10-Q Filing

LL FLOORING HOLDINGS, INC. CIK: 1396033 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001558370-22-006868`
Period End Date	20220331
Filing Date	20220504
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	ll-20220331x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 26 Cash Flow Statement 57 Stockholders Equity 20

Balance Sheet 68 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
Common Stock, shares, issued	`CommonStockSharesIssued`	30.54M	shares	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$56.07M	USD	Point-in-time
Common Stock, shares, issued	`CommonStockSharesIssued`	30.70M	shares	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$85.19M	USD	Point-in-time
Merchandise Inventories	`InventoryNet`	$254.38M	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	29.23M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	29.11M	shares	Point-in-time
Merchandise Inventories	`InventoryNet`	$318.57M	USD	Point-in-time
Treasury Stock, shares	`TreasuryStockShares`	1.42M	shares	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$10.55M	USD	Point-in-time
Treasury Stock, shares	`TreasuryStockShares`	1.47M	shares	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$9.16M	USD	Point-in-time
Other Current Assets	`OtherAssetsCurrent`	$11.09M	USD	Point-in-time
Other Current Assets	`OtherAssetsCurrent`	$12.79M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$359.83M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$397.99M	USD	Point-in-time
Property and Equipment, net	`PropertyPlantAndEquipmentNet`	$96.93M	USD	Point-in-time
Property and Equipment, net	`PropertyPlantAndEquipmentNet`	$99.36M	USD	Point-in-time
Operating Lease Right-of-Use Assets	`OperatingLeaseRightOfUseAsset`	$119.51M	USD	Point-in-time
Operating Lease Right-of-Use Assets	`OperatingLeaseRightOfUseAsset`	$125.75M	USD	Point-in-time
Goodwill	`Goodwill`	$9.69M	USD	Point-in-time
Goodwill	`Goodwill`	$9.69M	USD	Point-in-time
Net Deferred Tax Assets	`DeferredIncomeTaxAssetsNet`	$11.34M	USD	Point-in-time
Net Deferred Tax Assets	`DeferredIncomeTaxAssetsNet`	$11.18M	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$8.60M	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$6.66M	USD	Point-in-time
Total Assets	`Assets`	$605.89M	USD	Point-in-time
Total Assets	`Assets`	$650.63M	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$91.11M	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$63.46M	USD	Point-in-time
Customer Deposits and Store Credits	`CustomerDepositsAndStoreCredits`	$69.31M	USD	Point-in-time
Customer Deposits and Store Credits	`CustomerDepositsAndStoreCredits`	$67.06M	USD	Point-in-time
Accrued Compensation	`EmployeeRelatedLiabilitiesCurrent`	$10.13M	USD	Point-in-time
Accrued Compensation	`EmployeeRelatedLiabilitiesCurrent`	$7.61M	USD	Point-in-time
Sales and Income Tax Liabilities	`TaxesPayableCurrent`	$5.07M	USD	Point-in-time
Sales and Income Tax Liabilities	`TaxesPayableCurrent`	$4.30M	USD	Point-in-time
Accrual for Legal Matters and Settlements - Current	`LitigationReserveCurrent`	$33.61M	USD	Point-in-time
Accrual for Legal Matters and Settlements - Current	`LitigationReserveCurrent`	$32.53M	USD	Point-in-time
Operating Lease Liabilities - Current	`OperatingLeaseLiabilityCurrent`	$33.73M	USD	Point-in-time
Operating Lease Liabilities - Current	`OperatingLeaseLiabilityCurrent`	$33.06M	USD	Point-in-time
Other Current Liabilities	`OtherLiabilitiesCurrent`	$20.72M	USD	Point-in-time
Other Current Liabilities	`OtherLiabilitiesCurrent`	$26.40M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$265.76M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$232.34M	USD	Point-in-time
