10-Q Filing

NATIONAL BEVERAGE CORP CIK: 69891 Q3 2020

Filing Information

Form Type	10-Q
Accession Number	`0001437749-20-004446`
Period End Date	20200131
Filing Date	20200305
Fiscal Year	2020
Fiscal Period	Q3
XBRL Instance	fizz20200125_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 56 Cash Flow Statement 50 Stockholders Equity 17 Comprehensive Income 12

Balance Sheet 69 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Cash and equivalents	`CashAndCashEquivalentsAtCarryingValue`	$156.20M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Cash and equivalents	`CashAndCashEquivalentsAtCarryingValue`	$261.66M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Cash and equivalents	`CashAndCashEquivalentsAtCarryingValue`	$269.85M	USD	Point-in-time
Cash and equivalents	`CashAndCashEquivalentsAtCarryingValue`	$189.86M	USD	Point-in-time
Trade receivables - net	`AccountsReceivableNetCurrent`	$84.84M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	150,000.00	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	150,000.00	shares	Point-in-time
Trade receivables - net	`AccountsReceivableNetCurrent`	$72.52M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventory	`InventoryNet`	$70.70M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventory	`InventoryNet`	$61.20M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Prepaid and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$9.71M	USD	Point-in-time
Prepaid and other assets	`PrepaidExpenseAndOtherAssetsCurrent`	$11.59M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$406.98M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$321.46M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	50.75M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	50.68M	shares	Point-in-time
Property, plant and equipment - net	`PropertyPlantAndEquipmentNet`	$115.77M	USD	Point-in-time
Property, plant and equipment - net	`PropertyPlantAndEquipmentNet`	$111.32M	USD	Point-in-time
Right of use assets, net	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
Right of use assets, net	`OperatingLeaseRightOfUseAsset`	$47.55M	USD	Point-in-time
Goodwill	`Goodwill`	$13.14M	USD	Point-in-time
Goodwill	`Goodwill`	$13.14M	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$1.61M	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$1.61M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$4.66M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$4.25M	USD	Point-in-time
Total assets	`Assets`	$589.31M	USD	Point-in-time
Total assets	`Assets`	$452.19M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$66.20M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$58.93M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$30.43M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$35.61M	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiabilityCurrent`	-	USD	Point-in-time
Operating lease liability	`OperatingLeaseLiabilityCurrent`	$13.75M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$402.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$867.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$109.16M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$97.04M	USD	Point-in-time
Deferred income taxes net	`DeferredIncomeTaxLiabilitiesNet`	$15.99M	USD	Point-in-time
Deferred income taxes net	`DeferredIncomeTaxLiabilitiesNet`	$17.18M	USD	Point-in-time
Operating lease liability - non-current	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Operating lease liability - non-current	`OperatingLeaseLiabilityNoncurrent`	$33.73M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$7.56M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$7.04M	USD	Point-in-time
Total liabilities	`Liabilities`	$120.58M	USD	Point-in-time
Total liabilities	`Liabilities`	$167.11M	USD	Point-in-time
Preferred stock: $1 par value - 1,000,000 shares authorized: Series C - 150,000 shares issued at each period end	`PreferredStockValue`	$150.00K	USD	Point-in-time
Preferred stock: $1 par value - 1,000,000 shares authorized: Series C - 150,000 shares issued at each period end	`PreferredStockValue`	$150.00K	USD	Point-in-time
Common stock: $.01 par value - 200,000,000 shares authorized; 50,754,884 shares issued (50,678,084 shares issued at April 27, 2019)	`CommonStockValue`	$507.00K	USD	Point-in-time
Common stock: $.01 par value - 200,000,000 shares authorized; 50,754,884 shares issued (50,678,084 shares issued at April 27, 2019)	`CommonStockValue`	$507.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$37.66M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$37.06M	USD	Point-in-time
Accumulated other comprehensive (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.54M	USD	Point-in-time
Accumulated other comprehensive (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-985.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$313.43M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$407.19M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$422.20M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$331.61M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$305.49M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$452.19M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$589.31M	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$737.99M	USD	3 Qtrs
Net sales	`Revenues`	$220.89M	USD	1 Quarter
Net sales	`Revenues`	$774.19M	USD	3 Qtrs
Net sales	`Revenues`	$222.81M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$140.72M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$474.42M	USD	3 Qtrs
Cost of sales	`CostOfRevenue`	$140.34M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$466.51M	USD	3 Qtrs
Gross profit	`GrossProfit`	$80.55M	USD	1 Quarter
Gross profit	`GrossProfit`	$299.77M	USD	3 Qtrs
Gross profit	`GrossProfit`	$82.09M	USD	1 Quarter
Gross profit	`GrossProfit`	$271.48M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$152.05M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$49.53M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$153.59M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$48.88M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$31.02M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$119.43M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$33.21M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$146.18M	USD	3 Qtrs
Interest expense	`InterestExpense`	$51.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$151.00K	USD	3 Qtrs
Interest expense	`InterestExpense`	$151.00K	USD	3 Qtrs
Interest expense	`InterestExpense`	$51.00K	USD	1 Quarter
Other income - net	`OtherNonoperatingIncomeExpense`	$1.24M	USD	1 Quarter
Other income - net	`OtherNonoperatingIncomeExpense`	$2.88M	USD	3 Qtrs
Other income - net	`OtherNonoperatingIncomeExpense`	$1.03M	USD	1 Quarter
Other income - net	`OtherNonoperatingIncomeExpense`	$3.28M	USD	3 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$149.31M	USD	3 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$122.17M	USD	3 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$32.20M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$34.19M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$7.39M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$34.59M	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$7.63M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$28.41M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$26.56M	USD	1 Quarter
Net income	`NetIncomeLoss`	$114.72M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$93.76M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$24.81M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$2.46	USD	3 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$2.01	USD	3 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.53	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.57	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.53	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$2.44	USD	3 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.57	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$2.00	USD	3 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	46,633.00	shares	3 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	46,638.00	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	46,600.00	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	46,628.00	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	46,853.00	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	46,802.00	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	46,934.00	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	46,927.00	shares	3 Qtrs

