Document_and_Entity_Informatio
Document and Entity Information Document | 9 Months Ended | |
Sep. 27, 2014 | Oct. 20, 2014 | |
Entity Information [Line Items] | ' | ' |
Entity Registrant Name | 'CABELAS INC | ' |
Entity Central Index Key | '0001267130 | ' |
Current Fiscal Year End Date | '--12-27 | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Document Type | '10-Q | ' |
Document Period End Date | 27-Sep-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Amendment Flag | 'false | ' |
Entity Common Stock, Shares Outstanding | ' | 71,087,397 |
Entity Well-known Seasoned Issuer | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Current Reporting Status | 'Yes | ' |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 27, 2014 | Sep. 28, 2013 | Sep. 27, 2014 | Sep. 28, 2013 |
Merchandise sales | $773,438 | $749,141 | $2,040,501 | $2,124,538 |
Financial Services revenue | 109,132 | 98,403 | 317,074 | 272,753 |
Other revenue | 3,432 | 3,284 | 15,451 | 12,839 |
Total revenues | 886,002 | 850,828 | 2,373,026 | 2,410,130 |
Merchandise costs (exclusive of depreciation and amortization) | 492,492 | 469,614 | 1,306,585 | 1,341,706 |
Cost of other revenue | 8 | 318 | 1,398 | 386 |
Total cost of revenue (exclusive of depreciation and amortization) | 492,500 | 469,932 | 1,307,983 | 1,342,092 |
Selling, distribution, and administrative expenses | 299,587 | 304,293 | 857,643 | 844,448 |
Restructuring and Related Cost, Incurred Cost | 0 | 0 | 641 | 937 |
Operating income | 93,915 | 76,603 | 206,759 | 222,653 |
Interest expense, net | -5,152 | -4,979 | -14,476 | -14,249 |
Other non-operating income, net | 916 | 1,028 | 4,057 | 3,675 |
Income before provision for income taxes | 89,679 | 72,652 | 196,340 | 212,079 |
Provision for income taxes | 35,840 | 22,766 | 73,235 | 67,801 |
Net income | $53,839 | $49,886 | $123,105 | $144,278 |
Earnings per basic share | $0.76 | $0.71 | $1.73 | $2.05 |
Earnings per diluted share | $0.75 | $0.70 | $1.71 | $2.01 |
Basic weighted average shares outstanding | 71,068,933 | 70,575,804 | 70,957,321 | 70,412,479 |
Diluted weighted average shares outstanding | 71,693,136 | 71,757,901 | 71,885,472 | 71,717,894 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statement of Comprehensive Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 27, 2014 | Sep. 28, 2013 | Sep. 27, 2014 | Sep. 28, 2013 |
Net Income (Loss) Attributable to Parent | $53,839 | $49,886 | $123,105 | $144,278 |
Unrealized gain (loss) on economic development bonds, net of taxes of $1,771, $365, $2,649, and $(653) | 2,965 | 678 | 4,434 | -1,681 |
Cash flow hedges | 0 | 0 | 0 | 1 |
Foreign currency translation adjustments | -7,253 | 2,450 | -5,936 | 940 |
Total other comprehensive income (loss) | -4,288 | 3,128 | -1,502 | -740 |
Comprehensive income | $49,551 | $53,014 | $121,603 | $143,538 |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statement of Comprehensive Income Parentheticals (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 27, 2014 | Sep. 28, 2013 | Sep. 27, 2014 | Sep. 28, 2013 |
Taxes on unrealized loss on economic development bonds | $1,771 | $365 | $2,649 | ($653) |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Sep. 27, 2014 | Dec. 28, 2013 | Sep. 28, 2013 |
In Thousands, unless otherwise specified | |||
Cash and cash equivalents | $365,114 | $199,072 | $409,733 |
Restricted cash of the Trust | 31,808 | 23,191 | 26,009 |
Held-to-maturity Securities, Current | 0 | 0 | 135,000 |
Accounts receivable, net | 24,512 | 42,868 | 29,367 |
Credit card loans (includes restricted credit card loans of the Trust of $4,036,331, $3,956,230, and $3,591,844), net of allowance for loan losses of $52,700, $53,110, and $57,370 | 4,011,187 | 3,938,630 | 3,567,423 |
Inventories | 934,732 | 644,883 | 815,594 |
Prepaid expenses and other current assets | 99,563 | 90,438 | 95,382 |
Income taxes receivable and deferred income taxes | 98,054 | 47,430 | 53,693 |
