$BGFV
BIG 5 SPORTING GOODS Corp

2015 Q2 Form 10-Q Financial Statement

#000156459016022292 Filed on August 03, 2016

View on sec.gov

Income Statement

Concept 2015 Q2
Revenue $240.4M
YoY Change 4.0%
Cost Of Revenue $163.1M
YoY Change 4.86%
Gross Profit $77.28M
YoY Change 2.25%
Gross Profit Margin 32.14%
Selling, General & Admin $72.65M
YoY Change 2.12%
% of Gross Profit 94.02%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.500M
YoY Change 3.77%
% of Gross Profit 7.12%
Operating Expenses $72.65M
YoY Change 2.12%
Operating Profit $4.623M
YoY Change 4.43%
Interest Expense $412.0K
YoY Change 11.05%
% of Operating Profit 8.91%
Other Income/Expense, Net
YoY Change
Pretax Income $4.211M
YoY Change 3.82%
Income Tax $1.633M
% Of Pretax Income 38.78%
Net Earnings $2.578M
YoY Change 1.7%
Net Earnings / Revenue 1.07%
Basic Earnings Per Share $0.12
Diluted Earnings Per Share $0.12
COMMON SHARES
Basic Shares Outstanding 21.84M shares
Diluted Shares Outstanding 21.97M shares

Balance Sheet

Concept 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.800M
YoY Change 9.68%
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets $16.00M
YoY Change -30.74%
Inventory $336.6M
Prepaid Expenses $5.910M
Receivables $11.80M
Other Receivables $0.00
Total Short-Term Assets $371.2M
YoY Change 1.64%
LONG-TERM ASSETS
Property, Plant & Equipment $81.68M
YoY Change 12.74%
Goodwill $4.433M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.306M
YoY Change -38.24%
Total Long-Term Assets $102.8M
YoY Change 7.84%
TOTAL ASSETS
Total Short-Term Assets $371.2M
Total Long-Term Assets $102.8M
Total Assets $474.0M
YoY Change 2.92%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $116.2M
YoY Change 1.55%
Accrued Expenses $58.72M
YoY Change 5.43%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $1.600M
YoY Change 14.29%
Total Short-Term Liabilities $176.5M
YoY Change 2.93%
LONG-TERM LIABILITIES
Long-Term Debt $73.40M
YoY Change 5.46%
Other Long-Term Liabilities $8.597M
YoY Change -13.71%
Total Long-Term Liabilities $8.597M
YoY Change -13.71%
TOTAL LIABILITIES
Total Short-Term Liabilities $176.5M
Total Long-Term Liabilities $8.597M
Total Liabilities $279.3M
YoY Change 3.07%
SHAREHOLDERS EQUITY
Retained Earnings $113.0M
YoY Change 5.9%
Common Stock $111.4M
YoY Change 1.24%
Preferred Stock
YoY Change
Treasury Stock (at cost) $29.66M
YoY Change 9.28%
Treasury Stock Shares 2.361M shares
Shareholders Equity $194.7M
YoY Change
Total Liabilities & Shareholders Equity $474.0M
YoY Change 2.92%

