10-Q Filing

Sleep Number Corp CIK: 827187 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0000827187-21-000022`
Period End Date	20210331
Filing Date	20210507
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	snbr-20210403_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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.24M	USD	Point-in-time
Allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.03M	USD	Point-in-time
Allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.05M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.24M	USD	Point-in-time
Accounts receivable, net of allowances of $1,028 and $1,046, respectively	`AccountsReceivableNetCurrent`	$31.87M	USD	Point-in-time
Accounts receivable, net of allowances of $1,028 and $1,046, respectively	`AccountsReceivableNetCurrent`	$25.92M	USD	Point-in-time
Inventories	`InventoryNet`	$82.31M	USD	Point-in-time
Inventories	`InventoryNet`	$81.36M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$20.84M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$27.19M	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
Undesignated preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$43.49M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$33.84M	USD	Point-in-time
Undesignated preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Undesignated preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$181.80M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$171.50M	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`	$182.11M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$175.22M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	24.46M	shares	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$314.23M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$329.71M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	25.39M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	25.39M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	24.46M	shares	Point-in-time
Goodwill and intangible assets, net	`IntangibleAssetsNetIncludingGoodwill`	$72.27M	USD	Point-in-time
Goodwill and intangible assets, net	`IntangibleAssetsNetIncludingGoodwill`	$72.87M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$56.01M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$66.61M	USD	Point-in-time
Total assets	`Assets`	$800.14M	USD	Point-in-time
Total assets	`Assets`	$822.21M	USD	Point-in-time
Borrowings under credit facility	`DebtCurrent`	$244.20M	USD	Point-in-time
Borrowings under credit facility	`DebtCurrent`	$314.90M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$91.90M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$122.10M	USD	Point-in-time
Customer prepayments	`CustomerPrepaymentsCurrent`	$92.57M	USD	Point-in-time
Customer prepayments	`CustomerPrepaymentsCurrent`	$72.02M	USD	Point-in-time
Accrued sales returns	`ContractWithCustomerRefundLiability`	$24.61M	USD	Point-in-time
Accrued sales returns	`ContractWithCustomerRefundLiability`	$19.81M	USD	Point-in-time
Accrued sales returns	`ContractWithCustomerRefundLiability`	$22.27M	USD	Point-in-time
Accrued sales returns	`ContractWithCustomerRefundLiability`	$24.77M	USD	Point-in-time
Compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$42.19M	USD	Point-in-time
Compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$76.79M	USD	Point-in-time
Taxes and withholding	`TaxesPayableCurrent`	$23.34M	USD	Point-in-time
Taxes and withholding	`TaxesPayableCurrent`	$39.10M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$62.08M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$64.08M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$57.83M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$60.86M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$757.37M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$655.94M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$1.76M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$242.00K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$298.48M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$283.08M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$84.84M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$97.26M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.02B	USD	Point-in-time
Total liabilities	`Liabilities`	$1.15B	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, 24,464 and 25,390 shares issued and outstanding, respectively	`CommonStockValue`	$245.00K	USD	Point-in-time
Common stock, $0.01 par value; 142,500 shares authorized, 24,464 and 25,390 shares issued and outstanding, respectively	`CommonStockValue`	$254.00K	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`	$-224.23M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-332.89M	USD	Point-in-time
Total shareholders deficit	`StockholdersEquity`	$-159.43M	USD	Point-in-time
Total shareholders deficit	`StockholdersEquity`	$-155.91M	USD	Point-in-time
Total shareholders deficit	`StockholdersEquity`	$-332.65M	USD	Point-in-time
Total shareholders deficit	`StockholdersEquity`	$-223.98M	USD	Point-in-time
Total liabilities and shareholders deficit	`LiabilitiesAndStockholdersEquity`	$822.21M	USD	Point-in-time
Total liabilities and shareholders deficit	`LiabilitiesAndStockholdersEquity`	$800.14M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$472.57M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$568.26M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$170.44M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$212.34M	USD	1 Quarter
Gross profit	`GrossProfit`	$302.13M	USD	1 Quarter
Gross profit	`GrossProfit`	$355.92M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$207.74M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$223.62M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$31.07M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$42.59M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$10.50M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$13.29M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$249.32M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$279.50M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$76.42M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$52.81M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-2.34M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-977.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$50.47M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$75.45M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$8.81M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$11.33M	USD	1 Quarter