Assets, Current | 5,564,970 | 4,986,512 | 5,132,201 |
Property and equipment, net | 1,522,910 | 1,287,545 | 1,201,662 |
Economic development bonds | 82,341 | 78,504 | 79,260 |
Other assets | 45,243 | 44,303 | 48,942 |
Assets | 7,215,464 | 6,396,864 | 6,462,065 |
Accounts payable, including unpresented checks of $67,031, $22,717, and $23,745 | 367,572 | 261,200 | 284,934 |
Gift instrument, credit card rewards, and loyalty rewards programs | 281,759 | 291,444 | 248,711 |
Accrued expenses | 129,091 | 204,073 | 153,287 |
Time Deposit Maturities, Next Twelve Months | 290,007 | 297,645 | 357,314 |
Current maturities of secured variable funding obligations of the Trust | 0 | 50,000 | 0 |
Debt, Current | 467,500 | 0 | 0 |
Current maturities of long-term debt | 8,430 | 8,418 | 8,414 |
Deferred Tax Liabilities, Net, Current | 836 | 0 | 0 |
Liabilities, Current | 1,545,195 | 1,112,780 | 1,052,660 |
Long-term time deposits | 540,402 | 771,717 | 790,664 |
Secured long-term obligations of the Trust | 2,579,750 | 2,452,250 | 2,452,250 |
Long-term debt, less current maturities | 657,648 | 322,647 | 524,149 |
Deferred income taxes | 3,671 | 3,118 | 14,329 |
Other long-term liabilities | 149,818 | 128,018 | 102,063 |
COMMITMENTS AND CONTINGENCIES | ' | ' | ' |
Preferred stock, $0.01 par value; Authorized – 10,000,000 shares; Issued – none | 0 | 0 | 0 |
Class A Voting, Authorized – 245,000,000 shares; Issued – 70,604,935, 70,545,558, and 70,545,524 shares; Outstanding – 70,604,705, 70,053,144, and 70,019,501 shares | 711 | 706 | 706 |
Additional paid-in capital | 357,573 | 346,535 | 339,752 |
Retained earnings | 1,383,922 | 1,260,817 | 1,180,705 |
Accumulated other comprehensive income (loss) | -3,226 | -1,724 | 4,802 |
Treasury stock, at cost – 230 shares at September 28, 2013 | 0 | 0 | -15 |
Stockholders' Equity Attributable to Parent | 1,738,980 | 1,606,334 | 1,525,950 |
Liabilities and Equity | $7,215,464 | $6,396,864 | $6,462,065 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets Parentheticals (USD $) | Sep. 27, 2014 | Dec. 28, 2013 | Sep. 28, 2013 |
Restricted credit card loans of the Trust | $4,036,331,000 | $3,956,230,000 | $3,591,844,000 |
Allowance for loan losses | 52,700,000 | 53,110,000 | 57,370,000 |
Unpresented checks | 67,031,000 | 22,717,000 | 23,745,000 |
Common stock, par value | $0.01 | $0.01 | $0.01 |
Common stock, shares authorized | 245,000,000 | 245,000,000 | 245,000,000 |
Common stock, shares issued | 71,085,205 | 70,630,866 | 70,604,935 |
Preferred stock, par value | 71,085,205 | 70,630,866 | 70,604,705 |
Preferred stock, shares authorized | $0.01 | $0.01 | $0.01 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 | 10,000,000 |
Preferred Stock, Shares Issued | 0 | 0 | 0 |
Preferred Stock, Shares Outstanding | 0 | 0 | 0 |
Treasury Stock, Carrying Basis | $0 | $0 | $230 |
Condensed_Consolidated_Stateme3
Condensed Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 27, 2014 | Sep. 28, 2013 |
Net income | $123,105 | $144,278 |
Depreciation and amortization | 82,548 | 68,067 |
Restructuring Costs and Asset Impairment Charges | 641 | 937 |
Stock-based compensation | 13,049 | 11,150 |
Deferred income taxes | 1,106 | 5,058 |
Provision for loan losses | 42,116 | 33,030 |
Other, net | -1,105 | 545 |
Accounts receivable | 18,680 | 16,899 |
Credit card loans originated from internal operations, net | 55,813 | 38,713 |
Inventories | -292,157 | -263,019 |
Prepaid expenses and other current assets | -11,135 | 36,243 |
Accounts payable and accrued expenses | -32,719 | 9,992 |
Gift instrument, credit card rewards, and loyalty rewards programs | -9,429 | -13,942 |
Other long-term liabilities | 23,439 | 6,417 |
Income taxes receivable | -52,993 | -175 |
Net cash provided by operating activities | -39,041 | 94,193 |
Property and equipment additions | -302,732 | -277,524 |
Payments to Acquire Held-to-maturity Securities | 24,999 | 135,000 |
