$AEO
AMERICAN EAGLE OUTFITTERS INC

2020 Q4 Form 10-Q Financial Statement

#000156459020056094 Filed on December 03, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2019 Q4 2019 Q3
Revenue $1.032B $1.066B $1.041B
YoY Change -3.26% 6.25% 7.88%
Cost Of Revenue $616.8M $659.4M $658.3M
YoY Change -6.46% 9.14% 7.61%
Gross Profit $414.8M $407.1M $382.6M
YoY Change 1.9% 1.9% 8.35%
Gross Profit Margin 40.21% 38.17% 36.75%
Selling, General & Admin $273.3M $259.0M $253.1M
YoY Change 5.52% 4.27% 8.15%
% of Gross Profit 65.89% 63.63% 66.14%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $39.80M $45.60M $45.40M
YoY Change -12.72% -0.87% 5.09%
% of Gross Profit 9.59% 11.2% 11.87%
Operating Expenses $312.3M $303.9M $253.1M
YoY Change 2.76% 4.47% 8.15%
Operating Profit $95.55M $103.1M $81.92M
YoY Change -7.32% -5.05% 7.24%
Interest Expense -$7.900M $1.200M
YoY Change -758.33%
% of Operating Profit -8.27% 1.16%
Other Income/Expense, Net $2.200M $2.577M $3.990M
YoY Change -14.63% -40.07% 363.95%
Pretax Income $89.90M $105.7M $85.91M
YoY Change -14.93% -6.48% 11.21%
Income Tax $31.70M $24.92M $20.93M
% Of Pretax Income 35.26% 23.58% 24.36%
Net Earnings $58.11M $80.76M $64.98M
YoY Change -28.05% -5.51% 7.7%
Net Earnings / Revenue 5.63% 7.57% 6.24%
Basic Earnings Per Share $0.48 $0.38
Diluted Earnings Per Share $315.1K $0.48 $0.38
COMMON SHARES
Basic Shares Outstanding 166.2M 167.9M 170.8M
Diluted Shares Outstanding 184.4M 168.7M 171.8M

Balance Sheet

Concept 2020 Q4 2019 Q4 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $692.4M $264.5M $317.2M
YoY Change 161.78% -26.47% -12.69%
Cash & Equivalents $692.4M $214.5M $267.2M
Short-Term Investments $325.3M $129.9M $172.9M
Other Short-Term Assets $130.9M $54.40M $69.50M
YoY Change 140.63% -38.18% -25.67%
Inventory $560.0M $647.3M $534.8M
Prepaid Expenses
Receivables $124.6M $112.3M $98.60M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.508B $1.079B $1.020B
YoY Change 39.79% -4.0% 2.31%
LONG-TERM ASSETS
Property, Plant & Equipment $650.4M $764.4M $754.0M
YoY Change -14.91% 3.89% 2.96%
Goodwill $13.14M $14.89M $14.88M
YoY Change -11.79% -0.05% -0.34%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $45.90M $67.70M $49.43M
YoY Change -32.2% 7.12% -6.34%
Total Long-Term Assets $1.990B $2.374B $2.339B
YoY Change -16.15% 176.66% 174.0%
TOTAL ASSETS
Total Short-Term Assets $1.508B $1.079B $1.020B
Total Long-Term Assets $1.990B $2.374B $2.339B
Total Assets $3.498B $3.452B $3.359B
YoY Change 1.33% 74.23% 81.5%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $304.6M $366.7M $317.0M
YoY Change -16.93% 6.79% 19.96%
Accrued Expenses $503.9M $368.2M $368.6M
YoY Change 36.85% 110.64% 116.19%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change
Total Short-Term Liabilities $894.3M $810.2M $763.6M
YoY Change 10.38% 33.45% 50.32%
LONG-TERM LIABILITIES
Long-Term Debt $321.1M $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.215B $1.382B $28.30M
YoY Change -12.09% 1651.2% -65.55%
Total Long-Term Liabilities $1.536B $1.382B $1.367B
YoY Change 11.14% 1651.22% 1563.91%
TOTAL LIABILITIES
Total Short-Term Liabilities $894.3M $810.2M $763.6M
Total Long-Term Liabilities $1.536B $1.382B $1.367B
Total Liabilities $2.430B $2.192B $2.131B
YoY Change 10.86% 219.47% 261.01%
SHAREHOLDERS EQUITY
Retained Earnings $2.070B
YoY Change 6.62%
Common Stock $570.9M
YoY Change 1.43%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.376B
YoY Change 13.59%
Treasury Stock Shares $80.60M
Shareholders Equity $1.068B $1.260B $1.229B
YoY Change
Total Liabilities & Shareholders Equity $3.498B $3.452B $3.359B
YoY Change 1.33% 74.23% 81.5%

