10-Q Filing

Sleep Number Corp CIK: 827187 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0000827187-22-000038`
Period End Date	20220331
Filing Date	20220429
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	snbr-20220402_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`	$1.56M	USD	Point-in-time
Allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.05M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.39M	USD	Point-in-time
Allowances	`AllowanceForDoubtfulAccountsReceivableCurrent`	$924.00K	USD	Point-in-time
Accounts receivable, net of allowances of $1,047 and $924, respectively	`AccountsReceivableNetCurrent`	$24.50M	USD	Point-in-time
Accounts receivable, net of allowances of $1,047 and $924, respectively	`AccountsReceivableNetCurrent`	$25.72M	USD	Point-in-time
Inventories	`InventoryNet`	$103.21M	USD	Point-in-time
Inventories	`InventoryNet`	$105.64M	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`	$22.00M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$18.95M	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`	$40.62M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$54.92M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$191.90M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$207.62M	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
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	142.50M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$197.64M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	142.50M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$195.13M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$374.65M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	22.23M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	22.68M	shares	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$371.13M	USD	Point-in-time
Goodwill and intangible assets, net	`IntangibleAssetsNetIncludingGoodwill`	$70.47M	USD	Point-in-time
Goodwill and intangible assets, net	`IntangibleAssetsNetIncludingGoodwill`	$69.87M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	22.68M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	22.23M	shares	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$78.53M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$75.19M	USD	Point-in-time
Total assets	`Assets`	$912.59M	USD	Point-in-time
Total assets	`Assets`	$919.54M	USD	Point-in-time
Borrowings under revolving credit facility	`DebtCurrent`	$382.50M	USD	Point-in-time
Borrowings under revolving credit facility	`DebtCurrent`	$413.20M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$162.55M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$177.03M	USD	Point-in-time
Customer prepayments	`CustomerPrepaymentsCurrent`	$129.50M	USD	Point-in-time
Customer prepayments	`CustomerPrepaymentsCurrent`	$142.00M	USD	Point-in-time
Accrued sales returns	`ContractWithCustomerRefundLiability`	$20.28M	USD	Point-in-time
Accrued sales returns	`ContractWithCustomerRefundLiability`	$24.77M	USD	Point-in-time
Accrued sales returns	`ContractWithCustomerRefundLiability`	$24.61M	USD	Point-in-time
Accrued sales returns	`ContractWithCustomerRefundLiability`	$22.37M	USD	Point-in-time
Compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$25.70M	USD	Point-in-time
Compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$51.24M	USD	Point-in-time
Taxes and withholding	`TaxesPayableCurrent`	$26.29M	USD	Point-in-time
Taxes and withholding	`TaxesPayableCurrent`	$22.09M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$72.36M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$74.05M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$64.18M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$59.39M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$937.94M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$906.78M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$688.00K	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$312.00K	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$336.19M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$338.53M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$100.83M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$105.02M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.38B	USD	Point-in-time
Total liabilities	`Liabilities`	$1.34B	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, 22,232 and 22,683 shares issued and outstanding, respectively	`CommonStockValue`	$227.00K	USD	Point-in-time
Common stock, $0.01 par value; 142,500 shares authorized, 22,232 and 22,683 shares issued and outstanding, respectively	`CommonStockValue`	$222.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$3.97M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-429.15M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-469.44M	USD	Point-in-time
Total shareholders deficit	`StockholdersEquity`	$-332.65M	USD	Point-in-time
Total shareholders deficit	`StockholdersEquity`	$-424.95M	USD	Point-in-time
Total shareholders deficit	`StockholdersEquity`	$-469.21M	USD	Point-in-time
Total shareholders deficit	`StockholdersEquity`	$-223.98M	USD	Point-in-time
Total liabilities and shareholders deficit	`LiabilitiesAndStockholdersEquity`	$919.54M	USD	Point-in-time
Total liabilities and shareholders deficit	`LiabilitiesAndStockholdersEquity`	$912.59M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$568.26M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$527.13M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$212.34M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$224.83M	USD	1 Quarter
Gross profit	`GrossProfit`	$355.92M	USD	1 Quarter
Gross profit	`GrossProfit`	$302.30M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$240.26M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$223.62M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$42.59M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$41.32M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$16.30M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$13.29M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$279.50M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$297.88M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$4.42M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$76.42M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-977.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-2.13M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.29M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$75.45M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$214.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$8.81M	USD	1 Quarter
