10-Q Filing

HERBALIFE LTD. CIK: 1180262 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001564590-20-022907`
Period End Date	20200331
Filing Date	20200507
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	hlf-10q_20200331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 31 Cash Flow Statement 58 Comprehensive Income 13

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Common shares, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common shares, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common shares, shares authorized	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Common shares, shares authorized	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Common shares, shares outstanding	`CommonStockSharesOutstanding`	137.70M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$944.20M	USD	Point-in-time
Common shares, shares outstanding	`CommonStockSharesOutstanding`	137.40M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$839.40M	USD	Point-in-time
Treasury stock shares, at cost	`TreasuryStockCommonShares`	10.00M	shares	Point-in-time
Receivables, net of allowance for doubtful accounts	`ReceivablesNetCurrent`	$79.70M	USD	Point-in-time
Receivables, net of allowance for doubtful accounts	`ReceivablesNetCurrent`	$79.20M	USD	Point-in-time
Treasury stock shares, at cost	`TreasuryStockCommonShares`	10.00M	shares	Point-in-time
Inventories	`InventoryNet`	$436.20M	USD	Point-in-time
Inventories	`InventoryNet`	$400.60M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$147.70M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$132.90M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.49B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.57B	USD	Point-in-time
Property, plant, and equipment, at cost, net of accumulated depreciation and amortization	`PropertyPlantAndEquipmentNet`	$371.50M	USD	Point-in-time
Property, plant, and equipment, at cost, net of accumulated depreciation and amortization	`PropertyPlantAndEquipmentNet`	$365.60M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$189.50M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$180.10M	USD	Point-in-time
Marketing-related intangibles and other intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$310.10M	USD	Point-in-time
Marketing-related intangibles and other intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$310.10M	USD	Point-in-time
Goodwill	`Goodwill`	$91.50M	USD	Point-in-time
Goodwill	`Goodwill`	$85.70M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$227.80M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$202.10M	USD	Point-in-time
Total assets	`Assets`	$2.68B	USD	Point-in-time
Total assets	`Assets`	$2.72B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$81.60M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$82.60M	USD	Point-in-time
Royalty overrides	`AccruedRoyaltyOverrides`	$250.70M	USD	Point-in-time
Royalty overrides	`AccruedRoyaltyOverrides`	$294.10M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$24.10M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$23.10M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$628.00M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$564.60M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$964.40M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$984.40M	USD	Point-in-time
Long-term debt, net of current portion	`LongTermDebtNoncurrent`	$1.78B	USD	Point-in-time
Long-term debt, net of current portion	`LongTermDebtNoncurrent`	$1.81B	USD	Point-in-time
Non-current operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$165.60M	USD	Point-in-time
Non-current operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$169.90M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$143.10M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$155.40M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.07B	USD	Point-in-time
Total liabilities	`Liabilities`	$3.10B	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common shares, $0.0005 par value; 2.0 billion shares authorized; 137.7 million (2020) and 137.4 million (2019) shares outstanding	`CommonStockValue`	$100.00K	USD	Point-in-time
Common shares, $0.0005 par value; 2.0 billion shares authorized; 137.7 million (2020) and 137.4 million (2019) shares outstanding	`CommonStockValue`	$100.00K	USD	Point-in-time
Paid-in capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$373.00M	USD	Point-in-time
Paid-in capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$366.60M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-212.50M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-263.00M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-169.70M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-215.30M	USD	Point-in-time
Treasury stock, at cost, 10.0 million (2020) and 10.0 million (2019) shares	`TreasuryStockValue`	$328.90M	USD	Point-in-time
Treasury stock, at cost, 10.0 million (2020) and 10.0 million (2019) shares	`TreasuryStockValue`	$328.90M	USD	Point-in-time
Total shareholders deficit	`StockholdersEquity`	$-723.40M	USD	Point-in-time
Total shareholders deficit	`StockholdersEquity`	$-629.10M	USD	Point-in-time
Total shareholders deficit	`StockholdersEquity`	$-390.00M	USD	Point-in-time
Total shareholders deficit	`StockholdersEquity`	$-388.50M	USD	Point-in-time
Total liabilities and shareholders deficit	`LiabilitiesAndStockholdersEquity`	$2.72B	USD	Point-in-time
Total liabilities and shareholders deficit	`LiabilitiesAndStockholdersEquity`	$2.68B	USD	Point-in-time