Other Long-Term Liabilities	`OtherLiabilitiesNoncurrent`	$5.71M	USD	Point-in-time
Other Long-Term Liabilities	`OtherLiabilitiesNoncurrent`	$4.27M	USD	Point-in-time
Operating Lease Liabilities - Long-Term	`OperatingLeaseLiabilityNoncurrent`	$97.16M	USD	Point-in-time
Operating Lease Liabilities - Long-Term	`OperatingLeaseLiabilityNoncurrent`	$102.65M	USD	Point-in-time
Total Liabilities	`Liabilities`	$374.13M	USD	Point-in-time
Total Liabilities	`Liabilities`	$333.77M	USD	Point-in-time
Common Stock ($0.001 par value; 35,000 shares authorized; 30,702 and 30,536 shares issued and 29,228 and 29,113 shares outstanding, respectively)	`CommonStockValue`	$31.00K	USD	Point-in-time
Common Stock ($0.001 par value; 35,000 shares authorized; 30,702 and 30,536 shares issued and 29,228 and 29,113 shares outstanding, respectively)	`CommonStockValue`	$31.00K	USD	Point-in-time
Treasury Stock, at cost (1,474 and 1,423 shares, respectively)	`TreasuryStockValue`	$145.34M	USD	Point-in-time
Treasury Stock, at cost (1,474 and 1,423 shares, respectively)	`TreasuryStockValue`	$146.15M	USD	Point-in-time
Additional Capital	`AdditionalPaidInCapitalCommonStock`	$227.80M	USD	Point-in-time
Additional Capital	`AdditionalPaidInCapitalCommonStock`	$228.96M	USD	Point-in-time
Retained Earnings	`RetainedEarningsAccumulatedDeficit`	$189.62M	USD	Point-in-time
Retained Earnings	`RetainedEarningsAccumulatedDeficit`	$193.66M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$238.12M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$276.50M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$272.12M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$227.61M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$650.63M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$605.89M	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Net Sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$283.45M	USD	1 Quarter
Net Sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$279.03M	USD	1 Quarter
Cost of Sales	`CostOfGoodsAndServicesSold`	$174.95M	USD	1 Quarter
Cost of Sales	`CostOfGoodsAndServicesSold`	$167.86M	USD	1 Quarter
Gross Profit	`GrossProfit`	$115.59M	USD	1 Quarter
Gross Profit	`GrossProfit`	$104.08M	USD	1 Quarter
Selling, General and Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$99.03M	USD	1 Quarter
Selling, General and Administrative Expenses	`SellingGeneralAndAdministrativeExpense`	$102.49M	USD	1 Quarter
Operating Income	`OperatingIncomeLoss`	$5.05M	USD	1 Quarter
Operating Income	`OperatingIncomeLoss`	$13.11M	USD	1 Quarter
Other (Income) Expense	`OtherNonoperatingIncomeExpense`	$15.00K	USD	1 Quarter
Other (Income) Expense	`OtherNonoperatingIncomeExpense`	$769.00K	USD	1 Quarter
Income Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$13.87M	USD	1 Quarter
Income Before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$5.07M	USD	1 Quarter
Income Tax (Benefit) Expense	`IncomeTaxExpenseBenefit`	$3.25M	USD	1 Quarter
Income Tax (Benefit) Expense	`IncomeTaxExpenseBenefit`	$1.03M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$4.04M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$10.62M	USD	1 Quarter
Net Income per Common Share-Basic	`EarningsPerShareBasic`	$0.14	USD	1 Quarter
Net Income per Common Share-Basic	`EarningsPerShareBasic`	$0.37	USD	1 Quarter
Net Income per Common Share-Diluted	`EarningsPerShareDiluted`	$0.36	USD	1 Quarter
Net Income per Common Share-Diluted	`EarningsPerShareDiluted`	$0.14	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	29.14M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	28.94M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	29.42M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	29.55M	shares	1 Quarter