Proceeds from Sale and Maturity of Held-to-maturity Securities | 25,089 | 0 |
Change in credit card loans originated externally, net | 170,486 | 141,694 |
Proceeds from retirement and maturity of economic development bonds | 3,246 | 3,447 |
Change in restricted cash of the Trust, net | -8,617 | -8,717 |
Other investing changes, net | -241 | -170 |
Net cash used in investing activities | -478,740 | -559,658 |
Change in unpresented checks net of bank balances | 44,314 | -5,183 |
Change in time deposits, net | -238,953 | 99,960 |
Borrowings on secured obligations of the Trust | 685,000 | 1,234,750 |
Repayments on secured obligations of the Trust | -140,000 | -935,000 |
Borrowings on revolving credit facilities and inventory financing | 1,394,263 | 602,876 |
Repayments on revolving credit facilities and inventory financing | -1,049,556 | -398,343 |
Payments on long-term debt | -8,347 | -8,336 |
Exercise of employee stock options and employee stock purchase plan issuances, net | -3,570 | -100 |
Excess tax benefits from exercise of employee stock options | 2,051 | 5,878 |
Purchase of treasury stock | 0 | -10,053 |
Other financing changes, net | -1 | -1 |
Net cash provided by financing activities | 685,201 | 586,448 |
Effect of Exchange Rate on Cash and Cash Equivalents | -1,378 | 0 |
Net change in cash and cash equivalents | 166,042 | 120,983 |
Cash and cash equivalents, at beginning of period | 199,072 | 288,750 |
Cash and cash equivalents, at end of period | $365,114 | $409,733 |
Condensed_Consolidated_Stateme4
Condensed Consolidated Statements of Shareholders' Equity (USD $) | Total | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] | Common Stock [Member] |
In Thousands, except Share data | ||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest Beginning of Period at Dec. 29, 2012 | $1,375,979 | $351,161 | $1,036,427 | $5,542 | ($17,856) | $705 |
Shares, Issued Beginning of Period at Dec. 29, 2012 | ' | ' | ' | ' | ' | 70,545,558 |
Net Income (Loss) Attributable to Parent | 144,278 | ' | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | 940 | 0 | 0 | ' | ' | 0 |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | -740 | ' | ' | -740 | ' | ' |
Common stock repurchased | -10,053 | ' | ' | ' | -10,053 | ' |
Stock-based compensation | 10,708 | 10,708 | 0 | 0 | ' | 0 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | ' | ' | ' | ' | ' | 59,377 |
Adjustments to Additional Paid in Capital, Share-based Compensation, Stock Options, Requisite Service Period Recognition | -100 | -27,995 | 0 | 0 | 27,894 | 1 |
Excess tax benefit on employee stock option exercises | 5,878 | 5,878 | 0 | 0 | ' | 0 |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest End of Period at Sep. 28, 2013 | 1,525,950 | 339,752 | 1,180,705 | 4,802 | -15 | 706 |
Shares, Issued End of Period at Sep. 28, 2013 | ' | ' | ' | ' | ' | 70,604,935 |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest Beginning of Period at Dec. 28, 2013 | 1,606,334 | 346,535 | 1,260,817 | -1,724 | 0 | 706 |
Shares, Issued Beginning of Period at Dec. 28, 2013 | ' | ' | ' | ' | ' | 70,630,866 |
Net Income (Loss) Attributable to Parent | 123,105 | ' | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | -5,936 | 0 | 0 | ' | ' | 0 |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | -1,502 | ' | ' | ' | ' | ' |
Stock-based compensation | 12,562 | 12,562 | 0 | 0 | ' | 0 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 280,951 | ' | ' | ' | ' | 454,339 |
Adjustments to Additional Paid in Capital, Share-based Compensation, Stock Options, Requisite Service Period Recognition | -3,570 | -3,575 | 0 | 0 | 0 | 5 |
Excess tax benefit on employee stock option exercises | 2,051 | 2,051 | 0 | 0 | ' | 0 |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest End of Period at Sep. 27, 2014 | $1,738,980 | $357,573 | $1,383,922 | ($3,226) | $0 | $711 |
Shares, Issued End of Period at Sep. 27, 2014 | ' | ' | ' | ' | ' | 71,085,205 |
