10-Q Filing

Sleep Number Corp CIK: 827187 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0000827187-18-000020`
Period End Date	20180331
Filing Date	20180503
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	snbr-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 71 Income Statement 32 Cash Flow Statement 56 Stockholders Equity 13

Balance Sheet 71 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$548.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.65M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.33M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $548 and $714, respectively	`AccountsReceivableNetCurrent`	$21.80M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $548 and $714, respectively	`AccountsReceivableNetCurrent`	$19.31M	USD	Point-in-time
Inventories	`InventoryNet`	$84.30M	USD	Point-in-time
Inventories	`InventoryNet`	$86.78M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$17.57M	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`	$9.34M	USD	Point-in-time
Undesignated preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Undesignated preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$22.13M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$27.66M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$142.38M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$152.49M	USD	Point-in-time
Undesignated preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Undesignated preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	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`	$204.33M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	142.50M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$208.65M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	142.50M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	38.81M	shares	Point-in-time
Goodwill and intangible assets, net	`IntangibleAssetsNetIncludingGoodwill`	$77.59M	USD	Point-in-time
Goodwill and intangible assets, net	`IntangibleAssetsNetIncludingGoodwill`	$77.04M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	36.94M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$2.62M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	36.94M	shares	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$1.44M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	38.81M	shares	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$33.51M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$30.48M	USD	Point-in-time
Total assets	`Assets`	$471.83M	USD	Point-in-time
Total assets	`Assets`	$458.70M	USD	Point-in-time
Borrowings under revolving credit facility	`LinesOfCreditCurrent`	$24.50M	USD	Point-in-time
Borrowings under revolving credit facility	`LinesOfCreditCurrent`	$75.80M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$129.19M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$116.14M	USD	Point-in-time
Customer prepayments	`CustomerAdvancesCurrent`	$27.77M	USD	Point-in-time
Customer prepayments	`CustomerAdvancesCurrent`	$30.18M	USD	Point-in-time
Accrued sales returns	`SalesReturnLiability`	$18.20M	USD	Point-in-time
Accrued sales returns	`SalesReturnLiability`	$15.22M	USD	Point-in-time
Accrued sales returns	`SalesReturnLiability`	$19.27M	USD	Point-in-time
Accrued sales returns	`SalesReturnLiability`	$19.02M	USD	Point-in-time
Compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$27.31M	USD	Point-in-time
Compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$34.60M	USD	Point-in-time
Taxes and withholding	`TaxesPayableCurrent`	$30.66M	USD	Point-in-time
Taxes and withholding	`TaxesPayableCurrent`	$24.23M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$46.57M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$46.82M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$306.39M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$345.67M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$77.04M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$76.29M	USD	Point-in-time
Total liabilities	`Liabilities`	$382.68M	USD	Point-in-time
Total liabilities	`Liabilities`	$422.70M	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, 36,943 and 38,813 shares issued and outstanding, respectively	`CommonStockValue`	$369.00K	USD	Point-in-time
Common stock, $0.01 par value; 142,500 shares authorized, 36,943 and 38,813 shares issued and outstanding, respectively	`CommonStockValue`	$388.00K	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`	$88.77M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$35.63M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$89.16M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$36.00M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$471.83M	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$458.70M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$388.63M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$393.90M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$151.16M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$147.44M	USD	1 Quarter
Gross profit	`GrossProfit`	$237.48M	USD	1 Quarter
Gross profit	`GrossProfit`	$246.46M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$169.27M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$171.92M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$33.77M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$31.73M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$7.60M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$6.92M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$210.63M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$210.58M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$35.83M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$26.90M	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-138.00K	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-525.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$26.38M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$35.69M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$5.83M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$11.23M	USD	1 Quarter
