10-Q Filing

SIMPLY GOOD FOODS CO CIK: 1702744 Q2 2017

Filing Information

Form Type	10-Q
Accession Number	`0001702744-17-000004`
Period End Date	20170531
Filing Date	20170714
Fiscal Year	2017
Fiscal Period	Q2
XBRL Instance	atk-20170527.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 57 Income Statement 84 Cash Flow Statement 64

Balance Sheet 57 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$22.16M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$67.69M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$78.49M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$57.09M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$42.84M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$36.19M	USD	Point-in-time
Inventories, net	`InventoryNet`	$29.47M	USD	Point-in-time
Inventories, net	`InventoryNet`	$27.54M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$2.92M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.75M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$15.46M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$8.35M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$158.98M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$106.20M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.27M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.86M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$185.69M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$183.69M	USD	Point-in-time
Goodwill	`Goodwill`	$55.19M	USD	Point-in-time
Goodwill	`Goodwill`	$40.72M	USD	Point-in-time
Other long term assets	`OtherAssetsNoncurrent`	$1.85M	USD	Point-in-time
Other long term assets	`OtherAssetsNoncurrent`	$2.22M	USD	Point-in-time
Total assets	`Assets`	$349.16M	USD	Point-in-time
Total assets	`Assets`	$377.53M	USD	Point-in-time
Total assets	`Assets`	$389.51M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$18.09M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$18.75M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$4.03M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$3.54M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$13.79M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$16.63M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	-	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$11.39M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$35.43M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$50.79M	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$280.95M	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$321.64M	USD	Point-in-time
Warrant liabilities	`WarrantsAndRightsOutstanding`	$15.00M	USD	Point-in-time
Warrant liabilities	`WarrantsAndRightsOutstanding`	$15.72M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$29.42M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$29.19M	USD	Point-in-time
Total liabilities	`Liabilities`	$360.81M	USD	Point-in-time
Total liabilities	`Liabilities`	$417.35M	USD	Point-in-time
See Commitments and contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
See Commitments and contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock	`CommonStockValue`	$5.00K	USD	Point-in-time
Common stock	`CommonStockValue`	$5.00K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$-41.57M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$-43.55M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$30.75M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$16.16M	USD	Point-in-time
Accumulated other comprehensive (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-832.00K	USD	Point-in-time
Accumulated other comprehensive (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-443.00K	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-27.83M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-11.65M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$389.51M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$349.16M	USD	Point-in-time

Income Statement 84 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$324.37M	USD	3 Qtrs
Net sales	`SalesRevenueNet`	$298.61M	USD	3 Qtrs
Net sales	`SalesRevenueNet`	$104.59M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$96.50M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$159.76M	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsSold`	$188.65M	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsSold`	$62.16M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$52.93M	USD	1 Quarter
Gross profit	`GrossProfit`	$135.72M	USD	3 Qtrs
Gross profit	`GrossProfit`	$42.43M	USD	1 Quarter
Gross profit	`GrossProfit`	$138.85M	USD	3 Qtrs
Gross profit	`GrossProfit`	$43.57M	USD	1 Quarter
Distribution	`ProductionAndDistributionCosts`	$13.41M	USD	3 Qtrs
Distribution	`ProductionAndDistributionCosts`	$4.60M	USD	1 Quarter
Distribution	`ProductionAndDistributionCosts`	$4.08M	USD	1 Quarter
Distribution	`ProductionAndDistributionCosts`	$13.67M	USD	3 Qtrs
Selling	`SellingAndAdvertisingExpense`	$12.62M	USD	3 Qtrs
Selling	`SellingAndAdvertisingExpense`	$5.44M	USD	1 Quarter
Selling	`SellingAndAdvertisingExpense`	$14.81M	USD	3 Qtrs
Selling	`SellingAndAdvertisingExpense`	$4.35M	USD	1 Quarter
Marketing	`MarketingAndAdvertisingExpense`	$28.96M	USD	3 Qtrs
Marketing	`MarketingAndAdvertisingExpense`	$9.73M	USD	1 Quarter
Marketing	`MarketingAndAdvertisingExpense`	$9.49M	USD	1 Quarter
Marketing	`MarketingAndAdvertisingExpense`	$28.97M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$12.21M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$12.28M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$33.98M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$34.08M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$7.71M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$7.41M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$2.46M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$2.48M	USD	1 Quarter
Other Expense	`OtherCostAndExpenseOperating`	$227.00K	USD	1 Quarter
Other Expense	`OtherCostAndExpenseOperating`	$17.00K	USD	1 Quarter
Other Expense	`OtherCostAndExpenseOperating`	$75.00K	USD	3 Qtrs
Other Expense	`OtherCostAndExpenseOperating`	$652.00K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$34.44M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$99.88M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$96.46M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$32.94M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$7.99M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$42.39M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$10.63M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$35.84M	USD	3 Qtrs
Change in warrant liabilities	`FairValueAdjustmentOfWarrants`	-	USD	1 Quarter
Change in warrant liabilities	`FairValueAdjustmentOfWarrants`	$-722.00K	USD	3 Qtrs
Change in warrant liabilities	`FairValueAdjustmentOfWarrants`	-	USD	3 Qtrs
Change in warrant liabilities	`FairValueAdjustmentOfWarrants`	$-1.12M	USD	1 Quarter
Interest expense	`InterestExpense`	$6.43M	USD	1 Quarter
Interest expense	`InterestExpense`	$6.56M	USD	1 Quarter
Interest expense	`InterestExpense`	$20.29M	USD	3 Qtrs
Interest expense	`InterestExpense`	$20.06M	USD	3 Qtrs
Loss (gain) on foreign currency transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$-44.00K	USD	3 Qtrs
Loss (gain) on foreign currency transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$357.00K	USD	1 Quarter
Loss (gain) on foreign currency transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$724.00K	USD	1 Quarter
Loss (gain) on foreign currency transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$6.00K	USD	3 Qtrs
Other income (expense)	`OtherNonoperatingIncomeExpense`	$104.00K	USD	3 Qtrs
Other income (expense)	`OtherNonoperatingIncomeExpense`	$83.00K	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-12.00K	USD	1 Quarter
Other income (expense)	`OtherNonoperatingIncomeExpense`	$282.00K	USD	3 Qtrs
Total other expense	`NonoperatingIncomeExpense`	$-20.23M	USD	3 Qtrs
Total other expense	`NonoperatingIncomeExpense`	$-6.21M	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-4.50M	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-19.05M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$6.12M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.78M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$15.60M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$23.34M	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$6.73M	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$1.78M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.00M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$8.75M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$14.60M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$776.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.35M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.88M	USD	3 Qtrs
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$158.00K	USD	3 Qtrs
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-805.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-389.00K	USD	3 Qtrs
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$33.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$14.21M	USD	3 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$9.03M	USD	3 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$809.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$3.54M	USD	1 Quarter