Management_Representations
Management Representations | 9 Months Ended |
Sep. 27, 2014 | |
Management Representations [Abstract] | ' |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | ' |
MANAGEMENT REPRESENTATIONS | |
Principles of Consolidation – The condensed consolidated financial statements included herein are unaudited and have been prepared by management of Cabela's Incorporated and its wholly-owned subsidiaries (“Cabela's,” “Company,” “we,” or “our”) pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations. The Company's condensed consolidated balance sheet as of December 28, 2013, was derived from the Company's audited consolidated balance sheet as of that date. All other condensed consolidated financial statements contained herein are unaudited and reflect all adjustments which are, in the opinion of management, necessary to summarize fairly our financial position and results of operations, comprehensive income, and cash flows for the periods presented. All of these adjustments are of a normal recurring nature. All intercompany accounts and transactions have been eliminated in consolidation. | |
Cabela's wholly-owned bank subsidiary, World's Foremost Bank ("WFB," "Financial Services segment," or "Cabela's CLUB"), is the primary beneficiary of the Cabela's Master Credit Card Trust and related entities (collectively referred to as the “Trust”) under the guidance of Accounting Standards Codification ("ASC") Topics 810, Consolidations, and 860, Transfers and Servicing. Accordingly, the Trust was consolidated for all reporting periods of Cabela's in this report. As the servicer and the holder of retained interests in the Trust, WFB has the powers to direct the activities that most significantly impact the Trust's economic performance and the right to receive significant benefits or obligations to absorb significant losses of the Trust. The credit card loans of the Trust are recorded as restricted credit card loans and the liabilities of the Trust are recorded as secured obligations. | |
Because of the seasonal nature of the Company's operations, results of operations of any single reporting period should not be considered as indicative of results for a full year. These condensed consolidated financial statements should be read in conjunction with the Company's audited consolidated financial statements for the fiscal year ended December 28, 2013. | |
Cash and Cash Equivalents – Cash and cash equivalents of the Financial Services segment were $303,975, $94,112, and $334,832 at September 27, 2014, December 28, 2013, and September 28, 2013, respectively. Due to regulatory restrictions on WFB, the Company cannot use WFB's cash for non-banking operations. | |
Reporting Periods – Unless otherwise stated, the fiscal periods referred to in the notes to these condensed consolidated financial statements are the 13 weeks ended September 27, 2014 (“three months ended September 27, 2014”), the 13 weeks ended September 28, 2013 (“three months ended September 28, 2013”), the 39 weeks ended September 27, 2014 ("nine months ended September 27, 2014"), the 39 weeks ended September 28, 2013 ("nine months ended September 28, 2013"), and the 52 weeks ended December 28, 2013 ("year ended 2013"). WFB follows a calendar fiscal period and, accordingly, the respective three and nine month periods ended on September 30, 2014 and 2013, and the fiscal year ended on December 31, 2013. |
Cabelas_Master_Credit_Card_Tru
Cabela's Master Credit Card Trust | 9 Months Ended | |||||||||||||||||||||||
Sep. 27, 2014 | ||||||||||||||||||||||||
Cabela's Master Credit Card Trust [Abstract] | ' | |||||||||||||||||||||||
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | ' | |||||||||||||||||||||||
CABELA'S MASTER CREDIT CARD TRUST | ||||||||||||||||||||||||
