10-Q Filing

LL FLOORING HOLDINGS, INC. CIK: 1396033 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001558370-20-007031`
Period End Date	20200331
Filing Date	20200528
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	ll-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 77 Income Statement 26 Cash Flow Statement 52 Stockholders Equity 19 Comprehensive Income 8

Balance Sheet 77 line items

Line Item	Tag	Value	Unit	Period
Common Stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	35.00M	shares	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	35.00M	shares	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$22.42M	USD	Point-in-time
Common Stock, shares, issued	`CommonStockSharesIssued`	29.96M	shares	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.99M	USD	Point-in-time
Common Stock, shares, issued	`CommonStockSharesIssued`	30.11M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	28.81M	shares	Point-in-time
Merchandise Inventories	`InventoryNet`	$269.64M	USD	Point-in-time
Merchandise Inventories	`InventoryNet`	$286.37M	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	28.71M	shares	Point-in-time
Treasury Stock, shares	`TreasuryStockShares`	1.29M	shares	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$6.05M	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$8.29M	USD	Point-in-time
Treasury Stock, shares	`TreasuryStockShares`	1.25M	shares	Point-in-time
Income Tax Receivable	`IncomeTaxesReceivable`	$1.97M	USD	Point-in-time
Deposit for Legal Settlement	`DepositsAssetsCurrent`	$21.50M	USD	Point-in-time
Deposit for Legal Settlement	`DepositsAssetsCurrent`	$21.50M	USD	Point-in-time
Tariff Recovery Receivable	`AccountsAndOtherReceivablesNetCurrent`	$27.02M	USD	Point-in-time
Tariff Recovery Receivable	`AccountsAndOtherReceivablesNetCurrent`	$27.16M	USD	Point-in-time
Other Current Assets	`OtherAssetsCurrent`	$6.00M	USD	Point-in-time
Other Current Assets	`OtherAssetsCurrent`	$6.94M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$359.11M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$354.74M	USD	Point-in-time
Property and Equipment, net	`PropertyPlantAndEquipmentNet`	$98.73M	USD	Point-in-time
Property and Equipment, net	`PropertyPlantAndEquipmentNet`	$98.47M	USD	Point-in-time
Operating Lease Right-of-Use Assets	`OperatingLeaseRightOfUseAsset`	$120.07M	USD	Point-in-time
Operating Lease Right-of-Use Assets	`OperatingLeaseRightOfUseAsset`	$121.80M	USD	Point-in-time
Goodwill	`Goodwill`	$9.69M	USD	Point-in-time
Goodwill	`Goodwill`	$9.69M	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$6.67M	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$6.85M	USD	Point-in-time
Total Assets	`Assets`	$589.82M	USD	Point-in-time
Total Assets	`Assets`	$596.01M	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$68.63M	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$59.83M	USD	Point-in-time
Customer Deposits and Store Credits	`CustomerDepositsAndStoreCredits`	$37.84M	USD	Point-in-time
Customer Deposits and Store Credits	`CustomerDepositsAndStoreCredits`	$41.57M	USD	Point-in-time
Accrued Compensation	`EmployeeRelatedLiabilitiesCurrent`	$11.74M	USD	Point-in-time
Accrued Compensation	`EmployeeRelatedLiabilitiesCurrent`	$9.94M	USD	Point-in-time
Sales and Income Tax Liabilities	`TaxesPayableCurrent`	$7.22M	USD	Point-in-time
Sales and Income Tax Liabilities	`TaxesPayableCurrent`	$4.66M	USD	Point-in-time
Accrual for Legal Matters and Settlements - Current	`LitigationReserveCurrent`	$67.47M	USD	Point-in-time
Accrual for Legal Matters and Settlements - Current	`LitigationReserveCurrent`	$67.47M	USD	Point-in-time
Operating Lease Liabilities - Current	`OperatingLeaseLiabilityCurrent`	$31.38M	USD	Point-in-time
Operating Lease Liabilities - Current	`OperatingLeaseLiabilityCurrent`	$31.33M	USD	Point-in-time
Other Current Liabilities	`OtherLiabilitiesCurrent`	$18.84M	USD	Point-in-time
