10-Q Filing

SITEONE LANDSCAPE SUPPLY, INC. CIK: 1650729 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001650729-18-000009`
Period End Date	20180331
Filing Date	20180502
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	site-20180401.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 28 Cash Flow Statement 70 Comprehensive Income 8

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$4.70M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$5.80M	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`	$16.70M	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`	$31.70M	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
Common stock, shares issued	`CommonStockSharesIssued`	39.98M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $5.8 and $4.7, respectively	`AccountsReceivableNetCurrent`	$233.00M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	40.17M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $5.8 and $4.7, respectively	`AccountsReceivableNetCurrent`	$219.90M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	39.96M	shares	Point-in-time
Inventory, net	`InventoryNet`	$338.30M	USD	Point-in-time
Inventory, net	`InventoryNet`	$464.30M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	40.15M	shares	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$2.70M	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$13.90M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$24.30M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$28.40M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$771.30M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$601.90M	USD	Point-in-time
Property and equipment, net (Note 5)	`PropertyPlantAndEquipmentNet`	$75.50M	USD	Point-in-time
Property and equipment, net (Note 5)	`PropertyPlantAndEquipmentNet`	$79.20M	USD	Point-in-time
Goodwill (Note 6)	`Goodwill`	$122.20M	USD	Point-in-time
Goodwill (Note 6)	`Goodwill`	$106.50M	USD	Point-in-time
Intangible assets, net (Note 6)	`IntangibleAssetsNetExcludingGoodwill`	$112.80M	USD	Point-in-time
Intangible assets, net (Note 6)	`IntangibleAssetsNetExcludingGoodwill`	$127.70M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$18.20M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$14.00M	USD	Point-in-time
Total assets	`Assets`	$910.70M	USD	Point-in-time
Total assets	`Assets`	$1.12B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$236.80M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$124.10M	USD	Point-in-time
Current portion of capital leases (Note 7)	`CapitalLeaseObligationsCurrent`	$5.10M	USD	Point-in-time
Current portion of capital leases (Note 7)	`CapitalLeaseObligationsCurrent`	$4.90M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$40.10M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$27.80M	USD	Point-in-time
Long term debt, current portion (Note 9)	`LongTermDebtCurrent`	$3.50M	USD	Point-in-time
Long term debt, current portion (Note 9)	`LongTermDebtCurrent`	$3.50M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$37.70M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$33.20M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$205.80M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$310.90M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$16.80M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$12.50M	USD	Point-in-time
Capital leases, less current portion (Note 7)	`CapitalLeaseObligationsNoncurrent`	$8.90M	USD	Point-in-time
Capital leases, less current portion (Note 7)	`CapitalLeaseObligationsNoncurrent`	$6.80M	USD	Point-in-time
Deferred tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	$12.50M	USD	Point-in-time
Deferred tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	$8.40M	USD	Point-in-time
Long-term debt, less current portion (Note 9)	`LongTermDebtNoncurrent`	$572.70M	USD	Point-in-time
Long-term debt, less current portion (Note 9)	`LongTermDebtNoncurrent`	$460.10M	USD	Point-in-time
Total liabilities	`Liabilities`	$697.90M	USD	Point-in-time
Total liabilities	`Liabilities`	$917.50M	USD	Point-in-time
Commitments and contingencies (Note 12)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 12)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, par value $0.01; 1,000,000,000 shares authorized; 40,170,993 and 39,977,181 shares issued, and 40,150,082 and 39,956,270 shares outstanding at April 1, 2018 and December 31, 2017, respectively	`CommonStockValue`	$400.00K	USD	Point-in-time
Common stock, par value $0.01; 1,000,000,000 shares authorized; 40,170,993 and 39,977,181 shares issued, and 40,150,082 and 39,956,270 shares outstanding at April 1, 2018 and December 31, 2017, respectively	`CommonStockValue`	$400.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$230.80M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$227.80M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-15.10M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-30.80M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$700.00K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-300.00K	USD	Point-in-time
Total equity	`StockholdersEquity`	$201.10M	USD	Point-in-time
Total equity	`StockholdersEquity`	$212.80M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$1.12B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$910.70M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$371.40M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$335.00M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSoldExcludingDepreciationDepletionAndAmortization`	$234.10M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSoldExcludingDepreciationDepletionAndAmortization`	$262.90M	USD	1 Quarter
Gross profit	`GrossProfit`	$108.50M	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`	$131.70M	USD	1 Quarter
Other income	`OtherOperatingIncome`	$2.60M	USD	1 Quarter
Other income	`OtherOperatingIncome`	$900.00K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-11.90M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-20.60M	USD	1 Quarter
Interest and other non-operating expenses, net	`InterestExpense`	$6.20M	USD	1 Quarter
Interest and other non-operating expenses, net	`InterestExpense`	$6.60M	USD	1 Quarter
Net loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-27.20M	USD	1 Quarter
