10-Q Filing

Sprouts Farmers Market, Inc. CIK: 1575515 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001193125-15-177151`
Period End Date	20150331
Filing Date	20150507
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	sfm-20150329.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 77 Income Statement 35 Cash Flow Statement 69 Stockholders Equity 16

Balance Sheet 77 line items

Line Item	Tag	Value	Unit	Period
Undesignated preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Undesignated preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Undesignated preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Undesignated preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$130.51M	USD	Point-in-time
Undesignated preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$149.05M	USD	Point-in-time
Undesignated preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$77.65M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$177.72M	USD	Point-in-time
Accounts receivable, net	`ReceivablesNetCurrent`	$14.09M	USD	Point-in-time
Undesignated preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Undesignated preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable, net	`ReceivablesNetCurrent`	$26.33M	USD	Point-in-time
Inventories	`InventoryNet`	$142.79M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventories	`InventoryNet`	$148.75M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$11.15M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$15.25M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	152.92M	shares	Point-in-time
Deferred income tax asset	`DeferredTaxAssetsLiabilitiesNetCurrent`	$33.93M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	151.83M	shares	Point-in-time
Deferred income tax asset	`DeferredTaxAssetsLiabilitiesNetCurrent`	$35.58M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	152.92M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	151.83M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$334.13M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$401.98M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentNet`	$454.72M	USD	Point-in-time
Property and equipment	`PropertyPlantAndEquipmentNet`	$454.89M	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$194.18M	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$193.85M	USD	Point-in-time
Goodwill	`Goodwill`	$368.08M	USD	Point-in-time
Goodwill	`Goodwill`	$368.08M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$24.02M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$17.80M	USD	Point-in-time
Total assets	`Assets`	$1.44B	USD	Point-in-time
Total assets	`Assets`	$1.37B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$112.88M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$149.50M	USD	Point-in-time
Accrued salaries and benefits	`EmployeeRelatedLiabilitiesCurrent`	$29.69M	USD	Point-in-time
Accrued salaries and benefits	`EmployeeRelatedLiabilitiesCurrent`	$24.63M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$43.37M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$41.39M	USD	Point-in-time
Current portion of capital and financing lease obligations	`CapitalLeaseObligationsCurrent`	$29.14M	USD	Point-in-time
Current portion of capital and financing lease obligations	`CapitalLeaseObligationsCurrent`	$4.27M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$7.75M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$7.75M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$220.84M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$229.52M	USD	Point-in-time
Long-term capital and financing lease obligations	`CapitalLeaseObligationsNoncurrent`	$121.56M	USD	Point-in-time
Long-term capital and financing lease obligations	`CapitalLeaseObligationsNoncurrent`	$120.41M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$247.10M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$248.61M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$87.05M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$74.07M	USD	Point-in-time
Deferred income tax liability	`DeferredTaxLiabilitiesNoncurrent`	$18.61M	USD	Point-in-time
Deferred income tax liability	`DeferredTaxLiabilitiesNoncurrent`	$18.60M	USD	Point-in-time
Total liabilities	`Liabilities`	$683.68M	USD	Point-in-time
Total liabilities	`Liabilities`	$702.69M	USD	Point-in-time
Commitments and contingencies (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Undesignated preferred stock; $0.001 par value; 10,000,000 shares authorized, no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Undesignated preferred stock; $0.001 par value; 10,000,000 shares authorized, no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value; 200,000,000 shares authorized, 152,915,478 and 151,833,334 shares issued and outstanding, March 29, 2015 and December 28, 2014, respectively	`CommonStockValue`	$152.00K	USD	Point-in-time
Common stock, $0.001 par value; 200,000,000 shares authorized, 152,915,478 and 151,833,334 shares issued and outstanding, March 29, 2015 and December 28, 2014, respectively	`CommonStockValue`	$153.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$560.16M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$543.05M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$142.19M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$179.66M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$739.97M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$513.77M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$685.39M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.44B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.37B	USD	Point-in-time

Income Statement 35 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$722.61M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$857.51M	USD	1 Quarter
Cost of sales, buying and occupancy	`CostOfMerchandiseSalesBuyingAndOccupancyCosts`	$498.75M	USD	1 Quarter
Cost of sales, buying and occupancy	`CostOfMerchandiseSalesBuyingAndOccupancyCosts`	$599.71M	USD	1 Quarter
Gross profit	`GrossProfit`	$223.86M	USD	1 Quarter
Gross profit	`GrossProfit`	$257.79M	USD	1 Quarter
Direct store expenses	`DirectStoreExpenses`	$163.19M	USD	1 Quarter
Direct store expenses	`DirectStoreExpenses`	$138.23M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$22.48M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$24.03M	USD	1 Quarter
Store pre-opening costs	`PreOpeningCosts`	$947.00K	USD	1 Quarter
Store pre-opening costs	`PreOpeningCosts`	$2.77M	USD	1 Quarter
Store closure and exit costs	`BusinessExitCosts1`	$1.23M	USD	1 Quarter
Store closure and exit costs	`BusinessExitCosts1`	$533.00K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$61.67M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$66.57M	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$5.87M	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$6.47M	USD	1 Quarter
Other income	`NonoperatingIncomeExpense`	$96.00K	USD	1 Quarter
Other income	`NonoperatingIncomeExpense`	$62.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$60.77M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$55.30M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$21.57M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$23.30M	USD	1 Quarter
Net income	`NetIncomeLoss`	$107.69M	USD	Annual
Net income	`NetIncomeLoss`	$37.47M	USD	1 Quarter
Net income	`NetIncomeLoss`	$33.73M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.23	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.25	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.22	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.24	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	147.76M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	152.24M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	153.29M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	155.48M	shares	1 Quarter

