2017 Q2 Form 10-K Financial Statement

#000163411717000075 Filed on July 12, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2 2016 Q1
Revenue $342.8M $294.8M $518.4M
YoY Change 16.31% 7.58% -0.6%
Cost Of Revenue $218.6M $187.4M $397.8M
YoY Change 16.65% 8.39% -0.54%
Gross Profit $123.0M $106.0M $120.6M
YoY Change 16.01% 4.86% -0.81%
Gross Profit Margin 35.89% 35.98% 23.27%
Selling, General & Admin $98.60M $87.00M $96.45M
YoY Change 13.33% -1.14% 1.86%
% of Gross Profit 80.15% 82.04% 79.95%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $14.20M $13.30M $13.10M
YoY Change 6.77% 3.1% 4.8%
% of Gross Profit 11.54% 12.54% 10.86%
Operating Expenses $112.9M $100.4M $96.45M
YoY Change 12.45% -0.4% 1.86%
Operating Profit $10.13M $5.644M -$2.438M
YoY Change 79.39% 1610.3% -117.0%
Interest Expense -$1.500M -$600.0K -$700.0K
YoY Change 150.0% 200.0%
% of Operating Profit -14.81% -10.63%
Other Income/Expense, Net
YoY Change
Pretax Income $2.900M -$4.800M -$3.149M
YoY Change -160.42% -4900.0% -122.0%
Income Tax $2.600M -$2.000M $454.0K
% Of Pretax Income 89.66%
Net Earnings $227.0K -$2.796M -$3.603M
YoY Change -108.12% 992.19% -141.65%
Net Earnings / Revenue 0.07% -0.95% -0.69%
Basic Earnings Per Share $0.00 -$0.06 -$0.07
Diluted Earnings Per Share $0.00 -$0.06 -$0.07
COMMON SHARES
Basic Shares Outstanding 46.52M shares 46.31M shares 48.09M shares
Diluted Shares Outstanding 48.09M shares

Balance Sheet

Concept 2017 Q2 2016 Q2 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $19.00M $28.60M $108.2M
YoY Change -33.57% -36.16% -38.03%
Cash & Equivalents $19.00M $28.57M $108.2M
Short-Term Investments
Other Short-Term Assets $10.70M $6.500M $5.800M
YoY Change 64.62% 41.3% -80.86%
Inventory $434.1M $312.7M $542.5M
Prepaid Expenses
Receivables $58.50M $35.60M $183.1M
Other Receivables $27.50M $15.30M $0.00
Total Short-Term Assets $602.6M $446.5M $905.3M
YoY Change 34.98% -5.21% -2.15%
LONG-TERM ASSETS
Property, Plant & Equipment $116.6M $111.2M $113.5M
YoY Change 4.88% 3.37% 8.37%
Goodwill $329.5M $280.9M $274.1M
YoY Change 17.29% 2.5% 0.0%
Intangibles $209.9M $199.7M $190.5M
YoY Change 5.12% 0.74% -5.08%
Long-Term Investments
YoY Change
Other Assets $41.24M $33.47M $33.64M
YoY Change 23.2% -16.08% -2.64%
Total Long-Term Assets $697.2M $625.2M $611.8M
YoY Change 11.51% 0.89% -0.38%
TOTAL ASSETS
Total Short-Term Assets $602.6M $446.5M $905.3M
Total Long-Term Assets $697.2M $625.2M $611.8M
Total Assets $1.300B $1.072B $1.517B
YoY Change 21.29% -1.74% -1.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $192.7M $152.2M $489.0M
YoY Change 26.66% -1.95% -0.65%
Accrued Expenses $120.5M $105.9M $199.7M
YoY Change 13.79% 8.51% 4.64%
Deferred Revenue
YoY Change
Short-Term Debt $100.0M $0.00 $0.00
YoY Change
Long-Term Debt Due $100.0M
YoY Change
Total Short-Term Liabilities $413.2M $258.1M $688.6M
YoY Change 60.13% 2.09% 0.83%
LONG-TERM LIABILITIES
Long-Term Debt $59.60M $0.00 $0.00
YoY Change
Other Long-Term Liabilities $96.43M $75.38M $69.94M
YoY Change 27.93% 8.48% 11.6%
Total Long-Term Liabilities $96.43M $75.38M $69.94M
YoY Change 27.93% 8.48% 11.6%
TOTAL LIABILITIES
Total Short-Term Liabilities $413.2M $258.1M $688.6M
Total Long-Term Liabilities $96.43M $75.38M $69.94M
Total Liabilities $586.1M $363.3M $798.4M
YoY Change 61.33% -0.19% -2.29%
SHAREHOLDERS EQUITY
Retained Earnings $32.36M $27.00M
YoY Change 19.85%
Common Stock $709.4M $700.0M $698.1M
YoY Change 1.34%
Preferred Stock
YoY Change
Treasury Stock (at cost) $28.02M $18.62M $9.297M
YoY Change 50.52%
Treasury Stock Shares 2.855M shares 1.890M shares 948.0K shares
Shareholders Equity $713.7M $708.4M $718.6M
YoY Change
Total Liabilities & Shareholders Equity $1.300B $1.072B $1.517B
YoY Change 21.29% -1.74% -1.45%

Cashflow Statement

Concept 2017 Q2 2016 Q2 2016 Q1
OPERATING ACTIVITIES
Net Income $227.0K -$2.796M -$3.603M
YoY Change -108.12% 992.19% -141.65%
Depreciation, Depletion And Amortization $14.20M $13.30M $13.10M
YoY Change 6.77% 3.1% 4.8%
Cash From Operating Activities -$77.00M -$39.00M $40.60M
YoY Change 97.44% -62.06% -160.51%
INVESTING ACTIVITIES
Capital Expenditures -$8.200M -$13.10M -$13.20M
YoY Change -37.4% -2.24% 25.71%
Acquisitions
YoY Change
Other Investing Activities -$182.6M -$15.90M $1.300M
YoY Change 1048.43% 200.0% -13.33%
Cash From Investing Activities -$190.7M -$28.90M -$11.80M
YoY Change 559.86% 54.55% 31.11%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 155.2M -9.300M -9.300M
YoY Change -1768.82% -338.46% 304.35%
NET CHANGE
Cash From Operating Activities -77.00M -39.00M 40.60M
Cash From Investing Activities -190.7M -28.90M -11.80M
Cash From Financing Activities 155.2M -9.300M -9.300M
Net Change In Cash -112.5M -77.20M 19.50M
YoY Change 45.73% -34.35% -124.87%
FREE CASH FLOW
Cash From Operating Activities -$77.00M -$39.00M $40.60M
Capital Expenditures -$8.200M -$13.10M -$13.20M
Free Cash Flow -$68.80M -$25.90M $53.80M
YoY Change 165.64% -71.03% -195.05%

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CY2016Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Self Insurance
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsSelfInsurance
1050000 USD
CY2017Q2 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Self Insurance
