10-Q Filing

YETI HOLDINGS, INC. CIK: 1670592 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001670592-21-000010`
Period End Date	20210331
Filing Date	20210513
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	yeti-20210403_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 28 Cash Flow Statement 58 Stockholders Equity 18 Comprehensive Income 6

Balance Sheet 80 line items

Line Item	Tag	Value	Unit	Period
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
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	600.00M	shares	Point-in-time
Common stock, authorized (in shares)	`CommonStockSharesAuthorized`	600.00M	shares	Point-in-time
Common stock issued (in shares)	`CommonStockSharesIssued`	87.24M	shares	Point-in-time
Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$118.22M	USD	Point-in-time
Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$253.28M	USD	Point-in-time
Common stock issued (in shares)	`CommonStockSharesIssued`	87.13M	shares	Point-in-time
Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$190.29M	USD	Point-in-time
Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$72.52M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$67.05M	USD	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	87.24M	shares	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	87.13M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$65.42M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventory	`InventoryNet`	$183.92M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventory	`InventoryNet`	$140.11M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$17.69M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$24.47M	USD	Point-in-time
Preferred stock, authorized (in shares)	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Preferred stock, authorized (in shares)	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$465.74M	USD	Point-in-time
Preferred stock, issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$476.50M	USD	Point-in-time
Preferred stock, issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization`	$78.08M	USD	Point-in-time
Preferred stock, outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization`	$86.74M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$32.34M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$34.09M	USD	Point-in-time
Goodwill	`Goodwill`	$54.29M	USD	Point-in-time
Goodwill	`Goodwill`	$54.29M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$92.25M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$92.08M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.90M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.03M	USD	Point-in-time
Total assets	`Assets`	$737.07M	USD	Point-in-time
Total assets	`Assets`	$733.25M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$123.62M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$120.04M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$89.07M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$72.63M	USD	Point-in-time
Taxes payable	`TaxesPayableCurrent`	$19.77M	USD	Point-in-time
Taxes payable	`TaxesPayableCurrent`	$18.32M	USD	Point-in-time
Accrued payroll and related costs	`EmployeeRelatedLiabilitiesCurrent`	$10.06M	USD	Point-in-time
Accrued payroll and related costs	`EmployeeRelatedLiabilitiesCurrent`	$25.81M	USD	Point-in-time
Current operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$7.80M	USD	Point-in-time
Current operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$8.25M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$22.70M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$22.70M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$253.01M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$287.76M	USD	Point-in-time
Long-term debt, net of current portion	`LongTermDebtNoncurrent`	$111.02M	USD	Point-in-time
Long-term debt, net of current portion	`LongTermDebtNoncurrent`	$105.52M	USD	Point-in-time
Operating lease liabilities, non-current	`OperatingLeaseLiabilityNoncurrent`	$36.55M	USD	Point-in-time
Operating lease liabilities, non-current	`OperatingLeaseLiabilityNoncurrent`	$35.00M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$13.33M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$18.45M	USD	Point-in-time
Total liabilities	`Liabilities`	$411.98M	USD	Point-in-time
Total liabilities	`Liabilities`	$448.65M	USD	Point-in-time
Commitments and contingencies (Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, par value $0.01; 600,000 shares authorized; 87,239 and 87,128 shares issued and outstanding at April 3, 2021 and January 2, 2021, respectively	`CommonStockValue`	$871.00K	USD	Point-in-time
Common stock, par value $0.01; 600,000 shares authorized; 87,239 and 87,128 shares issued and outstanding at April 3, 2021 and January 2, 2021, respectively	`CommonStockValue`	$872.00K	USD	Point-in-time
Preferred stock, par value $0.01; 30,000 shares authorized; no shares issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value $0.01; 30,000 shares authorized; no shares issued or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$323.68M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$321.68M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-3.22M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-33.74M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-58.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-387.00K	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$321.27M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$288.42M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$122.00M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$131.65M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$737.07M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$733.25M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$247.55M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$174.41M	USD	1 Quarter
Cost of goods sold	`CostOfRevenue`	$81.95M	USD	1 Quarter
Cost of goods sold	`CostOfRevenue`	$102.37M	USD	1 Quarter
Gross profit	`GrossProfit`	$145.18M	USD	1 Quarter
Gross profit	`GrossProfit`	$92.46M	USD	1 Quarter
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$76.30M	USD	1 Quarter
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$105.14M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$16.16M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$40.05M	USD	1 Quarter
Interest expense	`InterestExpense`	$854.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$3.11M	USD	1 Quarter
Other expense	`OtherNonoperatingIncomeExpense`	$-298.00K	USD	1 Quarter
Other expense	`OtherNonoperatingIncomeExpense`	$-1.84M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$11.21M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$38.90M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$8.37M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$2.73M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.48M	USD	1 Quarter
Net income	`NetIncomeLoss`	$30.52M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.35	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.10	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.10	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.35	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	87.18M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	86.83M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	88.47M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	87.46M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$8.48M	USD	1 Quarter
Net income	`NetIncomeLoss`	$30.52M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$7.56M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$7.66M	USD	1 Quarter
Amortization of deferred financing fees	`AmortizationOfFinancingCosts`	$177.00K	USD	1 Quarter
Amortization of deferred financing fees	`AmortizationOfFinancingCosts`	$240.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.85M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$3.42M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$4.54M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$4.64M	USD	1 Quarter
Impairment of long-lived assets	`ImpairmentOfLongLivedAssetsHeldForUse`	-	USD	1 Quarter
Impairment of long-lived assets	`ImpairmentOfLongLivedAssetsHeldForUse`	$291.00K	USD	1 Quarter
Other	`ForeignCurrencyTransactionGainLossBeforeTax`	$-1.04M	USD	1 Quarter
Other	`ForeignCurrencyTransactionGainLossBeforeTax`	$-1.79M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.91M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-21.52M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$43.63M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$17.88M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$242.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$6.78M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-21.29M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-37.51M	USD	1 Quarter
Taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$-1.98M	USD	1 Quarter
Taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$1.46M	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-406.00K	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$912.00K	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.81M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-40.32M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.78M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$13.27M	USD	1 Quarter
Additions of intangibles, net	`ProceedsFromPaymentsForIntangibleAssets`	$2.01M	USD	1 Quarter
Additions of intangibles, net	`ProceedsFromPaymentsForIntangibleAssets`	$1.72M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.79M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-14.98M	USD	1 Quarter
Repayments of long-term debt	`RepaymentsOfLongTermDebt`	$5.62M	USD	1 Quarter
Repayments of long-term debt	`RepaymentsOfLongTermDebt`	$3.75M	USD	1 Quarter
Taxes paid in connection with employee stock transactions	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$704.00K	USD	1 Quarter
Taxes paid in connection with employee stock transactions	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.70M	USD	1 Quarter
Proceeds from employee stock transactions	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$287.00K	USD	1 Quarter
Proceeds from employee stock transactions	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$165.00K	USD	1 Quarter
Finance lease principal payment	`PaymentForFinanceLeasePrincipalPayment`	$45.00K	USD	1 Quarter
Finance lease principal payment	`PaymentForFinanceLeasePrincipalPayment`	$48.00K	USD	1 Quarter
Borrowings under revolving credit facility	`ProceedsFromLinesOfCredit`	-	USD	1 Quarter
Borrowings under revolving credit facility	`ProceedsFromLinesOfCredit`	$50.00M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$45.67M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-7.09M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$23.00K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-601.00K	USD	1 Quarter
Net (decrease) increase in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$45.70M	USD	1 Quarter
Net (decrease) increase in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-62.99M	USD	1 Quarter
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$118.22M	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$253.28M	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$190.29M	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$72.52M	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$118.22M	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$253.28M	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$190.29M	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$72.52M	USD	Point-in-time

