10-Q Filing

Sleep Number Corp CIK: 827187 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0000827187-20-000016`
Period End Date	20200331
Filing Date	20200501
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	snbr-20200328_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 32 Cash Flow Statement 56 Stockholders Equity 20

Balance Sheet 80 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.07M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$898.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.59M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$239.21M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $1,067 and $898, respectively	`AccountsReceivableNetCurrent`	$7.17M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $1,067 and $898, respectively	`AccountsReceivableNetCurrent`	$19.98M	USD	Point-in-time
Inventories	`InventoryNet`	$87.06M	USD	Point-in-time
Inventories	`InventoryNet`	$82.02M	USD	Point-in-time
Undesignated preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$15.34M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$13.49M	USD	Point-in-time
Undesignated preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	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`	$30.89M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$36.40M	USD	Point-in-time
Undesignated preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$372.79M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$160.37M	USD	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
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`	$197.42M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$194.71M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	27.64M	shares	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$323.77M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$327.02M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	27.96M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	27.64M	shares	Point-in-time
Goodwill and intangible assets, net	`IntangibleAssetsNetIncludingGoodwill`	$72.68M	USD	Point-in-time
Goodwill and intangible assets, net	`IntangibleAssetsNetIncludingGoodwill`	$73.23M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	27.96M	shares	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$48.01M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$49.87M	USD	Point-in-time
Total assets	`Assets`	$806.04M	USD	Point-in-time
Total assets	`Assets`	$1.01B	USD	Point-in-time
Borrowings under revolving credit facility	`LinesOfCreditCurrent`	$446.00M	USD	Point-in-time
Borrowings under revolving credit facility	`LinesOfCreditCurrent`	$231.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$134.59M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$132.94M	USD	Point-in-time
Customer prepayments	`CustomerPrepaymentsCurrent`	$34.25M	USD	Point-in-time
Customer prepayments	`CustomerPrepaymentsCurrent`	$25.82M	USD	Point-in-time
Accrued sales returns	`ContractWithCustomerRefundLiability`	$22.27M	USD	Point-in-time
Accrued sales returns	`ContractWithCustomerRefundLiability`	$19.81M	USD	Point-in-time
Accrued sales returns	`ContractWithCustomerRefundLiability`	$19.96M	USD	Point-in-time
Accrued sales returns	`ContractWithCustomerRefundLiability`	$19.91M	USD	Point-in-time
Compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$27.29M	USD	Point-in-time
Compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$40.32M	USD	Point-in-time
Taxes and withholding	`TaxesPayableCurrent`	$22.17M	USD	Point-in-time
Taxes and withholding	`TaxesPayableCurrent`	$27.49M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$60.21M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$59.56M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$53.05M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$53.07M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$795.08M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$594.77M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$9.14M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$3.81M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$298.09M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$294.55M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$70.96M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$68.80M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.17B	USD	Point-in-time
Total liabilities	`Liabilities`	$965.47M	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, 27,636 and 27,961 shares issued and outstanding, respectively	`CommonStockValue`	$280.00K	USD	Point-in-time
Common stock, $0.01 par value; 142,500 shares authorized, 27,636 and 27,961 shares issued and outstanding, respectively	`CommonStockValue`	$276.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	-	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-156.19M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-159.71M	USD	Point-in-time
Total shareholders deficit	`StockholdersEquity`	$-124.64M	USD	Point-in-time
Total shareholders deficit	`StockholdersEquity`	$-155.91M	USD	Point-in-time
Total shareholders deficit	`StockholdersEquity`	$-159.43M	USD	Point-in-time
Total shareholders deficit	`StockholdersEquity`	$-109.55M	USD	Point-in-time
Total liabilities and shareholders deficit	`LiabilitiesAndStockholdersEquity`	$806.04M	USD	Point-in-time
Total liabilities and shareholders deficit	`LiabilitiesAndStockholdersEquity`	$1.01B	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$426.44M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$472.57M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$164.21M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$170.44M	USD	1 Quarter
Gross profit	`GrossProfit`	$302.13M	USD	1 Quarter
Gross profit	`GrossProfit`	$262.23M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$186.83M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$207.74M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$31.07M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$34.32M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$10.50M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$8.38M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$249.32M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$229.53M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$52.81M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$32.71M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-2.61M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-2.34M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$50.47M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$30.10M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$4.68M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$11.33M	USD	1 Quarter
Net income	`NetIncomeLoss`	$25.42M	USD	1 Quarter
Net income	`NetIncomeLoss`	$39.14M	USD	1 Quarter
Net income per share basic (in dollars per share)	`EarningsPerShareBasic`	$0.83	USD	1 Quarter
Net income per share basic (in dollars per share)	`EarningsPerShareBasic`	$1.40	USD	1 Quarter
Weighted-average shares basic	`WeightedAverageNumberOfSharesOutstandingBasic`	30.62M	shares	1 Quarter
Weighted-average shares basic	`WeightedAverageNumberOfSharesOutstandingBasic`	27.86M	shares	1 Quarter
Net income per share diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.80	USD	1 Quarter
Net income per share diluted (in dollars per share)	`EarningsPerShareDiluted`	$1.36	USD	1 Quarter
Weighted-average shares diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	28.77M	shares	1 Quarter
Weighted-average shares diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	31.74M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$39.14M	USD	1 Quarter
Net income	`NetIncomeLoss`	$25.42M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$15.74M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$15.37M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$2.05M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$3.64M	USD	1 Quarter
Net gain on disposals and impairments of assets	`GainLossOnSalesOfAssetsAndAssetImpairmentCharges`	$22.00K	USD	1 Quarter
Net gain on disposals and impairments of assets	`GainLossOnSalesOfAssetsAndAssetImpairmentCharges`	$433.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$5.33M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$824.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-12.81M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-6.18M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-1.57M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-5.04M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$5.80M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$4.21M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-7.48M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$5.28M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$5.86M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$11.28M	USD	1 Quarter
Customer prepayments	`IncreaseDecreaseInPrepaymentsFromCustomer`	$3.45M	USD	1 Quarter
Customer prepayments	`IncreaseDecreaseInPrepaymentsFromCustomer`	$-8.43M	USD	1 Quarter
Accrued compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-13.16M	USD	1 Quarter
Accrued compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$1.75M	USD	1 Quarter
Other taxes and withholding	`IncreaseDecreaseInPropertyAndOtherTaxesPayable`	$-479.00K	USD	1 Quarter
Other taxes and withholding	`IncreaseDecreaseInPropertyAndOtherTaxesPayable`	$1.25M	USD	1 Quarter
Other accruals and liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$2.73M	USD	1 Quarter
Other accruals and liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$3.96M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$68.14M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$84.94M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.35M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$19.74M	USD	1 Quarter
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$2.57M	USD	1 Quarter
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$25.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.33M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-17.17M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$55.66M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$41.45M	USD	1 Quarter
Net increase in short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$201.17M	USD	1 Quarter
Net increase in short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$2.96M	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$2.84M	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$3.28M	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$1.01M	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$3.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-50.88M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$163.00M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$237.62M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$84.00K	USD	1 Quarter
Cash and cash equivalents, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.61M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$239.21M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.70M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.59M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.70M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.59M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$239.21M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.61M	USD	Point-in-time

