10-Q Filing

Kontoor Brands, Inc. CIK: 1760965 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001760965-19-000006`
Period End Date	20190331
Filing Date	20190620
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	ktbq1201910-q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 91 Income Statement 28 Cash Flow Statement 56 Stockholders Equity 14 Comprehensive Income 8

Balance Sheet 91 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$10.83M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$8.12M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$10.55M	USD	Point-in-time
Cash and equivalents	`CashAndCashEquivalentsAtCarryingValue`	$96.78M	USD	Point-in-time
Cash and equivalents	`CashAndCashEquivalentsAtCarryingValue`	$88.23M	USD	Point-in-time
Cash and equivalents	`CashAndCashEquivalentsAtCarryingValue`	$102.94M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $10,826 at March 2019, $10,549 at December 2018 and $8,121 at March 2018	`AccountsReceivableNetCurrent`	$318.48M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $10,826 at March 2019, $10,549 at December 2018 and $8,121 at March 2018	`AccountsReceivableNetCurrent`	$252.97M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $10,826 at March 2019, $10,549 at December 2018 and $8,121 at March 2018	`AccountsReceivableNetCurrent`	$299.33M	USD	Point-in-time
Due from related parties, current	`DueFromRelatedPartiesCurrent`	$274.37M	USD	Point-in-time
Due from related parties, current	`DueFromRelatedPartiesCurrent`	$547.69M	USD	Point-in-time
Due from related parties, current	`DueFromRelatedPartiesCurrent`	$291.13M	USD	Point-in-time
Related party notes receivable	`NotesReceivableRelatedPartiesCurrent`	$546.74M	USD	Point-in-time
Related party notes receivable	`NotesReceivableRelatedPartiesCurrent`	$517.94M	USD	Point-in-time
Related party notes receivable	`NotesReceivableRelatedPartiesCurrent`	$517.94M	USD	Point-in-time
Inventories	`InventoryNet`	$519.01M	USD	Point-in-time
Inventories	`InventoryNet`	$473.81M	USD	Point-in-time
Inventories	`InventoryNet`	$499.85M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$50.67M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$51.78M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$52.01M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.78B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.78B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.94B	USD	Point-in-time
Due from related parties, noncurrent	`DueFromRelatedPartiesNoncurrent`	$611.00K	USD	Point-in-time
Due from related parties, noncurrent	`DueFromRelatedPartiesNoncurrent`	$1.58M	USD	Point-in-time
Due from related parties, noncurrent	`DueFromRelatedPartiesNoncurrent`	$370.00K	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$138.45M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$138.97M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$142.96M	USD	Point-in-time
Operating lease assets	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
Operating lease assets	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
Operating lease assets	`OperatingLeaseRightOfUseAsset`	$77.31M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$51.91M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$56.64M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$53.06M	USD	Point-in-time
Goodwill	`Goodwill`	$220.23M	USD	Point-in-time
Goodwill	`Goodwill`	$214.52M	USD	Point-in-time
Goodwill	`Goodwill`	$213.62M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$122.21M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$110.63M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$125.11M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$2.46B	USD	Point-in-time
TOTAL ASSETS	`Assets`	$2.39B	USD	Point-in-time
TOTAL ASSETS	`Assets`	$2.33B	USD	Point-in-time
Short-term borrowings	`ShortTermBorrowings`	$8.37M	USD	Point-in-time
Short-term borrowings	`ShortTermBorrowings`	$3.21M	USD	Point-in-time
Short-term borrowings	`ShortTermBorrowings`	$12.10M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$134.13M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$131.67M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$147.40M	USD	Point-in-time
Due to related parties, current	`DueToRelatedPartiesCurrent`	$60.42M	USD	Point-in-time
Due to related parties, current	`DueToRelatedPartiesCurrent`	$3.87M	USD	Point-in-time
Due to related parties, current	`DueToRelatedPartiesCurrent`	$16.14M	USD	Point-in-time
Related party notes payable	`NotesPayableRelatedPartiesClassifiedCurrent`	$269.11M	USD	Point-in-time
Related party notes payable	`NotesPayableRelatedPartiesClassifiedCurrent`	$241.87M	USD	Point-in-time
Related party notes payable	`NotesPayableRelatedPartiesClassifiedCurrent`	$269.11M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$171.50M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$206.52M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$194.23M	USD	Point-in-time
Operating lease liabilities, current	`OperatingLeaseLiabilityCurrent`	-	USD	Point-in-time
Operating lease liabilities, current	`OperatingLeaseLiabilityCurrent`	-	USD	Point-in-time
Operating lease liabilities, current	`OperatingLeaseLiabilityCurrent`	$29.16M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$616.82M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$637.18M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$644.81M	USD	Point-in-time
Operating lease liabilities, noncurrent	`OperatingLeaseLiabilityNoncurrent`	$51.53M	USD	Point-in-time
Operating lease liabilities, noncurrent	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Operating lease liabilities, noncurrent	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$117.72M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$118.19M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$117.38M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$762.18M	USD	Point-in-time
Total liabilities	`Liabilities`	$806.43M	USD	Point-in-time
Total liabilities	`Liabilities`	$735.01M	USD	Point-in-time
Parent company investment	`EquityParentCompanyInvestment`	$1.72B	USD	Point-in-time
Parent company investment	`EquityParentCompanyInvestment`	$1.87B	USD	Point-in-time
Parent company investment	`EquityParentCompanyInvestment`	$1.68B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-145.18M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-112.78M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-144.42M	USD	Point-in-time
Total equity	`StockholdersEquity`	$1.72B	USD	Point-in-time
Total equity	`StockholdersEquity`	$1.56B	USD	Point-in-time
Total equity	`StockholdersEquity`	$1.58B	USD	Point-in-time
Total equity	`StockholdersEquity`	$1.36B	USD	Point-in-time
TOTAL LIABILITIES AND EQUITY	`LiabilitiesAndStockholdersEquity`	$2.33B	USD	Point-in-time
TOTAL LIABILITIES AND EQUITY	`LiabilitiesAndStockholdersEquity`	$2.46B	USD	Point-in-time
TOTAL LIABILITIES AND EQUITY	`LiabilitiesAndStockholdersEquity`	$2.39B	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Net revenues (including sales to related parties of $10,611 and $13,479 for March 2019 and March 2018, respectively)	`RevenueFromContractWithCustomerExcludingAssessedTax`	$648.34M	USD	1 Quarter