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsSelfInsurance
881000 USD
CY2016Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1394000 USD
CY2017Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1392000 USD
CY2016Q2 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssets
71982000 USD
CY2017Q2 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssets
68938000 USD
CY2016Q2 us-gaap Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
29865000 USD
CY2017Q2 us-gaap Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
16871000 USD
CY2015 us-gaap Depreciation
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40257000 USD
CY2016 us-gaap Depreciation
Depreciation
42213000 USD
CY2017 us-gaap Depreciation
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41224000 USD
CY2015 us-gaap Depreciation And Amortization
DepreciationAndAmortization
50509000 USD
CY2016 us-gaap Depreciation And Amortization
DepreciationAndAmortization
52690000 USD
CY2017 us-gaap Depreciation And Amortization
DepreciationAndAmortization
53318000 USD
CY2015 us-gaap Dividends Preferred Stock Stock
DividendsPreferredStockStock
6076000 USD
CY2016 us-gaap Dividends Preferred Stock Stock
DividendsPreferredStockStock
0 USD
CY2017 us-gaap Dividends Preferred Stock Stock
DividendsPreferredStockStock
0 USD
CY2015 us-gaap Earnings Per Share Basic
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0.33
CY2015Q3 us-gaap Earnings Per Share Basic
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-0.65
CY2015Q4 us-gaap Earnings Per Share Basic
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0.69
CY2016Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.07
CY2016Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.06
CY2016 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.00
CY2016Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.60
CY2016Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.63
CY2017Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.08
CY2017Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.00
CY2017 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.12
CY2015 us-gaap Earnings Per Share Diluted
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0.33
CY2015Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.65
CY2015Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.69
CY2016Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.07
CY2016Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.06
CY2016 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.00
CY2016Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.60
CY2016Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.63
CY2017Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.08
CY2017Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.00
CY2017 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.11
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
2751000 USD
CY2015 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.426
CY2016 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.969
CY2017 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.469
CY2015 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350
CY2016 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350
CY2015 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.000
CY2016 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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0.506
CY2017 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.000
CY2015 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
0.000
CY2016 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
0.008
CY2017 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
-0.023
CY2015 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.047
CY2016 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.152
CY2017 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.058
CY2015 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies Other
EffectiveIncomeTaxRateReconciliationTaxContingenciesOther
0.031
CY2016 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies Other
EffectiveIncomeTaxRateReconciliationTaxContingenciesOther
0.311
CY2017 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies Other
EffectiveIncomeTaxRateReconciliationTaxContingenciesOther
0.255
CY2015 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
0.002
CY2016 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
0.054
CY2017 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
0.055
CY2017Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
14933000 USD
CY2017 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y
CY2016Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
67592000 USD
CY2017Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
79687000 USD
CY2017Q2 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
141809000 USD
CY2017Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
14005000 USD
CY2017Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
12949000 USD
CY2017Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
13265000 USD
CY2017Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
13859000 USD
CY2017Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
