10-Q Filing

Sleep Number Corp CIK: 827187 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0000827187-17-000021`
Period End Date	20170331
Filing Date	20170501
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	scss-20170401.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 32 Cash Flow Statement 64 Stockholders Equity 13 Comprehensive Income 6

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.61M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.99M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$967.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$29.52M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$884.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$36.45M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $967 and $884, respectively	`AccountsReceivableNetCurrent`	$18.23M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $967 and $884, respectively	`AccountsReceivableNetCurrent`	$19.70M	USD	Point-in-time
Inventories	`InventoryNet`	$66.86M	USD	Point-in-time
Inventories	`InventoryNet`	$75.03M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$10.67M	USD	Point-in-time
Undesignated preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Undesignated preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$8.71M	USD	Point-in-time
Undesignated preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$16.81M	USD	Point-in-time
Undesignated preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$23.28M	USD	Point-in-time
Undesignated preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$149.02M	USD	Point-in-time
Undesignated preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$138.33M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$208.37M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	142.50M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	142.50M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$207.19M	USD	Point-in-time
Goodwill and intangible assets, net	`IntangibleAssetsNetIncludingGoodwill`	$80.82M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	41.68M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	43.57M	shares	Point-in-time
Goodwill and intangible assets, net	`IntangibleAssetsNetIncludingGoodwill`	$79.22M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	-	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	43.57M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	41.68M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$4.67M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$27.31M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$24.99M	USD	Point-in-time
Total assets	`Assets`	$462.75M	USD	Point-in-time
Total assets	`Assets`	$457.17M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$105.38M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$106.66M	USD	Point-in-time
Customer prepayments	`CustomerAdvancesCurrent`	$26.21M	USD	Point-in-time
Customer prepayments	`CustomerAdvancesCurrent`	$30.65M	USD	Point-in-time
Accrued sales returns	`SalesReturnLiability`	$20.56M	USD	Point-in-time
Accrued sales returns	`SalesReturnLiability`	$18.20M	USD	Point-in-time
Accrued sales returns	`SalesReturnLiability`	$22.91M	USD	Point-in-time
Accrued sales returns	`SalesReturnLiability`	$15.22M	USD	Point-in-time
Compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$31.06M	USD	Point-in-time
Compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$19.45M	USD	Point-in-time
Taxes and withholding	`TaxesPayableCurrent`	$23.43M	USD	Point-in-time
Taxes and withholding	`TaxesPayableCurrent`	$28.07M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$37.55M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$35.63M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$225.32M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$252.19M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	-	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$996.00K	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$71.53M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$75.41M	USD	Point-in-time
Total liabilities	`Liabilities`	$296.85M	USD	Point-in-time
Total liabilities	`Liabilities`	$328.59M	USD	Point-in-time
Undesignated preferred stock; 5,000 shares authorized, no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Undesignated preferred stock; 5,000 shares authorized, no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.01 par value; 142,500 shares authorized, 41,676 and 43,569 shares issued and outstanding, respectively	`CommonStockValue`	$417.00K	USD	Point-in-time
Common stock, $0.01 par value; 142,500 shares authorized, 41,676 and 43,569 shares issued and outstanding, respectively	`CommonStockValue`	$436.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	-	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$159.88M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$133.73M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$160.32M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$134.15M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$457.17M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$462.75M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$393.90M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$352.98M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$147.44M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$143.91M	USD	1 Quarter
Gross profit	`GrossProfit`	$209.07M	USD	1 Quarter
Gross profit	`GrossProfit`	$246.46M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$169.27M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$150.67M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$33.77M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$30.91M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$7.60M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$7.60M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$210.63M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$189.18M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$19.90M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$35.83M	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-138.00K	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-97.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$35.69M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$19.80M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$11.23M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$6.83M	USD	1 Quarter
Net income	`NetIncomeLoss`	$24.46M	USD	1 Quarter
Net income	`NetIncomeLoss`	$12.97M	USD	1 Quarter
Net income per share basic	`EarningsPerShareBasic`	$0.27	USD	1 Quarter
Net income per share basic	`EarningsPerShareBasic`	$0.57	USD	1 Quarter
Weighted-average shares basic	`WeightedAverageNumberOfSharesOutstandingBasic`	42.75M	shares	1 Quarter
Weighted-average shares basic	`WeightedAverageNumberOfSharesOutstandingBasic`	48.10M	shares	1 Quarter
Net income per share diluted	`EarningsPerShareDiluted`	$0.27	USD	1 Quarter
Net income per share diluted	`EarningsPerShareDiluted`	$0.56	USD	1 Quarter
Weighted-average shares diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	48.84M	shares	1 Quarter
Weighted-average shares diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	43.71M	shares	1 Quarter

