10-Q Filing

YETI HOLDINGS, INC. CIK: 1670592 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001670592-22-000021`
Period End Date	20220331
Filing Date	20220511
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	yeti-20220402_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 83 Income Statement 28 Cash Flow Statement 58 Stockholders Equity 20 Comprehensive Income 6

Balance Sheet 83 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`	87.84M	shares	Point-in-time
Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$100.33M	USD	Point-in-time
Common stock issued (in shares)	`CommonStockSharesIssued`	87.73M	shares	Point-in-time
Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$312.19M	USD	Point-in-time
Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$253.28M	USD	Point-in-time
Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$190.29M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$109.53M	USD	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	86.16M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$82.99M	USD	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	87.73M	shares	Point-in-time
Inventory	`InventoryNet`	$413.04M	USD	Point-in-time
Inventory	`InventoryNet`	$318.86M	USD	Point-in-time
Treasury stock, shares (in shares)	`TreasuryStockShares`	1,677.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$39.58M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$29.58M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, authorized (in shares)	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$635.94M	USD	Point-in-time
Preferred stock, authorized (in shares)	`PreferredStockSharesAuthorized`	30.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$770.17M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization`	$123.88M	USD	Point-in-time
Preferred stock, issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization`	$119.04M	USD	Point-in-time
Preferred stock, issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$55.77M	USD	Point-in-time
Preferred stock, outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$54.97M	USD	Point-in-time
Goodwill	`Goodwill`	$54.29M	USD	Point-in-time
Goodwill	`Goodwill`	$54.29M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$95.31M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$97.09M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.58M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.55M	USD	Point-in-time
Total assets	`Assets`	$1.10B	USD	Point-in-time
Total assets	`Assets`	$969.53M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$167.41M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$191.32M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$121.80M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$132.31M	USD	Point-in-time
Taxes payable	`TaxesPayableCurrent`	$17.51M	USD	Point-in-time
Taxes payable	`TaxesPayableCurrent`	$14.51M	USD	Point-in-time
Accrued payroll and related costs	`EmployeeRelatedLiabilitiesCurrent`	$30.84M	USD	Point-in-time
Accrued payroll and related costs	`EmployeeRelatedLiabilitiesCurrent`	$7.44M	USD	Point-in-time
Current operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$10.17M	USD	Point-in-time
Current operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$11.33M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$24.57M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$24.56M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$350.07M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$403.71M	USD	Point-in-time
Long-term debt, net of current portion	`LongTermDebtNoncurrent`	$89.57M	USD	Point-in-time
Long-term debt, net of current portion	`LongTermDebtNoncurrent`	$95.74M	USD	Point-in-time
Operating lease liabilities, non-current	`OperatingLeaseLiabilityNoncurrent`	$55.94M	USD	Point-in-time
Operating lease liabilities, non-current	`OperatingLeaseLiabilityNoncurrent`	$55.24M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$28.28M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$23.15M	USD	Point-in-time
Total liabilities	`Liabilities`	$523.16M	USD	Point-in-time
Total liabilities	`Liabilities`	$578.54M	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, par value $0.01; 600,000 shares authorized; 87,836 and 86,159 shares issued and outstanding at April 2, 2022, respectively, and 87,727 shares issued and outstanding at January 2, 2021, respectively	`CommonStockValue`	$877.00K	USD	Point-in-time
Common stock, par value $0.01; 600,000 shares authorized; 87,836 and 86,159 shares issued and outstanding at April 2, 2022, respectively, and 87,727 shares issued and outstanding at January 2, 2021, respectively	`CommonStockValue`	$878.00K	USD	Point-in-time
Treasury stock, at cost; 1,677 shares at April 2, 2022	`TreasuryStockValue`	$100.03M	USD	Point-in-time
Treasury stock, at cost; 1,677 shares at April 2, 2022	`TreasuryStockValue`	-	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`	$341.21M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$337.74M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$178.86M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$204.52M	USD	Point-in-time
Accumulated other comprehensive (loss) income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-211.00K	USD	Point-in-time
Accumulated other comprehensive (loss) income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$353.00K	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$288.42M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$517.82M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$446.37M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$321.27M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$1.10B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$969.53M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$293.63M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$247.55M	USD	1 Quarter
Cost of goods sold	`CostOfRevenue`	$102.37M	USD	1 Quarter
Cost of goods sold	`CostOfRevenue`	$138.77M	USD	1 Quarter
Gross profit	`GrossProfit`	$145.18M	USD	1 Quarter
Gross profit	`GrossProfit`	$154.86M	USD	1 Quarter
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$105.14M	USD	1 Quarter
Selling, general, and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$121.57M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$33.29M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$40.05M	USD	1 Quarter
Interest expense	`InterestExpense`	$854.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$766.00K	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-298.00K	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$902.00K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$38.90M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$33.43M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$7.77M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$8.37M	USD	1 Quarter
Net income	`NetIncomeLoss`	$25.66M	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`	$0.29	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.35	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.29	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	87.18M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	87.37M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	88.22M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	88.47M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$25.66M	USD	1 Quarter
Net income	`NetIncomeLoss`	$30.52M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$8.65M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$7.56M	USD	1 Quarter
Amortization of deferred financing fees	`AmortizationOfFinancingCosts`	$158.00K	USD	1 Quarter
Amortization of deferred financing fees	`AmortizationOfFinancingCosts`	$177.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$3.42M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$4.75M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$5.07M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$4.64M	USD	1 Quarter
Impairment of long-lived assets	`ImpairmentOfLongLivedAssetsHeldForUse`	$291.00K	USD	1 Quarter
Impairment of long-lived assets	`ImpairmentOfLongLivedAssetsHeldForUse`	-	USD	1 Quarter
Other	`ForeignCurrencyTransactionGainLossBeforeTax`	$-1.04M	USD	1 Quarter
Other	`ForeignCurrencyTransactionGainLossBeforeTax`	$1.61M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.91M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-27.40M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$43.63M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$94.34M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$9.59M	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$6.78M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-37.51M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-57.06M	USD	1 Quarter
Taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$2.98M	USD	1 Quarter
Taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$1.46M	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-406.00K	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$622.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-88.56M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-40.32M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$13.27M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$12.67M	USD	1 Quarter
Additions of intangibles, net	`ProceedsFromPaymentsForIntangibleAssets`	$3.44M	USD	1 Quarter
Additions of intangibles, net	`ProceedsFromPaymentsForIntangibleAssets`	$1.72M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-16.11M	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`	$5.62M	USD	1 Quarter
Taxes paid in connection with employee stock transactions	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.70M	USD	1 Quarter
Taxes paid in connection with employee stock transactions	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.28M	USD	1 Quarter
Proceeds from employee stock transactions	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$287.00K	USD	1 Quarter
Proceeds from employee stock transactions	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	-	USD	1 Quarter
Finance lease principal payment	`PaymentForFinanceLeasePrincipalPayment`	$48.00K	USD	1 Quarter
Finance lease principal payment	`PaymentForFinanceLeasePrincipalPayment`	$698.00K	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$100.03M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-7.09M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-107.63M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$430.00K	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-601.00K	USD	1 Quarter
Net decrease in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-211.86M	USD	1 Quarter
Net decrease in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-62.99M	USD	1 Quarter
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$100.33M	USD	Point-in-time
Cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$312.19M	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, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$100.33M	USD	Point-in-time
Cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$312.19M	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