The Financial Services segment utilizes the Trust for the purpose of routinely securitizing credit card loans and issuing beneficial interests to investors. The Trust issues variable funding facilities and long-term notes (collectively referred to herein as "secured obligations of the Trust"), each of which has an undivided interest in the assets of the Trust. The Financial Services segment also owns notes issued by the Trust from some of the securitizations, which in some cases may be subordinated to other notes issued. | ||||||||||||||||||||||||
The following table presents the components of the consolidated assets and liabilities of the Trust at the periods ended: | ||||||||||||||||||||||||
September 27, | December 28, | September 28, | ||||||||||||||||||||||
2014 | 2013 | 2013 | ||||||||||||||||||||||
Consolidated assets: | ||||||||||||||||||||||||
Restricted credit card loans, net of allowance of $52,510, $52,820, and $57,030 | $ | 3,983,821 | $ | 3,903,410 | $ | 3,534,814 | ||||||||||||||||||
Restricted cash | 31,808 | 23,191 | 26,009 | |||||||||||||||||||||
Total | $ | 4,015,629 | $ | 3,926,601 | $ | 3,560,823 | ||||||||||||||||||
Consolidated liabilities: | ||||||||||||||||||||||||
Secured variable funding obligations | $ | — | $ | 50,000 | $ | — | ||||||||||||||||||
Secured long-term obligations | 3,047,250 | 2,452,250 | 2,452,250 | |||||||||||||||||||||
Interest due to third party investors | 2,064 | 1,904 | 2,214 | |||||||||||||||||||||
Total | $ | 3,049,314 | $ | 2,504,154 | $ | 2,454,464 | ||||||||||||||||||
CREDIT CARD LOANS AND ALLOWANCE FOR LOAN LOSSES | ||||||||||||||||||||||||
The following table reflects the composition of the credit card loans at the periods ended: | ||||||||||||||||||||||||
September 27, | December 28, | September 28, | ||||||||||||||||||||||
2014 | 2013 | 2013 | ||||||||||||||||||||||
Restricted credit card loans of the Trust (restricted for repayment of secured obligations of the Trust) | $ | 4,036,331 | $ | 3,956,230 | $ | 3,591,844 | ||||||||||||||||||
Unrestricted credit card loans | 22,811 | 29,619 | 27,999 | |||||||||||||||||||||
Total credit card loans | 4,059,142 | 3,985,849 | 3,619,843 | |||||||||||||||||||||
Allowance for loan losses | (52,700 | ) | (53,110 | ) | (57,370 | ) | ||||||||||||||||||
Deferred credit card origination costs | 4,745 | 5,891 | 4,950 | |||||||||||||||||||||
Credit card loans, net | $ | 4,011,187 | $ | 3,938,630 | $ | 3,567,423 | ||||||||||||||||||
Allowance for Loan Losses: | ||||||||||||||||||||||||
The following table reflects the activity in the allowance for loan losses by credit card segment for the periods presented: | ||||||||||||||||||||||||
Three Months Ended | ||||||||||||||||||||||||
27-Sep-14 | 28-Sep-13 | |||||||||||||||||||||||
Credit Card Loans | Restructured Credit Card Loans | Total Credit Card Loans | Credit Card Loans | Restructured Credit Card Loans | Total Credit Card Loans | |||||||||||||||||||
Balance, beginning of period | $ | 40,440 | $ | 6,910 | $ | 47,350 | $ | 43,500 | $ | 19,000 | $ | 62,500 | ||||||||||||
Provision for loan losses | 16,706 | 2,382 | 19,088 | 13,280 | (4,876 | ) | 8,404 | |||||||||||||||||
Charge-offs | (14,601 | ) | (3,409 | ) | (18,010 | ) | (13,841 | ) | (3,636 | ) | (17,477 | ) | ||||||||||||
Recoveries | 3,165 | 1,107 | 4,272 | 2,931 | 1,012 | 3,943 | ||||||||||||||||||
Net charge-offs | (11,436 | ) | (2,302 | ) | (13,738 | ) | (10,910 | ) | (2,624 | ) | (13,534 | ) | ||||||||||||
Balance, end of period | $ | 45,710 | $ | 6,990 | $ | 52,700 | $ | 45,870 | $ | 11,500 | $ | 57,370 | ||||||||||||
Nine Months Ended | ||||||||||||||||||||||||
27-Sep-14 | 28-Sep-13 | |||||||||||||||||||||||
Credit Card Loans | Restructured Credit Card Loans | Total Credit Card Loans | Credit Card Loans | Restructured Credit Card Loans | Total Credit Card Loans | |||||||||||||||||||
Balance, beginning of period | $ | 44,660 | $ | 8,450 | $ | 53,110 | $ | 42,600 | $ | 23,000 | $ | 65,600 | ||||||||||||
Provision for loan losses | 35,819 | 6,297 | 42,116 | 37,227 | (4,197 | ) | 33,030 | |||||||||||||||||