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$12.97M	USD	1 Quarter
Net income	`NetIncomeLoss`	$24.46M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$13.85M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$16.20M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$3.77M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$3.70M	USD	1 Quarter
Net loss on disposals and impairments of assets	`GainLossOnSalesOfAssetsAndAssetImpairmentCharges`	-	USD	1 Quarter
Net loss on disposals and impairments of assets	`GainLossOnSalesOfAssetsAndAssetImpairmentCharges`	$-1.00K	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	-	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$26.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$1.62M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$5.66M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-8.82M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.48M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-5.63M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-8.17M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$5.54M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$16.56M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-2.88M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.27M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.39M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-495.00K	USD	1 Quarter
Customer prepayments	`IncreaseDecreaseInCustomerAdvances`	$4.44M	USD	1 Quarter
Customer prepayments	`IncreaseDecreaseInCustomerAdvances`	$-20.54M	USD	1 Quarter
Accrued compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$10.68M	USD	1 Quarter
Accrued compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$11.69M	USD	1 Quarter
Other taxes and withholding	`IncreaseDecreaseInPropertyAndOtherTaxesPayable`	$7.49M	USD	1 Quarter
Other taxes and withholding	`IncreaseDecreaseInPropertyAndOtherTaxesPayable`	$-903.00K	USD	1 Quarter
Other accruals and liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$4.92M	USD	1 Quarter
Other accruals and liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$4.93M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$63.98M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$86.87M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$12.29M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$13.21M	USD	1 Quarter
Proceeds from marketable debt securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	-	USD	1 Quarter
Proceeds from marketable debt securities	`ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities`	$15.09M	USD	1 Quarter
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$14.00K	USD	1 Quarter
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	1 Quarter
Decrease in restricted cash	`IncreaseDecreaseInRestrictedCash`	$-3.15M	USD	1 Quarter
Decrease in restricted cash	`IncreaseDecreaseInRestrictedCash`	-	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-10.06M	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$2.81M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$51.24M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$54.79M	USD	1 Quarter
Net increase (decrease) in short-term borrowings	`ProceedsFromPaymentsForOtherFinancingActivities`	$2.37M	USD	1 Quarter
Net increase (decrease) in short-term borrowings	`ProceedsFromPaymentsForOtherFinancingActivities`	$-6.66M	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$6.00K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$460.00K	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$26.00K	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	-	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$401.00K	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	-	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-58.27M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-51.97M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$24.84M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$8.53M	USD	1 Quarter
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$36.45M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.61M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$20.99M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$29.52M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashAndCashEquivalentsAtCarryingValue`	$20.99M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashAndCashEquivalentsAtCarryingValue`	$29.52M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashAndCashEquivalentsAtCarryingValue`	$11.61M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashAndCashEquivalentsAtCarryingValue`	$36.45M	USD	Point-in-time

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Balance (in shares)	`CommonStockSharesOutstanding`	43.57M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	41.68M	shares	Point-in-time
Balance	`StockholdersEquity`	$160.32M	USD	Point-in-time
Balance	`StockholdersEquity`	$134.15M	USD	Point-in-time
Net income	`NetIncomeLoss`	$12.97M	USD	1 Quarter
Net income	`NetIncomeLoss`	$24.46M	USD	1 Quarter
Exercise of common stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$460.00K	USD	1 Quarter
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$3.70M	USD	1 Quarter
Repurchases of common stock	`StockRepurchasedDuringPeriodValue`	$54.79M	USD	1 Quarter
Balance (in shares)	`CommonStockSharesOutstanding`	43.57M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	41.68M	shares	Point-in-time
Balance	`StockholdersEquity`	$160.32M	USD	Point-in-time
Balance	`StockholdersEquity`	$134.15M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$12.97M	USD	1 Quarter
Net income	`NetIncomeLoss`	$24.46M	USD	1 Quarter
Other comprehensive income unrealized gain on available-for-sale marketable debt securities, net of income tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$14.00K	USD	1 Quarter
Other comprehensive income unrealized gain on available-for-sale marketable debt securities, net of income tax	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	-	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$12.98M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$24.46M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.