10-Q Filing

SITEONE LANDSCAPE SUPPLY, INC. CIK: 1650729 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001650729-17-000007`
Period End Date	20170331
Filing Date	20170510
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	site-20170402.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 32 Cash Flow Statement 70 Comprehensive Income 6

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$3.80M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$4.30M	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.90M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	1.00B	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.30M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.50M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.10M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	1.00B	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $3.8 and $4.3, respectively	`AccountsReceivableNetCurrent`	$169.00M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	39.65M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $3.8 and $4.3, respectively	`AccountsReceivableNetCurrent`	$200.20M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	39.60M	shares	Point-in-time
Inventory, net	`InventoryNet`	$389.30M	USD	Point-in-time
Inventory, net	`InventoryNet`	$289.60M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	39.63M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	39.58M	shares	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$1.60M	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$8.70M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$13.50M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$19.40M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$490.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$633.50M	USD	Point-in-time
Property and equipment, net (Note 3)	`PropertyPlantAndEquipmentNet`	$71.60M	USD	Point-in-time
Property and equipment, net (Note 3)	`PropertyPlantAndEquipmentNet`	$69.80M	USD	Point-in-time
Goodwill (Note 4)	`Goodwill`	$70.80M	USD	Point-in-time
Goodwill (Note 4)	`Goodwill`	$107.90M	USD	Point-in-time
Intangible assets, net (Note 4)	`IntangibleAssetsNetExcludingGoodwill`	$112.60M	USD	Point-in-time
Intangible assets, net (Note 4)	`IntangibleAssetsNetExcludingGoodwill`	$103.30M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$9.40M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$8.70M	USD	Point-in-time
Total assets	`Assets`	$935.00M	USD	Point-in-time
Total assets	`Assets`	$742.60M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$108.30M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$197.30M	USD	Point-in-time
Current portion of capital leases (Note 5)	`CapitalLeaseObligationsCurrent`	$4.30M	USD	Point-in-time
Current portion of capital leases (Note 5)	`CapitalLeaseObligationsCurrent`	$4.50M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$23.90M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$36.70M	USD	Point-in-time
Long term debt, current portion (Note 7)	`LongTermDebtCurrent`	$3.00M	USD	Point-in-time
Long term debt, current portion (Note 7)	`LongTermDebtCurrent`	$3.00M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$35.60M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$33.20M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$264.30M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$185.50M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$14.50M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$9.10M	USD	Point-in-time
Capital leases, less current portion (Note 5)	`CapitalLeaseObligationsNoncurrent`	$6.60M	USD	Point-in-time
Capital leases, less current portion (Note 5)	`CapitalLeaseObligationsNoncurrent`	$6.70M	USD	Point-in-time
Deferred tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	$20.00M	USD	Point-in-time
Deferred tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	$22.50M	USD	Point-in-time
Long-term debt, less current portion (Note 7)	`LongTermDebtNoncurrent`	$372.50M	USD	Point-in-time
Long-term debt, less current portion (Note 7)	`LongTermDebtNoncurrent`	$487.20M	USD	Point-in-time
Total liabilities	`Liabilities`	$593.80M	USD	Point-in-time
Total liabilities	`Liabilities`	$795.10M	USD	Point-in-time
Commitments and contingencies (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, par value $0.01; 1,000,000,000 shares authorized; 39,650,124 and 39,597,532 shares issued, and 39,629,213 and 39,576,621 shares outstanding at April 2, 2017 and January 1, 2017, respectively	`CommonStockValue`	$400.00K	USD	Point-in-time
Common stock, par value $0.01; 1,000,000,000 shares authorized; 39,650,124 and 39,597,532 shares issued, and 39,629,213 and 39,576,621 shares outstanding at April 2, 2017 and January 1, 2017, respectively	`CommonStockValue`	$400.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$220.80M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$219.30M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-69.70M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-80.20M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.10M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.20M	USD	Point-in-time
Total equity	`StockholdersEquity`	$148.80M	USD	Point-in-time
Total equity	`StockholdersEquity`	$139.90M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$935.00M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$742.60M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$328.50M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$335.00M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSoldExcludingDepreciationDepletionAndAmortization`	$231.50M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSoldExcludingDepreciationDepletionAndAmortization`	$234.10M	USD	1 Quarter
Gross profit	`GrossProfit`	$97.00M	USD	1 Quarter
Gross profit	`GrossProfit`	$100.90M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$113.70M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$104.60M	USD	1 Quarter
Other income	`OtherOperatingIncome`	$1.20M	USD	1 Quarter
Other income	`OtherOperatingIncome`	$900.00K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-11.90M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-6.40M	USD	1 Quarter
Interest and other non-operating expenses, net	`InterestExpense`	$2.60M	USD	1 Quarter
Interest and other non-operating expenses, net	`InterestExpense`	$6.20M	USD	1 Quarter
Net loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-18.10M	USD	1 Quarter
Net loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-9.00M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-3.40M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-7.60M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-10.50M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.60M	USD	1 Quarter
Less: Redeemable convertible preferred stock dividends	`RedeemablePreferredStockDividends`	-	USD	1 Quarter
Less: Redeemable convertible preferred stock dividends	`RedeemablePreferredStockDividends`	$6.50M	USD	1 Quarter
Net loss attributable to common shares	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-10.50M	USD	1 Quarter
Net loss attributable to common shares	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-12.10M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.85	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.26	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.85	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.26	USD	1 Quarter
Basic (shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	39.62M	shares	1 Quarter
Basic (shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	14.25M	shares	1 Quarter
Diluted (shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.25M	shares	1 Quarter
Diluted (shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	39.62M	shares	1 Quarter