Charge-offs | (45,654 | ) | (10,976 | ) | (56,630 | ) | (43,894 | ) | (10,532 | ) | (54,426 | ) | ||||||||||||
Recoveries | 10,885 | 3,219 | 14,104 | 9,937 | 3,229 | 13,166 | ||||||||||||||||||
Net charge-offs | (34,769 | ) | (7,757 | ) | (42,526 | ) | (33,957 | ) | (7,303 | ) | (41,260 | ) | ||||||||||||
Balance, end of period | $ | 45,710 | $ | 6,990 | $ | 52,700 | $ | 45,870 | $ | 11,500 | $ | 57,370 | ||||||||||||
Credit Quality Indicators, Delinquent, and Non-Accrual Loans: | ||||||||||||||||||||||||
The Financial Services segment uses the scores of Fair Isaac Corporation (“FICO”), a widely-used tool for assessing an individual's credit rating, as the primary credit quality indicator, with the risk of loss increasing as an individual's FICO score decreases. | ||||||||||||||||||||||||
The table below provides information on current, non-accrual, past due, and restructured credit card loans by class using the respective quarter FICO score at the periods ended: | ||||||||||||||||||||||||
September 27, 2014: | FICO Score of Credit Card Loans Segment | Restructured Credit Card Loans Segment (1) | ||||||||||||||||||||||
691 and Below | 692 - 758 | 759 and Above | Total | |||||||||||||||||||||
Credit card loan status: | ||||||||||||||||||||||||
Current | $ | 572,619 | $ | 1,351,772 | $ | 2,024,315 | $ | 30,230 | $ | 3,978,936 | ||||||||||||||
1 to 29 days past due | 22,487 | 13,931 | 14,156 | 3,244 | 53,818 | |||||||||||||||||||
30 to 59 days past due | 7,663 | 1,369 | 467 | 1,266 | 10,765 | |||||||||||||||||||
60 or more days past due | 12,965 | 178 | 40 | 2,440 | 15,623 | |||||||||||||||||||
Total past due | 43,115 | 15,478 | 14,663 | 6,950 | 80,206 | |||||||||||||||||||
Total credit card loans | $ | 615,734 | $ | 1,367,250 | $ | 2,038,978 | $ | 37,180 | $ | 4,059,142 | ||||||||||||||
90 days or more past due and still accruing | $ | 6,879 | $ | 27 | $ | 6 | $ | 1,164 | $ | 8,076 | ||||||||||||||
Non-accrual | — | — | — | 5,144 | 5,144 | |||||||||||||||||||
December 28, 2013: | FICO Score of Credit Card Loans Segment | Restructured Credit Card Loans Segment (1) | ||||||||||||||||||||||
691 and Below | 692 - 758 | 759 and Above | Total | |||||||||||||||||||||
Credit card loan status: | ||||||||||||||||||||||||
Current | $ | 527,202 | $ | 1,299,982 | $ | 2,047,424 | $ | 34,444 | $ | 3,909,052 | ||||||||||||||
1 to 29 days past due | 20,702 | 13,421 | 12,953 | 3,962 | 51,038 | |||||||||||||||||||
30 to 59 days past due | 7,013 | 1,229 | 296 | 1,641 | 10,179 | |||||||||||||||||||
60 or more days past due | 12,445 | 184 | 31 | 2,920 | 15,580 | |||||||||||||||||||
Total past due | 40,160 | 14,834 | 13,280 | 8,523 | 76,797 | |||||||||||||||||||
Total credit card loans | $ | 567,362 | $ | 1,314,816 | $ | 2,060,704 | $ | 42,967 | $ | 3,985,849 | ||||||||||||||
90 days or more past due and still accruing | $ | 6,637 | $ | 36 | $ | 17 | $ | 1,381 | $ | 8,071 | ||||||||||||||
Non-accrual | — | — | — | 5,381 | 5,381 | |||||||||||||||||||
September 28, 2013: | FICO Score of Credit Card Loans Segment | Restructured Credit Card Loans Segment (1) | ||||||||||||||||||||||
691 and Below | 692 - 758 | 759 and Above | Total | |||||||||||||||||||||
Credit card loan status: | ||||||||||||||||||||||||
Current | $ | 498,540 | $ | 1,208,374 | $ | 1,803,735 | $ | 36,380 | $ | 3,547,029 | ||||||||||||||
1 to 29 days past due | 19,899 | 13,468 | 11,487 | 3,996 | 48,850 | |||||||||||||||||||
30 to 59 days past due | 6,807 | 1,117 | 290 | 1,876 | 10,090 | |||||||||||||||||||
60 or more days past due | 10,965 | 203 | 19 | 2,687 | 13,874 | |||||||||||||||||||
Total past due | 37,671 | 14,788 | 11,796 | 8,559 | 72,814 | |||||||||||||||||||
Total credit card loans | $ | 536,211 | $ | 1,223,162 | $ | 1,815,531 | $ | 44,939 | $ | 3,619,843 | ||||||||||||||
90 days or more past due and still accruing | $ | 5,624 | $ | 18 | $ | 1 | $ | 1,222 | $ | 6,865 | ||||||||||||||