Net loss before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-18.10M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-10.20M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-7.60M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-10.50M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-17.00M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.26	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.43	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.26	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.43	USD	1 Quarter
Basic (shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	40.07M	shares	1 Quarter
Basic (shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	39.62M	shares	1 Quarter
Diluted (shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	39.62M	shares	1 Quarter
Diluted (shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	40.07M	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`	$-17.00M	USD	1 Quarter
Depreciation	`Depreciation`	$4.80M	USD	1 Quarter
Depreciation	`Depreciation`	$4.00M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$2.10M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.40M	USD	1 Quarter
Amortization of software and intangible assets	`AmortizationofSoftwareandIntangibleAssets`	$6.90M	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`	$800.00K	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`	$-1.30M	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$29.10M	USD	1 Quarter
Receivables	`IncreaseDecreaseInReceivables`	$4.10M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$109.30M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$87.10M	USD	1 Quarter
Income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$7.50M	USD	1 Quarter
Income tax receivable	`IncreaseDecreaseInIncomeTaxesReceivable`	$9.70M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$3.50M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$5.40M	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`	$-12.90M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-13.90M	USD	1 Quarter
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-40.80M	USD	1 Quarter
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-54.70M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.00M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.80M	USD	1 Quarter
Purchases of intangible assets	`PaymentsToAcquireIntangibleAssets`	-	USD	1 Quarter
Purchases of intangible assets	`PaymentsToAcquireIntangibleAssets`	$1.90M	USD	1 Quarter
Acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$56.20M	USD	1 Quarter
Acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$51.60M	USD	1 Quarter
Proceeds from the sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$200.00K	USD	1 Quarter
Proceeds from the sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	1 Quarter
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-59.00M	USD	1 Quarter
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-55.30M	USD	1 Quarter
Equity proceeds from common stock	`ProceedsFromIssuanceOfCommonStock`	$1.40M	USD	1 Quarter
Equity proceeds from common stock	`ProceedsFromIssuanceOfCommonStock`	$300.00K	USD	1 Quarter
Repayments under term loan	`RepaymentsOfSeniorDebt`	$700.00K	USD	1 Quarter
Repayments under term loan	`RepaymentsOfSeniorDebt`	$900.00K	USD	1 Quarter
Borrowings on asset-based credit facility	`ProceedsFromLinesOfCredit`	$162.00M	USD	1 Quarter
Borrowings on asset-based credit facility	`ProceedsFromLinesOfCredit`	$168.50M	USD	1 Quarter
Repayments on asset-based credit facility	`RepaymentsOfLinesOfCredit`	$55.80M	USD	1 Quarter
Repayments on asset-based credit facility	`RepaymentsOfLinesOfCredit`	$47.20M	USD	1 Quarter
Payments on capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$1.10M	USD	1 Quarter
Payments on capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$1.70M	USD	1 Quarter
Other financing activities	`ProceedsFromPaymentsForOtherFinancingActivities`	$-300.00K	USD	1 Quarter
Other financing activities	`ProceedsFromPaymentsForOtherFinancingActivities`	-	USD	1 Quarter
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$111.20M	USD	1 Quarter
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$113.30M	USD	1 Quarter
Effect of exchange rate on cash	`EffectOfExchangeRateOnCash`	-	USD	1 Quarter
Effect of exchange rate on cash	`EffectOfExchangeRateOnCash`	$-100.00K	USD	1 Quarter
Net Change In Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$15.00M	USD	1 Quarter
Net Change In Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-400.00K	USD	1 Quarter
Beginning	`CashAndCashEquivalentsAtCarryingValue`	$16.70M	USD	Point-in-time
Beginning	`CashAndCashEquivalentsAtCarryingValue`	$15.90M	USD	Point-in-time
Beginning	`CashAndCashEquivalentsAtCarryingValue`	$31.70M	USD	Point-in-time
Beginning	`CashAndCashEquivalentsAtCarryingValue`	$16.30M	USD	Point-in-time
Ending	`CashAndCashEquivalentsAtCarryingValue`	$16.70M	USD	Point-in-time
Ending	`CashAndCashEquivalentsAtCarryingValue`	$15.90M	USD	Point-in-time
Ending	`CashAndCashEquivalentsAtCarryingValue`	$31.70M	USD	Point-in-time
Ending	`CashAndCashEquivalentsAtCarryingValue`	$16.30M	USD	Point-in-time
Cash paid during the year for interest	`InterestPaid`	$5.40M	USD	1 Quarter
Cash paid during the year for interest	`InterestPaid`	$5.80M	USD	1 Quarter
Cash paid during the year for income taxes	`IncomeTaxesPaidNet`	$100.00K	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`	$3.20M	USD	1 Quarter
Acquisition of property and equipment through capital leases	`AcquisitionofPropertyandEquipmentThroughCapitalLeases`	$1.20M	USD	1 Quarter

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-10.50M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-17.00M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-200.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$100.00K	USD	1 Quarter
Unrealized gains on interest rate swaps, net of taxes	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	-	USD	1 Quarter
Unrealized gains on interest rate swaps, net of taxes	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	$1.20M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-16.00M	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.