$LESL
Leslie's, Inc.

2021 Q4 Form 10-K Financial Statement

#000095017021005153 Filed on December 10, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $408.9M $1.343B $381.3M
YoY Change 7.25% 20.74% 210.0%
Cost Of Revenue $220.9M $747.8M $214.7M
YoY Change 2.87% 14.77% 162.15%
Gross Profit $188.1M $595.2M $166.6M
YoY Change 12.88% 29.18% 305.57%
Gross Profit Margin 45.99% 44.32% 43.69%
Selling, General & Admin $114.5M $386.1M $96.30M
YoY Change 18.95% 22.82% 61.25%
% of Gross Profit 60.91% 64.87% 57.8%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.348M $26.60M $8.300M
YoY Change -11.47% -7.96%
% of Gross Profit 3.91% 4.47% 4.98%
Operating Expenses $114.5M $386.1M $96.30M
YoY Change 18.95% 22.82% 61.25%
Operating Profit $73.52M $209.1M $70.30M
YoY Change 4.57% 42.84% -477.09%
Interest Expense -$7.369M $34.41M -$18.60M
YoY Change -60.38% -59.08% -182.97%
% of Operating Profit -10.02% 16.46% -26.46%
Other Income/Expense, Net -$460.0K -$2.377M -$200.0K
YoY Change 130.0% 118.27% 45.99%
Pretax Income $59.29M $163.1M $49.30M
YoY Change 20.26% 166.6% -219.67%
Income Tax $14.75M $36.50M $7.200M
% Of Pretax Income 24.87% 22.37% 14.6%
Net Earnings $44.54M $126.6M $42.10M
YoY Change 5.8% 116.24% -260.77%
Net Earnings / Revenue 10.89% 9.43% 11.04%
Basic Earnings Per Share $0.68
Diluted Earnings Per Share $232.9K $0.67 $225.6K
COMMON SHARES
Basic Shares Outstanding 190.0M 185.4M
Diluted Shares Outstanding 190.0M

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $343.5M $343.5M $157.1M
YoY Change 118.65% 118.65%
Cash & Equivalents $343.5M $343.5M $157.1M
Short-Term Investments
Other Short-Term Assets $7.750M $20.56M $4.056M
YoY Change 91.07% -40.57%
Inventory $198.8M $198.8M $149.0M
Prepaid Expenses $12.81M
Receivables $38.86M $38.86M $31.48M
Other Receivables $4.621M $0.00 $4.590M
Total Short-Term Assets $601.7M $601.7M $360.2M
YoY Change 67.06% 61.71% 48.27%
LONG-TERM ASSETS
Property, Plant & Equipment $70.34M $282.6M $66.39M
YoY Change 5.94% 15.83%
Goodwill $101.1M $93.30M
YoY Change 8.38% 0.51%
Intangibles $27.91M $27.89M
YoY Change 0.05% -5.7%
Long-Term Investments
YoY Change
Other Assets $25.15M $28.88M $14.44M
YoY Change 74.12% 217.38%
Total Long-Term Assets $440.5M $440.5M $386.3M
YoY Change 14.05% 17.69%
TOTAL ASSETS
Total Short-Term Assets $601.7M $601.7M $360.2M
Total Long-Term Assets $440.5M $440.5M $386.3M
Total Assets $1.042B $1.042B $746.4M
YoY Change 39.63% 39.63%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $101.0M $101.0M $92.37M
YoY Change 9.3% 9.26%
Accrued Expenses $146.8M $146.8M $101.2M
YoY Change 45.13% 12.25% 86.03%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $8.100M $8.100M $8.341M
YoY Change -2.89% -2.41% 0.0%
Total Short-Term Liabilities $309.7M $309.7M $258.2M
YoY Change 19.95% 19.95%
LONG-TERM LIABILITIES
Long-Term Debt $786.1M $160.0M $1.180B
YoY Change -33.35% -86.43% -0.48%
Other Long-Term Liabilities $3.915M $790.0M $5.457M
YoY Change -28.26% 482.2% -31.24%
Total Long-Term Liabilities $790.0M $950.1M $1.185B
YoY Change -33.33% -27.77% -0.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $309.7M $309.7M $258.2M
Total Long-Term Liabilities $790.0M $950.1M $1.185B
Total Liabilities $1.260B $1.260B $1.573B
YoY Change -19.93% -19.93% 0.59%
SHAREHOLDERS EQUITY
Retained Earnings -$422.5M -$549.1M
YoY Change -23.06% -13.37%
Common Stock $204.9M -$277.9M
YoY Change -173.73% -0.43%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$217.6M -$217.6M -$827.0M
YoY Change
Total Liabilities & Shareholders Equity $1.042B $1.042B $746.4M
YoY Change 39.63% 39.63% 14.61%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income $44.54M $126.6M $42.10M
YoY Change 5.8% 116.24% -260.77%
Depreciation, Depletion And Amortization $7.348M $26.60M $8.300M
YoY Change -11.47% -7.96%
Cash From Operating Activities $51.18M $169.6M $17.50M
YoY Change 192.48% 63.97% -121.54%
INVESTING ACTIVITIES
Capital Expenditures -$11.13M $28.93M -$5.100M
YoY Change 118.27% 40.24% -188.88%
Acquisitions $8.900M
YoY Change 43.83%
Other Investing Activities -$2.047M -$6.424M $0.00
YoY Change 3.61%
Cash From Investing Activities -$13.18M -$35.36M -$5.100M
YoY Change 158.41% 31.87% -57.21%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $396.1M
YoY Change 3699.86%
Cash From Financing Activities -2.025M 53.78M -4.100M
YoY Change -50.61% -615.88% -197.27%
NET CHANGE
Cash From Operating Activities 51.18M 169.6M 17.50M
Cash From Investing Activities -13.18M -35.36M -5.100M
Cash From Financing Activities -2.025M 53.78M -4.100M
Net Change In Cash 35.98M 188.0M 8.300M
YoY Change 333.49% 184.08% -109.33%
FREE CASH FLOW
Cash From Operating Activities $51.18M $169.6M $17.50M
Capital Expenditures -$11.13M $28.93M -$5.100M
Free Cash Flow $62.32M $140.6M $22.60M
YoY Change 175.73% 69.88% -125.98%

Facts In Submission

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LESLIE’S, INC.