Net income	`NetIncomeLoss`	$66.63M	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.07M	USD	1 Quarter
Net income per share basic (in dollars per share)	`EarningsPerShareBasic`	$0.09	USD	1 Quarter
Net income per share basic (in dollars per share)	`EarningsPerShareBasic`	$2.63	USD	1 Quarter
Weighted-average shares basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	22.76M	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`	$0.09	USD	1 Quarter
Net income per share diluted (in dollars per share)	`EarningsPerShareDiluted`	$2.51	USD	1 Quarter
Weighted-average shares diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	23.59M	shares	1 Quarter
Weighted-average shares diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.54M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$2.07M	USD	1 Quarter
Net income	`NetIncomeLoss`	$66.63M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$15.87M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$14.64M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$4.13M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$6.42M	USD	1 Quarter
Net loss on disposals and impairments of assets	`GainLossOnSalesOfAssetsAndAssetImpairmentCharges`	$-93.00K	USD	1 Quarter
Net loss on disposals and impairments of assets	`GainLossOnSalesOfAssetsAndAssetImpairmentCharges`	$-78.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-376.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$1.51M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-5.95M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.22M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$946.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-2.43M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$1.10M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$6.85M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$3.11M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-10.88M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.07M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$12.39M	USD	1 Quarter
Customer prepayments	`IncreaseDecreaseInPrepaymentsFromCustomer`	$20.55M	USD	1 Quarter
Customer prepayments	`IncreaseDecreaseInPrepaymentsFromCustomer`	$12.51M	USD	1 Quarter
Accrued compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-34.60M	USD	1 Quarter
Accrued compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-25.35M	USD	1 Quarter
Other taxes and withholding	`IncreaseDecreaseInPropertyAndOtherTaxesPayable`	$8.91M	USD	1 Quarter
Other taxes and withholding	`IncreaseDecreaseInPropertyAndOtherTaxesPayable`	$3.10M	USD	1 Quarter
Other accruals and liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-5.20M	USD	1 Quarter
Other accruals and liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$6.33M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$111.60M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$24.56M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$11.55M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$19.60M	USD	1 Quarter
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$10.00K	USD	1 Quarter
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$12.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-19.59M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.53M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$178.61M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$51.00M	USD	1 Quarter
Net increase in short-term borrowings	`IncreaseDecreaseInShortTermDebtFinancingActivities`	$44.71M	USD	1 Quarter
Net increase in short-term borrowings	`IncreaseDecreaseInShortTermDebtFinancingActivities`	$74.09M	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$2.46M	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$531.00K	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$3.00K	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$42.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-102.07M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-5.80M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-833.00K	USD	1 Quarter
Net decrease 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`	$2.39M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.56M	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`	$1.56M	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`	$2.39M	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`	22.68M	shares	Point-in-time
Beginning balance (in shares)	`CommonStockSharesOutstanding`	22.23M	shares	Point-in-time
Beginning balance	`StockholdersEquity`	$-332.65M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$-424.95M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$-469.21M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$-223.98M	USD	Point-in-time
Net income	`NetIncomeLoss`	$2.07M	USD	1 Quarter
Net income	`NetIncomeLoss`	$66.63M	USD	1 Quarter
Exercise of common stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$531.00K	USD	1 Quarter
Exercise of common stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$2.46M	USD	1 Quarter
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$4.13M	USD	1 Quarter
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$6.42M	USD	1 Quarter
Repurchases of common stock	`StockRepurchasedDuringPeriodValue`	$184.18M	USD	1 Quarter
Repurchases of common stock	`StockRepurchasedDuringPeriodValue`	$51.00M	USD	1 Quarter
Ending balance (in shares)	`CommonStockSharesOutstanding`	22.68M	shares	Point-in-time
Ending balance (in shares)	`CommonStockSharesOutstanding`	22.23M	shares	Point-in-time
Ending balance	`StockholdersEquity`	$-469.21M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$-332.65M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$-424.95M	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.