Cashflow Statement

Concept 2015 Q2
OPERATING ACTIVITIES
Net Income $2.578M
YoY Change 1.7%
Depreciation, Depletion And Amortization $5.500M
YoY Change 3.77%
Cash From Operating Activities -$11.00M
YoY Change 96.43%
INVESTING ACTIVITIES
Capital Expenditures -$5.900M
YoY Change 18.0%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$5.900M
YoY Change 20.41%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 17.30M
YoY Change 60.19%
NET CHANGE
Cash From Operating Activities -11.00M
Cash From Investing Activities -5.900M
Cash From Financing Activities 17.30M
Net Change In Cash 400.0K
YoY Change 33.33%
FREE CASH FLOW
Cash From Operating Activities -$11.00M
Capital Expenditures -$5.900M
Free Cash Flow -$5.100M
YoY Change 750.0%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
195004000
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
49000
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
685000
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
1193000
CY2015Q2 us-gaap Stockholders Equity
StockholdersEquity
194732000
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
7000
us-gaap Adjustment To Additional Paid In Capital Income Tax Effect From Share Based Compensation Net
AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet
-222000
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
613000
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
37000
us-gaap Share Based Compensation
ShareBasedCompensation
1263000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
9322000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
7000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1438000
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
726000
us-gaap Income Taxes Paid
IncomeTaxesPaid
555000
CY2016Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
94000
CY2015Q2 us-gaap Fair Value Assumptions Risk Free Interest Rate
FairValueAssumptionsRiskFreeInterestRate
0.019
us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
52000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
88000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
1851000
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
-866000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
5089000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2050000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
18500000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-9302000
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
16402000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
6813000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-6813000
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
107252000
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
104711000
us-gaap Increase Decrease In Book Overdrafts
IncreaseDecreaseInBookOverdrafts
-4252000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
37000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
613000
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
5535000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-8563000
us-gaap Cash Period Increase Decrease
CashPeriodIncreaseDecrease
1026000
CY2014Q4 us-gaap Cash
Cash
11503000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
3450000
us-gaap Interest Paid
InterestPaid
730000
us-gaap Income Taxes Paid
IncomeTaxesPaid
514000
us-gaap Fiscal Period
FiscalPeriod
<div> <p style="text-align:justify;margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Reporting Period</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:6.67%;">The Company follows the concept of a 52-53 week fiscal year, which ends on the Sunday nearest December 31. Fiscal year 2016 is comprised of 52 weeks and ends on January 1, 2017. Fiscal year 2015 was comprised of 53 weeks and ended on January 3, 2016. The four quarters of fiscal 2016 are each comprised of 13 weeks. The first three quarters in fiscal 2015 were each comprised of 13 weeks, and the fourth quarter of fiscal 2015 was comprised of 14 weeks. </p></div>
us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="text-align:justify;margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:6.67%;">Management has made a number of estimates and assumptions relating to the reporting of assets, liabilities and stockholders&#8217; equity and the disclosure of contingent assets and liabilities as of the date of the Interim Financial Statements and reported amounts of revenue and expense during the reporting period to prepare these Interim Financial Statements in conformity with GAAP. Certain items subject to such estimates and assumptions include the carrying amount of merchandise inventories, property and equipment, and goodwill; valuation allowances for receivables, sales returns and deferred income tax assets; estimates related to gift card breakage and the valuation of share-based compensation awards; and obligations related to asset retirements, litigation, self-insurance liabilities and employee benefits. Actual results could differ significantly from these estimates under different assumptions and conditions.</p></div>
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
52000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2016Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
21403000
CY2016Q3 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
7383000
us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
2960000
us-gaap Interest Paid
InterestPaid
833000
CY2016Q3 us-gaap Number Of Stores
NumberOfStores
435
CY2016Q3 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
11000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
bgfv Financial Information Reporting Period Minimum
FinancialInformationReportingPeriodMinimum
P364D
bgfv Financial Information Reporting Period Maximum
FinancialInformationReportingPeriodMaximum
P371D
bgfv Estimated Gift Card Redemption Period
EstimatedGiftCardRedemptionPeriod
20 quarters
CY2016Q3 us-gaap Revenue Recognition Gift Cards Breakage
RevenueRecognitionGiftCardsBreakage
112000
us-gaap Revenue Recognition Gift Cards Breakage
RevenueRecognitionGiftCardsBreakage
225000
CY2015Q2 us-gaap Revenue Recognition Gift Cards Breakage
RevenueRecognitionGiftCardsBreakage
112000
us-gaap Revenue Recognition Gift Cards Breakage
RevenueRecognitionGiftCardsBreakage
223000
