10-Q Filing

Sprouts Farmers Market, Inc. CIK: 1575515 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001564590-17-008590`
Period End Date	20170331
Filing Date	20170504
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	sfm-20170402.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 33 Cash Flow Statement 70 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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$136.07M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.46M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$21.33M	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
Undesignated preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, net	`ReceivablesNetCurrent`	$25.23M	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`	$24.70M	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
Inventories	`InventoryNet`	$204.27M	USD	Point-in-time
Inventories	`InventoryNet`	$204.46M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$21.87M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$23.22M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$264.03M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	140.26M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	137.26M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$273.51M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	140.26M	shares	Point-in-time
Property and equipment, net of accumulated depreciation	`PropertyPlantAndEquipmentNet`	$653.36M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	137.26M	shares	Point-in-time
Property and equipment, net of accumulated depreciation	`PropertyPlantAndEquipmentNet`	$604.66M	USD	Point-in-time
Intangible assets, net of accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$197.61M	USD	Point-in-time
Intangible assets, net of accumulated amortization	`IntangibleAssetsNetExcludingGoodwill`	$197.26M	USD	Point-in-time
Goodwill	`Goodwill`	$368.08M	USD	Point-in-time
Goodwill	`Goodwill`	$368.08M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$5.52M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$5.43M	USD	Point-in-time
Total assets	`Assets`	$1.50B	USD	Point-in-time
Total assets	`Assets`	$1.44B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$157.55M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$191.82M	USD	Point-in-time
Accrued salaries and benefits	`EmployeeRelatedLiabilitiesCurrent`	$31.22M	USD	Point-in-time
Accrued salaries and benefits	`EmployeeRelatedLiabilitiesCurrent`	$32.86M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$55.94M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$56.38M	USD	Point-in-time
Current portion of capital and financing lease obligations	`CapitalAndFinancingLeaseObligationsCurrent`	$12.37M	USD	Point-in-time
Current portion of capital and financing lease obligations	`CapitalAndFinancingLeaseObligationsCurrent`	$10.62M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$10.53M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$300.12M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$259.15M	USD	Point-in-time
Long-term capital and financing lease obligations	`CapitalAndFinancingLeaseObligationsNoncurrent`	$117.37M	USD	Point-in-time
Long-term capital and financing lease obligations	`CapitalAndFinancingLeaseObligationsNoncurrent`	$119.37M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$255.00M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$285.00M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$116.20M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$121.07M	USD	Point-in-time
Deferred income tax liability	`DeferredTaxLiabilitiesNoncurrent`	$19.26M	USD	Point-in-time
Deferred income tax liability	`DeferredTaxLiabilitiesNoncurrent`	$28.14M	USD	Point-in-time
Total liabilities	`Liabilities`	$853.71M	USD	Point-in-time
Total liabilities	`Liabilities`	$766.98M	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 8)	`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, 137,261,840 and 140,256,313 shares issued and outstanding, April 2, 2017 and January 1, 2017, respectively	`CommonStockValue`	$140.00K	USD	Point-in-time
Common stock, $0.001 par value; 200,000,000 shares authorized, 137,261,840 and 140,256,313 shares issued and outstanding, April 2, 2017 and January 1, 2017, respectively	`CommonStockValue`	$137.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$597.27M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$602.01M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$41.79M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$75.50M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$672.91M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$643.93M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$822.99M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$1.50B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$1.44B	USD	Point-in-time

Income Statement 33 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$993.24M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$1.13B	USD	1 Quarter
Cost of sales, buying and occupancy	`CostOfMerchandiseSalesBuyingAndOccupancyCosts`	$793.36M	USD	1 Quarter
Cost of sales, buying and occupancy	`CostOfMerchandiseSalesBuyingAndOccupancyCosts`	$686.73M	USD	1 Quarter
Gross profit	`GrossProfit`	$306.51M	USD	1 Quarter
Gross profit	`GrossProfit`	$337.29M	USD	1 Quarter
Direct store expenses	`DirectStoreExpenses`	$229.15M	USD	1 Quarter
Direct store expenses	`DirectStoreExpenses`	$193.81M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$32.17M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$30.90M	USD	1 Quarter
Store pre-opening costs	`PreOpeningCosts`	$3.46M	USD	1 Quarter
Store pre-opening costs	`PreOpeningCosts`	$3.97M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$77.84M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$72.51M	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$3.60M	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$4.74M	USD	1 Quarter
Other income	`NonoperatingIncomeExpense`	$95.00K	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`	$67.87M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$28.13M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$21.58M	USD	1 Quarter
Net income	`NetIncomeLoss`	$46.29M	USD	1 Quarter
Net income	`NetIncomeLoss`	$124.31M	USD	Annual
Net income	`NetIncomeLoss`	$46.21M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.31	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.34	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.30	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.33	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	150.72M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	137.07M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	140.15M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	153.14M	shares	1 Quarter

Cash Flow Statement 70 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$46.29M	USD	1 Quarter
Net income	`NetIncomeLoss`	$124.31M	USD	Annual
Net income	`NetIncomeLoss`	$46.21M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationAndAmortization`	$18.83M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationAndAmortization`	$22.62M	USD	1 Quarter
Accretion of asset retirement obligation and closed store reserve	`AccretionExpenseIncludingAssetRetirementObligations`	$80.00K	USD	1 Quarter
Accretion of asset retirement obligation and closed store reserve	`AccretionExpenseIncludingAssetRetirementObligations`	$19.00K	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`	$116.00K	USD	1 Quarter
(Gain) / Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-45.00K	USD	1 Quarter
(Gain) / Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$117.00K	USD	1 Quarter
Equity-based compensation	`ShareBasedCompensation`	$2.45M	USD	1 Quarter
Equity-based compensation	`ShareBasedCompensation`	$2.66M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$7.41M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$8.88M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-213.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-5.64M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-196.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$7.12M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.35M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-4.55M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$4.88M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$27.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$15.58M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$21.47M	USD	1 Quarter
Accrued salaries and benefits	`IncreaseDecreaseInAccruedSalaries`	$-5.07M	USD	1 Quarter
Accrued salaries and benefits	`IncreaseDecreaseInAccruedSalaries`	$-1.64M	USD	1 Quarter
Other accrued liabilities and income taxes payable	`IncreaseDecreaseInOtherAccruedLiabilities`	$10.08M	USD	1 Quarter
Other accrued liabilities and income taxes payable	`IncreaseDecreaseInOtherAccruedLiabilities`	$5.11M	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$8.96M	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$5.19M	USD	1 Quarter
Cash flows from operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$114.54M	USD	1 Quarter
Cash flows from operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$97.95M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$34.00M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$57.20M	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$662.00K	USD	1 Quarter
Proceeds from sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$30.00K	USD	1 Quarter
Purchase of leasehold interests	`PaymentsToAcquireLeaseholdInterestForUseInOperation`	$138.00K	USD	1 Quarter
Cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-33.48M	USD	1 Quarter
Cash flows used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-57.17M	USD	1 Quarter
Proceeds from revolving credit facility	`ProceedsFromLinesOfCredit`	$105.00M	USD	Annual
Proceeds from revolving credit facility	`ProceedsFromLinesOfCredit`	$60.00M	USD	1 Quarter
Payments on revolving credit facility	`RepaymentsOfLinesOfCredit`	$30.00M	USD	1 Quarter
Payments on capital and financing lease obligations	`PaymentsOnCapitalAndFinancingLeaseObligations`	$1.09M	USD	1 Quarter
Payments on capital and financing lease obligations	`PaymentsOnCapitalAndFinancingLeaseObligations`	$1.08M	USD	1 Quarter
Cash from landlords related to financing lease obligations	`ProceedsFromRealPropertyFinancingLeaseObligations`	$300.00K	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$59.31M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$80.00M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$2.29M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$1.93M	USD	1 Quarter
Excess tax benefit for exercise of stock options	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$3.56M	USD	1 Quarter
Cash flows used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-48.50M	USD	1 Quarter
Cash flows used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-54.89M	USD	1 Quarter
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$8.86M	USD	1 Quarter
Increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$9.58M	USD	1 Quarter
Cash and cash equivalents at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$136.07M	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$12.46M	USD	Point-in-time
Cash and cash equivalents at beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$21.33M	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 the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$136.07M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$12.46M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$21.33M	USD	Point-in-time
Cash and cash equivalents at the end of the period	`CashAndCashEquivalentsAtCarryingValue`	$145.65M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$4.43M	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$3.72M	USD	1 Quarter
Cash refunded for income taxes	`ProceedsFromIncomeTaxRefunds`	$48.00K	USD	1 Quarter
Property and equipment in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$36.04M	USD	1 Quarter
Property and equipment in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$23.14M	USD	1 Quarter
Property acquired through capital and financing lease obligations	`PropertyAndEquipmentAcquiredThroughCapitalLeaseAndFinancingObligations`	$3.17M	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`	$672.91M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$643.93M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$822.99M	USD	Point-in-time
Net income	`NetIncomeLoss`	$46.29M	USD	1 Quarter
Net income	`NetIncomeLoss`	$124.31M	USD	Annual
Net income	`NetIncomeLoss`	$46.21M	USD	1 Quarter
Issuance of shares under stock plans	`StockIssuedDuringPeriodValueStockOptionsExercised`	$2.29M	USD	1 Quarter
Issuance of shares under stock plans	`StockIssuedDuringPeriodValueStockOptionsExercised`	$2.74M	USD	Annual
Repurchase and retirement of common stock	`StockRepurchasedAndRetiredDuringPeriodValue`	$294.26M	USD	Annual
Repurchase and retirement of common stock	`StockRepurchasedAndRetiredDuringPeriodValue`	$59.31M	USD	1 Quarter
Repurchase and retirement of common stock	`StockRepurchasedAndRetiredDuringPeriodValue`	$80.00M	USD	1 Quarter
Repurchase and retirement of common stock, Shares	`StockRepurchasedAndRetiredDuringPeriodShares`	4.10M	shares	1 Quarter
Repurchase and retirement of common stock, Shares	`StockRepurchasedAndRetiredDuringPeriodShares`	2.43M	shares	1 Quarter
Excess tax benefit for exercise of options	`AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation`	$3.74M	USD	Annual
Equity-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$13.40M	USD	Annual
Equity-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.45M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$672.91M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$643.93M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$822.99M	USD	Point-in-time

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