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IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
39336000
CY2019 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
23832000
CY2021 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
5088000
CY2020 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-4856000
CY2019 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
2614000
CY2021 lesl Increase Decrease In Operating Lease Assets And Liabilities Net
IncreaseDecreaseInOperatingLeaseAssetsAndLiabilitiesNet
1786000
CY2020 lesl Increase Decrease In Operating Lease Assets And Liabilities Net
IncreaseDecreaseInOperatingLeaseAssetsAndLiabilitiesNet
7037000
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
169560000
CY2020 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
103409000
CY2019 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
57821000
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
28931000
CY2020 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
20630000
CY2019 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
27444000
CY2021 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
8868000
CY2020 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
6188000
CY2019 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
9616000
CY2021 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
2444000
CY2020 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
7000
CY2019 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
64000
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-35355000
CY2020 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-26811000
CY2019 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-36996000
CY2020 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
238750000
CY2019 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
190900000
CY2020 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
238750000
CY2019 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
190900000
CY2021 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
396135000
CY2020 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
10425000
CY2019 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
6255000
CY2020 us-gaap Interest Paid Net
InterestPaidNet
88678000
CY2019 us-gaap Interest Paid Net
InterestPaidNet
90478000
CY2021 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
907000
CY2021 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
9579000
CY2021 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
458587000
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
53780000
CY2021 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
28559000
CY2020 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
15305000
CY2019 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
12944000
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-10425000
CY2019 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-7495000
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
187985000
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
66173000
CY2019 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
13330000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
157072000
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
90899000
CY2018Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
77569000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
345057000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
157072000
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
90899000
CY2021 us-gaap Interest Paid Net
InterestPaidNet
36408000
CY2021 us-gaap Nature Of Operations
NatureOfOperations
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;">Note 1—Business and Operations</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;"> </span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">Leslie’s, Inc. (“Leslie’s,” “we,” “our,” “us,” “its,” or the “Company”) is the leading direct-to-consumer pool and spa care brand. We market and sell pool and spa supplies and related products and services, which primarily consist of maintenance items such as chemicals, equipment and parts, cleaning accessories, as well as safety, recreational, and fitness-related products. We currently market our products through</span><span style="background-color:rgba(0,0,0,0);color:rgba(255,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> </span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">952</span><span style="background-color:rgba(0,0,0,0);color:rgba(255,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">company-operated locations in </span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">38</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> states and e-commerce websites.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> </span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:18.