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$26.56M	USD	1 Quarter
Net income	`NetIncomeLoss`	$114.72M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$93.76M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$24.81M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$11.53M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$13.41M	USD	3 Qtrs
Deferred income tax provision	`DeferredIncomeTaxExpenseBenefit`	$956.00K	USD	3 Qtrs
Deferred income tax provision	`DeferredIncomeTaxExpenseBenefit`	$4.06M	USD	3 Qtrs
(Gain) Loss on sale of property, net	`GainLossOnDispositionOfAssets1`	$-2.00K	USD	3 Qtrs
(Gain) Loss on sale of property, net	`GainLossOnDispositionOfAssets1`	$9.00K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$189.00K	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$179.00K	USD	3 Qtrs
Trade receivables	`IncreaseDecreaseInAccountsReceivable`	$-12.32M	USD	3 Qtrs
Trade receivables	`IncreaseDecreaseInAccountsReceivable`	$-8.02M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$11.24M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-9.50M	USD	3 Qtrs
Prepaid and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$911.00K	USD	3 Qtrs
Prepaid and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$3.18M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-15.91M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-7.27M	USD	3 Qtrs
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-1.13M	USD	3 Qtrs
Accrued and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$3.26M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$107.03M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$125.21M	USD	3 Qtrs
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$15.85M	USD	3 Qtrs
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$27.46M	USD	3 Qtrs
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$10.00K	USD	3 Qtrs
Proceeds from sale of property, plant and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$10.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-27.45M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-15.84M	USD	3 Qtrs
Proceeds from stock options exercised	`ProceedsFromStockOptionsExercised`	$406.00K	USD	3 Qtrs
Proceeds from stock options exercised	`ProceedsFromStockOptionsExercised`	$403.00K	USD	3 Qtrs
Repurchase of common shares	`PaymentsForRepurchaseOfCommonStock`	-	USD	3 Qtrs
Repurchase of common shares	`PaymentsForRepurchaseOfCommonStock`	$4.32M	USD	3 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.91M	USD	3 Qtrs
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$403.00K	USD	3 Qtrs
Net Increase in Cash and Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$105.46M	USD	3 Qtrs
Net Increase in Cash and Equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$79.99M	USD	3 Qtrs
Cash and Equivalents - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$156.20M	USD	Point-in-time
Cash and Equivalents - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$261.66M	USD	Point-in-time
Cash and Equivalents - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$269.85M	USD	Point-in-time
Cash and Equivalents - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$189.86M	USD	Point-in-time
Cash and Equivalents - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$156.20M	USD	Point-in-time
Cash and Equivalents - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$261.66M	USD	Point-in-time
Cash and Equivalents - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$269.85M	USD	Point-in-time
Cash and Equivalents - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$189.86M	USD	Point-in-time
Interest paid	`InterestPaidNet`	$38.00K	USD	3 Qtrs
Interest paid	`InterestPaidNet`	$38.00K	USD	3 Qtrs
Income taxes paid, net of refunds	`IncomeTaxesPaidNet`	$29.34M	USD	3 Qtrs
Income taxes paid, net of refunds	`IncomeTaxesPaidNet`	$30.91M	USD	3 Qtrs

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$422.20M	USD	Point-in-time
Balance	`StockholdersEquity`	$331.61M	USD	Point-in-time
Balance	`StockholdersEquity`	$305.49M	USD	Point-in-time
Balance	`StockholdersEquity`	$422.20M	USD	Point-in-time
Balance	`StockholdersEquity`	$331.61M	USD	Point-in-time
Balance	`StockholdersEquity`	$305.49M	USD	Point-in-time
Cash flow hedges, net of tax	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$-6.00M	USD	3 Qtrs
Cash flow hedges, net of tax	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$558.00K	USD	3 Qtrs
Cash flow hedges, net of tax	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$123.00K	USD	1 Quarter
Cash flow hedges, net of tax	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$-1.24M	USD	1 Quarter
Net income	`NetIncomeLoss`	$26.56M	USD	1 Quarter
Net income	`NetIncomeLoss`	$114.72M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$93.76M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$24.81M	USD	1 Quarter
Stock option exercises (in shares)	`StockIssuedDuringPeriodSharesStockOptionsExercised`	76,800.00	shares	3 Qtrs
Repurchase of common shares (in shares)	`TreasuryStockSharesAcquired`	608,921.00	shares	31 Qtrs
Repurchase of common shares (in shares)	`TreasuryStockSharesAcquired`	608,921.00	shares	31 Qtrs

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$26.56M	USD	1 Quarter
Net income	`NetIncomeLoss`	$114.72M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$93.76M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$24.81M	USD	1 Quarter
Cash flow hedges	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$-6.00M	USD	3 Qtrs
Cash flow hedges	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$558.00K	USD	3 Qtrs
Cash flow hedges	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$123.00K	USD	1 Quarter
Cash flow hedges	`OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax`	$-1.24M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$26.69M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$108.72M	USD	3 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$94.32M	USD	3 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$23.57M	USD	1 Quarter

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