Cashflow Statement

Concept 2020 Q4 2019 Q4 2019 Q3
OPERATING ACTIVITIES
Net Income $58.11M $80.76M $64.98M
YoY Change -28.05% -5.51% 7.7%
Depreciation, Depletion And Amortization $39.80M $45.60M $45.40M
YoY Change -12.72% -0.87% 5.09%
Cash From Operating Activities $26.00M $60.60M $109.9M
YoY Change -57.1% -33.55% -11.66%
INVESTING ACTIVITIES
Capital Expenditures -$31.30M -$58.20M -$56.20M
YoY Change -46.22% 36.3% 2.93%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 -$5.000M
YoY Change -100.0% -75.0%
Cash From Investing Activities -$31.30M -$58.20M -$61.30M
YoY Change -46.22% -29.45% -17.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -200.3M -55.30M -86.20M
YoY Change 262.21% 12.4% 419.28%
NET CHANGE
Cash From Operating Activities 26.00M 60.60M 109.9M
Cash From Investing Activities -31.30M -58.20M -61.30M
Cash From Financing Activities -200.3M -55.30M -86.20M
Net Change In Cash -205.6M -52.90M -37.60M
YoY Change 288.66% 30.62% -213.25%
FREE CASH FLOW
Cash From Operating Activities $26.00M $60.60M $109.9M
Capital Expenditures -$31.30M -$58.20M -$56.20M
Free Cash Flow $57.30M $118.8M $166.1M
YoY Change -51.77% -11.28% -7.21%