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;">Initial Public Offering</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;"> </span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">In November 2020, we completed an initial public offering (“IPO”) of </span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">30.0</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> million shares of common stock at a public offering price of $</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">17.00</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> per share for net proceeds of $</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">458.6</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> million, after deducting underwriting discounts and commissions of $</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">45.0</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> million and offering costs of $</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">6.3</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> million. We used the net proceeds from the IPO to repay the entire outstanding amount related to our $</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">390.0</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> million senior unsecured notes. The remaining proceeds were used for working capital and general corporate purposes.</span></p>
CY2021 lesl Number Of Company Operated Locations
NumberOfCompanyOperatedLocations
952
CY2021Q4 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
38
CY2021 us-gaap Stockholders Equity Note Stock Split
StockholdersEquityNoteStockSplit
156,500-for-1
CY2021 us-gaap Fiscal Period
FiscalPeriod
<p style="text-indent:4.533%;font-size:10.0pt;margin-top:18.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;">Fiscal Periods</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;"> </span></p><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">We operate on a fiscal calendar that results in a fiscal year consisting of a 52- or 53-week period ending on the Saturday closest to September 30th. In a 52-week fiscal year, each quarter contains 13 weeks of operations; in a 53-week fiscal year, each of the first, second and third quarters includes 13 weeks of operations and the fourth quarter includes 14 weeks of operations. References to fiscal 2021, 2020 and 2019 refer to the 52 weeks ended October 2, 2021, 53 weeks ended October 3, 2020 and 52 weeks ended September 28, 2019, respectively.</span>
CY2019Q3 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0
CY2021Q4 us-gaap Fair Value Liabilities Level1 To Level2 Transfers Amount
FairValueLiabilitiesLevel1ToLevel2TransfersAmount
0
CY2020Q4 us-gaap Fair Value Liabilities Level1 To Level2 Transfers Amount
FairValueLiabilitiesLevel1ToLevel2TransfersAmount
0
CY2019Q3 us-gaap Fair Value Liabilities Level1 To Level2 Transfers Amount
FairValueLiabilitiesLevel1ToLevel2TransfersAmount
0
CY2021 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:4.533%;font-size:10.0pt;margin-top:18.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;">Use of Estimates</span></p><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">To prepare financial statements that conform to GAAP, we make estimates and assumptions that affect the amounts reported in our financial statements and accompanying notes. Our most significant estimates relate to sales returns, inventory obsolescence reserves, lease assumptions, vendor rebate programs, income taxes, self-insurance, valuation of intangible assets and goodwill and intangible asset impairment evaluations. We continually review our estimates and make adjustments as necessary, but actual results could be significantly different from what we expected when we made these estimates.</span>
CY2021 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="text-indent:4.533%;font-size:10.0pt;margin-top:18.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;">Prior Period Reclassifications</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">Reclassifications of certain immaterial prior period amounts have been made to conform to current period presentation.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> </span></p>
CY2021Q4 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2020Q4 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2019Q3 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2021Q4 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0
CY2020Q4 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0
CY2021Q4 us-gaap Fair Value Liabilities Level2 To Level1 Transfers Amount
FairValueLiabilitiesLevel2ToLevel1TransfersAmount
0
CY2020Q4 us-gaap Fair Value Liabilities Level2 To Level1 Transfers Amount
FairValueLiabilitiesLevel2ToLevel1TransfersAmount
0
CY2019Q3 us-gaap Fair Value Liabilities Level2 To Level1 Transfers Amount
FairValueLiabilitiesLevel2ToLevel1TransfersAmount