Income Statement 31 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.26B	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.17B	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$241.60M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$245.70M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.02B	USD	1 Quarter
Gross profit	`GrossProfit`	$930.60M	USD	1 Quarter
Royalty overrides	`RoyaltyOverrides`	$359.50M	USD	1 Quarter
Royalty overrides	`RoyaltyOverrides`	$381.20M	USD	1 Quarter
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$549.00M	USD	1 Quarter
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$435.40M	USD	1 Quarter
Other operating income	`OtherOperatingIncomeExpenseNet`	$27.30M	USD	1 Quarter
Other operating income	`OtherOperatingIncomeExpenseNet`	$9.10M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$163.00M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$95.60M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-36.10M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-25.00M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$8.50M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$135.40M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$70.60M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$25.00M	USD	1 Quarter
Income taxes	`IncomeTaxExpenseBenefit`	$39.10M	USD	1 Quarter
Net income	`NetIncomeLoss`	$45.60M	USD	1 Quarter
Net income	`NetIncomeLoss`	$96.30M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.33	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.70	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.32	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.66	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	137.80M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	137.10M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	145.50M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	140.20M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$96.30M	USD	1 Quarter
Net income	`ProfitLoss`	$45.60M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$24.20M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$24.40M	USD	1 Quarter
Share-based compensation expenses	`ShareBasedCompensation`	$10.30M	USD	1 Quarter
Share-based compensation expenses	`ShareBasedCompensation`	$10.60M	USD	1 Quarter
Non-cash interest expense	`AmortizationOfFinancingCostsAndDiscounts`	$13.90M	USD	1 Quarter
Non-cash interest expense	`AmortizationOfFinancingCostsAndDiscounts`	$6.30M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$7.40M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$400.00K	USD	1 Quarter
Inventory write-downs	`InventoryWriteDown`	$5.30M	USD	1 Quarter
Inventory write-downs	`InventoryWriteDown`	$3.60M	USD	1 Quarter
Foreign exchange transaction loss	`ForeignExchangeTransactionGainLoss`	$-8.50M	USD	1 Quarter
Foreign exchange transaction loss	`ForeignExchangeTransactionGainLoss`	$-4.50M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$6.80M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$5.00M	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$23.10M	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$7.80M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$7.40M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$27.90M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-26.90M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$18.10M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.90M	USD	1 Quarter
Royalty overrides	`RoyaltyOverridesIncreaseDecrease`	$-21.50M	USD	1 Quarter
Royalty overrides	`RoyaltyOverridesIncreaseDecrease`	$-22.90M	USD	1 Quarter
Other current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-72.20M	USD	1 Quarter
Other current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$92.90M	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-5.70M	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-1.20M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$38.50M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$141.70M	USD	1 Quarter
Purchases of property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$27.00M	USD	1 Quarter
Purchases of property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$24.40M	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-100.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-27.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-24.30M	USD	1 Quarter
Borrowings from senior secured credit facility, net of discount	`ProceedsFromIssuanceOfSeniorLongTermDebt`	$30.20M	USD	1 Quarter
Principal payments on senior secured credit facility and other debt	`RepaymentsOfSeniorDebt`	$5.30M	USD	1 Quarter
Principal payments on senior secured credit facility and other debt	`RepaymentsOfSeniorDebt`	$5.10M	USD	1 Quarter
Share repurchases	`PaymentsForRepurchaseOfCommonStock`	$7.60M	USD	1 Quarter
Share repurchases	`PaymentsForRepurchaseOfCommonStock`	$4.70M	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$800.00K	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$800.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-11.90M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$21.00M	USD	1 Quarter
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.40M	USD	1 Quarter
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-33.80M	USD	1 Quarter
Net change in cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$104.60M	USD	1 Quarter
Net change in cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$4.00M	USD	1 Quarter
Cash, cash equivalents, and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.22B	USD	Point-in-time
Cash, cash equivalents, and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$952.10M	USD	Point-in-time
Cash, cash equivalents, and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$847.50M	USD	Point-in-time
Cash, cash equivalents, and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.22B	USD	Point-in-time
Cash, cash equivalents, and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.22B	USD	Point-in-time
Cash, cash equivalents, and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$952.10M	USD	Point-in-time
Cash, cash equivalents, and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$847.50M	USD	Point-in-time
Cash, cash equivalents, and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.22B	USD	Point-in-time

Comprehensive Income 13 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$45.60M	USD	1 Quarter
Foreign currency translation adjustment, tax	`OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent`	$-2.50M	USD	1 Quarter
Foreign currency translation adjustment, tax	`OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent`	$500.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$96.30M	USD	1 Quarter
Unrealized gain (loss) on derivatives, tax	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesTaxPortionAttributableToParent`	$-300.00K	USD	1 Quarter
Foreign currency translation adjustment, net of income taxes of $(2.5) and $0.5 for the three months ended March 31, 2020 and 2019, respectively	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-57.10M	USD	1 Quarter
Foreign currency translation adjustment, net of income taxes of $(2.5) and $0.5 for the three months ended March 31, 2020 and 2019, respectively	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$7.10M	USD	1 Quarter
Unrealized gain (loss) on derivatives, net of income taxes of $(0.3) and $ for the three months ended March 31, 2020 and 2019, respectively	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	$-1.40M	USD	1 Quarter
Unrealized gain (loss) on derivatives, net of income taxes of $(0.3) and $ for the three months ended March 31, 2020 and 2019, respectively	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	$6.60M	USD	1 Quarter
Total other comprehensive (loss) income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$5.70M	USD	1 Quarter
Total other comprehensive (loss) income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-50.50M	USD	1 Quarter
Total comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$102.00M	USD	1 Quarter
Total comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$-4.90M	USD	1 Quarter

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