13998000 USD
CY2016Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
267255000 USD
CY2017Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
289572000 USD
CY2015Q2 us-gaap Goodwill
Goodwill
274070000 USD
CY2016Q2 us-gaap Goodwill
Goodwill
280911000 USD
CY2017Q2 us-gaap Goodwill
Goodwill
329467000 USD
CY2016 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
6841000 USD
CY2017 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
48556000 USD
CY2015 us-gaap Gross Profit
GrossProfit
443573000 USD
CY2015Q3 us-gaap Gross Profit
GrossProfit
51544000 USD
CY2015Q4 us-gaap Gross Profit
GrossProfit
175121000 USD
CY2016Q1 us-gaap Gross Profit
GrossProfit
120640000 USD
CY2016Q2 us-gaap Gross Profit
GrossProfit
106044000 USD
CY2016 us-gaap Gross Profit
GrossProfit
453349000 USD
CY2016Q3 us-gaap Gross Profit
GrossProfit
47413000 USD
CY2016Q4 us-gaap Gross Profit
GrossProfit
171514000 USD
CY2017Q1 us-gaap Gross Profit
GrossProfit
115925000 USD
CY2017Q2 us-gaap Gross Profit
GrossProfit
122511000 USD
CY2017Q2 us-gaap Liabilities And Stockholders Equity
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1299832000 USD
CY2016Q2 us-gaap Liabilities Current
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258052000 USD
CY2017 us-gaap Gross Profit
GrossProfit
457363000 USD
CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
33350000 USD
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
10091000 USD
CY2015 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
14218000 USD
CY2016 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2667000 USD
CY2017 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4730000 USD
CY2015 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
25171000 USD
CY2016 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
13934000 USD
CY2017 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1473000 USD
CY2015 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
6959000 USD
CY2016 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
9147000 USD
CY2017 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
3328000 USD
CY2015 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
11332000 USD
CY2016 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
11868000 USD
CY2017 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
11961000 USD
CY2015 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
22078000 USD
CY2016 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
15323000 USD
CY2017 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-6197000 USD
CY2015 us-gaap Increase Decrease In Other Current Assets And Liabilities Net
IncreaseDecreaseInOtherCurrentAssetsAndLiabilitiesNet
53660000 USD
CY2016 us-gaap Increase Decrease In Other Current Assets And Liabilities Net
IncreaseDecreaseInOtherCurrentAssetsAndLiabilitiesNet
-17140000 USD
CY2017 us-gaap Increase Decrease In Other Current Assets And Liabilities Net
IncreaseDecreaseInOtherCurrentAssetsAndLiabilitiesNet
3125000 USD
CY2015 us-gaap Increase Decrease In Other Noncurrent Assets And Liabilities Net
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-8335000 USD
CY2016 us-gaap Increase Decrease In Other Noncurrent Assets And Liabilities Net
IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet
-5892000 USD
CY2017 us-gaap Increase Decrease In Other Noncurrent Assets And Liabilities Net
IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet
-14235000 USD
CY2015 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
504000 USD
CY2016 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2206000 USD
CY2017 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2093000 USD
CY2015 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
37550000 USD
CY2016 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
-25732000 USD
CY2017 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
6407000 USD
CY2016Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
199663000 USD
CY2017Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
209885000 USD
CY2015 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-210000 USD
CY2016 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-1872000 USD
CY2017 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-3464000 USD
CY2015 us-gaap Interest Paid
InterestPaid
210000 USD
CY2016 us-gaap Interest Paid
InterestPaid
1145000 USD
CY2017 us-gaap Interest Paid
InterestPaid
2082000 USD
CY2017 us-gaap Inventory Lifo Reserve Effect On Income Net
InventoryLIFOReserveEffectOnIncomeNet
77141000 USD
CY2016Q2 us-gaap Inventory Net
InventoryNet
312747000 USD
CY2017Q2 us-gaap Inventory Net
InventoryNet
434064000 USD
CY2016Q2 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
0 USD
CY2016Q2 us-gaap Letters Of Credit Outstanding Amount
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3567000 USD
CY2017Q2 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
4298000 USD
CY2016Q2 us-gaap Liabilities
Liabilities
363297000 USD
CY2017Q2 us-gaap Liabilities
Liabilities
586124000 USD
CY2016Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1071683000 USD
CY2017Q2 us-gaap Liabilities Current
LiabilitiesCurrent
413220000 USD
CY2017Q2 us-gaap Loans Payable To Bank
LoansPayableToBank
159600000 USD
