10-Q Filing

SIMPLY GOOD FOODS CO CIK: 1702744 Q3 2018

Filing Information

Form Type	10-Q
Accession Number	`0001702744-18-000044`
Period End Date	20180531
Filing Date	20180710
Fiscal Year	2018
Fiscal Period	Q3
XBRL Instance	atk-20180526.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 55 Cash Flow Statement 40

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`	$88.36M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$37.18M	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`	$41.66M	USD	Point-in-time
Common stock shares authorized (in shares)	`CommonStockSharesAuthorized`	600.00M	shares	Point-in-time
Inventories	`InventoryNet`	$24.95M	USD	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
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
Prepaid expenses	`PrepaidExpenseCurrent`	$4.22M	USD	Point-in-time
Common stock shares outstanding (in shares)	`CommonStockSharesOutstanding`	70.58M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$10.91M	USD	Point-in-time
Common stock shares outstanding (in shares)	`CommonStockSharesOutstanding`	70.56M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$8.26M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$170.10M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$133.91M	USD	Point-in-time
Property and equipment, net	`NoncurrentAssets`	$2.10M	USD	Point-in-time
Property and equipment, net	`NoncurrentAssets`	$2.46M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$319.15M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$314.27M	USD	Point-in-time
Goodwill	`Goodwill`	$471.43M	USD	Point-in-time
Goodwill	`Goodwill`	$465.03M	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`	$960.55M	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`	$10.13M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$561.00K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$527.00K	USD	Point-in-time
Accrued expenses and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$15.05M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccountsPayableAndOtherAccruedLiabilitiesCurrent`	$15.04M	USD	Point-in-time
Current portion of TRA liability	`BusinessCombinationContingentConsiderationLiabilityCurrent`	$2.55M	USD	Point-in-time
Current portion of TRA liability	`BusinessCombinationContingentConsiderationLiabilityCurrent`	$2.58M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$664.00K	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$234.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$33.24M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$28.95M	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$191.08M	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$191.86M	USD	Point-in-time
Long-term portion of TRA liability	`BusinessCombinationContingentConsiderationLiabilityNoncurrent`	$25.32M	USD	Point-in-time
Long-term portion of TRA liability	`BusinessCombinationContingentConsiderationLiabilityNoncurrent`	$23.13M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$55.03M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$75.56M	USD	Point-in-time
Total liabilities	`Liabilities`	$323.79M	USD	Point-in-time
Total liabilities	`Liabilities`	$300.39M	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`	$613.35M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$610.14M	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$46.59M	USD	Point-in-time
Retained earnings (accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$-12.16M	USD	Point-in-time
Accumulated other comprehensive (loss) income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-482.00K	USD	Point-in-time
Accumulated other comprehensive (loss) income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$19.00K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$660.16M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$598.70M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$960.55M	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`	$107.23M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$323.17M	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsSold`	$55.95M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$168.87M	USD	3 Qtrs
Gross profit	`GrossProfit`	$51.28M	USD	1 Quarter
Gross profit	`GrossProfit`	$154.30M	USD	3 Qtrs
Distribution	`ShippingHandlingAndTransportationCosts`	$4.66M	USD	1 Quarter
Distribution	`ShippingHandlingAndTransportationCosts`	$14.86M	USD	3 Qtrs
Selling	`SellingAndAdvertisingExpense`	$13.85M	USD	3 Qtrs
Selling	`SellingAndAdvertisingExpense`	$4.97M	USD	1 Quarter
Marketing	`MarketingAndAdvertisingExpense`	$30.91M	USD	3 Qtrs
Marketing	`MarketingAndAdvertisingExpense`	$11.00M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$14.16M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$38.95M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$1.91M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$5.79M	USD	3 Qtrs
Business transaction costs	`BusinessCombinationAcquisitionRelatedCosts`	$35.00K	USD	1 Quarter
Business transaction costs	`BusinessCombinationAcquisitionRelatedCosts`	$1.91M	USD	3 Qtrs
Loss (gain) in fair value change of contingent consideration - TRA liability	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$-2.41M	USD	3 Qtrs
Loss (gain) in fair value change of contingent consideration - TRA liability	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$614.00K	USD	1 Quarter
Loss (gain) in fair value change of contingent consideration - TRA liability	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$4.70M	USD	Point-in-time
Other expense	`OtherCostAndExpenseOperating`	$137.00K	USD	1 Quarter
Other expense	`OtherCostAndExpenseOperating`	$567.00K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$104.43M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$37.48M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$49.87M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$13.80M	USD	1 Quarter
Change in warrant liabilities	`FairValueAdjustmentOfWarrants`	-	USD	3 Qtrs
Change in warrant liabilities	`FairValueAdjustmentOfWarrants`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$9.17M	USD	3 Qtrs
Interest expense	`InterestExpense`	$3.06M	USD	1 Quarter
(Loss) gain on foreign currency transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$-837.00K	USD	1 Quarter
(Loss) gain on foreign currency transactions	`ForeignCurrencyTransactionGainLossBeforeTax`	$119.00K	USD	3 Qtrs
Other income	`OtherNonoperatingIncomeExpense`	$77.00K	USD	1 Quarter
Other income	`OtherNonoperatingIncomeExpense`	$475.00K	USD	3 Qtrs
Total other expense	`NonoperatingIncomeExpense`	$-8.57M	USD	3 Qtrs
Total other expense	`NonoperatingIncomeExpense`	$-3.82M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$9.98M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$41.30M	USD	3 Qtrs
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-17.45M	USD	3 Qtrs
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$2.85M	USD	1 Quarter
Net income	`NetIncomeLoss`	$58.75M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$7.14M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-501.00K	USD	3 Qtrs
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$299.00K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$7.44M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$58.25M	USD	3 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.10	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.83	USD	3 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.81	USD	3 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.10	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	70.58M	shares	3 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	70.58M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	72.91M	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	73.47M	shares	1 Quarter