Cash Flow Statement 70 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-10.50M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.60M	USD	1 Quarter
Depreciation	`Depreciation`	$3.40M	USD	1 Quarter
Depreciation	`Depreciation`	$4.00M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$700.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.40M	USD	1 Quarter
Amortization of software and intangible assets	`AmortizationofSoftwareandIntangibleAssets`	$5.20M	USD	1 Quarter
Amortization of software and intangible assets	`AmortizationofSoftwareandIntangibleAssets`	$5.80M	USD	1 Quarter
Amortization of debt related costs	`AmortizationOfFinancingCostsAndDiscounts`	$700.00K	USD	1 Quarter
Amortization of debt related costs	`AmortizationOfFinancingCostsAndDiscounts`	$600.00K	USD	1 Quarter
(Gain) loss on sale of equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$100.00K	USD	1 Quarter
(Gain) loss on sale of equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-100.00K	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	-	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$-200.00K	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$29.10M	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$44.20M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$43.80M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$87.10M	USD	1 Quarter
Income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$7.50M	USD	1 Quarter
Income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$3.30M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$5.40M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$103.50M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$85.80M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-5.20M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-12.90M	USD	1 Quarter
Net Cash Provided By (Used In) Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-54.70M	USD	1 Quarter
Net Cash Provided By (Used In) Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$10.00M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.80M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.90M	USD	1 Quarter
Acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$56.20M	USD	1 Quarter
Acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$31.20M	USD	1 Quarter
Proceeds from the sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	1 Quarter
Proceeds from the sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$100.00K	USD	1 Quarter
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-59.00M	USD	1 Quarter
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-33.00M	USD	1 Quarter
Equity proceeds from common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Equity proceeds from common stock	`ProceedsFromIssuanceOfCommonStock`	$300.00K	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$100.00K	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Other dividends paid	`PaymentsOfOrdinaryDividends`	$6.50M	USD	1 Quarter
Other dividends paid	`PaymentsOfOrdinaryDividends`	-	USD	1 Quarter
Repayments under term loan	`RepaymentsOfSeniorDebt`	$700.00K	USD	1 Quarter
Repayments under term loan	`RepaymentsOfSeniorDebt`	$400.00K	USD	1 Quarter
Borrowings on asset-based credit facility	`ProceedsFromLinesOfCredit`	$162.00M	USD	1 Quarter
Borrowings on asset-based credit facility	`ProceedsFromLinesOfCredit`	$90.80M	USD	1 Quarter
Repayments on asset-based credit facility	`RepaymentsOfLinesOfCredit`	$47.20M	USD	1 Quarter
Repayments on asset-based credit facility	`RepaymentsOfLinesOfCredit`	$59.40M	USD	1 Quarter
Payments on capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$1.10M	USD	1 Quarter
Payments on capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$1.10M	USD	1 Quarter
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$113.30M	USD	1 Quarter
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$23.30M	USD	1 Quarter
Effect of exchange rate on cash	`EffectOfExchangeRateOnCash`	$100.00K	USD	1 Quarter
Effect of exchange rate on cash	`EffectOfExchangeRateOnCash`	-	USD	1 Quarter
Net Change In Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$400.00K	USD	1 Quarter
Net Change In Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-400.00K	USD	1 Quarter
Beginning	`CashAndCashEquivalentsAtCarryingValue`	$15.90M	USD	Point-in-time
Beginning	`CashAndCashEquivalentsAtCarryingValue`	$16.30M	USD	Point-in-time
Beginning	`CashAndCashEquivalentsAtCarryingValue`	$20.50M	USD	Point-in-time
Beginning	`CashAndCashEquivalentsAtCarryingValue`	$20.10M	USD	Point-in-time
Ending	`CashAndCashEquivalentsAtCarryingValue`	$15.90M	USD	Point-in-time
Ending	`CashAndCashEquivalentsAtCarryingValue`	$16.30M	USD	Point-in-time
Ending	`CashAndCashEquivalentsAtCarryingValue`	$20.50M	USD	Point-in-time
Ending	`CashAndCashEquivalentsAtCarryingValue`	$20.10M	USD	Point-in-time
Cash paid during the year for interest	`InterestPaid`	$2.00M	USD	1 Quarter
Cash paid during the year for interest	`InterestPaid`	$5.40M	USD	1 Quarter
Cash paid during the year for income taxes	`IncomeTaxesPaidNet`	$300.00K	USD	1 Quarter
Cash paid during the year for income taxes	`IncomeTaxesPaidNet`	$400.00K	USD	1 Quarter
Acquisition of property and equipment through capital leases	`AcquisitionofPropertyandEquipmentThroughCapitalLeases`	$100.00K	USD	1 Quarter
Acquisition of property and equipment through capital leases	`AcquisitionofPropertyandEquipmentThroughCapitalLeases`	$1.20M	USD	1 Quarter

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-10.50M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.60M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$100.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$300.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-5.30M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-10.40M	USD	1 Quarter

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