CY2016Q2 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
0 USD
CY2017Q2 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
59600000 USD
CY2015 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
8614000 USD
CY2016 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
8193000 USD
CY2017 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
7437000 USD
CY2015 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-46841000 USD
CY2016 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-28289000 USD
CY2017 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
147283000 USD
CY2015 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-58185000 USD
CY2016 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-68744000 USD
CY2017 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-224438000 USD
CY2015 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
17725000 USD
CY2016 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
83083000 USD
CY2017 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
67986000 USD
us-gaap Net Income Loss
NetIncomeLoss
27002000 USD
CY2015 us-gaap Net Income Loss
NetIncomeLoss
19132000 USD
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
-26918000 USD
CY2015Q4 us-gaap Net Income Loss
NetIncomeLoss
33401000 USD
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
-3603000 USD
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
-2796000 USD
CY2016 us-gaap Net Income Loss
NetIncomeLoss
84000 USD
CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
-27916000 USD
CY2016Q4 us-gaap Net Income Loss
NetIncomeLoss
29289000 USD
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
3761000 USD
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
227000 USD
CY2017 us-gaap Net Income Loss
NetIncomeLoss
5361000 USD
CY2015 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
12743000 USD
CY2016 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
84000 USD
CY2017 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
5358000 USD
CY2015 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
12743000 USD
CY2016 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
84000 USD
CY2017 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
5358000 USD
CY2017 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2017Q2 us-gaap Number Of Stores
NumberOfStores
1481 Store
CY2015 us-gaap Operating Income Loss
OperatingIncomeLoss
33560000 USD
CY2016 us-gaap Operating Income Loss
OperatingIncomeLoss
4623000 USD
CY2017 us-gaap Operating Income Loss
OperatingIncomeLoss
13555000 USD
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
826188 USD
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
104486 USD
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
116153 USD
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
123811 USD
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
133514 USD
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
207807 USD
CY2017Q2 us-gaap Operating Leases Future Minimum Payments Receivable Current
OperatingLeasesFutureMinimumPaymentsReceivableCurrent
140417 USD
CY2015 us-gaap Operating Leases Rent Expense Contingent Rentals
OperatingLeasesRentExpenseContingentRentals
106011 USD
CY2016 us-gaap Operating Leases Rent Expense Contingent Rentals
OperatingLeasesRentExpenseContingentRentals
101552 USD
CY2015 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
0 USD
CY2017 us-gaap Operating Leases Rent Expense Contingent Rentals
OperatingLeasesRentExpenseContingentRentals
87843 USD
CY2015 us-gaap Operating Leases Rent Expense Minimum Rentals
OperatingLeasesRentExpenseMinimumRentals
125388 USD
CY2016 us-gaap Operating Leases Rent Expense Minimum Rentals
OperatingLeasesRentExpenseMinimumRentals
140743 USD
CY2017 us-gaap Operating Leases Rent Expense Minimum Rentals
OperatingLeasesRentExpenseMinimumRentals
165980 USD
CY2015 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
231399 USD
CY2016 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
242295 USD
CY2017 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
253823 USD
CY2016Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
33472000 USD
CY2017Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
41236000 USD
CY2016Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
75380000 USD
CY2017Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
96433000 USD
CY2015 us-gaap Other Nonrecurring Expense
OtherNonrecurringExpense
0 USD
CY2016 us-gaap Other Nonrecurring Expense
OtherNonrecurringExpense
11987000 USD
CY2017 us-gaap Other Nonrecurring Expense
OtherNonrecurringExpense
0 USD
CY2015 us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
9733000 USD
CY2016 us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
111000 USD
CY2017 us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
3048000 USD
CY2015 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
CY2016 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
18615000 USD
CY2017 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
9405000 USD
CY2015 us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
76175000 USD
CY2016 us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
0 USD
CY2017 us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
0 USD
