10-Q Filing

SIMPLY GOOD FOODS CO CIK: 1702744 Q2 2018

Filing Information

Form Type	10-Q
Accession Number	`0001702744-18-000030`
Period End Date	20180228
Filing Date	20180410
Fiscal Year	2018
Fiscal Period	Q2
XBRL Instance	atk-20180224.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 55 Cash Flow Statement 37

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
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 shares authorized (in shares)	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Preferred stock shares authorized (in shares)	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Preferred stock shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$56.50M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$79.01M	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
Accounts receivable, net	`AccountsReceivableNetCurrent`	$41.35M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$37.18M	USD	Point-in-time
Inventories	`InventoryNet`	$25.81M	USD	Point-in-time
Common stock shares authorized (in shares)	`CommonStockSharesAuthorized`	600.00M	shares	Point-in-time
Common stock shares authorized (in shares)	`CommonStockSharesAuthorized`	600.00M	shares	Point-in-time
Inventories	`InventoryNet`	$29.06M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$2.90M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$4.03M	USD	Point-in-time
Common stock shares issued (in shares)	`CommonStockSharesIssued`	70.58M	shares	Point-in-time
Common stock shares issued (in shares)	`CommonStockSharesIssued`	70.56M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$11.29M	USD	Point-in-time
Common stock shares outstanding (in shares)	`CommonStockSharesOutstanding`	70.56M	shares	Point-in-time
Common stock shares outstanding (in shares)	`CommonStockSharesOutstanding`	70.58M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$8.26M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$133.91M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$161.50M	USD	Point-in-time
Property and equipment, net	`NoncurrentAssets`	$2.29M	USD	Point-in-time
Property and equipment, net	`NoncurrentAssets`	$2.10M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$315.90M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$319.15M	USD	Point-in-time
Goodwill	`Goodwill`	$465.03M	USD	Point-in-time
Goodwill	`Goodwill`	$471.43M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$2.29M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$2.29M	USD	Point-in-time
Total assets	`Assets`	$953.40M	USD	Point-in-time
Total assets	`Assets`	$922.49M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$14.86M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$12.32M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$561.00K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$547.00K	USD	Point-in-time
Accrued expenses and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$15.04M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$16.78M	USD	Point-in-time
Current portion of TRA liability	`BusinessCombinationContingentConsiderationLiabilityCurrent`	$3.02M	USD	Point-in-time
Current portion of TRA liability	`BusinessCombinationContingentConsiderationLiabilityCurrent`	$2.55M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$234.00K	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$714.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$33.38M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$33.24M	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$191.86M	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$191.52M	USD	Point-in-time
Long-term portion of TRA liability	`BusinessCombinationContingentConsiderationLiabilityNoncurrent`	$24.27M	USD	Point-in-time
Long-term portion of TRA liability	`BusinessCombinationContingentConsiderationLiabilityNoncurrent`	$23.13M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$75.56M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$52.52M	USD	Point-in-time
Total liabilities	`Liabilities`	$323.79M	USD	Point-in-time
Total liabilities	`Liabilities`	$301.69M	USD	Point-in-time
See commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
See commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.01 par value, 100,000,000 shares authorized, none issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.01 par value, 100,000,000 shares authorized, none issued	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.01 par value, 600,000,000 shares authorized, 70,582,573 and 70,562,477 issued and outstanding, respectively	`CommonStockValue`	$706.00K	USD	Point-in-time
Common stock, $0.01 par value, 600,000,000 shares authorized, 70,582,573 and 70,562,477 issued and outstanding, respectively	`CommonStockValue`	$706.00K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$610.14M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$612.34M	USD	Point-in-time
Retained Earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$-12.16M	USD	Point-in-time
Retained Earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$39.45M	USD	Point-in-time
Accumulated other comprehensive (loss) income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$19.00K	USD	Point-in-time
Accumulated other comprehensive (loss) income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-781.00K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$598.70M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$651.71M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$953.40M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$922.49M	USD	Point-in-time