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1066412000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2466819000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2993581000
aeo Property Plant And Equipment Weighted Average Useful Life
PropertyPlantAndEquipmentWeightedAverageUsefulLife
P7Y4M24D
CY2020Q4 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
51500000
CY2019Q4 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2020Q4 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2019Q4 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2019Q4 aeo Revenue Related To Gift Card Breakage
RevenueRelatedToGiftCardBreakage
1500000
aeo Revenue Related To Gift Card Breakage
RevenueRelatedToGiftCardBreakage
4900000
aeo Revenue Related To Gift Card Breakage
RevenueRelatedToGiftCardBreakage
5400000
us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
84100000
CY2019Q4 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
0
us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
0
CY2020Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
692356000
CY2020Q1 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
361930000
CY2019Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
214514000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2020Q4 aeo Impairment Restructuring And Corona Virus Disease Nineteen Related Charges
ImpairmentRestructuringAndCoronaVirusDiseaseNineteenRelatedCharges
6955000
CY2020Q1 us-gaap Short Term Investments
ShortTermInvestments
55000000
CY2019Q4 us-gaap Short Term Investments
ShortTermInvestments
50000000
CY2020Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
692356000
CY2020Q1 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
416930000
CY2019Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
264514000
CY2020Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
166185000
CY2019Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
167912000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
166385000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
170463000
CY2020Q4 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
16382000
CY2020Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1830000
CY2019Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
781000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1234000
CY2020Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
184397000
CY2019Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
168693000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
166385000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
171697000
CY2020Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1423000
CY2019Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1057000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9250000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
595000
CY2020Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1579308000
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1562354000
CY2019Q4 us-gaap Goodwill Gross
GoodwillGross
17374000
CY2020Q4 us-gaap Goodwill Gross
GoodwillGross
17331000
CY2019Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
2484000
CY2020Q4 us-gaap Long Term Debt
LongTermDebt
321081000
CY2020Q4 us-gaap Debt Instrument Convertible Carrying Amount Of The Equity Component
DebtInstrumentConvertibleCarryingAmountOfTheEquityComponent
68330000
CY2020Q1 us-gaap Goodwill
Goodwill
13157000
CY2020Q4 us-gaap Long Term Debt Weighted Average Interest Rate Over Time
LongTermDebtWeightedAverageInterestRateOverTime
0.0034
us-gaap Long Term Debt Weighted Average Interest Rate Over Time
LongTermDebtWeightedAverageInterestRateOverTime
0.0179
CY2020Q4 us-gaap Debt Instrument Periodic Payment Interest
DebtInstrumentPeriodicPaymentInterest
100000
us-gaap Debt Instrument Periodic Payment Interest
DebtInstrumentPeriodicPaymentInterest
2500000
CY2020Q4 us-gaap Share Based Compensation
ShareBasedCompensation
9000000.0
CY2020Q4 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
5700000
us-gaap Share Based Compensation
ShareBasedCompensation
24700000
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
17900000
CY2019Q4 us-gaap Share Based Compensation
ShareBasedCompensation
5600000
CY2019Q4 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
4300000
us-gaap Share Based Compensation
ShareBasedCompensation
19900000
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
15300000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2584000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
18.18
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1705000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
10.30
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
139000
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4150000
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
3100000
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1742000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2100000
aeo Employee Service Share Based Compensation Tax Benefit Expense Realized From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitExpenseRealizedFromExerciseOfStockOptions
100000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.022
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.024
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.382
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y4M24D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y4M24D
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
9000000.0
CY2020Q1 aeo Cares Act Of2020 Net Operating Loss Carryback Period
CARESActOf2020NetOperatingLossCarrybackPeriod
P5Y
CY2018 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2020Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.353
CY2019Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.236
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.268
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.234
CY2018 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
CY2020Q4 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit
300000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
153617000
CY2020Q4 aeo Incremental Corona Virus Disease Two Thousand And Nineteen Related Expenses
IncrementalCoronaVirusDiseaseTwoThousandAndNineteenRelatedExpenses
5951000
aeo Incremental Corona Virus Disease Two Thousand And Nineteen Related Expenses
IncrementalCoronaVirusDiseaseTwoThousandAndNineteenRelatedExpenses
19836000
CY2020Q4 us-gaap Restructuring Costs
RestructuringCosts
1004000
us-gaap Restructuring Costs
RestructuringCosts
3733000
us-gaap Restructuring Costs
RestructuringCosts
4272000
aeo Impairment Restructuring And Corona Virus Disease Nineteen Related Charges
ImpairmentRestructuringAndCoronaVirusDiseaseNineteenRelatedCharges
177186000
aeo Impairment Restructuring And Corona Virus Disease Nineteen Related Charges
ImpairmentRestructuringAndCoronaVirusDiseaseNineteenRelatedCharges
4272000
CY2020Q4 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
us-gaap Asset Impairment Charges
AssetImpairmentCharges
153600000
CY2020Q1 us-gaap Restructuring Reserve
RestructuringReserve
4187000
aeo Restructuring Charge Cash Charges
RestructuringChargeCashCharges
23568000
aeo Payments For Restructuring And Restructuring Reserve Accrual Adjustment
PaymentsForRestructuringAndRestructuringReserveAccrualAdjustment
23771000
CY2020Q4 us-gaap Restructuring Reserve
RestructuringReserve
3984000

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