Other Current Liabilities	`OtherLiabilitiesCurrent`	$18.94M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$238.75M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$238.11M	USD	Point-in-time
Other Long-Term Liabilities	`OtherLiabilitiesNoncurrent`	$13.76M	USD	Point-in-time
Other Long-Term Liabilities	`OtherLiabilitiesNoncurrent`	$14.01M	USD	Point-in-time
Operating Lease Liabilities - Long-Term	`OperatingLeaseLiabilityNoncurrent`	$98.92M	USD	Point-in-time
Operating Lease Liabilities - Long-Term	`OperatingLeaseLiabilityNoncurrent`	$100.47M	USD	Point-in-time
Deferred Tax Liability	`DeferredIncomeTaxLiabilitiesNet`	$426.00K	USD	Point-in-time
Deferred Tax Liability	`DeferredIncomeTaxLiabilitiesNet`	$804.00K	USD	Point-in-time
Credit Agreement	`LongTermLineOfCredit`	$64.00M	USD	Point-in-time
Credit Agreement	`LongTermLineOfCredit`	$82.00M	USD	Point-in-time
Total Liabilities	`Liabilities`	$434.76M	USD	Point-in-time
Total Liabilities	`Liabilities`	$416.49M	USD	Point-in-time
Common Stock ($0.001 par value; 35,000 shares authorized; 30,105 and 29,958 shares issued and 28,812 and 28,714 shares outstanding, respectively.	`CommonStockValue`	$30.00K	USD	Point-in-time
Common Stock ($0.001 par value; 35,000 shares authorized; 30,105 and 29,958 shares issued and 28,812 and 28,714 shares outstanding, respectively.	`CommonStockValue`	$30.00K	USD	Point-in-time
Treasury Stock, at cost (1,293 and 1,245 shares, respectively)	`TreasuryStockValue`	$142.63M	USD	Point-in-time
Treasury Stock, at cost (1,293 and 1,245 shares, respectively)	`TreasuryStockValue`	$142.31M	USD	Point-in-time
Additional Capital	`AdditionalPaidInCapitalCommonStock`	$218.62M	USD	Point-in-time
Additional Capital	`AdditionalPaidInCapitalCommonStock`	$218.74M	USD	Point-in-time
Retained Earnings	`RetainedEarningsAccumulatedDeficit`	$86.50M	USD	Point-in-time
Retained Earnings	`RetainedEarningsAccumulatedDeficit`	$98.73M	USD	Point-in-time
Accumulated Other Comprehensive Loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.53M	USD	Point-in-time
Accumulated Other Comprehensive Loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.58M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$143.32M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$161.25M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$147.40M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$173.33M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$589.82M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$596.01M	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Net Sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$266.22M	USD	1 Quarter
Net Sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$267.37M	USD	1 Quarter
Cost of Sales	`CostOfGoodsAndServicesSold`	$162.40M	USD	1 Quarter
Cost of Sales	`CostOfGoodsAndServicesSold`	$172.61M	USD	1 Quarter
Gross Profit	`GrossProfit`	$104.97M	USD	1 Quarter
Gross Profit	`GrossProfit`	$93.61M	USD	1 Quarter
Selling, General and Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$97.03M	USD	1 Quarter
Selling, General and Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$96.21M	USD	1 Quarter
Operating Income (Loss)	`OperatingIncomeLoss`	$8.77M	USD	1 Quarter
Operating Income (Loss)	`OperatingIncomeLoss`	$-3.42M	USD	1 Quarter
Other Expense	`OtherNonoperatingExpense`	$883.00K	USD	1 Quarter
Other Expense	`OtherNonoperatingExpense`	$1.29M	USD	1 Quarter
Income (Loss) Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$7.88M	USD	1 Quarter
Income (Loss) Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-4.71M	USD	1 Quarter
Income Tax (Benefit) Expense	`IncomeTaxExpenseBenefit`	$-4.35M	USD	1 Quarter
Income Tax (Benefit) Expense	`IncomeTaxExpenseBenefit`	$213.00K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$12.23M	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-4.92M	USD	1 Quarter
Net Income (Loss) per Common Share-Basic	`EarningsPerShareBasic`	$0.43	USD	1 Quarter