Net revenues (including sales to related parties of $10,611 and $13,479 for March 2019 and March 2018, respectively)	`RevenueFromContractWithCustomerExcludingAssessedTax`	$669.66M	USD	1 Quarter
Cost of goods sold (including purchases from related parties of $256 and $827 for March 2019 and March 2018, respectively)	`CostOfGoodsAndServicesSold`	$382.42M	USD	1 Quarter
Cost of goods sold (including purchases from related parties of $256 and $827 for March 2019 and March 2018, respectively)	`CostOfGoodsAndServicesSold`	$401.02M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$222.12M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$194.83M	USD	1 Quarter
Total costs and operating expenses	`CostsAndExpenses`	$577.25M	USD	1 Quarter
Total costs and operating expenses	`CostsAndExpenses`	$623.15M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$92.41M	USD	1 Quarter
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$648.34M	USD	1 Quarter
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$669.66M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$25.20M	USD	1 Quarter
Related party interest income, net	`InterestIncomeRelatedParty`	$2.34M	USD	1 Quarter
Related party interest income, net	`InterestIncomeRelatedParty`	$1.65M	USD	1 Quarter
Other interest income, net	`InterestIncomeOther`	$1.32M	USD	1 Quarter
Other interest income, net	`InterestIncomeOther`	$917.00K	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-1.20M	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-971.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$27.89M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$93.78M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$12.47M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$14.08M	USD	1 Quarter
Net income	`NetIncomeLoss`	$79.70M	USD	1 Quarter
Net income	`NetIncomeLoss`	$15.41M	USD	1 Quarter
Basic (in USD per share)	`EarningsPerShareBasic`	$1.41	USD	1 Quarter
Basic (in USD per share)	`EarningsPerShareBasic`	$0.27	USD	1 Quarter
Diluted (in USD per share)	`EarningsPerShareDiluted`	$1.41	USD	1 Quarter
Diluted (in USD per share)	`EarningsPerShareDiluted`	$0.27	USD	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$79.70M	USD	1 Quarter
Net income	`NetIncomeLoss`	$15.41M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$8.31M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$7.70M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$7.68M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$3.74M	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-10.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$2.73M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$512.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$362.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$60.85M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$48.47M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$61.15M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$44.93M	USD	1 Quarter
Due from related parties	`IncreaseDecreaseInAccountsReceivableRelatedParties`	$54.33M	USD	1 Quarter
Due from related parties	`IncreaseDecreaseInAccountsReceivableRelatedParties`	$-256.80M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$12.94M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-43.61M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInIncomeTaxes`	$-5.57M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInIncomeTaxes`	$1.31M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$18.35M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$9.43M	USD	1 Quarter
Due to related parties	`IncreaseDecreaseInAccountsPayableRelatedParties`	$22.41M	USD	1 Quarter
Due to related parties	`IncreaseDecreaseInAccountsPayableRelatedParties`	$-12.27M	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$1.34M	USD	1 Quarter
Other assets and liabilities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$20.99M	USD	1 Quarter
Cash provided (used) by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$206.49M	USD	1 Quarter
Cash provided (used) by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-114.36M	USD	1 Quarter
Capital expenditures	`PaymentsForCapitalImprovements`	$5.30M	USD	1 Quarter
Capital expenditures	`PaymentsForCapitalImprovements`	$6.53M	USD	1 Quarter
Repayments received from related party notes receivable	`ProceedsFromCollectionOfLongtermLoansToRelatedParties`	-	USD	1 Quarter
Repayments received from related party notes receivable	`ProceedsFromCollectionOfLongtermLoansToRelatedParties`	$1.00M	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$20.00K	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-6.43M	USD	1 Quarter
Cash (used) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.32M	USD	1 Quarter
Cash (used) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$900.00K	USD	1 Quarter
Net increase in short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$7.57M	USD	1 Quarter
Net increase in short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$5.08M	USD	1 Quarter
Repayments of related party notes payable	`RepaymentsOfRelatedPartyDebt`	$27.25M	USD	1 Quarter
Repayments of related party notes payable	`RepaymentsOfRelatedPartyDebt`	-	USD	1 Quarter
Net transfers (to) from parent	`ProceedsPaymentContributionsfromtoParent`	$-173.49M	USD	1 Quarter
Net transfers (to) from parent	`ProceedsPaymentContributionsfromtoParent`	$109.70M	USD	1 Quarter
Cash (used) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$117.27M	USD	1 Quarter
Cash (used) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-195.65M	USD	1 Quarter
Effect of foreign currency rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.62M	USD	1 Quarter
Effect of foreign currency rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$651.00K	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$6.17M	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$7.42M	USD	1 Quarter
Cash, cash equivalents and restricted cash beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$102.94M	USD	Point-in-time
Cash, cash equivalents and restricted cash beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$88.23M	USD	Point-in-time
Cash, cash equivalents and restricted cash beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$96.78M	USD	Point-in-time
Cash, cash equivalents and restricted cash beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$80.81M	USD	Point-in-time
Cash, cash equivalents and restricted cash end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$102.94M	USD	Point-in-time
Cash, cash equivalents and restricted cash end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$88.23M	USD	Point-in-time
Cash, cash equivalents and restricted cash end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$96.78M	USD	Point-in-time
Cash, cash equivalents and restricted cash end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$80.81M	USD	Point-in-time