Net income	`NetIncomeLoss`	$20.55M	USD	1 Quarter
Net income	`NetIncomeLoss`	$24.46M	USD	1 Quarter
Net income per share basic	`EarningsPerShareBasic`	$0.57	USD	1 Quarter
Net income per share basic	`EarningsPerShareBasic`	$0.54	USD	1 Quarter
Weighted-average shares basic	`WeightedAverageNumberOfSharesOutstandingBasic`	42.75M	shares	1 Quarter
Weighted-average shares basic	`WeightedAverageNumberOfSharesOutstandingBasic`	38.24M	shares	1 Quarter
Net income per share diluted	`EarningsPerShareDiluted`	$0.56	USD	1 Quarter
Net income per share diluted	`EarningsPerShareDiluted`	$0.52	USD	1 Quarter
Weighted-average shares diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	39.35M	shares	1 Quarter
Weighted-average shares diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	43.71M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$24.46M	USD	1 Quarter
Net income	`NetIncomeLoss`	$20.55M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$15.68M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$16.20M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$3.08M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$3.70M	USD	1 Quarter
Net gain on disposals and impairments of assets	`GainLossOnSalesOfAssetsAndAssetImpairmentCharges`	-	USD	1 Quarter
Net gain on disposals and impairments of assets	`GainLossOnSalesOfAssetsAndAssetImpairmentCharges`	$70.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$5.66M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$1.18M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.49M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.48M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$2.48M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-8.17M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$4.76M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$5.54M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-2.88M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-13.89M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$123.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.39M	USD	1 Quarter
Customer prepayments	`IncreaseDecreaseInCustomerAdvances`	$2.41M	USD	1 Quarter
Customer prepayments	`IncreaseDecreaseInCustomerAdvances`	$4.44M	USD	1 Quarter
Accrued compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$11.69M	USD	1 Quarter
Accrued compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-7.57M	USD	1 Quarter
Other taxes and withholding	`IncreaseDecreaseInPropertyAndOtherTaxesPayable`	$-903.00K	USD	1 Quarter
Other taxes and withholding	`IncreaseDecreaseInPropertyAndOtherTaxesPayable`	$1.66M	USD	1 Quarter
Other accruals and liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$4.93M	USD	1 Quarter
Other accruals and liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-1.49M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$49.26M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$86.87M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$13.21M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$8.80M	USD	1 Quarter
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	1 Quarter
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$70.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-8.73M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-13.21M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$77.65M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$54.79M	USD	1 Quarter
Net increase in short-term borrowings	`ProceedsFromPaymentsForOtherFinancingActivities`	$35.96M	USD	1 Quarter
Net increase in short-term borrowings	`ProceedsFromPaymentsForOtherFinancingActivities`	$2.37M	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$460.00K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$857.00K	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	-	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$1.01M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-41.84M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-51.97M	USD	1 Quarter
Net (decrease) increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$21.69M	USD	1 Quarter
Net (decrease) increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-1.32M	USD	1 Quarter
Cash, cash equivalents and restricted cash, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.33M	USD	Point-in-time
Cash, cash equivalents and restricted cash, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$36.45M	USD	Point-in-time
Cash, cash equivalents and restricted cash, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.65M	USD	Point-in-time
Cash, cash equivalents and restricted cash, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.76M	USD	Point-in-time
Cash, cash equivalents and restricted cash, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.65M	USD	Point-in-time
Cash, cash equivalents and restricted cash, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.76M	USD	Point-in-time
Cash, cash equivalents and restricted cash, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$36.45M	USD	Point-in-time
Cash, cash equivalents and restricted cash, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.33M	USD	Point-in-time

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Balance (in shares)	`CommonStockSharesOutstanding`	36.94M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	38.81M	shares	Point-in-time
Balance	`StockholdersEquity`	$89.16M	USD	Point-in-time
Balance	`StockholdersEquity`	$36.00M	USD	Point-in-time
Net income	`NetIncomeLoss`	$24.46M	USD	1 Quarter
Net income	`NetIncomeLoss`	$20.55M	USD	1 Quarter
Exercise of common stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$857.00K	USD	1 Quarter
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$3.08M	USD	1 Quarter
Repurchases of common stock	`StockRepurchasedDuringPeriodValue`	$77.65M	USD	1 Quarter
Balance (in shares)	`CommonStockSharesOutstanding`	36.94M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	38.81M	shares	Point-in-time
Balance	`StockholdersEquity`	$89.16M	USD	Point-in-time
Balance	`StockholdersEquity`	$36.00M	USD	Point-in-time

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