Net Income (Loss) per Common Share-Basic	`EarningsPerShareBasic`	$-0.17	USD	1 Quarter
Net Income (Loss) per Common Share-Diluted	`EarningsPerShareDiluted`	$0.42	USD	1 Quarter
Net Income (Loss) per Common Share-Diluted	`EarningsPerShareDiluted`	$-0.17	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	28.74M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	28.65M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	28.85M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	28.65M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net Income (Loss)	`ProfitLoss`	$12.23M	USD	1 Quarter
Net Income (Loss)	`ProfitLoss`	$-4.92M	USD	1 Quarter
Depreciation and Amortization	`DepreciationDepletionAndAmortization`	$4.49M	USD	1 Quarter
Depreciation and Amortization	`DepreciationDepletionAndAmortization`	$4.31M	USD	1 Quarter
Deferred Income Taxes Provision	`DeferredIncomeTaxExpenseBenefit`	$378.00K	USD	1 Quarter
Stock-Based Compensation Expense	`ShareBasedCompensation`	$1.03M	USD	1 Quarter
Stock-Based Compensation Expense	`ShareBasedCompensation`	$120.00K	USD	1 Quarter
Provision for Inventory Obsolescence Reserves	`InventoryWriteDown`	$452.00K	USD	1 Quarter
Provision for Inventory Obsolescence Reserves	`InventoryWriteDown`	$177.00K	USD	1 Quarter
(Gain) Loss on Disposal of Fixed Assets	`DisposalGroupNotDiscontinuedOperationLossGainOnWriteDown`	$-743.00K	USD	1 Quarter
(Gain) Loss on Disposal of Fixed Assets	`DisposalGroupNotDiscontinuedOperationLossGainOnWriteDown`	$53.00K	USD	1 Quarter
Merchandise Inventories	`IncreaseDecreaseInInventories`	$-17.10M	USD	1 Quarter
Merchandise Inventories	`IncreaseDecreaseInInventories`	$-16.38M	USD	1 Quarter
Accounts Payable	`IncreaseDecreaseInAccountsPayable`	$-16.93M	USD	1 Quarter
Accounts Payable	`IncreaseDecreaseInAccountsPayable`	$9.05M	USD	1 Quarter
Customer Deposits and Store Credits	`IncreaseDecreaseInCustomerDepositsAndStoreCredits`	$7.43M	USD	1 Quarter
Customer Deposits and Store Credits	`IncreaseDecreaseInCustomerDepositsAndStoreCredits`	$-3.73M	USD	1 Quarter
Prepaid Expenses and Other Current Assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-2.00M	USD	1 Quarter
Prepaid Expenses and Other Current Assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$4.06M	USD	1 Quarter
Accrual for Legal Matters and Settlements	`IncreaseDecreaseInOtherAccruedLiabilities`	$350.00K	USD	1 Quarter
Other Assets and Liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-1.94M	USD	1 Quarter
Other Assets and Liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$4.67M	USD	1 Quarter
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$35.97M	USD	1 Quarter
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$6.48M	USD	1 Quarter
Purchases of Property and Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.25M	USD	1 Quarter
Purchases of Property and Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.48M	USD	1 Quarter
Other Investing Activities	`PaymentsForProceedsFromOtherInvestingActivities`	$-306.00K	USD	1 Quarter
Other Investing Activities	`PaymentsForProceedsFromOtherInvestingActivities`	$-17.00K	USD	1 Quarter
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.17M	USD	1 Quarter
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.23M	USD	1 Quarter
Borrowings on Credit Agreement	`ProceedsFromLinesOfCredit`	$8.00M	USD	1 Quarter
Borrowings on Credit Agreement	`ProceedsFromLinesOfCredit`	$13.00M	USD	1 Quarter
Payments on Credit Agreement	`RepaymentsOfLinesOfCredit`	$26.00M	USD	1 Quarter
Payments on Credit Agreement	`RepaymentsOfLinesOfCredit`	$11.00M	USD	1 Quarter
Other Financing Activities	`ProceedsFromPaymentsForOtherFinancingActivities`	$-316.00K	USD	1 Quarter
Other Financing Activities	`ProceedsFromPaymentsForOtherFinancingActivities`	$-727.00K	USD	1 Quarter
Net Cash (Used in) Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-18.32M	USD	1 Quarter
