2019 Q3 Form 10-Q Financial Statement

#000156459019034363 Filed on September 09, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2019 Q1 2018 Q3
Revenue $268.2M $234.7M $268.4M
YoY Change -0.05% -3.51% 14.17%
Cost Of Revenue $186.1M $168.0M $184.6M
YoY Change 0.83% -2.89% 10.66%
Gross Profit $82.10M $66.67M $83.78M
YoY Change -2.01% -5.03% 22.8%
Gross Profit Margin 30.61% 28.41% 31.22%
Selling, General & Admin $66.42M $65.20M $68.85M
YoY Change -3.53% -6.86% 11.41%
% of Gross Profit 80.91% 97.8% 82.18%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.120M $5.290M $5.590M
YoY Change -26.3% -9.73% -8.66%
% of Gross Profit 5.02% 7.94% 6.67%
Operating Expenses $66.42M $65.20M $68.85M
YoY Change -3.53% -6.99% 11.41%
Operating Profit $15.67M $1.497M $14.93M
YoY Change 4.98% 1397.0% 132.43%
Interest Expense $85.00K $300.0K $36.00K
YoY Change 136.11% -136.0%
% of Operating Profit 0.54% 20.04% 0.24%
Other Income/Expense, Net
YoY Change
Pretax Income $15.68M $1.800M $15.01M
YoY Change 4.42% 1700.0% 138.29%
Income Tax $3.843M $500.0K $3.237M
% Of Pretax Income 24.52% 27.78% 21.56%
Net Earnings $11.83M $1.359M $11.78M
YoY Change 0.48% -134.85% 202.23%
Net Earnings / Revenue 4.41% 0.58% 4.39%
Basic Earnings Per Share $0.81 $0.09 $0.77
Diluted Earnings Per Share $0.80 $0.09 $0.76
COMMON SHARES
Basic Shares Outstanding 14.62M 15.37B 15.25M
Diluted Shares Outstanding 14.74M 15.37M

Balance Sheet

Concept 2019 Q3 2019 Q1 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $37.50M $67.00M $38.40M
YoY Change -2.34% 38.72% 107.57%
Cash & Equivalents $37.46M $67.02M $38.41M
Short-Term Investments
Other Short-Term Assets $10.89M $11.53M $12.09M
YoY Change -9.98% 107.37% 72.77%
Inventory $336.9M $257.5M $336.9M
Prepaid Expenses
Receivables $2.414M $1.219M $3.918M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $387.7M $337.3M $391.3M
YoY Change -0.93% 5.22% 1.43%
LONG-TERM ASSETS
Property, Plant & Equipment $70.86M $70.61M $77.25M
YoY Change -8.28% -18.16% -19.53%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.284M $459.0K $343.0K
YoY Change 1148.98% -14.37% -96.85%
Total Long-Term Assets $305.7M $80.69M $85.98M
YoY Change 255.54% -15.06% -19.64%
TOTAL ASSETS
Total Short-Term Assets $387.7M $337.3M $391.3M
Total Long-Term Assets $305.7M $80.69M $85.98M
Total Assets $693.4M $418.0M $477.3M
YoY Change 45.27% 0.58% -3.14%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $108.4M $48.72M $90.93M
YoY Change 19.23% 16.71% -3.06%
Accrued Expenses $20.18M $22.07M $25.66M
YoY Change -21.36% 46.69% 25.78%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $175.4M $70.78M $116.6M
YoY Change 50.42% 24.65% 2.09%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $1.098M $67.00K $750.0K
YoY Change 46.4% -93.06% -98.55%
Total Long-Term Liabilities $1.098M $67.00K $750.0K
YoY Change 46.4% -93.06% -99.04%
TOTAL LIABILITIES
Total Short-Term Liabilities $175.4M $70.78M $116.6M
Total Long-Term Liabilities $1.098M $67.00K $750.0K
Total Liabilities $389.8M $113.6M $163.5M
YoY Change 138.36% 4.88% -15.09%
SHAREHOLDERS EQUITY
Retained Earnings $381.0M $360.4M $349.5M
YoY Change 9.0% 10.32%
Common Stock $205.0K $205.0K $205.0K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $155.0M $131.8M $104.9M
YoY Change 47.81% 54.93%
Treasury Stock Shares $5.822M $5.154M $4.440M
Shareholders Equity $303.6M $304.4M $313.8M
YoY Change
Total Liabilities & Shareholders Equity $693.4M $418.0M $477.3M
YoY Change 45.27% 0.58% -3.14%