Income Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$109.35M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$215.93M	USD	2 Qtrs
Cost of goods sold	`CostOfGoodsSold`	$112.92M	USD	2 Qtrs
Cost of goods sold	`CostOfGoodsSold`	$59.09M	USD	1 Quarter
Gross profit	`GrossProfit`	$50.26M	USD	1 Quarter
Gross profit	`GrossProfit`	$103.01M	USD	2 Qtrs
Distribution	`ShippingHandlingAndTransportationCosts`	$5.39M	USD	1 Quarter
Distribution	`ShippingHandlingAndTransportationCosts`	$10.21M	USD	2 Qtrs
Selling	`SellingAndAdvertisingExpense`	$8.88M	USD	2 Qtrs
Selling	`SellingAndAdvertisingExpense`	$4.97M	USD	1 Quarter
Marketing	`MarketingAndAdvertisingExpense`	$10.06M	USD	1 Quarter
Marketing	`MarketingAndAdvertisingExpense`	$19.91M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$24.79M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$12.71M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$3.88M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$1.95M	USD	1 Quarter
Business transaction costs	`BusinessCombinationAcquisitionRelatedCosts`	$1.88M	USD	2 Qtrs
Business transaction costs	`BusinessCombinationAcquisitionRelatedCosts`	$1.88M	USD	1 Quarter
Gain in fair value change of contingent consideration - TRA liability	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$-3.03M	USD	2 Qtrs
Gain in fair value change of contingent consideration - TRA liability	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$-3.67M	USD	1 Quarter
Gain in fair value change of contingent consideration - TRA liability	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$4.70M	USD	Point-in-time
Other expense	`OtherCostAndExpenseOperating`	$184.00K	USD	1 Quarter
Other expense	`OtherCostAndExpenseOperating`	$430.00K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$66.94M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$33.47M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$36.07M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$16.78M	USD	1 Quarter
Change in warrant liabilities	`FairValueAdjustmentOfWarrants`	-	USD	1 Quarter
Change in warrant liabilities	`FairValueAdjustmentOfWarrants`	-	USD	2 Qtrs
Interest expense	`InterestExpense`	$6.11M	USD	2 Qtrs
Interest expense	`InterestExpense`	$3.09M	USD	1 Quarter
Gain (loss) on foreign currency transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$956.00K	USD	2 Qtrs
Gain (loss) on foreign currency transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$601.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$312.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$398.00K	USD	2 Qtrs
Total other expense	`NonoperatingIncomeExpense`	$-2.18M	USD	1 Quarter
Total other expense	`NonoperatingIncomeExpense`	$-4.76M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$31.31M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$14.60M	USD	1 Quarter
Income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$-20.30M	USD	2 Qtrs
Income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$-26.79M	USD	1 Quarter
Net income	`NetIncomeLoss`	$51.61M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$41.39M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-800.00K	USD	2 Qtrs
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-101.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$41.29M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$50.81M	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.73	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.59	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.71	USD	2 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.56	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	70.58M	shares	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	70.58M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	72.61M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	73.83M	shares	1 Quarter

Cash Flow Statement 37 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$51.61M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$41.39M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.88M	USD	2 Qtrs
Amortization of deferred financing costs and debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$645.00K	USD	2 Qtrs
Stock compensation expense	`ShareBasedCompensation`	$1.97M	USD	2 Qtrs
Change in warrant liabilities	`FairValueAdjustmentOfWarrants`	-	USD	1 Quarter
Change in warrant liabilities	`FairValueAdjustmentOfWarrants`	-	USD	2 Qtrs
Gain in fair value change of contingent consideration - TRA liability	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$-3.03M	USD	2 Qtrs
Gain in fair value change of contingent consideration - TRA liability	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$-3.67M	USD	1 Quarter
Gain in fair value change of contingent consideration - TRA liability	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$4.70M	USD	Point-in-time
Unrealized (gain) loss on foreign currency transactions	`ForeignCurrencyTransactionGainLossUnrealized`	$956.00K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-23.40M	USD	2 Qtrs
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-72.00K	USD	2 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$4.67M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-3.28M	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$909.00K	USD	2 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$2.35M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.60M	USD	2 Qtrs
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$-15.00K	USD	2 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$1.73M	USD	2 Qtrs
Other	`IncreaseDecreaseInOtherOperatingLiabilities`	$86.00K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$25.35M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$886.00K	USD	2 Qtrs
Acquisition of business, net of cash acquired	`NoncashMergerRelatedCosts`	$-1.76M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.64M	USD	2 Qtrs
Proceeds from option exercises	`ProceedsFromStockOptionsExercised`	-	USD	2 Qtrs
Cash received from warrant exercises	`ProceedsFromWarrantExercises`	$231.00K	USD	2 Qtrs
Principal payments of long-term debt	`RepaymentsOfLongTermDebt`	$500.00K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-269.00K	USD	2 Qtrs
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$22.44M	USD	2 Qtrs
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$70.00K	USD	2 Qtrs
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$56.50M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$79.01M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$56.50M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$79.01M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$5.48M	USD	2 Qtrs
Cash paid for taxes	`IncomeTaxesPaid`	$1.75M	USD	2 Qtrs

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