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance, beginning	`StockholdersEquity`	$1.72B	USD	Point-in-time
Balance, beginning	`StockholdersEquity`	$1.56B	USD	Point-in-time
Balance, beginning	`StockholdersEquity`	$1.58B	USD	Point-in-time
Balance, beginning	`StockholdersEquity`	$1.36B	USD	Point-in-time
Net income	`NetIncomeLoss`	$79.70M	USD	1 Quarter
Net income	`NetIncomeLoss`	$15.41M	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$758.00K	USD	1 Quarter
Foreign currency translation	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$9.70M	USD	1 Quarter
Net transfers from (to) parent	`TransfersToFromParentNet`	$-157.93M	USD	1 Quarter
Net transfers from (to) parent	`TransfersToFromParentNet`	$113.44M	USD	1 Quarter
Balance, ending	`StockholdersEquity`	$1.72B	USD	Point-in-time
Balance, ending	`StockholdersEquity`	$1.56B	USD	Point-in-time
Balance, ending	`StockholdersEquity`	$1.58B	USD	Point-in-time
Balance, ending	`StockholdersEquity`	$1.36B	USD	Point-in-time

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$79.70M	USD	1 Quarter
Net income	`NetIncomeLoss`	$15.41M	USD	1 Quarter
Foreign currency translation, net of related taxes	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$758.00K	USD	1 Quarter
Foreign currency translation, net of related taxes	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$9.70M	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$9.70M	USD	1 Quarter
Total other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$758.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$16.17M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$89.40M	USD	1 Quarter

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