10-Q Filing

Sprouts Farmers Market, Inc. CIK: 1575515 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001564590-16-017821`
Period End Date	20160331
Filing Date	20160505
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	sfm-20160403.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 35 Cash Flow Statement 67 Stockholders Equity 19

Balance Sheet 74 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
Undesignated preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	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`	$145.65M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$177.72M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$136.07M	USD	Point-in-time
Accounts receivable, net	`ReceivablesNetCurrent`	$20.42M	USD	Point-in-time
Accounts receivable, net	`ReceivablesNetCurrent`	$14.95M	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
Inventories	`InventoryNet`	$172.55M	USD	Point-in-time
Inventories	`InventoryNet`	$165.43M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	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`	$23.29M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$18.74M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	152.58M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	150.73M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$351.90M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$345.21M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	152.58M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	150.73M	shares	Point-in-time
Property and equipment, net of accumulated depreciation	`PropertyPlantAndEquipmentNet`	$494.07M	USD	Point-in-time
Property and equipment, net of accumulated depreciation	`PropertyPlantAndEquipmentNet`	$507.40M	USD	Point-in-time
Intangible assets, net of accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$198.30M	USD	Point-in-time
Intangible assets, net of accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$198.60M	USD	Point-in-time
Goodwill	`Goodwill`	$368.08M	USD	Point-in-time
Goodwill	`Goodwill`	$368.08M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$19.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$23.76M	USD	Point-in-time
Deferred income tax asset	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$1.40M	USD	Point-in-time
Total assets	`Assets`	$1.43B	USD	Point-in-time
Total assets	`Assets`	$1.45B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$134.48M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$157.00M	USD	Point-in-time
Accrued salaries and benefits	`EmployeeRelatedLiabilitiesCurrent`	$30.72M	USD	Point-in-time
Accrued salaries and benefits	`EmployeeRelatedLiabilitiesCurrent`	$25.65M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$44.30M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$50.25M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$11.22M	USD	Point-in-time
Current portion of capital and financing lease obligations	`CapitalAndFinancingLeaseObligationsCurrent`	$7.07M	USD	Point-in-time
Current portion of capital and financing lease obligations	`CapitalAndFinancingLeaseObligationsCurrent`	$14.97M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$245.24M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$230.42M	USD	Point-in-time
Long-term capital and financing lease obligations	`CapitalAndFinancingLeaseObligationsNoncurrent`	$115.50M	USD	Point-in-time
Long-term capital and financing lease obligations	`CapitalAndFinancingLeaseObligationsNoncurrent`	$113.94M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$160.00M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$160.00M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$106.20M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$97.45M	USD	Point-in-time
Deferred income tax liability	`DeferredTaxLiabilitiesNoncurrent`	$6.01M	USD	Point-in-time
Total liabilities	`Liabilities`	$603.37M	USD	Point-in-time
Total liabilities	`Liabilities`	$631.39M	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, 150,731,088 and 152,577,884 shares issued and outstanding, April 3, 2016 and January 3, 2016, respectively	`CommonStockValue`	$151.00K	USD	Point-in-time
Common stock, $0.001 par value; 200,000,000 shares authorized, 150,731,088 and 152,577,884 shares issued and outstanding, April 3, 2016 and January 3, 2016, respectively	`CommonStockValue`	$153.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$577.39M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$585.54M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$232.35M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$245.45M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$822.99M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$685.39M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$818.04M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$1.43B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$1.45B	USD	Point-in-time

Income Statement 35 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$857.51M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$993.24M	USD	1 Quarter
Cost of sales, buying and occupancy	`CostOfMerchandiseSalesBuyingAndOccupancyCosts`	$599.71M	USD	1 Quarter
Cost of sales, buying and occupancy	`CostOfMerchandiseSalesBuyingAndOccupancyCosts`	$686.73M	USD	1 Quarter
Gross profit	`GrossProfit`	$257.79M	USD	1 Quarter
Gross profit	`GrossProfit`	$306.51M	USD	1 Quarter
Direct store expenses	`DirectStoreExpenses`	$193.78M	USD	1 Quarter
Direct store expenses	`DirectStoreExpenses`	$163.19M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$24.03M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$30.90M	USD	1 Quarter
Store pre-opening costs	`PreOpeningCosts`	$2.77M	USD	1 Quarter
Store pre-opening costs	`PreOpeningCosts`	$3.97M	USD	1 Quarter
Store closure and exit costs	`IncomeExpenseStoreClosureAndExit`	$1.23M	USD	1 Quarter
Store closure and exit costs	`IncomeExpenseStoreClosureAndExit`	$37.00K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$77.84M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$66.57M	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$3.60M	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$5.87M	USD	1 Quarter
Other income	`NonoperatingIncomeExpense`	$62.00K	USD	1 Quarter
Other income	`NonoperatingIncomeExpense`	$101.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$74.34M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$60.77M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$28.13M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$23.30M	USD	1 Quarter
Net income	`NetIncomeLoss`	$46.21M	USD	1 Quarter
Net income	`NetIncomeLoss`	$128.99M	USD	Annual
Net income	`NetIncomeLoss`	$37.47M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.25	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.31	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.30	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.24	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	152.24M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	150.72M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	155.48M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	153.14M	shares	1 Quarter

