2022 Q2 Form 10-Q Financial Statement

#000155837022009696 Filed on June 03, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2022 Q1 2021 Q2
Revenue $957.3M $902.7M $860.8M
YoY Change 11.21% 11.12% 78.26%
Cost Of Revenue $458.7M $447.2M $453.8M
YoY Change 1.08% 4.67% 60.22%
Gross Profit $498.6M $455.5M $407.0M
YoY Change 22.51% 18.27% 103.84%
Gross Profit Margin 52.08% 50.46% 47.28%
Selling, General & Admin $293.3M $237.7M $219.1M
YoY Change 33.87% 17.98% 33.43%
% of Gross Profit 58.83% 52.19% 53.83%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $24.76M $24.65M $23.89M
YoY Change 3.65% 5.78% -4.07%
% of Gross Profit 4.97% 5.41% 5.87%
Operating Expenses $293.3M $237.7M $219.1M
YoY Change 33.87% 17.98% 33.43%
Operating Profit $205.3M $217.8M $187.9M
YoY Change 9.26% 18.59% 429.96%
Interest Expense $20.86M -$24.84M $13.31M
YoY Change 56.71% 71.28% -32.2%
% of Operating Profit 10.16% -11.4% 7.08%
Other Income/Expense, Net $166.6M -$2.778M $13.41M
YoY Change 1142.29% -66.54%
Pretax Income $38.66M $182.8M $174.5M
YoY Change -77.84% 8.1% -3864.29%
Income Tax -$163.0M $34.43M $41.70M
% Of Pretax Income -421.62% 18.84% 23.9%
Net Earnings $200.7M $147.0M $130.7M
YoY Change 53.62% 12.94% -4167.75%
Net Earnings / Revenue 20.97% 16.29% 15.18%
Basic Earnings Per Share $15.34 $6.22
Diluted Earnings Per Share $12.16 $4.906M $4.19
COMMON SHARES
Basic Shares Outstanding 22.61M 21.71M 21.00M
Diluted Shares Outstanding 28.53M 31.21M

Balance Sheet

Concept 2022 Q2 2022 Q1 2021 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.243B $2.178B $229.5M
YoY Change 877.34% 2069.21% 1234.46%
Cash & Equivalents $2.243B $2.178B $229.5M
Short-Term Investments
Other Short-Term Assets $106.4M $97.59M $91.91M
YoY Change 15.81% 16.46% 41.18%
Inventory $817.3M $734.3M $593.9M
Prepaid Expenses $31.50M
Receivables $65.60M $57.91M $60.21M
Other Receivables $166.4M $23.76M $13.82M
Total Short-Term Assets $3.399B $3.091B $989.4M
YoY Change 243.54% 285.71% 58.12%
LONG-TERM ASSETS
Property, Plant & Equipment $1.357B $1.228B $1.104B
YoY Change 22.96% 13.99% 15.72%
Goodwill $141.1M $141.1M $141.2M
YoY Change -0.04% 0.0% 13.57%
Intangibles
YoY Change
Long-Term Investments $100.6M $100.8M $99.13M
YoY Change 1.43% 0.21%
Other Assets $208.6M $298.1M $240.0M
YoY Change -13.08% 48.94% 4.91%
Total Long-Term Assets $2.489B $2.449B $2.248B
YoY Change 10.72% 16.8% 24.6%
TOTAL ASSETS
Total Short-Term Assets $3.399B $3.091B $989.4M
Total Long-Term Assets $2.489B $2.449B $2.248B
Total Assets $5.888B $5.540B $3.237B
YoY Change 81.88% 91.16% 33.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $254.5M $242.0M $231.9M
YoY Change 9.76% 7.62% 52.68%
Accrued Expenses $248.7M $274.2M $237.0M
YoY Change 4.96% 3.54% 20.35%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $3.875M $13.63M $28.07M
YoY Change -86.19% -40.1% 43.29%
Total Short-Term Liabilities $1.362B $1.064B $1.016B
YoY Change 33.99% 15.42% 4.88%
LONG-TERM LIABILITIES
Long-Term Debt $2.644B $1.129M $1.079B
YoY Change 145.09% -92.27% 4.02%
Other Long-Term Liabilities $7.731M $8.706M $15.83M
YoY Change -51.15% -72.45% 432.72%
Total Long-Term Liabilities $7.731M $9.835M $15.83M
YoY Change -51.15% -78.72% 432.72%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.362B $1.064B $1.016B
Total Long-Term Liabilities $7.731M $9.835M $15.83M
Total Liabilities $4.546B $4.370B $2.643B
YoY Change 72.02% 78.28% 9.63%
SHAREHOLDERS EQUITY
Retained Earnings $771.7M $551.1M -$6.782M
YoY Change -11478.77% -500.99% -98.36%
Common Stock $2.000K $2.000K $2.000K
YoY Change 0.0% 0.0% -100.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.342B $1.170B $594.5M
YoY Change
Total Liabilities & Shareholders Equity $5.888B $5.540B $3.237B
YoY Change 81.88% 91.16% 33.23%