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Balance at beginning of the period	`StockholdersEquity`	$321.27M	USD	Point-in-time
Balance at beginning of the period	`StockholdersEquity`	$288.42M	USD	Point-in-time
Balance at beginning of the period	`StockholdersEquity`	$122.00M	USD	Point-in-time
Balance at beginning of the period	`StockholdersEquity`	$131.65M	USD	Point-in-time
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$1.85M	USD	1 Quarter
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$3.42M	USD	1 Quarter
Common stock issued under employee benefit plans	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	$287.00K	USD	1 Quarter
Common stock issued under employee benefit plans	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	$165.00K	USD	1 Quarter
Common stock withheld related to net share settlement of stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$-704.00K	USD	1 Quarter
Common stock withheld related to net share settlement of stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$-1.70M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$329.00K	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-154.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.48M	USD	1 Quarter
Net income	`NetIncomeLoss`	$30.52M	USD	1 Quarter
Balance at end of the period	`StockholdersEquity`	$321.27M	USD	Point-in-time
Balance at end of the period	`StockholdersEquity`	$288.42M	USD	Point-in-time
Balance at end of the period	`StockholdersEquity`	$122.00M	USD	Point-in-time
Balance at end of the period	`StockholdersEquity`	$131.65M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$8.48M	USD	1 Quarter
Net income	`NetIncomeLoss`	$30.52M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-154.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$329.00K	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$8.33M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$30.85M	USD	1 Quarter

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