CY2015 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
CY2016 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
3251000 USD
CY2017 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
2912000 USD
CY2015 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
CY2016 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
17843000 USD
CY2017 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
186720000 USD
CY2015 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
48452000 USD
CY2016 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
50790000 USD
CY2017 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
34670000 USD
CY2016Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2017Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2016Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2017Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2017Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2016Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2017Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
6453000 USD
CY2017Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
10698000 USD
CY2016 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
60600000 USD
CY2017 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
312700000 USD
CY2017Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
116613000 USD
CY2016Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
514979000 USD
CY2017Q2 us-gaap Property Plant And Equipment Gross
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CY2017 us-gaap Basis Of Accounting
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Basis of Presentation</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our consolidated financial statements reflect our consolidated financial position, results of operations and cash flows in conformity with accounting principles generally accepted in the United States (&#8220;GAAP&#8221;). In the opinion of the Company&#8217;s management, the accompanying consolidated financial statements of the Company contain all adjustments (consisting of only normal recurring adjustments) necessary to present fairly its consolidated financial position and the results of its operations and cash flows for the periods reported. </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our fiscal year is comprised of 52 or 53 weeks, ending on the Saturday closest to the last day of April. The fiscal year periods for each of the last three fiscal years consisted of the 52 weeks ended </font><font style="font-family:inherit;font-size:10pt;">April&#160;29, 2017</font><font style="font-family:inherit;font-size:10pt;"> (Fiscal 2017), 52 weeks ended </font><font style="font-family:inherit;font-size:10pt;">April&#160;30, 2016</font><font style="font-family:inherit;font-size:10pt;"> (Fiscal 2016), and 52 weeks ended </font><font style="font-family:inherit;font-size:10pt;">May&#160;2, 2015</font><font style="font-family:inherit;font-size:10pt;"> (Fiscal 2015).</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our retail business (BNC and MBS Direct) is seasonal, with sales generally highest in the second and third fiscal quarters, when college students generally purchase textbooks for the upcoming semesters, and lowest in the first and fourth fiscal quarters.&#160;Sales attributable to the MBS wholesale business are generally highest in our first, second and third quarter as it sells textbooks for retail distribution, which somewhat offsets the decreased first quarter sales attributable to our retail business. MBS has significantly lower operating profit or operating loss realized during the fourth quarter (generally February through April).</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;padding-left:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Stand-alone basis financial statements (Prior to the Spin-Off)</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On August 2, 2015, we completed the legal separation ("Spin-Off") from Barnes &amp; Noble, Inc., at which time we began to operate as an independent publicly-traded company. </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">For the first quarter of Fiscal 2016 and Fiscal 2015 (periods presented prior to the Spin-Off), (collectively referred to as the "stand-alone periods"), our consolidated financial statements are presented on a stand-alone basis since we were still part of Barnes &amp; Noble, Inc. Our consolidated financial statements were derived from the consolidated financial statements and accounting records of Barnes&#160;&amp; Noble, Inc.. Our consolidated financial statements include certain assets and liabilities that have historically been held at the Barnes&#160;&amp; Noble, Inc. corporate level but are specifically identifiable or otherwise attributable to us. For additional information, see </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Note 10. Barnes &amp; Noble, Inc. Transactions</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Consolidated basis financial statements (Subsequent to the Spin-Off)</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Spin-Off from Barnes &amp; Noble, Inc. occurred on August 2, 2015 and therefore, the results of operations are presented on a consolidated basis for the 39 weeks ended April&#160;30, 2016 (i.e. second, third and fourth quarter of Fiscal 2016) which includes direct costs incurred with Barnes &amp; Noble, Inc. under various agreements. Certain corporate and shared service functions historically provided by Barnes&#160;&amp; Noble, Inc. (as described above) will continue to be provided by Barnes&#160;&amp; Noble, Inc. under the Transition Services Agreement. For additional information, see </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Note 10. Barnes &amp; Noble, Inc. Transactions</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">For our Fiscal 2017, the results of operations for the entire 52 weeks ended April 29, 2017, our consolidated financial statements are presented on a consolidated basis.</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On February 27, 2017, we acquired MBS Textbook Exchange, LLC ("MBS"). The consolidated financial statements for the 52 weeks ended April 29, 2017 include the financial results of MBS from the acquisition date, February 27, 2017, to April 29, 2017. Subsequent to the acquisition, the consolidated financial statements include the accounts of MBS and all material intercompany accounts and transactions have been eliminated in consolidation. For additional information, see </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Note 4. Acquisitions and Strategic Agreements. </font></div></div>
CY2017 us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Note 3. </font><font style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">Recent Accounting Pronouncements</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Pronouncements Adopted in Fiscal 2017</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In January 2017, the Financial Accounting Standards Board (&#8220;FASB&#8221;) issued</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> Accounting Standard Update (&#8220;ASU&#8221;) No. 2017-04, Intangibles - Goodwill and Other (Topic 350) </font><font style="font-family:inherit;font-size:10pt;">to simplify the test for Goodwill Impairment. The revised guidance eliminates the existing Step 2 of the goodwill impairment test which required an entity to compute the implied fair value of its goodwill at the testing date in order to measure the amount of the impairment charge when the fair value of the reporting unit failed Step 1 of the goodwill impairment test. Under the revised guidance, an entity would recognize an impairment charge for the amount by which the carrying amount of the reporting unit exceeds its fair value; however, the loss recognized would not exceed the total amount of goodwill allocated to the reporting unit. The guidance will be applied on a prospective basis. We are required to adopt this standard in the first quarter of Fiscal 2021 and early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. We plan to early adopt this standard for our next goodwill testing date.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In January 2017, the FASB issued </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">ASU No. 2017-01</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Business Combinations (Topic 805)</font><font style="font-family:inherit;font-size:10pt;"> to clarify the definition of a business. The revised guidance creates a more robust framework to use in determining whether a set of assets and activities is a business. The guidance will be applied on a prospective basis on or after the effective date. We are required to adopt this standard in the first quarter of Fiscal 2019 and early adoption is permitted. We have elected to early adopt this new guidance as of the third quarter of Fiscal 2017. There has been no impact on our consolidated financial statements from adoption of this new guidance.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In November 2016, the FASB issued </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">ASU No. 2016-18, Statement of Cash Flows (Topic 230) </font><font style="font-family:inherit;font-size:10pt;">to reduce</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> </font><font style="font-family:inherit;font-size:10pt;">diversity in practice related to the classification and presentation of changes in restricted cash on the statement of cash flows under Topic 230, Statement of Cash Flows. The revised guidance is to be applied on a retrospective basis and requires that amounts generally described as restricted cash and restricted cash equivalents be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. We are required to adopt this standard in the first quarter of Fiscal 2019, however, we have elected to early adopt this new guidance, as permitted, as of the fourth quarter of Fiscal 2017. We have included restricted cash of </font><font style="font-family:inherit;font-size:10pt;">$2,297</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$0</font><font style="font-family:inherit;font-size:10pt;"> in the end-of-period cash balances for Fiscal 2016 and Fiscal 2015, respectively. The offset to the </font><font style="font-family:inherit;font-size:10pt;">$2,297</font><font