$FND
Floor & Decor Holdings, Inc.

2020 Q1 Form 10-Q Financial Statement

#000155837020004811 Filed on April 30, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1
Revenue $554.9M $477.1M
YoY Change 16.33% 18.39%
Cost Of Revenue $318.9M $275.7M
YoY Change 15.68% 16.03%
Gross Profit $236.0M $201.4M
YoY Change 17.21% 21.76%
Gross Profit Margin 42.53% 42.21%
Selling, General & Admin $183.9M $157.6M
YoY Change 16.71% 22.25%
% of Gross Profit 77.92% 78.25%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $22.09M $17.18M
YoY Change 28.54% 49.43%
% of Gross Profit 9.36% 8.53%
Operating Expenses $189.4M $161.6M
YoY Change 17.17% 25.48%
Operating Profit $46.67M $39.76M
YoY Change 17.38% 8.68%
Interest Expense $1.807M $2.921M
YoY Change -38.14% -262.28%
% of Operating Profit 3.87% 7.35%
Other Income/Expense, Net
YoY Change
Pretax Income $44.87M $36.84M
YoY Change 21.79% 6.17%
Income Tax $7.804M $6.121M
% Of Pretax Income 17.39% 16.61%
Net Earnings $37.06M $30.72M
YoY Change 20.65% -3.61%
Net Earnings / Revenue 6.68% 6.44%
Basic Earnings Per Share $0.36 $0.31
Diluted Earnings Per Share $0.35 $0.29
COMMON SHARES
Basic Shares Outstanding 101.6M shares 97.79M
Diluted Shares Outstanding 105.5M shares 104.3M

Balance Sheet

Concept 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $289.9M $500.0K
YoY Change 57880.0% -16.67%
Cash & Equivalents $289.9M $451.0K
Short-Term Investments
Other Short-Term Assets $21.60M $23.30M
YoY Change -7.3% 109.91%
Inventory $588.9M $437.5M
Prepaid Expenses
Receivables $50.60M $66.10M
Other Receivables $0.00 $0.00
Total Short-Term Assets $951.0M $527.4M
YoY Change 80.32% 8.43%
LONG-TERM ASSETS
Property, Plant & Equipment $473.1M $998.0M
YoY Change -52.6% 306.68%
Goodwill $227.4M
YoY Change
Intangibles $109.3M
YoY Change
Long-Term Investments
YoY Change
Other Assets $7.551M $11.20M
YoY Change -32.58% 53.42%
Total Long-Term Assets $1.683B $1.346B
YoY Change 25.03% 128.33%
TOTAL ASSETS
Total Short-Term Assets $951.0M $527.4M
Total Long-Term Assets $1.683B $1.346B
Total Assets $2.634B $1.873B
YoY Change 40.59% 74.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $319.8M $229.5M
YoY Change 39.35% -10.0%
Accrued Expenses $100.4M $150.0M
YoY Change -33.05% 118.02%
Deferred Revenue $7.189M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.808M $3.500M
YoY Change -48.34% 0.0%
Total Short-Term Liabilities $506.5M $398.3M
YoY Change 27.16% 20.3%
LONG-TERM LIABILITIES
Long-Term Debt $413.3M $143.3M
YoY Change 188.43% -15.61%
Other Long-Term Liabilities $2.114M $686.1M
YoY Change -99.69% 1093.22%
Total Long-Term Liabilities $1.318B $829.4M
YoY Change 58.92% 264.89%
TOTAL LIABILITIES
Total Short-Term Liabilities $506.5M $398.3M
Total Long-Term Liabilities $1.318B $829.4M
Total Liabilities $1.825B $1.253B
YoY Change 45.57% 113.05%
SHAREHOLDERS EQUITY
Retained Earnings $431.1M
YoY Change
Common Stock $378.2M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $809.3M $620.0M
YoY Change
Total Liabilities & Shareholders Equity $2.634B $1.873B
YoY Change 40.59% 74.12%

Cashflow Statement

Concept 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income $37.06M $30.72M
YoY Change 20.65% -3.61%
Depreciation, Depletion And Amortization $22.09M $17.18M
YoY Change 28.54% 49.43%
Cash From Operating Activities $24.67M $27.02M
YoY Change -8.71% -33.45%
INVESTING ACTIVITIES
Capital Expenditures -$38.40M -$31.60M
YoY Change 21.52% 13.67%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$38.38M -$31.63M
YoY Change 21.34% 13.79%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $276.6M 4.420M
YoY Change 6158.14% -134.53%
NET CHANGE
Cash From Operating Activities $24.67M 27.02M
Cash From Investing Activities -$38.38M -31.63M
Cash From Financing Activities $276.6M 4.420M
Net Change In Cash $262.9M -193.0K
YoY Change -136314.51%
FREE CASH FLOW
Cash From Operating Activities $24.67M $27.02M
Capital Expenditures -$38.40M -$31.60M
Free Cash Flow $63.07M $58.62M
YoY Change 7.59% -14.3%