Net income	`NetIncomeLoss`	$66.63M	USD	1 Quarter
Net income	`NetIncomeLoss`	$39.14M	USD	1 Quarter
Net income per share basic (in dollars per share)	`EarningsPerShareBasic`	$2.63	USD	1 Quarter
Net income per share basic (in dollars per share)	`EarningsPerShareBasic`	$1.40	USD	1 Quarter
Weighted-average shares basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	27.86M	shares	1 Quarter
Weighted-average shares basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	25.38M	shares	1 Quarter
Net income per share diluted (in dollars per share)	`EarningsPerShareDiluted`	$2.51	USD	1 Quarter
Net income per share diluted (in dollars per share)	`EarningsPerShareDiluted`	$1.36	USD	1 Quarter
Weighted-average shares diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.54M	shares	1 Quarter
Weighted-average shares diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	28.77M	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`	$66.63M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$14.64M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$15.37M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$6.42M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$2.05M	USD	1 Quarter
Net loss (gain) on disposals and impairments of assets	`GainLossOnSalesOfAssetsAndAssetImpairmentCharges`	$22.00K	USD	1 Quarter
Net loss (gain) on disposals and impairments of assets	`GainLossOnSalesOfAssetsAndAssetImpairmentCharges`	$-78.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$1.51M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$5.33M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-12.81M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-5.95M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$946.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-5.04M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$5.80M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$6.85M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-7.48M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$3.11M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$12.39M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$11.28M	USD	1 Quarter
Customer prepayments	`IncreaseDecreaseInPrepaymentsFromCustomer`	$-8.43M	USD	1 Quarter
Customer prepayments	`IncreaseDecreaseInPrepaymentsFromCustomer`	$20.55M	USD	1 Quarter
Accrued compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-34.60M	USD	1 Quarter
Accrued compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-13.16M	USD	1 Quarter
Other taxes and withholding	`IncreaseDecreaseInPropertyAndOtherTaxesPayable`	$8.91M	USD	1 Quarter
Other taxes and withholding	`IncreaseDecreaseInPropertyAndOtherTaxesPayable`	$-479.00K	USD	1 Quarter
Other accruals and liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$6.33M	USD	1 Quarter
Other accruals and liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$2.73M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$111.60M	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`	$11.55M	USD	1 Quarter
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$25.00K	USD	1 Quarter
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$12.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.53M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.33M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$178.61M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$41.45M	USD	1 Quarter
Net increase in short-term borrowings	`IncreaseDecreaseInShortTermDebtFinancingActivities`	$201.17M	USD	1 Quarter
Net increase in short-term borrowings	`IncreaseDecreaseInShortTermDebtFinancingActivities`	$74.09M	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$3.28M	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$2.46M	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$3.00K	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$3.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$163.00M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-102.07M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$237.62M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.00M	USD	1 Quarter
Cash and cash equivalents, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.24M	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`	$1.59M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.24M	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`	$4.24M	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`	$2.24M	USD	Point-in-time

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Beginning balance (in shares)	`CommonStockSharesOutstanding`	25.39M	shares	Point-in-time
Beginning balance (in shares)	`CommonStockSharesOutstanding`	24.46M	shares	Point-in-time
Beginning balance	`StockholdersEquity`	$-159.43M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$-155.91M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$-332.65M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$-223.98M	USD	Point-in-time
Net income (loss)	`NetIncomeLoss`	$39.14M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$66.63M	USD	1 Quarter
Exercise of common stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$3.28M	USD	1 Quarter
Exercise of common stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$2.46M	USD	1 Quarter
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$6.42M	USD	1 Quarter
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$2.05M	USD	1 Quarter
Repurchases of common stock	`StockRepurchasedDuringPeriodValue`	$184.18M	USD	1 Quarter
Repurchases of common stock	`StockRepurchasedDuringPeriodValue`	$40.95M	USD	1 Quarter
Ending balance (in shares)	`CommonStockSharesOutstanding`	25.39M	shares	Point-in-time
Ending balance (in shares)	`CommonStockSharesOutstanding`	24.46M	shares	Point-in-time
Ending balance	`StockholdersEquity`	$-332.65M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$-159.43M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$-155.91M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$-223.98M	USD	Point-in-time

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