style="font-family:inherit;font-size:10pt;"> restricted cash reclassification is reflected as an increase to changes in other operating assets and liabilities of </font><font style="font-family:inherit;font-size:10pt;">$301</font><font style="font-family:inherit;font-size:10pt;"> and an increase in other noncurrent assets of </font><font style="font-family:inherit;font-size:10pt;">$1,996</font><font style="font-family:inherit;font-size:10pt;"> in our consolidated statement of cash flows for Fiscal 2016. </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In August 2016, the FASB issued</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> ASU No. 2016-15, Statement of Cash Flow (Topic 230) ("ASU 2016-15")</font><font style="font-family:inherit;font-size:10pt;"> to reduce diversity in practice over the presentation and classification of certain types of cash receipts and cash payments. The revised guidance seeks to achieve this objective by providing specific guidance over eight identified cash flow issues. We are required to adopt this standard in the first quarter of Fiscal 2019 and early adoption is permitted. The guidance will be applied on a retrospective basis beginning with the earliest period presented. We have evaluated the guidance of this new standard to determine the impact of adoption on our consolidated financial statements and concluded that there is no impact. We elected to early adopt this guidance in the first quarter of Fiscal 2017.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Pronouncements Pending Adoption</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In February 2016, the FASB issued </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">ASU No. 2016-02, Leases (Topic 842) ("ASU 2016-01")</font><font style="font-family:inherit;font-size:10pt;"> to increase transparency and comparability by providing additional information to users of financial statements regarding an entity's leasing activities. The revised guidance seeks to achieve this objective by requiring reporting entities to recognize lease assets and lease liabilities on the balance sheet for substantially all lease arrangements. We are required to adopt this standard in the first quarter of Fiscal 2020 and early adoption is permitted. The guidance will be applied on a modified retrospective basis beginning with the earliest period presented. We are currently evaluating this standard to determine the impact of adoption on our consolidated financial statements.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In May 2014, the FASB issued ASU No.&#160;2014-09, Revenue from Contracts with Customers (&#8220;ASU 2014-09&#8221;). The standard provides companies with a single model for use in accounting for revenue arising from contracts with customers and supersedes current revenue recognition guidance, including industry-specific revenue guidance. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. New disclosures about the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers are also required. In 2016, the FASB issued final amendments to clarify the implementation guidance for principal versus agent considerations, identifying performance obligations and the accounting for licenses of intellectual property. In August 2015, FASB issued ASU No.&#160;2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date, which effectively delayed the adoption date by one year. We are required to adopt ASU 2014-09 in the first quarter of Fiscal 2019 and early adoption is permitted. The new standard is required to be applied retrospectively to each prior reporting period (full retrospective method) or retrospectively with the cumulative effect of initially applying the standard recognized as an adjustment to opening retained earnings at the date of initial adoption (modified retrospective method).</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We are in the process of analyzing the impacts of the guidance across all of our revenue streams. This includes reviewing current accounting policies and practices to identify potential differences that would result from applying the guidance. The majority of our revenue is generated from sales of finished products, which will continue to be recognized when control is transferred to the customer. Our assessment includes an evaluation of the impact that the guidance will have on our accounting for marketing revenue and other income streams. We are evaluating the guidance for our software license revenue, which is currently not material and is recognized over time, but may be recognized at a point in time under the new guidance. We are continuing to evaluate our revenue streams related to our digital product offerings. We do not have loyalty programs or gift cards. While our assessment of the impacts of the guidance is still in process, we believe the adoption of the guidance is not expected to have a material impact on our consolidated financial statements, other than the additional disclosure requirements. We plan to adopt the standard in the first quarter of Fiscal 2019 using the modified retrospective method.</font></div></div>
CY2017 us-gaap Nature Of Operations