CY2016Q3 us-gaap Accrued Liabilities For Unredeeemed Gift Cards
AccruedLiabilitiesForUnredeeemedGiftCards
4100000
CY2016Q1 us-gaap Accrued Liabilities For Unredeeemed Gift Cards
AccruedLiabilitiesForUnredeeemedGiftCards
4900000
CY2016Q3 us-gaap Noncurrent Assets
NoncurrentAssets
500000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2016Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
24090000
CY2016Q3 bgfv Accrued Occupancy Costs Current
AccruedOccupancyCostsCurrent
10141000
CY2016Q1 bgfv Accrued Occupancy Costs Current
AccruedOccupancyCostsCurrent
10693000
CY2016Q1 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
11307000
CY2016Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
21062000
CY2016Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
23434000
us-gaap Line Of Credit Facility Description
LineOfCreditFacilityDescription
On October 18, 2010, the Company entered into a credit agreement with Wells Fargo Bank, National Association (“Wells Fargo”), as administrative agent, and a syndicate of other lenders, which was amended on October 31, 2011 and December 19, 2013 (as so amended, the “Credit Agreement”). The maturity date of the Credit Agreement is December 19, 2018.
us-gaap Line Of Credit Facility Expiration Date1
LineOfCreditFacilityExpirationDate1
2018-12-19
CY2016Q3 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
140000000
CY2016Q3 bgfv Line Of Credit Facility Increase Borrowing Capacity
LineOfCreditFacilityIncreaseBorrowingCapacity
165000000
CY2016Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
200000000
CY2016Q3 bgfv Sublimit For Issuances Of Letters Of Credit
SublimitForIssuancesOfLettersOfCredit
50000000
CY2016Q3 bgfv Sublimit For Swingline Loans
SublimitForSwinglineLoans
20000000
CY2016Q3 bgfv Percentage Of Eligible Credit Card Accounts Receivable
PercentageOfEligibleCreditCardAccountsReceivable
0.9000
bgfv Percentage Of Net Orderly Liquidation Value Of Eligible Inventory
PercentageOfNetOrderlyLiquidationValueOfEligibleInventory
0.9000
bgfv Percentage Of Net Orderly Liquidation Value Of Eligible In Transit Inventory
PercentageOfNetOrderlyLiquidationValueOfEligibleInTransitInventory
0.9000
CY2016Q3 bgfv Eligible In Transit Inventory Threshold
EligibleInTransitInventoryThreshold
10000000
us-gaap Debt Instrument Covenant Description
DebtInstrumentCovenantDescription
Obligations under the Credit Facility are secured by a general lien and perfected security interest in substantially all of the Company’s assets. The Credit Agreement contains covenants that require the Company to maintain a fixed charge coverage ratio of not less than 1.0:1.0 in certain circumstances, and limit the ability
us-gaap Default Longterm Debt Description Of Violation Or Event Of Default
DefaultLongtermDebtDescriptionOfViolationOrEventOfDefault
The Credit Agreement contains customary events of default, including, without limitation, failure to pay when due principal amounts with respect to the Credit Facility, failure to pay any interest or other amounts under the Credit Facility for five days after becoming due, failure to comply with certain agreements or covenants contained in the Credit Agreement, failure to satisfy certain judgments against the Company, failure to pay when due (or any other default which does or may lead to the acceleration of) certain other material indebtedness in principal amount in excess of $5.0 million, and certain insolvency and bankruptcy events.
CY2016Q3 bgfv Line Of Credit Facility Debt Default Minimum Amount
LineOfCreditFacilityDebtDefaultMinimumAmount
5000000
CY2016Q3 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
500000
CY2016Q1 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
500000
CY2016Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
0
CY2016Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
0
CY2016Q3 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
0
CY2016Q1 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
0
bgfv Unrecognized Tax Benefits Period That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsPeriodThatWouldImpactEffectiveTaxRate
Over the next 12 months
CY2016Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2016Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2016Q3 us-gaap Deferred Tax Expense From Stock Options Exercised
DeferredTaxExpenseFromStockOptionsExercised
200000
us-gaap Deferred Tax Expense From Stock Options Exercised
DeferredTaxExpenseFromStockOptionsExercised
800000
CY2016Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
600000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1300000
us-gaap Fair Value Assumptions Risk Free Interest Rate
FairValueAssumptionsRiskFreeInterestRate
0.019
CY2015Q2 us-gaap Fair Value Assumptions Expected Term
FairValueAssumptionsExpectedTerm
P5Y9M18D
us-gaap Fair Value Assumptions Expected Term
FairValueAssumptionsExpectedTerm
P5Y9M18D
CY2015Q2 us-gaap Fair Value Assumptions Expected Volatility Rate
FairValueAssumptionsExpectedVolatilityRate
0.570
us-gaap Fair Value Assumptions Expected Volatility Rate
FairValueAssumptionsExpectedVolatilityRate
0.570
CY2015Q2 us-gaap Fair Value Assumptions Expected Dividend Rate
FairValueAssumptionsExpectedDividendRate
0.027
us-gaap Fair Value Assumptions Expected Dividend Rate
FairValueAssumptionsExpectedDividendRate
0.027
us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
53682
us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2016-09-15
us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2016-09-01

Files In Submission

Name View Source Status
0001564590-16-022292-index-headers.html Edgar Link pending
0001564590-16-022292-index.html Edgar Link pending
0001564590-16-022292.txt Edgar Link pending
0001564590-16-022292-xbrl.zip Edgar Link pending
bgfv-10q_20160703.htm Edgar Link pending
bgfv-20160703.xml Edgar Link completed
bgfv-20160703.xsd Edgar Link pending
bgfv-20160703_cal.xml Edgar Link unprocessable
bgfv-20160703_def.xml Edgar Link unprocessable
bgfv-20160703_lab.xml Edgar Link unprocessable
bgfv-20160703_pre.xml Edgar Link unprocessable
bgfv-ex151_85.htm Edgar Link pending
bgfv-ex311_81.htm Edgar Link pending
bgfv-ex312_84.htm Edgar Link pending
bgfv-ex321_83.htm Edgar Link pending
bgfv-ex322_82.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending