10-Q Filing

Sleep Number Corp CIK: 827187 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001564590-19-013372`
Period End Date	20190331
Filing Date	20190426
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	snbr-20190330.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 32 Cash Flow Statement 56 Stockholders Equity 20

Balance Sheet 80 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$720.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.61M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$699.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.70M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $720 and $699, respectively	`AccountsReceivableNetCurrent`	$18.61M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $720 and $699, respectively	`AccountsReceivableNetCurrent`	$24.80M	USD	Point-in-time
Inventories	`InventoryNet`	$84.88M	USD	Point-in-time
Inventories	`InventoryNet`	$83.31M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$8.01M	USD	Point-in-time
Undesignated preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$10.04M	USD	Point-in-time
Undesignated preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$31.99M	USD	Point-in-time
Undesignated preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$31.56M	USD	Point-in-time
Undesignated preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$145.65M	USD	Point-in-time
Undesignated preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Undesignated preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$150.86M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$205.63M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	142.50M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$203.65M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	142.50M	shares	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	30.87M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	30.21M	shares	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$303.82M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	30.21M	shares	Point-in-time
Goodwill and intangible assets, net	`IntangibleAssetsNetIncludingGoodwill`	$74.86M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	30.87M	shares	Point-in-time
Goodwill and intangible assets, net	`IntangibleAssetsNetIncludingGoodwill`	$75.41M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$42.72M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$38.24M	USD	Point-in-time
Total assets	`Assets`	$470.14M	USD	Point-in-time
Total assets	`Assets`	$770.70M	USD	Point-in-time
Borrowings under revolving credit facility	`LinesOfCreditCurrent`	$199.60M	USD	Point-in-time
Borrowings under revolving credit facility	`LinesOfCreditCurrent`	$218.70M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$121.15M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$144.78M	USD	Point-in-time
Customer prepayments	`CustomerPrepaymentsCurrent`	$27.07M	USD	Point-in-time
Customer prepayments	`CustomerPrepaymentsCurrent`	$30.52M	USD	Point-in-time
Accrued sales returns	`ContractWithCustomerRefundLiability`	$19.02M	USD	Point-in-time
Accrued sales returns	`ContractWithCustomerRefundLiability`	$19.27M	USD	Point-in-time
Accrued sales returns	`ContractWithCustomerRefundLiability`	$19.96M	USD	Point-in-time
Accrued sales returns	`ContractWithCustomerRefundLiability`	$19.91M	USD	Point-in-time
Compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$27.70M	USD	Point-in-time
Compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$29.35M	USD	Point-in-time
Taxes and withholding	`TaxesPayableCurrent`	$18.38M	USD	Point-in-time
Taxes and withholding	`TaxesPayableCurrent`	$23.84M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	-	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$54.20M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$47.77M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$51.23M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$545.48M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$488.67M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$5.65M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$4.82M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$278.45M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$86.20M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$65.77M	USD	Point-in-time
Total liabilities	`Liabilities`	$895.34M	USD	Point-in-time
Total liabilities	`Liabilities`	$579.69M	USD	Point-in-time
Undesignated preferred stock; 5,000 shares authorized, no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Undesignated preferred stock; 5,000 shares authorized, no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.01 par value; 142,500 shares authorized, 30,213 and 30,868 shares issued and outstanding, respectively	`CommonStockValue`	$302.00K	USD	Point-in-time
Common stock, $0.01 par value; 142,500 shares authorized, 30,213 and 30,868 shares issued and outstanding, respectively	`CommonStockValue`	$309.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	-	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-124.94M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-109.86M	USD	Point-in-time
Total shareholders deficit	`StockholdersEquity`	$-124.64M	USD	Point-in-time
Total shareholders deficit	`StockholdersEquity`	$36.00M	USD	Point-in-time
Total shareholders deficit	`StockholdersEquity`	$-109.55M	USD	Point-in-time
Total shareholders deficit	`StockholdersEquity`	$89.16M	USD	Point-in-time
Total liabilities and shareholders deficit	`LiabilitiesAndStockholdersEquity`	$770.70M	USD	Point-in-time
Total liabilities and shareholders deficit	`LiabilitiesAndStockholdersEquity`	$470.14M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$388.63M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$426.44M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$151.16M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$164.21M	USD	1 Quarter
Gross profit	`GrossProfit`	$237.48M	USD	1 Quarter
Gross profit	`GrossProfit`	$262.23M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$171.92M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$186.83M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$34.32M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$31.73M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$8.38M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$6.92M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$210.58M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$229.53M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$26.90M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$32.71M	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-525.00K	USD	1 Quarter
Other expense, net	`NonoperatingIncomeExpense`	$-2.61M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$30.10M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$26.38M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$5.83M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$4.68M	USD	1 Quarter
Net income	`NetIncomeLoss`	$20.55M	USD	1 Quarter
Net income	`NetIncomeLoss`	$25.42M	USD	1 Quarter
Net income per share basic	`EarningsPerShareBasic`	$0.83	USD	1 Quarter
Net income per share basic	`EarningsPerShareBasic`	$0.54	USD	1 Quarter
Weighted-average shares basic	`WeightedAverageNumberOfSharesOutstandingBasic`	30.62M	shares	1 Quarter
Weighted-average shares basic	`WeightedAverageNumberOfSharesOutstandingBasic`	38.24M	shares	1 Quarter
Net income per share diluted	`EarningsPerShareDiluted`	$0.80	USD	1 Quarter
Net income per share diluted	`EarningsPerShareDiluted`	$0.52	USD	1 Quarter
Weighted-average shares diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	39.35M	shares	1 Quarter
Weighted-average shares diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	31.74M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$25.42M	USD	1 Quarter
Net income	`NetIncomeLoss`	$20.55M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$15.74M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$15.68M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$3.08M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$3.64M	USD	1 Quarter
Net gain on disposals and impairments of assets	`GainLossOnSalesOfAssetsAndAssetImpairmentCharges`	$433.00K	USD	1 Quarter
Net gain on disposals and impairments of assets	`GainLossOnSalesOfAssetsAndAssetImpairmentCharges`	$70.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$824.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$1.18M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.49M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-6.18M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$2.48M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-1.57M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$4.76M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$4.21M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$5.28M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-13.89M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$5.86M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$123.00K	USD	1 Quarter
Customer prepayments	`IncreaseDecreaseInPrepaymentsFromCustomer`	$3.45M	USD	1 Quarter
Customer prepayments	`IncreaseDecreaseInPrepaymentsFromCustomer`	$2.41M	USD	1 Quarter
Accrued compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-7.57M	USD	1 Quarter
Accrued compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$1.75M	USD	1 Quarter
Other taxes and withholding	`IncreaseDecreaseInPropertyAndOtherTaxesPayable`	$1.25M	USD	1 Quarter
Other taxes and withholding	`IncreaseDecreaseInPropertyAndOtherTaxesPayable`	$1.66M	USD	1 Quarter
Other accruals and liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$3.96M	USD	1 Quarter
Other accruals and liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-1.49M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$68.14M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$49.26M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$8.80M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$19.74M	USD	1 Quarter
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$2.57M	USD	1 Quarter
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$70.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-17.17M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-8.73M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$77.65M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$55.66M	USD	1 Quarter
Net increase in short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$2.96M	USD	1 Quarter
Net increase in short-term borrowings	`ProceedsFromRepaymentsOfShortTermDebt`	$35.96M	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$2.84M	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$857.00K	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$1.01M	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$1.01M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-50.88M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-41.84M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$84.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-1.32M	USD	1 Quarter
Cash and cash equivalents, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.65M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.61M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.70M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.33M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.70M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.33M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.61M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.65M	USD	Point-in-time

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-124.64M	USD	Point-in-time
Balance	`StockholdersEquity`	$36.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$-109.55M	USD	Point-in-time
Balance	`StockholdersEquity`	$89.16M	USD	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	30.21M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	30.87M	shares	Point-in-time
Net income	`NetIncomeLoss`	$25.42M	USD	1 Quarter
Net income	`NetIncomeLoss`	$20.55M	USD	1 Quarter
Exercise of common stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$857.00K	USD	1 Quarter
Exercise of common stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$2.84M	USD	1 Quarter
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$3.08M	USD	1 Quarter
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$3.64M	USD	1 Quarter
Repurchases of common stock	`StockRepurchasedDuringPeriodValue`	$77.65M	USD	1 Quarter
Repurchases of common stock	`StockRepurchasedDuringPeriodValue`	$46.98M	USD	1 Quarter
Balance	`StockholdersEquity`	$-124.64M	USD	Point-in-time
Balance	`StockholdersEquity`	$36.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$-109.55M	USD	Point-in-time
Balance	`StockholdersEquity`	$89.16M	USD	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	30.21M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesOutstanding`	30.87M	shares	Point-in-time

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