10-Q Filing

YETI HOLDINGS, INC. CIK: 1670592 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001558370-19-004069`
Period End Date	20190331
Filing Date	20190506
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	yeti-20190330.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 28 Cash Flow Statement 56 Stockholders Equity 20 Comprehensive Income 8

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	600.00M	shares	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	600.00M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	84.20M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$19.01M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	84.20M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$80.05M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$53.65M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$60.40M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$63.00M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$59.33M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventory	`InventoryNet`	$164.30M	USD	Point-in-time
Preferred stock, authorized	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Inventory	`InventoryNet`	$145.42M	USD	Point-in-time
Preferred stock, authorized	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$20.07M	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$12.21M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$266.37M	USD	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$297.01M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$78.22M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$74.10M	USD	Point-in-time
Goodwill	`Goodwill`	$54.29M	USD	Point-in-time
Goodwill	`Goodwill`	$54.29M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$80.02M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$90.04M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$7.78M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$5.74M	USD	Point-in-time
Deferred charges and other assets	`DeferredCostsAndOtherAssets`	$1.01M	USD	Point-in-time
Deferred charges and other assets	`DeferredCostsAndOtherAssets`	$1.12M	USD	Point-in-time
Total assets	`Assets`	$514.21M	USD	Point-in-time
Total assets	`Assets`	$495.79M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$68.74M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$78.22M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$53.02M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$44.58M	USD	Point-in-time
Taxes payable	`TaxesPayableCurrent`	$6.39M	USD	Point-in-time
Taxes payable	`TaxesPayableCurrent`	$278.00K	USD	Point-in-time
Accrued payroll and related costs	`EmployeeRelatedLiabilitiesCurrent`	$5.78M	USD	Point-in-time
Accrued payroll and related costs	`EmployeeRelatedLiabilitiesCurrent`	$15.55M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$43.64M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$43.64M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$172.50M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$187.34M	USD	Point-in-time
Long-term debt, net of current portion	`LongTermDebtNoncurrent`	$284.38M	USD	Point-in-time
Long-term debt, net of current portion	`LongTermDebtNoncurrent`	$273.82M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$13.53M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$13.99M	USD	Point-in-time
Total liabilities	`Liabilities`	$485.24M	USD	Point-in-time
Total liabilities	`Liabilities`	$460.31M	USD	Point-in-time
Commitments and contingencies (Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, par value $0.01; 600,000 shares authorized; 84,196 and 84,196 shares outstanding at March 30, 2019 and December 29, 2018, respectively	`CommonStockValue`	$842.00K	USD	Point-in-time
Common stock, par value $0.01; 600,000 shares authorized; 84,196 and 84,196 shares outstanding at March 30, 2019 and December 29, 2018, respectively	`CommonStockValue`	$842.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$268.33M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$272.33M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-237.60M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-240.10M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-107.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-94.00K	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$28.97M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$35.47M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-76.23M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-78.97M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$514.21M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$495.79M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$135.26M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$155.35M	USD	1 Quarter
Cost of goods sold	`CostOfRevenue`	$78.07M	USD	1 Quarter
Cost of goods sold	`CostOfRevenue`	$78.73M	USD	1 Quarter
Gross profit	`GrossProfit`	$57.19M	USD	1 Quarter
Gross profit	`GrossProfit`	$76.63M	USD	1 Quarter
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$67.84M	USD	1 Quarter
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$53.95M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$3.24M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$8.78M	USD	1 Quarter
Interest expense	`InterestExpense`	$6.07M	USD	1 Quarter
Interest expense	`InterestExpense`	$8.13M	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-18.00K	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$63.00K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.90M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.78M	USD	1 Quarter
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	$-1.64M	USD	1 Quarter
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	$613.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-3.26M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$2.17M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.03	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.04	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.03	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.04	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	81.42M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	84.20M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	85.86M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	81.42M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-3.26M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$2.17M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.70M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$6.54M	USD	1 Quarter
Amortization of deferred financing fees	`AmortizationOfFinancingCosts`	$736.00K	USD	1 Quarter
Amortization of deferred financing fees	`AmortizationOfFinancingCosts`	$574.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$4.00M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$3.01M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$1.88M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$457.00K	USD	1 Quarter
Impairment of long-lived assets	`ImpairmentOfLongLivedAssetsHeldForUse`	$94.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$3.18M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-6.71M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$19.21M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-16.53M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$3.38M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$7.39M	USD	1 Quarter
Income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$452.00K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.82M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-9.09M	USD	1 Quarter
Taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$-3.66M	USD	1 Quarter
Taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$-6.13M	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-151.00K	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-627.00K	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$25.30M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-30.04M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$8.38M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.21M	USD	1 Quarter
Purchases of intangibles, net	`ProceedsFromPaymentsForIntangibleAssets`	$2.93M	USD	1 Quarter
Purchases of intangibles, net	`ProceedsFromPaymentsForIntangibleAssets`	$11.44M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-19.82M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.13M	USD	1 Quarter
Repayments of long-term debt	`RepaymentsOfLongTermDebt`	$11.12M	USD	1 Quarter
Repayments of long-term debt	`RepaymentsOfLongTermDebt`	$11.39M	USD	1 Quarter
Cash paid for repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$1.97M	USD	1 Quarter
Proceeds from employee stock transactions	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$53.00K	USD	1 Quarter
Taxes paid in connection with exercise of stock options	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$57.00K	USD	1 Quarter
Payments of dividends	`PaymentsOfDividendsCommonStock`	$96.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-11.12M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-13.46M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$43.00K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-60.00K	USD	1 Quarter
Net (decrease) increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$6.75M	USD	1 Quarter
Net (decrease) increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-61.04M	USD	1 Quarter
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$19.01M	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$80.05M	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$53.65M	USD	Point-in-time
Cash, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$60.40M	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$19.01M	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$80.05M	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$53.65M	USD	Point-in-time
Cash, end of period	`CashAndCashEquivalentsAtCarryingValue`	$60.40M	USD	Point-in-time
Change in accrual for property and equipment	`ChangeInAccrualForPropertyAndEquipment`	$966.00K	USD	1 Quarter
Change in accrual for property and equipment	`ChangeInAccrualForPropertyAndEquipment`	$-501.00K	USD	1 Quarter
Accrued dividend	`DividendsPayableCurrentAndNoncurrent`	$511.00K	USD	Point-in-time
Accrued dividend	`DividendsPayableCurrentAndNoncurrent`	$159.00K	USD	Point-in-time