Cashflow Statement

Concept 2019 Q3 2019 Q1 2018 Q3
OPERATING ACTIVITIES
Net Income $11.83M $1.359M $11.78M
YoY Change 0.48% -134.85% 202.23%
Depreciation, Depletion And Amortization $4.120M $5.290M $5.590M
YoY Change -26.3% -9.73% -8.66%
Cash From Operating Activities $19.33M $36.36M $5.650M
YoY Change 242.12% 15.83% -133.65%
INVESTING ACTIVITIES
Capital Expenditures -$2.290M -$2.390M -$1.700M
YoY Change 34.71% -18.71% -67.68%
Acquisitions
YoY Change
Other Investing Activities $10.00K $1.510M $280.0K
YoY Change -96.43%
Cash From Investing Activities -$2.280M -$890.0K -$1.420M
YoY Change 60.56% -69.73% -73.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.200M -8.160M -1.180M
YoY Change 1.69% 558.06% -107.71%
NET CHANGE
Cash From Operating Activities 19.33M 36.36M 5.650M
Cash From Investing Activities -2.280M -890.0K -1.420M
Cash From Financing Activities -1.200M -8.160M -1.180M
Net Change In Cash 15.85M 27.31M 3.050M
YoY Change 419.67% 0.37% -145.25%
FREE CASH FLOW
Cash From Operating Activities $19.33M $36.36M $5.650M
Capital Expenditures -$2.290M -$2.390M -$1.700M
Free Cash Flow $21.62M $38.75M $7.350M
YoY Change 194.15% 12.88% -163.75%