Cash Flow Statement 40 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$58.75M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$7.14M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$1.91M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$5.79M	USD	3 Qtrs
Amortization of deferred financing costs and debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$977.00K	USD	3 Qtrs
Stock compensation expense	`ShareBasedCompensation`	$1.00M	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$2.98M	USD	3 Qtrs
Change in warrant liabilities	`FairValueAdjustmentOfWarrants`	-	USD	3 Qtrs
Change in warrant liabilities	`FairValueAdjustmentOfWarrants`	-	USD	1 Quarter
Gain in fair value change of contingent consideration - TRA liability	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$-2.41M	USD	3 Qtrs
Gain in fair value change of contingent consideration - TRA liability	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$614.00K	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`	$-119.00K	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-20.88M	USD	3 Qtrs
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-77.00K	USD	3 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$4.81M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-4.00M	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$1.30M	USD	3 Qtrs
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$2.33M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-4.68M	USD	3 Qtrs
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$-34.00K	USD	3 Qtrs
Accrued expenses and other current liabilities	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$203.00K	USD	3 Qtrs
Other	`IncreaseDecreaseInOtherOperatingLiabilities`	$-239.00K	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$36.22M	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.35M	USD	3 Qtrs
Acquisition of business, net of cash acquired	`NoncashMergerRelatedCosts`	$-1.76M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.10M	USD	3 Qtrs
Proceeds from option exercises	`ProceedsFromStockOptionsExercised`	-	USD	3 Qtrs
Cash received from warrant exercises	`ProceedsFromWarrantExercises`	$231.00K	USD	3 Qtrs
Deferred financing costs	`PaymentsOfFinancingCosts`	$319.00K	USD	3 Qtrs
Principal payments of long-term debt	`RepaymentsOfLongTermDebt`	$1.00M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.09M	USD	3 Qtrs
Net increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$32.03M	USD	3 Qtrs
Effect of exchange rate on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-171.00K	USD	3 Qtrs
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$56.50M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$88.36M	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`	$88.36M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$8.23M	USD	3 Qtrs
Cash paid for taxes	`IncomeTaxesPaid`	$2.10M	USD	3 Qtrs

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