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Beginning balance (in shares)	`CommonStockSharesOutstanding`	27.64M	shares	Point-in-time
Beginning balance (in shares)	`CommonStockSharesOutstanding`	27.96M	shares	Point-in-time
Beginning balance	`StockholdersEquity`	$-124.64M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$-155.91M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$-159.43M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$-109.55M	USD	Point-in-time
Net income	`NetIncomeLoss`	$39.14M	USD	1 Quarter
Net income	`NetIncomeLoss`	$25.42M	USD	1 Quarter
Exercise of common stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$3.28M	USD	1 Quarter
Exercise of common stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$2.84M	USD	1 Quarter
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$2.05M	USD	1 Quarter
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$3.64M	USD	1 Quarter
Repurchases of common stock	`StockRepurchasedDuringPeriodValue`	$40.95M	USD	1 Quarter
Repurchases of common stock	`StockRepurchasedDuringPeriodValue`	$46.98M	USD	1 Quarter
Ending balance (in shares)	`CommonStockSharesOutstanding`	27.64M	shares	Point-in-time
Ending balance (in shares)	`CommonStockSharesOutstanding`	27.96M	shares	Point-in-time
Ending balance	`StockholdersEquity`	$-159.43M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$-124.64M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$-155.91M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$-109.55M	USD	Point-in-time

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