2016 Q2 Form 10-Q Financial Statement

#000091636516000193 Filed on August 04, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2
Revenue $1.853B $1.773B
YoY Change 4.49% 11.94%
Cost Of Revenue $1.203B $1.148B
YoY Change 4.86% 11.06%
Gross Profit $649.2M $625.3M
YoY Change 3.82% 13.58%
Gross Profit Margin 35.05% 35.27%
Selling, General & Admin $365.9M $349.8M
YoY Change 4.59% 12.28%
% of Gross Profit 56.36% 55.95%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $34.00M $30.30M
YoY Change 12.21% 8.6%
% of Gross Profit 5.24% 4.85%
Operating Expenses $365.9M $349.8M
YoY Change 4.59% 12.28%
Operating Profit $249.2M $245.2M
YoY Change 1.67% 16.18%
Interest Expense $1.910M $832.0K
YoY Change 129.57% 170.13%
% of Operating Profit 0.77% 0.34%
Other Income/Expense, Net
YoY Change
Pretax Income $247.3M $244.3M
YoY Change 1.23% 15.95%
Income Tax $90.91M $91.00M
% Of Pretax Income 36.76% 37.25%
Net Earnings $156.4M $153.3M
YoY Change 2.02% 14.93%
Net Earnings / Revenue 8.44% 8.65%
Basic Earnings Per Share $1.17 $1.13
Diluted Earnings Per Share $1.16 $1.12
COMMON SHARES
Basic Shares Outstanding 133.6M shares 136.1M shares
Diluted Shares Outstanding 134.6M shares 137.4M shares

Balance Sheet

Concept 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $151.1M $56.30M
YoY Change 168.38% 0.54%
Cash & Equivalents $151.1M $56.32M
Short-Term Investments
Other Short-Term Assets $67.60M $62.00M
YoY Change 9.03% -15.76%
Inventory $1.366B $1.293B
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $1.589B $1.412B
YoY Change 12.54% 9.91%
LONG-TERM ASSETS
Property, Plant & Equipment $902.0M $768.9M
YoY Change 17.31% 10.89%
Goodwill $10.26M $10.26M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $19.20M $19.63M
YoY Change -2.18% -3.33%
Total Long-Term Assets $990.2M $859.8M
YoY Change 15.17% 15.97%
TOTAL ASSETS
Total Short-Term Assets $1.589B $1.412B
Total Long-Term Assets $990.2M $859.8M
Total Assets $2.579B $2.271B
YoY Change 13.54% 12.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $430.4M $452.7M
YoY Change -4.92% 16.02%
Accrued Expenses $201.1M $185.6M
YoY Change 8.32% 28.59%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $11.10M $400.0K
YoY Change 2675.0% 300.0%
Total Short-Term Liabilities $724.4M $745.6M
YoY Change -2.84% 18.54%
LONG-TERM LIABILITIES
Long-Term Debt $186.2M $8.700M
YoY Change 2040.37% 180.65%
Other Long-Term Liabilities $55.38M $52.12M
YoY Change 6.24% 4.93%
Total Long-Term Liabilities $241.6M $52.12M
YoY Change 363.49% 4.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $724.4M $745.6M
Total Long-Term Liabilities $241.6M $52.12M
Total Liabilities $1.077B $887.8M
YoY Change 21.29% 16.88%
SHAREHOLDERS EQUITY
Retained Earnings $2.391B $2.081B
YoY Change 14.91% 17.32%
Common Stock $649.1M $564.4M
YoY Change 14.99% 18.07%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.537B $1.262B
YoY Change 21.8% 28.01%
Treasury Stock Shares 36.02M shares 32.81M shares
Shareholders Equity $1.502B $1.383B
YoY Change
Total Liabilities & Shareholders Equity $2.579B $2.271B
YoY Change 13.54% 12.13%

Cashflow Statement

Concept 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income $156.4M $153.3M
YoY Change 2.02% 14.93%
Depreciation, Depletion And Amortization $34.00M $30.30M
YoY Change 12.21% 8.6%
Cash From Operating Activities $202.3M $197.1M
YoY Change 2.64% -3.67%
INVESTING ACTIVITIES
Capital Expenditures -$64.30M -$48.20M
YoY Change 33.4% 19.9%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$64.20M -$48.20M
YoY Change 33.2% 20.2%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $7.803M $76.60M
YoY Change -89.81% 22.56%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -61.50M -149.7M
YoY Change -58.92% -4.16%
NET CHANGE
Cash From Operating Activities 202.3M 197.1M
Cash From Investing Activities -64.20M -48.20M
Cash From Financing Activities -61.50M -149.7M
Net Change In Cash 76.60M -800.0K
YoY Change -9675.0% -109.64%
FREE CASH FLOW
Cash From Operating Activities $202.3M $197.1M
Capital Expenditures -$64.30M -$48.20M
Free Cash Flow $266.6M $245.3M
YoY Change 8.68% 0.2%

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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Nature Of Operations
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Nature of Business</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Tractor Supply Company (the &#8220;Company&#8221;) is the largest operator of rural lifestyle retail stores in the United States. The Company is focused on supplying the needs of recreational farmers and ranchers and those who enjoy the rural lifestyle, as well as tradesmen and small businesses. Stores are located in towns outlying major metropolitan markets and in rural communities. At </font><font style="font-family:inherit;font-size:10pt;">June&#160;25, 2016</font><font style="font-family:inherit;font-size:10pt;">, the Company operated a total of </font><font style="font-family:inherit;font-size:10pt;">1,542</font><font style="font-family:inherit;font-size:10pt;"> retail stores in </font><font style="font-family:inherit;font-size:10pt;">49</font><font style="font-family:inherit;font-size:10pt;"> states and also offered an expanded assortment of products online at </font><font style="font-family:inherit;font-size:10pt;font-style:italic;text-decoration:underline;">TractorSupply.com</font><font style="font-family:inherit;font-size:10pt;">.</font></div></div>

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