Non-accrual | — | — | — | 5,672 | 5,672 | |||||||||||||||||||
-1 | Specific allowance for loan losses of $6,990 at September 27, 2014, $8,450 at December 28, 2013, and $11,500 at September 28, 2013, are included in allowance for loan losses. |
Credit_Card_Loans_and_Allowanc
Credit Card Loans and Allowance For Loan Losses | 9 Months Ended | |||||||||||||||||||||||
Sep. 27, 2014 | ||||||||||||||||||||||||
FICO SCores Credit Card Loans [Abstract] | ' | |||||||||||||||||||||||
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | ' | |||||||||||||||||||||||
CABELA'S MASTER CREDIT CARD TRUST | ||||||||||||||||||||||||
The Financial Services segment utilizes the Trust for the purpose of routinely securitizing credit card loans and issuing beneficial interests to investors. The Trust issues variable funding facilities and long-term notes (collectively referred to herein as "secured obligations of the Trust"), each of which has an undivided interest in the assets of the Trust. The Financial Services segment also owns notes issued by the Trust from some of the securitizations, which in some cases may be subordinated to other notes issued. | ||||||||||||||||||||||||
The following table presents the components of the consolidated assets and liabilities of the Trust at the periods ended: | ||||||||||||||||||||||||
September 27, | December 28, | September 28, | ||||||||||||||||||||||
2014 | 2013 | 2013 | ||||||||||||||||||||||
Consolidated assets: | ||||||||||||||||||||||||
Restricted credit card loans, net of allowance of $52,510, $52,820, and $57,030 | $ | 3,983,821 | $ | 3,903,410 | $ | 3,534,814 | ||||||||||||||||||
Restricted cash | 31,808 | 23,191 | 26,009 | |||||||||||||||||||||
Total | $ | 4,015,629 | $ | 3,926,601 | $ | 3,560,823 | ||||||||||||||||||
Consolidated liabilities: | ||||||||||||||||||||||||
Secured variable funding obligations | $ | — | $ | 50,000 | $ | — | ||||||||||||||||||
Secured long-term obligations | 3,047,250 | 2,452,250 | 2,452,250 | |||||||||||||||||||||
Interest due to third party investors | 2,064 | 1,904 | 2,214 | |||||||||||||||||||||
Total | $ | 3,049,314 | $ | 2,504,154 | $ | 2,454,464 | ||||||||||||||||||
CREDIT CARD LOANS AND ALLOWANCE FOR LOAN LOSSES | ||||||||||||||||||||||||
The following table reflects the composition of the credit card loans at the periods ended: | ||||||||||||||||||||||||
September 27, | December 28, | September 28, | ||||||||||||||||||||||
2014 | 2013 | 2013 | ||||||||||||||||||||||
Restricted credit card loans of the Trust (restricted for repayment of secured obligations of the Trust) | $ | 4,036,331 | $ | 3,956,230 | $ | 3,591,844 | ||||||||||||||||||
Unrestricted credit card loans | 22,811 | 29,619 | 27,999 | |||||||||||||||||||||
Total credit card loans | 4,059,142 | 3,985,849 | 3,619,843 | |||||||||||||||||||||
Allowance for loan losses | (52,700 | ) | (53,110 | ) | (57,370 | ) | ||||||||||||||||||
Deferred credit card origination costs | 4,745 | 5,891 | 4,950 | |||||||||||||||||||||
Credit card loans, net | $ | 4,011,187 | $ | 3,938,630 | $ | 3,567,423 | ||||||||||||||||||
Allowance for Loan Losses: | ||||||||||||||||||||||||
The following table reflects the activity in the allowance for loan losses by credit card segment for the periods presented: | ||||||||||||||||||||||||
Three Months Ended | ||||||||||||||||||||||||
27-Sep-14 | 28-Sep-13 | |||||||||||||||||||||||
Credit Card Loans | Restructured Credit Card Loans | Total Credit Card Loans | Credit Card Loans | Restructured Credit Card Loans | Total Credit Card Loans | |||||||||||||||||||
Balance, beginning of period | $ | 40,440 | $ | 6,910 | $ | 47,350 | $ | 43,500 | $ | 19,000 | $ | 62,500 | ||||||||||||
Provision for loan losses | 16,706 | 2,382 | 19,088 | 13,280 | (4,876 | ) | 8,404 | |||||||||||||||||
Charge-offs | (14,601 | ) | (3,409 | ) | (18,010 | ) | (13,841 | ) | (3,636 | ) | (17,477 | ) | ||||||||||||
Recoveries | 3,165 | 1,107 | 4,272 | 2,931 | 1,012 | 3,943 | ||||||||||||||||||