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$14.60M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$776.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.35M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.88M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$7.41M	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$7.71M	USD	3 Qtrs
Amortization of deferred financing costs and debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$1.47M	USD	3 Qtrs
Amortization of deferred financing costs and debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$1.39M	USD	3 Qtrs
Stock compensation expense	`ShareBasedCompensation`	$1.54M	USD	3 Qtrs
Stock compensation expense	`ShareBasedCompensation`	$1.87M	USD	3 Qtrs
Change in warrant liabilities	`FairValueAdjustmentOfWarrants`	-	USD	1 Quarter
Change in warrant liabilities	`FairValueAdjustmentOfWarrants`	$-722.00K	USD	3 Qtrs
Change in warrant liabilities	`FairValueAdjustmentOfWarrants`	-	USD	3 Qtrs
Change in warrant liabilities	`FairValueAdjustmentOfWarrants`	$-1.12M	USD	1 Quarter
Unrealized loss on foreign currency transactions	`ForeignCurrencyTransactionGainLossUnrealized`	$111.00K	USD	3 Qtrs
Unrealized loss on foreign currency transactions	`ForeignCurrencyTransactionGainLossUnrealized`	$-470.00K	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$6.11M	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.13M	USD	3 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-8.29M	USD	3 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$10.64M	USD	3 Qtrs
Inventories, net	`IncreaseDecreaseInInventories`	$-1.08M	USD	3 Qtrs
Inventories, net	`IncreaseDecreaseInInventories`	$1.11M	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$399.00K	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-239.00K	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$7.96M	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-2.15M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.31M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.17M	USD	3 Qtrs
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$-142.00K	USD	3 Qtrs
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$-490.00K	USD	3 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-1.85M	USD	3 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$1.34M	USD	3 Qtrs
Other	`IncreaseDecreaseInOtherOperatingLiabilities`	$57.00K	USD	3 Qtrs
Other	`IncreaseDecreaseInOtherOperatingLiabilities`	$39.00K	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$18.74M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$18.87M	USD	3 Qtrs
Purchases of property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$421.00K	USD	3 Qtrs
Purchases of property, plant, and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$521.00K	USD	3 Qtrs
Wellness Foods investment	`PaymentsToAcquireBusinessesGross`	$21.04M	USD	3 Qtrs
Wellness Foods investment	`PaymentsToAcquireBusinessesGross`	-	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-21.46M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-521.00K	USD	3 Qtrs
Proceeds from option exercises	`ProceedsFromStockOptionsExercised`	$109.00K	USD	3 Qtrs
Proceeds from option exercises	`ProceedsFromStockOptionsExercised`	-	USD	3 Qtrs
Principal payments of long-term debt	`RepaymentsOfLongTermDebt`	$53.59M	USD	3 Qtrs
Principal payments of long-term debt	`RepaymentsOfLongTermDebt`	$7.46M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-7.46M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-53.48M	USD	3 Qtrs
Net (decrease) increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-56.20M	USD	3 Qtrs
Net (decrease) increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$10.88M	USD	3 Qtrs
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-290.00K	USD	3 Qtrs
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-133.00K	USD	3 Qtrs
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$22.16M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$67.69M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$78.49M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$57.09M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$22.16M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$67.69M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$78.49M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$57.09M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$18.95M	USD	3 Qtrs
Cash paid for interest	`InterestPaidNet`	$19.03M	USD	3 Qtrs
Cash paid for taxes	`IncomeTaxesPaid`	$12.37M	USD	3 Qtrs
Cash paid for taxes	`IncomeTaxesPaid`	$237.00K	USD	3 Qtrs

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