NatureOfOperations
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Note 1. </font><font style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">Organization</font></div><div style="line-height:120%;padding-top:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Description of Business </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Barnes &amp; Noble Education, Inc. (&#8220;BNED&#8221;) is one of the largest contract operators of physical and virtual bookstores for college and university campuses, and private/parochial K-12 schools, across the United States, and a leading provider of digital education services. Through our Barnes &amp; Noble College (&#8220;BNC&#8221;) and MBS Textbook Exchange (&#8220;MBS&#8221;) subsidiaries, we operate </font><font style="font-family:inherit;font-size:10pt;">1,481</font><font style="font-family:inherit;font-size:10pt;"> physical and virtual bookstores and serve more than </font><font style="font-family:inherit;font-size:10pt;">6 million</font><font style="font-family:inherit;font-size:10pt;"> students enrolled in higher education institutions and K-12 schools. </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">BNC operates </font><font style="font-family:inherit;font-size:10pt;">769</font><font style="font-family:inherit;font-size:10pt;"> physical campus bookstores, the majority of which also have school-branded e-commerce sites operated by BNC, and BNC also includes our digital operations. Our campus stores are a social and academic hub through which students can access affordable course materials and affinity products, including new and used print and digital textbooks, which are available for sale or rent; emblematic apparel and gifts; trade books; computer products; school and dorm supplies; caf&#233; offerings; convenience food and beverages; and graduation products. BNC product offerings also include a suite of digital content, software, and services through our LoudCloud platform, such as predictive analytics, a variety of courseware built on a foundation of open educational resources ("OER"), and competency-based learning solutions.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our MBS subsidiary operates two highly integrated businesses. The MBS Direct business is the largest contract operator of virtual bookstores for college and university campuses, and private/parochial K-12 schools. MBS Direct operates </font><font style="font-family:inherit;font-size:10pt;">712</font><font style="font-family:inherit;font-size:10pt;"> virtual bookstores, offering new and used print and digital textbooks, which are available for sale or rent. Additionally, MBS Direct sells textbooks directly to students through textbooks.com</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">SM</sup></font><font style="font-family:inherit;font-size:10pt;">, one of the largest e-commerce sites for new and used textbooks. MBS Wholesale is one of the largest textbook wholesalers in the country, providing a comprehensive selection of new and used textbooks at a low cost of supply to more than </font><font style="font-family:inherit;font-size:10pt;">3,700</font><font style="font-family:inherit;font-size:10pt;"> physical bookstores, including BNC&#8217;s </font><font style="font-family:inherit;font-size:10pt;">769</font><font style="font-family:inherit;font-size:10pt;"> campus bookstores.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Educational institutions increasingly are outsourcing bookstore operations, investing in data-driven analytical tools, and offering students more affordable options for textbooks and other learning tools. Given these continuing trends, we are well-positioned to capture new market share and partner with an increasing number of schools across the country. As demand for new, improved, and more affordable products and services increase in the rapidly changing education landscape, we are working to evolve our business model and enhance our solutions. We aim to be an even stronger partner for schools and meet customer needs by expanding our physical and virtual bookstore service capabilities, courseware offerings and digital platform services. We believe that our recent strategic actions, including the acquisition of LoudCloud, Promoversity and MBS, and development of courseware, have substantially enhanced our competitive position. We continue to aggressively innovate and collaborate with our partners to provide solutions that extend well beyond course materials sourcing and sales to include new digital services that support successful student outcomes.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">For additional information related to our </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Strategies, see Part I - Item 1. Business - Overview - Growth Drivers.</font></div></div>
CY2017 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In preparing financial statements in conformity with GAAP, we are required to make estimates and assumptions that affect the reported amounts in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates.</font></div></div>

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