Cashflow Statement

Concept 2022 Q2 2022 Q1 2021 Q2
OPERATING ACTIVITIES
Net Income $200.7M $147.0M $130.7M
YoY Change 53.62% 12.94% -4167.75%
Depreciation, Depletion And Amortization $24.76M $24.65M $23.89M
YoY Change 3.65% 5.78% -4.07%
Cash From Operating Activities $135.9M $128.4M $190.9M
YoY Change -28.78% -16.33% -1231.58%
INVESTING ACTIVITIES
Capital Expenditures $29.36M -$31.61M $50.25M
YoY Change -41.57% -19.57% 202.13%
Acquisitions
YoY Change
Other Investing Activities -$1.115M -$4.154M -$1.172M
YoY Change -4.86% -95.44%
Cash From Investing Activities -$30.48M -$35.76M -$51.42M
YoY Change -40.73% -72.55% 209.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -42.35M -114.4M -11.03M
YoY Change 283.89% 773.18% -446.7%
NET CHANGE
Cash From Operating Activities 135.9M 128.4M 190.9M
Cash From Investing Activities -30.48M -35.76M -51.42M
Cash From Financing Activities -42.35M -114.4M -11.03M
Net Change In Cash 62.84M -21.72M 128.5M
YoY Change -51.08% -315.03% -521.86%
FREE CASH FLOW
Cash From Operating Activities $135.9M $128.4M $190.9M
Capital Expenditures $29.36M -$31.61M $50.25M
Free Cash Flow $106.6M $160.0M $140.6M
YoY Change -24.21% -16.99% -519.77%

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 2pt 0pt;">COVID-19 Pandemic and Macro-Economic Factors</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 9pt 0pt;">The COVID-19 pandemic continues to cause challenges in certain aspects of our business operations primarily related to our supply chain, including delays in our receipt of products from vendors, which have affected our ability to convert demand into revenues at normal historic rates. While our performance during the pandemic demonstrates the desirability of our exclusive products, we may see consumer spending patterns shift away from spending on the home and home-related categories as customers return to pre-COVID consumption trends, such as spending on travel and leisure, and other activities. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 9pt 0pt;">There are a number of macro-economic factors and uncertainties affecting the overall business climate as well as our business including increased inflation and rising interest rates. These factors may have a number of adverse effects on overall economic conditions and markets in which we operate. A slowdown in the housing market or continued negative trends in stock market prices could have a negative impact on our customers and demand for our products.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 9pt 0pt;">Our decisions regarding the sources and uses of capital will continue to reflect and adapt to changes in market conditions and our business including further developments with respect to the pandemic. For more information, refer to the section entitled “Risk Factors” in our 2021 Form 10-K.</p>
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CY2022Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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CY2021Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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CY2021Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2022Q2 us-gaap Share Based Compensation
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CY2021Q2 us-gaap Share Based Compensation
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CY2021Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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CY2022Q2 us-gaap Goodwill
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CY2021Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
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CY2022Q2 rh Entity Wide Revenue Major Customer Number
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