Cash Flow Statement 67 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$46.21M	USD	1 Quarter
Net income	`NetIncomeLoss`	$128.99M	USD	Annual
Net income	`NetIncomeLoss`	$37.47M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationAndAmortization`	$18.83M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationAndAmortization`	$15.85M	USD	1 Quarter
Accretion of asset retirement obligation and closed facility reserve	`AccretionExpenseIncludingAssetRetirementObligations`	$79.00K	USD	1 Quarter
Accretion of asset retirement obligation and closed facility reserve	`AccretionExpenseIncludingAssetRetirementObligations`	$80.00K	USD	1 Quarter
Amortization of financing fees and debt issuance costs	`AmortizationOfFinancingCosts`	$116.00K	USD	1 Quarter
Amortization of financing fees and debt issuance costs	`AmortizationOfFinancingCosts`	$339.00K	USD	1 Quarter
(Gain)/Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$117.00K	USD	1 Quarter
(Gain)/Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-272.00K	USD	1 Quarter
Equity-based compensation	`ShareBasedCompensation`	$2.66M	USD	1 Quarter
Equity-based compensation	`ShareBasedCompensation`	$1.14M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$7.41M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$1.66M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$11.89M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-5.64M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$5.96M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$7.12M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-4.55M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$4.10M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$6.31M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$4.88M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$15.58M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$29.47M	USD	1 Quarter
Accrued salaries and benefits	`IncreaseDecreaseInAccruedSalaries`	$-5.05M	USD	1 Quarter
Accrued salaries and benefits	`IncreaseDecreaseInAccruedSalaries`	$-5.07M	USD	1 Quarter
Other accrued liabilities and income taxes payable	`IncreaseDecreaseInOtherAccruedLiabilities`	$1.96M	USD	1 Quarter
Other accrued liabilities and income taxes payable	`IncreaseDecreaseInOtherAccruedLiabilities`	$5.11M	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$13.15M	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$8.96M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$68.08M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$97.95M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$33.76M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$34.00M	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$662.00K	USD	1 Quarter
Purchase of leasehold interests	`PaymentsToAcquireLeasesHeldForInvestment`	$138.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-33.48M	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 capital lease obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	$161.00K	USD	1 Quarter
Payments on capital lease obligations	`RepaymentsOfDebtAndCapitalLeaseObligations`	$173.00K	USD	1 Quarter
Payments on financing lease obligations	`PaymentsOnFinancingLeaseObligations`	$836.00K	USD	1 Quarter
Payments on financing lease obligations	`PaymentsOnFinancingLeaseObligations`	$905.00K	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$59.31M	USD	1 Quarter
Excess tax benefit for exercise of stock options	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$3.56M	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`	$3.42M	USD	1 Quarter
Proceeds from the exercise of stock options	`ProceedsFromStockOptionsExercised`	$1.93M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-54.89M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$12.88M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$9.58M	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`	$145.65M	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 beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$136.07M	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`	$145.65M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$177.72M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$136.07M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$3.72M	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$5.56M	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	$249.00K	USD	1 Quarter
Property and equipment in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$21.15M	USD	1 Quarter
Property and equipment in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$23.14M	USD	1 Quarter
Property acquired through capital and financing lease obligations	`PropertyAndEquipmentAcquiredThroughCapitalLeaseAndFinancingObligations`	$1.74M	USD	1 Quarter

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$822.99M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$685.39M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$818.04M	USD	Point-in-time
Net income	`NetIncomeLoss`	$46.21M	USD	1 Quarter
Net income	`NetIncomeLoss`	$128.99M	USD	Annual
Net income	`NetIncomeLoss`	$37.47M	USD	1 Quarter
Issuance of shares under option plans	`StockIssuedDuringPeriodValueStockOptionsExercised`	$1.93M	USD	1 Quarter
Issuance of shares under option plans	`StockIssuedDuringPeriodValueStockOptionsExercised`	$6.32M	USD	Annual
Repurchase and retirement of common stock	`StockRepurchasedAndRetiredDuringPeriodValue`	$59.31M	USD	1 Quarter
Repurchase and retirement of common stock	`StockRepurchasedAndRetiredDuringPeriodValue`	$25.73M	USD	Annual
Repurchase and retirement of common stock, Shares	`StockRepurchasedAndRetiredDuringPeriodShares`	0.00	shares	1 Quarter
Repurchase and retirement of common stock, Shares	`StockRepurchasedAndRetiredDuringPeriodShares`	2.43M	shares	1 Quarter
Excess tax benefit for exercise of options	`AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation`	$3.56M	USD	1 Quarter
Excess tax benefit for exercise of options	`AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation`	$20.01M	USD	Annual
Equity-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.66M	USD	1 Quarter
Equity-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$8.02M	USD	Annual
Ending Balance	`StockholdersEquity`	$822.99M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$685.39M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$818.04M	USD	Point-in-time

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