Quarter
Fixed assets accrued at the end of the period	`CapitalExpendituresIncurredButNotYetPaid`	$19.62M	USD	1 Quarter

Stockholders Equity 21 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$619.96M	USD	Point-in-time
Balance	`StockholdersEquity`	$584.31M	USD	Point-in-time
Balance	`StockholdersEquity`	$809.29M	USD	Point-in-time
Balance	`StockholdersEquity`	$764.34M	USD	Point-in-time
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.25M	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.91M	USD	1 Quarter
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$3.78M	USD	1 Quarter
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$1.78M	USD	1 Quarter
Exercise of stock options (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	453,330.00	shares	1 Quarter
Shares issued under employee stock plan	`StockIssuedDuringPeriodValueEmployeeStockPurchasePlan`	$1.13M	USD	1 Quarter
Shares issued under employee stock plan	`StockIssuedDuringPeriodValueEmployeeStockPurchasePlan`	$1.42M	USD	1 Quarter
Issuance of restricted stock award	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	-	USD	1 Quarter
Other comprehensive gain (loss), net of tax, post-adoption	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax`	$-334.00K	USD	1 Quarter
Other comprehensive gain (loss), net of tax, post-adoption	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax`	$68.00K	USD	1 Quarter
Cumulative effect from adoption	`CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption`	$-179.00K	USD	Point-in-time
Net income	`NetIncomeLoss`	$37.06M	USD	1 Quarter
Net income	`NetIncomeLoss`	$30.72M	USD	1 Quarter
Balance	`StockholdersEquity`	$619.96M	USD	Point-in-time
Balance	`StockholdersEquity`	$584.31M	USD	Point-in-time
Balance	`StockholdersEquity`	$809.29M	USD	Point-in-time
Balance	`StockholdersEquity`	$764.34M	USD	Point-in-time

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