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Balance at beginning of the period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$28.97M	USD	Point-in-time
Balance at beginning of the period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$35.47M	USD	Point-in-time
Balance at beginning of the period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-76.23M	USD	Point-in-time
Balance at beginning of the period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-78.97M	USD	Point-in-time
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$3.01M	USD	1 Quarter
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$4.00M	USD	1 Quarter
Adoption of new accounting standard	`NewAccountingPronouncementOrChangeInAccountingPrincipleEffectOfAdoptionQuantification`	$500.00K	USD	1 Quarter
Exercise of options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$53.00K	USD	1 Quarter
Shares withheld related to net share settlement of stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$57.00K	USD	1 Quarter
Repurchase of Company stock	`StockRepurchasedDuringPeriodValue`	$1.97M	USD	1 Quarter
Dividends	`DividendsCommonStockCash`	$159.00K	USD	1 Quarter
Dividends	`DividendsCommonStockCash`	$511.00K	USD	1 Quarter
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-13.00K	USD	1 Quarter
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-5.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-3.26M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$2.17M	USD	1 Quarter
Balance at end of the period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$28.97M	USD	Point-in-time
Balance at end of the period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$35.47M	USD	Point-in-time
Balance at end of the period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-76.23M	USD	Point-in-time
Balance at end of the period	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-78.97M	USD	Point-in-time

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-3.26M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$2.17M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-3.26M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$2.17M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-5.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-13.00K	USD	1 Quarter
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$2.15M	USD	1 Quarter
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-3.27M	USD	1 Quarter

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