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net Income (Loss)	`ProfitLoss`	$10.62M	USD	1 Quarter
Net Income (Loss)	`ProfitLoss`	$4.04M	USD	1 Quarter
Depreciation and Amortization	`DepreciationDepletionAndAmortization`	$4.66M	USD	1 Quarter
Depreciation and Amortization	`DepreciationDepletionAndAmortization`	$4.49M	USD	1 Quarter
Deferred Income Taxes Provision	`DeferredIncomeTaxExpenseBenefit`	$27.00K	USD	1 Quarter
Deferred Income Taxes Provision	`DeferredIncomeTaxExpenseBenefit`	$157.00K	USD	1 Quarter
Income on Vouchers Redeemed for Legal Settlements	`OtherNoncashIncome`	$423.00K	USD	1 Quarter
Income on Vouchers Redeemed for Legal Settlements	`OtherNoncashIncome`	$503.00K	USD	1 Quarter
Stock-Based Compensation Expense	`ShareBasedCompensation`	$1.23M	USD	1 Quarter
Stock-Based Compensation Expense	`ShareBasedCompensation`	$873.00K	USD	1 Quarter
Provision for Inventory Obsolescence Reserves	`InventoryWriteDown`	$26.00K	USD	1 Quarter
Provision for Inventory Obsolescence Reserves	`InventoryWriteDown`	$-110.00K	USD	1 Quarter
Loss (Gain) on Disposal of Fixed Assets	`DisposalGroupNotDiscontinuedOperationLossGainOnWriteDown`	$-30.00K	USD	1 Quarter
Loss (Gain) on Disposal of Fixed Assets	`DisposalGroupNotDiscontinuedOperationLossGainOnWriteDown`	$-9.00K	USD	1 Quarter
Merchandise Inventories	`IncreaseDecreaseInInventories`	$-18.00M	USD	1 Quarter
Merchandise Inventories	`IncreaseDecreaseInInventories`	$64.79M	USD	1 Quarter
Accounts Payable	`IncreaseDecreaseInAccountsPayable`	$6.04M	USD	1 Quarter
Accounts Payable	`IncreaseDecreaseInAccountsPayable`	$26.04M	USD	1 Quarter
Customer Deposits and Store Credits	`IncreaseDecreaseInCustomerDepositsAndStoreCredits`	$2.25M	USD	1 Quarter
Customer Deposits and Store Credits	`IncreaseDecreaseInCustomerDepositsAndStoreCredits`	$6.82M	USD	1 Quarter
Accrued Compensation	`IncreaseDecreaseInAccruedSalaries`	$-6.76M	USD	1 Quarter
Accrued Compensation	`IncreaseDecreaseInAccruedSalaries`	$-2.52M	USD	1 Quarter
Tariff Recovery Receivable	`IncreaseDecreaseInOtherReceivables`	$-3.01M	USD	1 Quarter
Prepaid Expenses and Other Current Assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.45M	USD	1 Quarter
Prepaid Expenses and Other Current Assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.30M	USD	1 Quarter
Accrual for Legal Matters and Settlements	`IncreaseDecreaseInOtherAccruedLiabilities`	$7.70M	USD	1 Quarter
Accrual for Legal Matters and Settlements	`IncreaseDecreaseInOtherAccruedLiabilities`	$53.00K	USD	1 Quarter
Other Assets and Liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$7.66M	USD	1 Quarter
Other Assets and Liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-9.01M	USD	1 Quarter
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$44.49M	USD	1 Quarter
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-23.40M	USD	1 Quarter
Purchases of Property and Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.30M	USD	1 Quarter
Purchases of Property and Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.25M	USD	1 Quarter
Other Investing Activities	`PaymentsForProceedsFromOtherInvestingActivities`	$-58.00K	USD	1 Quarter
Other Investing Activities	`PaymentsForProceedsFromOtherInvestingActivities`	$-61.00K	USD	1 Quarter
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.19M	USD	1 Quarter
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.24M	USD	1 Quarter
Common Stock Repurchased	`PaymentsForRepurchaseOfCommonStock`	$810.00K	USD	1 Quarter
Common Stock Repurchased	`PaymentsForRepurchaseOfCommonStock`	$1.38M	USD	1 Quarter
Other Financing Activities	`ProceedsFromPaymentsForOtherFinancingActivities`	$282.00K	USD	1 Quarter
Other Financing Activities	`ProceedsFromPaymentsForOtherFinancingActivities`	$41.00K	USD	1 Quarter
Net Cash Used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.33M	USD	1 Quarter
Net Cash Used in Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-528.00K	USD	1 Quarter
Net Increase in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$38.92M	USD	1 Quarter
Net Increase in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-29.12M	USD	1 Quarter
Cash and Cash Equivalents, Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$85.19M	USD	Point-in-time
Cash and Cash Equivalents, Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$208.86M	USD	Point-in-time
Cash and Cash Equivalents, Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$56.07M	USD	Point-in-time
Cash and Cash Equivalents, Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$169.94M	USD	Point-in-time
Cash and Cash Equivalents, End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$85.19M	USD	Point-in-time
Cash and Cash Equivalents, End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$208.86M	USD	Point-in-time
Cash and Cash Equivalents, End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$56.07M	USD	Point-in-time
Cash and Cash Equivalents, End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$169.94M	USD	Point-in-time
Relief of Inventory for Vouchers Redeemed for Legal Settlements	`LitigationSettlementAmountOfInventoryReliefForVouchersRedeemed`	$714.00K	USD	1 Quarter
Relief of Inventory for Vouchers Redeemed for Legal Settlements	`LitigationSettlementAmountOfInventoryReliefForVouchersRedeemed`	$977.00K	USD	1 Quarter
Tenant Improvement Allowance for Leases	`OtherSignificantNoncashTransactionValueOfConsiderationGiven1`	$665.00K	USD	1 Quarter
Tenant Improvement Allowance for Leases	`OtherSignificantNoncashTransactionValueOfConsiderationGiven1`	$585.00K	USD	1 Quarter

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$238.12M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$276.50M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$272.12M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$227.61M	USD	Point-in-time
Beginning Balance, Treasury (in shares)	`TreasuryStockShares`	1.42M	shares	Point-in-time
Beginning Balance, Treasury (in shares)	`TreasuryStockShares`	1.47M	shares	Point-in-time
Stock-Based Compensation Expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$873.00K	USD	1 Quarter
Stock-Based Compensation Expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.23M	USD	1 Quarter
Exercise of Stock Options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$41.00K	USD	1 Quarter
Exercise of Stock Options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$282.00K	USD	1 Quarter
Common Stock Repurchased	`CommonStockRepurchased`	$1.38M	USD	1 Quarter
Common Stock Repurchased	`CommonStockRepurchased`	$810.00K	USD	1 Quarter
Net Income	`NetIncomeLoss`	$4.04M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$10.62M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$238.12M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$276.50M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$272.12M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$227.61M	USD	Point-in-time
Ending Balance, Treasury (in shares)	`TreasuryStockShares`	1.42M	shares	Point-in-time
Ending Balance, Treasury (in shares)	`TreasuryStockShares`	1.47M	shares	Point-in-time

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