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us-gaap Increase Decrease In Accounts Receivable
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us-gaap Increase Decrease In Accounts Receivable
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us-gaap Increase Decrease In Retail Related Inventories
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79380000
us-gaap Increase Decrease In Retail Related Inventories
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76407000
scvl Increase Decrease In Operating Lease Liabilities
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-23346000
scvl Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
0
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
59565000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
58562000
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
7970000
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
5125000
us-gaap Net Cash Provided By Used In Operating Activities
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10017000
us-gaap Net Cash Provided By Used In Operating Activities
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14133000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
11490000
us-gaap Payments To Acquire Property Plant And Equipment
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2661000
us-gaap Proceeds From Sale Of Property Plant And Equipment
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8000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
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us-gaap Payments For Proceeds From Other Investing Activities
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0
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Proceeds From Lines Of Credit
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20000000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
0
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
20000000
us-gaap Repayments Of Lines Of Credit
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0
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
104000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
107000
us-gaap Payments Of Dividends
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3250000
us-gaap Payments Of Dividends
PaymentsOfDividends
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us-gaap Payments For Repurchase Of Common Stock
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14012000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash And Cash Equivalents Period Increase Decrease
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CY2018Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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us-gaap Interest Paid Net
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us-gaap Interest Paid Net
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us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
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us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
7367000
us-gaap Capital Expenditures Incurred But Not Yet Paid
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us-gaap Capital Expenditures Incurred But Not Yet Paid
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scvl Diluted Shares Outstanding Adjustment Net Income
DilutedSharesOutstandingAdjustmentNetIncome
0
CY2019Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
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CY2018Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
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CY2019Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2018Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
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11731000
CY2019Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
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CY2018Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
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CY2019Q3 scvl Diluted Shares Outstanding Adjustment Net Income
DilutedSharesOutstandingAdjustmentNetIncome
0
CY2018Q3 scvl Diluted Shares Outstanding Adjustment Net Income
DilutedSharesOutstandingAdjustmentNetIncome
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CY2019Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
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CY2018Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
11731000
CY2019Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
121000
CY2018Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
118000
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
53000
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
108000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
25652000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
24622000
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
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us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
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108000
scvl Diluted Shares Outstanding Adjustment Net Income
DilutedSharesOutstandingAdjustmentNetIncome
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us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
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us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
24622000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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350000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
59000
CY2019Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
251700000
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
25800000
CY2019Q1 us-gaap Capital Lease Obligations
CapitalLeaseObligations
2600000
CY2019Q3 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
15684000
CY2019Q1 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
68500000
CY2018Q3 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
31124000
CY2019Q3 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
40000
CY2018Q3 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
scvl Unamortized Amount Of Long Lived Assets
UnamortizedAmountOfLongLivedAssets
3000
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
1000000
CY2019Q3 us-gaap Employee Stock Ownership Plan Esop Compensation Expense
EmployeeStockOwnershipPlanESOPCompensationExpense
7000
us-gaap Employee Stock Ownership Plan Esop Compensation Expense
EmployeeStockOwnershipPlanESOPCompensationExpense
18000
CY2018Q3 us-gaap Employee Stock Ownership Plan Esop Compensation Expense
EmployeeStockOwnershipPlanESOPCompensationExpense
7000
us-gaap Employee Stock Ownership Plan Esop Compensation Expense
EmployeeStockOwnershipPlanESOPCompensationExpense
19000
CY2019Q3 scvl Employee Stock Purchase Plan Income Tax Benefit
EmployeeStockPurchasePlanIncomeTaxBenefit
2000
scvl Employee Stock Purchase Plan Income Tax Benefit
EmployeeStockPurchasePlanIncomeTaxBenefit
3000
CY2018Q3 scvl Employee Stock Purchase Plan Income Tax Benefit
EmployeeStockPurchasePlanIncomeTaxBenefit
2000
scvl Employee Stock Purchase Plan Income Tax Benefit
EmployeeStockPurchasePlanIncomeTaxBenefit
4000
scvl Restricted Stock Awards Granted Weighted Average Grant Date Fair Value
RestrictedStockAwardsGrantedWeightedAverageGrantDateFairValue
26.58
scvl Restricted Stock Awards Granted Weighted Average Grant Date Fair Value
RestrictedStockAwardsGrantedWeightedAverageGrantDateFairValue
32.74
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
16900000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
887000
CY2019Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
80000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P8M12D
CY2019Q3 us-gaap Contract With Customer Refund Liability
ContractWithCustomerRefundLiability
600000
CY2019Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
410000
CY2019Q3 scvl Contract Liabilities Associated With Unredeemed Gift Cards
ContractLiabilitiesAssociatedWithUnredeemedGiftCards
1200000
CY2019Q1 scvl Contract Liabilities Associated With Unredeemed Gift Cards
ContractLiabilitiesAssociatedWithUnredeemedGiftCards
1600000
CY2018Q3 scvl Contract Liabilities Associated With Unredeemed Gift Cards
ContractLiabilitiesAssociatedWithUnredeemedGiftCards
1300000
CY2019Q3 scvl Revenue Recognized Breakage For Unredeemed Gift Cards
RevenueRecognizedBreakageForUnredeemedGiftCards
30000
scvl Revenue Recognized Breakage For Unredeemed Gift Cards
RevenueRecognizedBreakageForUnredeemedGiftCards
63000
CY2018Q3 scvl Revenue Recognized Breakage For Unredeemed Gift Cards
RevenueRecognizedBreakageForUnredeemedGiftCards
39000
scvl Revenue Recognized Breakage For Unredeemed Gift Cards
RevenueRecognizedBreakageForUnredeemedGiftCards
77000
CY2019Q3 scvl Contract Liabilities Associated With Loyalty Rewards
ContractLiabilitiesAssociatedWithLoyaltyRewards
352000
CY2019Q1 scvl Contract Liabilities Associated With Loyalty Rewards
ContractLiabilitiesAssociatedWithLoyaltyRewards
245000
CY2018Q3 scvl Contract Liabilities Associated With Loyalty Rewards
ContractLiabilitiesAssociatedWithLoyaltyRewards
308000
CY2019Q3 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
448000
us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
854000
CY2018Q3 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
407000
us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
585000
scvl Lease Term
LeaseTerm
P15Y
scvl Lease Expiration Year
LeaseExpirationYear
2034
CY2019Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
13231000
us-gaap Operating Lease Cost
OperatingLeaseCost
27194000
CY2019Q3 us-gaap Variable Lease Cost
VariableLeaseCost
180000
us-gaap Variable Lease Cost
VariableLeaseCost
398000
CY2019Q3 scvl Common Area Maintenance Property Taxes And Insurance Lease Cost
CommonAreaMaintenancePropertyTaxesAndInsuranceLeaseCost
4935000
scvl Common Area Maintenance Property Taxes And Insurance Lease Cost
CommonAreaMaintenancePropertyTaxesAndInsuranceLeaseCost
10184000
CY2019Q3 us-gaap Lease Cost
LeaseCost
18346000
us-gaap Lease Cost
LeaseCost
37776000
scvl Cash Paid For Amounts Included In Measurement Of Operating Lease Liabilities
CashPaidForAmountsIncludedInMeasurementOfOperatingLeaseLiabilities
30236000
us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
20924000
CY2019Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y3M18D
CY2019Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.054
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
30512000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
54089000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
53418000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
46127000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
39000000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
80704000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
303850000
CY2019Q3 scvl Operating Leases Imputed Interest
OperatingLeasesImputedInterest
57475000
CY2019Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
246375000
CY2019Q1 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
60807000
CY2019Q1 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
51937000
CY2019Q1 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
50687000
CY2019Q1 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
41536000
CY2019Q1 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
34035000
CY2019Q1 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
56437000
CY2019Q1 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
295439000

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