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Balance at beginning of the period	`StockholdersEquity`	$288.42M	USD	Point-in-time
Balance at beginning of the period	`StockholdersEquity`	$517.82M	USD	Point-in-time
Balance at beginning of the period	`StockholdersEquity`	$446.37M	USD	Point-in-time
Balance at beginning of the period	`StockholdersEquity`	$321.27M	USD	Point-in-time
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$3.42M	USD	1 Quarter
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$4.75M	USD	1 Quarter
Common stock issued under employee benefit plans	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	-	USD	1 Quarter
Common stock issued under employee benefit plans	`StockIssuedDuringPeriodValueEmployeeBenefitPlan`	$287.00K	USD	1 Quarter
Common stock withheld related to net share settlement of stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$-1.28M	USD	1 Quarter
Common stock withheld related to net share settlement of stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$-1.70M	USD	1 Quarter
Repurchase of common stock (in shares)	`TreasuryStockSharesAcquired`	1.68M	shares	1 Quarter
Repurchase of common stock	`TreasuryStockValueAcquiredCostMethod`	$100.03M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-564.00K	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$329.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$25.66M	USD	1 Quarter
Net income	`NetIncomeLoss`	$30.52M	USD	1 Quarter
Balance at end of the period	`StockholdersEquity`	$288.42M	USD	Point-in-time
Balance at end of the period	`StockholdersEquity`	$517.82M	USD	Point-in-time
Balance at end of the period	`StockholdersEquity`	$446.37M	USD	Point-in-time
Balance at end of the period	`StockholdersEquity`	$321.27M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$25.66M	USD	1 Quarter
Net income	`NetIncomeLoss`	$30.52M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-564.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$329.00K	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$25.09M	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.