0
CY2021Q4 lesl Vendor Rebate Receivables
VendorRebateReceivables
20200000
CY2020Q4 lesl Vendor Rebate Receivables
VendorRebateReceivables
15900000
CY2021 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2021 lesl Impairment Charges Related To Goodwill Or Other Indefinite Lived Intangible Assets
ImpairmentChargesRelatedToGoodwillOrOtherIndefiniteLivedIntangibleAssets
0
CY2020 lesl Impairment Charges Related To Goodwill Or Other Indefinite Lived Intangible Assets
ImpairmentChargesRelatedToGoodwillOrOtherIndefiniteLivedIntangibleAssets
0
CY2019 lesl Impairment Charges Related To Goodwill Or Other Indefinite Lived Intangible Assets
ImpairmentChargesRelatedToGoodwillOrOtherIndefiniteLivedIntangibleAssets
0
CY2021Q4 lesl Intangible Assets Accumulated Amortization
IntangibleAssetsAccumulatedAmortization
30037000
CY2021Q4 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P5Y
CY2021 us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
true
CY2021 us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
one additional five-year
CY2021 us-gaap Lessee Operating Lease Option To Terminate
LesseeOperatingLeaseOptionToTerminate
Some of our leases may include the option to terminate in less than five years.
CY2021 us-gaap Lessee Operating Lease Existence Of Option To Terminate
LesseeOperatingLeaseExistenceOfOptionToTerminate
true
CY2021 lesl Credit Payment Terms For Commercial Customers
CreditPaymentTermsForCommercialCustomers
P60D
CY2021 lesl Timing Extended For Increase In Number Of Points Earned On Qualifying Purchases
TimingExtendedForIncreaseInNumberOfPointsEarnedOnQualifyingPurchases
P12M
CY2021Q4 lesl Incremental Liability Related To Conversion Of Prior Loyalty Program Awards
IncrementalLiabilityRelatedToConversionOfPriorLoyaltyProgramAwards
1600000
CY2021Q4 us-gaap Deferred Revenue
DeferredRevenue
5900000
CY2021 us-gaap Advertising Expense
AdvertisingExpense
25400000
CY2020 us-gaap Advertising Expense
AdvertisingExpense
19400000
CY2019 us-gaap Advertising Expense
AdvertisingExpense
18000000.0
CY2021Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
27906000
CY2020Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
55707000
CY2020Q4 lesl Intangible Assets Accumulated Amortization
IntangibleAssetsAccumulatedAmortization
27816000
CY2020Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
27891000
CY2020Q4 us-gaap Goodwill
Goodwill
93295000
CY2019Q3 us-gaap Goodwill
Goodwill
89739000
CY2021 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
7819000
CY2020 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
3556000
CY2021Q4 us-gaap Goodwill
Goodwill
101114000
CY2020Q4 us-gaap Goodwill
Goodwill
93295000
CY2021Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
57943000
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2200000
CY2020 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2600000
CY2019 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2500000
CY2021 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
0
CY2020 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
0
CY2019 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
0
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
2202000
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
1969000
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
1331000
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
1234000
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
988000
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
2432000
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
10156000
CY2021Q4 lesl Vendor And Other Rebates Receivable
VendorAndOtherRebatesReceivable
23222000
CY2020Q4 lesl Vendor And Other Rebates Receivable
VendorAndOtherRebatesReceivable
18044000
CY2021Q4 lesl Customer Receivables Current
CustomerReceivablesCurrent
13473000
CY2020Q4 lesl Customer Receivables Current
CustomerReceivablesCurrent
9511000
CY2021Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
4621000
CY2020Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
4590000
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
2456000
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
664000
CY2021Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
38860000
CY2020Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
31481000
CY2021Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
4244000
CY2020Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
1967000
CY2021Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
194545000
CY2020Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
146999000
CY2021Q4 us-gaap Inventory Net
InventoryNet
198789000
CY2020Q4 us-gaap Inventory Net
InventoryNet
148966000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
392271000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
385631000
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