10-Q Filing

GROCERY OUTLET HOLDING CORP. CIK: 1771515 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001771515-22-000055`
Period End Date	20220331
Filing Date	20220511
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	go-20220402_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 84 Income Statement 36 Cash Flow Statement 62 Stockholders Equity 20

Balance Sheet 84 line items

Line Item	Tag	Value	Unit	Period
Accounts and financing receivable, allowance for credit loss, current	`AccountsAndFinancingReceivableAllowanceForCreditLossCurrent`	$1.62M	USD	Point-in-time
Accounts and financing receivable, allowance for credit loss, current	`AccountsAndFinancingReceivableAllowanceForCreditLossCurrent`	$1.41M	USD	Point-in-time
Allowance for doubtful other receivables, current	`AllowanceForDoubtfulOtherReceivablesCurrent`	$57.00K	USD	Point-in-time
Allowance for doubtful other receivables, current	`AllowanceForDoubtfulOtherReceivablesCurrent`	$68.00K	USD	Point-in-time
Financing receivable, allowance for credit loss, noncurrent	`AllowanceForNotesAndLoansReceivableNoncurrent`	$10.93M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$140.09M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$138.00M	USD	Point-in-time
Financing receivable, allowance for credit loss, noncurrent	`AllowanceForNotesAndLoansReceivableNoncurrent`	$10.51M	USD	Point-in-time
Independent operator receivables and current portion of independent operator notes, net of allowance $1,616 and $1,406	`AccountsNotesAndLoansReceivableNetCurrent`	$8.35M	USD	Point-in-time
Common stock, par (in usd per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par (in usd per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Independent operator receivables and current portion of independent operator notes, net of allowance $1,616 and $1,406	`AccountsNotesAndLoansReceivableNetCurrent`	$7.22M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Other accounts receivable, net of allowance $68 and $57	`OtherReceivablesNetCurrent`	$3.23M	USD	Point-in-time
Other accounts receivable, net of allowance $68 and $57	`OtherReceivablesNetCurrent`	$3.16M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	96.14M	shares	Point-in-time
Common stock, issued (in shares)	`CommonStockSharesIssued`	96.28M	shares	Point-in-time
Merchandise inventories	`InventoryFinishedGoodsNetOfReserves`	$275.50M	USD	Point-in-time
Merchandise inventories	`InventoryFinishedGoodsNetOfReserves`	$297.39M	USD	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	96.14M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$14.16M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$16.78M	USD	Point-in-time
Common stock, outstanding (in shares)	`CommonStockSharesOutstanding`	96.28M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$442.75M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$461.13M	USD	Point-in-time
Preferred stock, par (in usd per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par (in usd per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Independent operator notes, net of allowance $10,931 and $10,506	`LongTermAccountsNotesAndLoansReceivableNetNoncurrent`	$21.57M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Independent operator notes, net of allowance $10,931 and $10,506	`LongTermAccountsNotesAndLoansReceivableNetNoncurrent`	$21.52M	USD	Point-in-time
Preferred stock, issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$499.39M	USD	Point-in-time
Preferred stock, issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$510.12M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$898.15M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$905.03M	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
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$53.47M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$51.92M	USD	Point-in-time
Goodwill	`Goodwill`	$747.94M	USD	Point-in-time
Goodwill	`Goodwill`	$747.94M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$8.14M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$7.78M	USD	Point-in-time
Total assets	`Assets`	$2.67B	USD	Point-in-time
Total assets	`Assets`	$2.71B	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$133.20M	USD	Point-in-time
Trade accounts payable	`AccountsPayableTradeCurrent`	$122.11M	USD	Point-in-time
Accrued and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$49.02M	USD	Point-in-time
Accrued and other current liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$41.97M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$8.45M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$10.30M	USD	Point-in-time
Current lease liabilities	`LeaseLiabilityCurrent`	$51.14M	USD	Point-in-time
Current lease liabilities	`LeaseLiabilityCurrent`	$49.32M	USD	Point-in-time
Income and other taxes payable	`TaxesPayableCurrent`	$7.18M	USD	Point-in-time
Income and other taxes payable	`TaxesPayableCurrent`	$7.45M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$242.24M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$237.91M	USD	Point-in-time
Long-term debt, net	`LongTermDebtAndCapitalLeaseObligations`	$451.47M	USD	Point-in-time