Net Cash (Used in) Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$1.27M	USD	1 Quarter
Effect of Exchange Rates on Cash and Cash Equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$1.00M	USD	1 Quarter
Effect of Exchange Rates on Cash and Cash Equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-44.00K	USD	1 Quarter
Net Increase in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$5.53M	USD	1 Quarter
Net Increase in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$13.43M	USD	1 Quarter
Cash and Cash Equivalents, Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.99M	USD	Point-in-time
Cash and Cash Equivalents, Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$11.56M	USD	Point-in-time
Cash and Cash Equivalents, Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$22.42M	USD	Point-in-time
Cash and Cash Equivalents, Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.09M	USD	Point-in-time
Cash and Cash Equivalents, End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.99M	USD	Point-in-time
Cash and Cash Equivalents, End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$11.56M	USD	Point-in-time
Cash and Cash Equivalents, End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$22.42M	USD	Point-in-time
Cash and Cash Equivalents, End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.09M	USD	Point-in-time
Tenant Improvement Allowance for Leases	`OtherSignificantNoncashTransactionValueOfConsiderationGiven1`	$146.00K	USD	1 Quarter
Tenant Improvement Allowance for Leases	`OtherSignificantNoncashTransactionValueOfConsiderationGiven1`	$496.00K	USD	1 Quarter

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$143.32M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$161.25M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$147.40M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$173.33M	USD	Point-in-time
Stock-Based Compensation Expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.05M	USD	1 Quarter
Stock-Based Compensation Expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$120.00K	USD	1 Quarter
Common Stock Repurchased	`TreasuryStockValueAcquiredCostMethod`	$316.00K	USD	1 Quarter
Common Stock Repurchased	`TreasuryStockValueAcquiredCostMethod`	$329.00K	USD	1 Quarter
Common Stock Repurchased (in shares)	`TreasuryStockSharesAcquired`	0.00	shares	1 Quarter
Common Stock Repurchased (in shares)	`TreasuryStockSharesAcquired`	0.00	shares	Annual
Common Stock Repurchased (in shares)	`TreasuryStockSharesAcquired`	0.00	shares	Annual
Translation Adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$117.00K	USD	1 Quarter
Translation Adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$45.00K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$12.23M	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-4.92M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$143.32M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$161.25M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$147.40M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$173.33M	USD	Point-in-time

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net Income (Loss)	`NetIncomeLoss`	$12.23M	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-4.92M	USD	1 Quarter
Foreign Currency Translation Adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$117.00K	USD	1 Quarter
Foreign Currency Translation Adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$45.00K	USD	1 Quarter
Total Other Comprehensive Income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$45.00K	USD	1 Quarter
Total Other Comprehensive Income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$117.00K	USD	1 Quarter
Comprehensive Income (Loss)	`ComprehensiveIncomeNetOfTax`	$12.28M	USD	1 Quarter
Comprehensive Income (Loss)	`ComprehensiveIncomeNetOfTax`	$-4.81M	USD	1 Quarter

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