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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
262894000
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-193000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
27037000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
644000
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
289931000
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
451000
CY2020Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
63578000
CY2019Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
53049000
CY2020Q1 us-gaap Interest Paid Net
InterestPaidNet
1298000
CY2019Q1 us-gaap Interest Paid Net
InterestPaidNet
1987000
CY2020Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
19620000
CY2019Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
10836000
CY2020Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2020Q1 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
30
CY2020Q1 fnd Number Of Distribution Centers
NumberOfDistributionCenters
4
CY2020Q1 us-gaap Fiscal Period
FiscalPeriod
<p style="font-family:'Times New Roman';font-size:10pt;text-indent:0pt;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;font-weight:bold;">Fiscal Year</span></p><p style="font-family:'Times New Roman';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The Company’s fiscal year is the 52- or 53-week period ending on the Thursday on or preceding December 31st.<span style="font-family:'Times';"> Fiscal year ending December 31, 2020 (“fiscal 2020”) includes 53 weeks, and the fiscal year ended December 26, 2019 (“fiscal 2019”) included </span><span style="font-family:'Times';">52</span><span style="font-family:'Times';"> weeks. When a </span><span style="font-family:'Times';">53</span><span style="font-family:'Times';">-week fiscal year occurs, we report the additional week at the end of the fiscal fourth quarter. </span><span style="font-family:'Times';">52</span><span style="font-family:'Times';">-week fiscal years consist of </span><span style="-sec-ix-hidden:Hidden_j3vkFtb22kKIQA_U6TTZtw"><span style="color:#000000;font-family:'Times';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">thirteen</span></span><span style="font-family:'Times';">-week periods in each quarter of the fiscal year.</span></p>
CY2019 fnd Fiscal Year Period
FiscalYearPeriod
P364D
CY2020 fnd Fiscal Year Period
FiscalYearPeriod
P371D
CY2020Q1 fnd Decrease In Sales Period Over Period Attributable To Unusual Event
DecreaseInSalesPeriodOverPeriodAttributableToUnusualEvent
0.46
CY2019Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2020Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2019Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2020Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2020Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
419625000
CY2019Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
145500000
CY2020Q1 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
4491000
CY2019Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
2894000
CY2020Q1 us-gaap Long Term Debt
LongTermDebt
415134000
CY2019Q4 us-gaap Long Term Debt
LongTermDebt
142606000
CY2020Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
1808000
CY2020Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
413326000
CY2019Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
142606000
CY2020Q1 fnd Debt Carrying Amount Repayments Of Principal Remainder Of Fiscal Year
DebtCarryingAmountRepaymentsOfPrincipalRemainderOfFiscalYear
1446000
CY2020Q1 fnd Debt Carrying Amount Repayments Of Principal In Year Two
DebtCarryingAmountRepaymentsOfPrincipalInYearTwo
1085000
CY2020Q1 fnd Debt Carrying Amount Repayments Of Principal In Year Three
DebtCarryingAmountRepaymentsOfPrincipalInYearThree
1446000
CY2020Q1 fnd Debt Carrying Amount Repayments Of Principal In Year Four
DebtCarryingAmountRepaymentsOfPrincipalInYearFour
1446000
CY2020Q1 fnd Debt Carrying Amount Repayments Of Principal In Year Five
DebtCarryingAmountRepaymentsOfPrincipalInYearFive
1446000
CY2020Q1 fnd Debt Carrying Amount Repayments Of Principal After Year Five
DebtCarryingAmountRepaymentsOfPrincipalAfterYearFive
412756000
CY2020Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
419625000
CY2020Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
144625000
CY2020Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.174
CY2019Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.166
CY2020Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2020Q1 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
2200000
CY2019Q1 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
100000
CY2020Q1 us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
true
CY2020Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.052
CY2020Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P10Y
CY2020Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
33816000
CY2019Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
26015000
CY2020Q1 us-gaap Sublease Income
SubleaseIncome
597000
CY2019Q1 us-gaap Sublease Income
SubleaseIncome
623000
CY2020Q1 us-gaap Lease Cost
LeaseCost
33219000
CY2019Q1 us-gaap Lease Cost
LeaseCost
25392000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
119364000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
133445000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
126405000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
123690000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
119965000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
642961000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1265830000
CY2020Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
309221000
CY2020Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
956609000
CY2020Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
67588000
CY2020Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
889021000
CY2020Q1 fnd Lessee Operating Lease Lease Not Yet Commenced Amount
LesseeOperatingLeaseLeaseNotYetCommencedAmount
91700000
CY2020Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
32900000
CY2020Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2900000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
21.81
CY2020Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
453330
CY2020Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
8.34
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
105510000
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
104321000
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.36
CY2019Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.31
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.35
CY2019Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.29
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6037079
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
13.64
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
270531
CY2020Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
57.70
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
27648
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
23.27
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5826632
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
16.05
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
37063000
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
30720000
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
101629000
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
97785000
CY2020Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3881000
CY2019Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
6536000

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