Long-term debt, net	`LongTermDebtAndCapitalLeaseObligations`	$452.03M	USD	Point-in-time
Deferred income tax liabilities, net	`DeferredIncomeTaxLiabilitiesNet`	$13.47M	USD	Point-in-time
Deferred income tax liabilities, net	`DeferredIncomeTaxLiabilitiesNet`	$9.42M	USD	Point-in-time
Long-term lease liabilities	`LeaseLiabilityNoncurrent`	$975.24M	USD	Point-in-time
Long-term lease liabilities	`LeaseLiabilityNoncurrent`	$961.75M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.66B	USD	Point-in-time
Total liabilities	`Liabilities`	$1.68B	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, par value $0.001 per share, 500,000,000 shares authorized; 96,281,188 and 96,144,433 shares issued and outstanding, respectively	`CommonStockValue`	$96.00K	USD	Point-in-time
Common stock, par value $0.001 per share, 500,000,000 shares authorized; 96,281,188 and 96,144,433 shares issued and outstanding, respectively	`CommonStockValue`	$96.00K	USD	Point-in-time
Series A preferred stock, par value $0.001 per share, 50,000,000 shares authorized; no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Series A preferred stock, par value $0.001 per share, 50,000,000 shares authorized; no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$814.92M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$811.70M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$209.05M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$197.47M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$922.31M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$948.09M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.02B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$1.01B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$2.67B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$2.71B	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$831.43M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$752.47M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$580.54M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$520.54M	USD	1 Quarter
Gross profit	`GrossProfit`	$250.89M	USD	1 Quarter
Gross profit	`GrossProfit`	$231.93M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$207.43M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$188.60M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$15.54M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$18.23M	USD	1 Quarter
Share-based compensation	`AllocatedShareBasedCompensationExpense`	$5.79M	USD	1 Quarter
Share-based compensation	`AllocatedShareBasedCompensationExpense`	$3.94M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$231.46M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$208.08M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$19.43M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$23.85M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-3.91M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNonoperatingNet`	$-3.68M	USD	1 Quarter
Total other expenses	`NonoperatingIncomeExpense`	$-3.91M	USD	1 Quarter
Total other expenses	`NonoperatingIncomeExpense`	$-3.68M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$19.94M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$15.75M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$4.17M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.05M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$18.89M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$11.57M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$11.57M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$18.89M	USD	1 Quarter
Basic earnings per share (in usd per share)	`EarningsPerShareBasic`	$0.20	USD	1 Quarter
Basic earnings per share (in usd per share)	`EarningsPerShareBasic`	$0.12	USD	1 Quarter
Diluted earnings per share (in usd per share)	`EarningsPerShareDiluted`	$0.12	USD	1 Quarter
Diluted earnings per share (in usd per share)	`EarningsPerShareDiluted`	$0.19	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	95.19M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	96.15M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	99.57M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	99.43M	shares	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$18.89M	USD	1 Quarter
Net income	`NetIncomeLoss`	$11.57M	USD	1 Quarter
Depreciation of property and equipment	`Depreciation`	$17.12M	USD	1 Quarter
Depreciation of property and equipment	`Depreciation`	$14.22M	USD	1 Quarter
Amortization of intangible and other assets	`AmortizationOfIntangiblesAndOtherAssets`	$1.87M	USD	1 Quarter
Amortization of intangible and other assets	`AmortizationOfIntangiblesAndOtherAssets`	$1.92M	USD	1 Quarter
Amortization of debt issuance costs and discounts	`AmortizationOfFinancingCostsAndDiscounts`	$628.00K	USD	1 Quarter
Amortization of debt issuance costs and discounts	`AmortizationOfFinancingCostsAndDiscounts`	$628.00K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$3.94M	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$5.79M	USD	1 Quarter
Provision for accounts receivable	`ProvisionForDoubtfulAccounts`	$1.23M	USD	1 Quarter