Cash Flow Statement 69 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$107.69M	USD	Annual
Net income	`NetIncomeLoss`	$37.47M	USD	1 Quarter
Net income	`NetIncomeLoss`	$33.73M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationAndAmortization`	$13.03M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationAndAmortization`	$15.85M	USD	1 Quarter
Accretion of asset retirement obligation and closed facility reserve	`AccretionExpenseIncludingAssetRetirementObligations`	$40.00K	USD	1 Quarter
Accretion of asset retirement obligation and closed facility reserve	`AccretionExpenseIncludingAssetRetirementObligations`	$79.00K	USD	1 Quarter
Amortization of financing fees and debt issuance costs	`AmortizationOfDebtDiscountPremium`	$339.00K	USD	1 Quarter
Amortization of financing fees and debt issuance costs	`AmortizationOfDebtDiscountPremium`	$394.00K	USD	1 Quarter
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-272.00K	USD	1 Quarter
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-727.00K	USD	1 Quarter
Equity-based compensation	`ShareBasedCompensation`	$1.41M	USD	1 Quarter
Equity-based compensation	`ShareBasedCompensation`	$1.14M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$6.46M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$1.66M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.20M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$11.89M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$5.96M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$3.20M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.31M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$4.10M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$686.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$6.31M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$22.92M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$29.47M	USD	1 Quarter
Accrued salaries and benefits	`IncreaseDecreaseInAccruedSalaries`	$-631.00K	USD	1 Quarter
Accrued salaries and benefits	`IncreaseDecreaseInAccruedSalaries`	$-5.05M	USD	1 Quarter
Other accrued liabilities and income taxes payable	`IncreaseDecreaseInOtherAccruedLiabilities`	$-1.88M	USD	1 Quarter
Other accrued liabilities and income taxes payable	`IncreaseDecreaseInOtherAccruedLiabilities`	$1.96M	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$13.15M	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$3.84M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$68.08M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$76.27M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$33.76M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$18.24M	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$51.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-18.19M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-33.76M	USD	1 Quarter
Payments on term loan	`RepaymentsOfSecuredDebt`	$1.75M	USD	1 Quarter
Payments on term loan	`RepaymentsOfSecuredDebt`	$1.75M	USD	1 Quarter
Payments on capital lease obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	$161.00K	USD	1 Quarter
Payments on capital lease obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	$131.00K	USD	1 Quarter
Payments on financing lease obligations	`PaymentsOnFinancingLeaseObligations`	$726.00K	USD	1 Quarter
Payments on financing lease obligations	`PaymentsOnFinancingLeaseObligations`	$836.00K	USD	1 Quarter
Cash from landlord related to financing lease obligations	`ProceedsFromRealPropertyFinancingLeaseObligations`	$577.00K	USD	1 Quarter
Excess tax benefit for exercise of stock options	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$14.78M	USD	1 Quarter
Excess tax benefit for exercise of stock options	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$12.20M	USD	1 Quarter
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$566.00K	USD	1 Quarter
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$3.42M	USD	1 Quarter
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$3.40M	USD	Point-in-time
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$12.88M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$13.32M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$71.40M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$47.21M	USD	1 Quarter
Cash and cash equivalents at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$130.51M	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$149.05M	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$77.65M	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$177.72M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$130.51M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$149.05M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$77.65M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$177.72M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$5.56M	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$6.06M	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$1.00K	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$249.00K	USD	1 Quarter
Property and equipment in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$21.79M	USD	1 Quarter
Property and equipment in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$21.15M	USD	1 Quarter
Property acquired through capital and financing lease obligations	`PropertyAndEquipmentAcquiredThroughCapitalLeaseAndFinancingObligations`	$4.38M	USD	1 Quarter

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$739.97M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$513.77M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$685.39M	USD	Point-in-time
Net income	`NetIncomeLoss`	$107.69M	USD	Annual
Net income	`NetIncomeLoss`	$37.47M	USD	1 Quarter
Net income	`NetIncomeLoss`	$33.73M	USD	1 Quarter
Issuance of shares under option plans	`StockIssuedDuringPeriodValueStockOptionsExercised`	$3.77M	USD	1 Quarter
Issuance of shares under option plans	`StockIssuedDuringPeriodValueStockOptionsExercised`	$11.31M	USD	Annual
Excess income tax benefit for exercise of options	`AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation`	$47.26M	USD	Annual
Excess income tax benefit for exercise of options	`AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation`	$12.20M	USD	1 Quarter
Tax effect of forfeiture of vested options in equity	`AdjustmentsToAdditionalPaidInCapitalIncomeTaxDeficiencyFromShareBasedCompensation`	$2.00K	USD	Annual
Equity-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$5.36M	USD	Annual
Equity-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.14M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$739.97M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$513.77M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$685.39M	USD	Point-in-time

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