Provision for accounts receivable	`ProvisionForDoubtfulAccounts`	$955.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$4.06M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$1.03M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-362.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-477.00K	USD	1 Quarter
Independent operator and other accounts receivable	`IncreaseDecreaseInReceivables`	$-2.48M	USD	1 Quarter
Independent operator and other accounts receivable	`IncreaseDecreaseInReceivables`	$1.75M	USD	1 Quarter
Merchandise inventories	`IncreaseDecreaseInInventories`	$-1.89M	USD	1 Quarter
Merchandise inventories	`IncreaseDecreaseInInventories`	$21.89M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-2.56M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-2.62M	USD	1 Quarter
Income and other taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$265.00K	USD	1 Quarter
Income and other taxes payable	`IncreaseDecreaseInAccruedTaxesPayable`	$-1.19M	USD	1 Quarter
Trade accounts payable, accrued compensation and other liabilities	`IncreaseDecreaseInAccountsPayableTrade`	$-16.46M	USD	1 Quarter
Trade accounts payable, accrued compensation and other liabilities	`IncreaseDecreaseInAccountsPayableTrade`	$9.34M	USD	1 Quarter
Changes in operating lease assets and liabilities, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$4.93M	USD	1 Quarter
Changes in operating lease assets and liabilities, net	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-5.11M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$26.41M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$36.33M	USD	1 Quarter
Advances to independent operators	`PaymentsForAdvancesToIndependentOperators`	$2.66M	USD	1 Quarter
Advances to independent operators	`PaymentsForAdvancesToIndependentOperators`	$2.40M	USD	1 Quarter
Repayments of advances from independent operators	`RepaymentsFromAdvancesToIndependentOperators`	$1.67M	USD	1 Quarter
Repayments of advances from independent operators	`RepaymentsFromAdvancesToIndependentOperators`	$1.19M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$36.57M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$32.11M	USD	1 Quarter
Proceeds from sales of assets	`ProceedsFromSaleOfProductiveAssets`	$17.00K	USD	1 Quarter
Proceeds from sales of assets	`ProceedsFromSaleOfProductiveAssets`	$29.00K	USD	1 Quarter
Investments in intangible assets and licenses	`PaymentsToAcquireIntangibleAssets`	$1.14M	USD	1 Quarter
Investments in intangible assets and licenses	`PaymentsToAcquireIntangibleAssets`	$2.71M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-35.52M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-39.16M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$2.95M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$887.00K	USD	1 Quarter
Principal payments on finance leases	`RepaymentsOfOtherDebt`	$325.00K	USD	1 Quarter
Principal payments on finance leases	`RepaymentsOfOtherDebt`	$231.00K	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$3.45M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$7.00K	USD	1 Quarter
Dividends paid	`PaymentsOfDividends`	$5.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.72M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.90M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.09M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-10.03M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$140.09M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$95.29M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$138.00M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$105.33M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$140.09M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$95.29M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$138.00M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$105.33M	USD	Point-in-time

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$922.31M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$948.09M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$1.02B	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$1.01B	USD	Point-in-time
Exercise and vesting of share-based awards	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$2.95M	USD	1 Quarter
Exercise and vesting of share-based awards	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$887.00K	USD	1 Quarter
Share-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$3.94M	USD	1 Quarter
Share-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$5.79M	USD	1 Quarter
Repurchase of common stock	`StockRepurchasedAndRetiredDuringPeriodValue`	-	USD	1 Quarter
Repurchase of common stock	`StockRepurchasedAndRetiredDuringPeriodValue`	$3.45M	USD	1 Quarter
Dividends paid	`Dividends`	$5.00K	USD	1 Quarter
Dividends paid	`Dividends`	$7.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$18.89M	USD	1 Quarter
Net income	`NetIncomeLoss`	$11.57M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$11.57M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$18.89M	USD	1 Quarter
Ending balance	`StockholdersEquity`	$922.31M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$948.09M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$1.02B	USD	Point-in-time
Ending balance	`StockholdersEquity`	$1.01B	USD	Point-in-time

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