Net charge-offs | (11,436 | ) | (2,302 | ) | (13,738 | ) | (10,910 | ) | (2,624 | ) | (13,534 | ) | ||||||||||||
Balance, end of period | $ | 45,710 | $ | 6,990 | $ | 52,700 | $ | 45,870 | $ | 11,500 | $ | 57,370 | ||||||||||||
Nine Months Ended | ||||||||||||||||||||||||
27-Sep-14 | 28-Sep-13 | |||||||||||||||||||||||
Credit Card Loans | Restructured Credit Card Loans | Total Credit Card Loans | Credit Card Loans | Restructured Credit Card Loans | Total Credit Card Loans | |||||||||||||||||||
Balance, beginning of period | $ | 44,660 | $ | 8,450 | $ | 53,110 | $ | 42,600 | $ | 23,000 | $ | 65,600 | ||||||||||||
Provision for loan losses | 35,819 | 6,297 | 42,116 | 37,227 | (4,197 | ) | 33,030 | |||||||||||||||||
Charge-offs | (45,654 | ) | (10,976 | ) | (56,630 | ) | (43,894 | ) | (10,532 | ) | (54,426 | ) | ||||||||||||
Recoveries | 10,885 | 3,219 | 14,104 | 9,937 | 3,229 | 13,166 | ||||||||||||||||||
Net charge-offs | (34,769 | ) | (7,757 | ) | (42,526 | ) | (33,957 | ) | (7,303 | ) | (41,260 | ) | ||||||||||||
Balance, end of period | $ | 45,710 | $ | 6,990 | $ | 52,700 | $ | 45,870 | $ | 11,500 | $ | 57,370 | ||||||||||||
Credit Quality Indicators, Delinquent, and Non-Accrual Loans: | ||||||||||||||||||||||||
The Financial Services segment uses the scores of Fair Isaac Corporation (“FICO”), a widely-used tool for assessing an individual's credit rating, as the primary credit quality indicator, with the risk of loss increasing as an individual's FICO score decreases. | ||||||||||||||||||||||||
The table below provides information on current, non-accrual, past due, and restructured credit card loans by class using the respective quarter FICO score at the periods ended: | ||||||||||||||||||||||||
September 27, 2014: | FICO Score of Credit Card Loans Segment | Restructured Credit Card Loans Segment (1) | ||||||||||||||||||||||
691 and Below | 692 - 758 | 759 and Above | Total | |||||||||||||||||||||
Credit card loan status: | ||||||||||||||||||||||||
Current | $ | 572,619 | $ | 1,351,772 | $ | 2,024,315 | $ | 30,230 | $ | 3,978,936 | ||||||||||||||
1 to 29 days past due | 22,487 | 13,931 | 14,156 | 3,244 | 53,818 | |||||||||||||||||||
30 to 59 days past due | 7,663 | 1,369 | 467 | 1,266 | 10,765 | |||||||||||||||||||
60 or more days past due | 12,965 | 178 | 40 | 2,440 | 15,623 | |||||||||||||||||||
Total past due | 43,115 | 15,478 | 14,663 | 6,950 | 80,206 | |||||||||||||||||||
Total credit card loans | $ | 615,734 | $ | 1,367,250 | $ | 2,038,978 | $ | 37,180 | $ | 4,059,142 | ||||||||||||||
90 days or more past due and still accruing | $ | 6,879 | $ | 27 | $ | 6 | $ | 1,164 | $ | 8,076 | ||||||||||||||
Non-accrual | — | — | — | 5,144 | 5,144 | |||||||||||||||||||
December 28, 2013: | FICO Score of Credit Card Loans Segment | Restructured Credit Card Loans Segment (1) | ||||||||||||||||||||||
691 and Below | 692 - 758 | 759 and Above | Total | |||||||||||||||||||||
Credit card loan status: | ||||||||||||||||||||||||
Current | $ | 527,202 | $ | 1,299,982 | $ | 2,047,424 | $ | 34,444 | $ | 3,909,052 | ||||||||||||||
1 to 29 days past due | 20,702 | 13,421 | 12,953 | 3,962 | 51,038 | |||||||||||||||||||
30 to 59 days past due | 7,013 | 1,229 | 296 | 1,641 | 10,179 | |||||||||||||||||||
60 or more days past due | 12,445 | 184 | 31 | 2,920 | 15,580 | |||||||||||||||||||
Total past due | 40,160 | 14,834 | 13,280 | 8,523 | 76,797 | |||||||||||||||||||
Total credit card loans | $ | 567,362 | $ | 1,314,816 | $ | 2,060,704 | $ | 42,967 | $ | 3,985,849 | ||||||||||||||
90 days or more past due and still accruing | $ | 6,637 | $ | 36 | $ | 17 | $ | 1,381 | $ | 8,071 | ||||||||||||||
Non-accrual | — | — | — | 5,381 | 5,381 | |||||||||||||||||||
September 28, 2013: | FICO Score of Credit Card Loans Segment | Restructured Credit Card Loans Segment (1) | ||||||||||||||||||||||
691 and Below | 692 - 758 | 759 and Above | Total | |||||||||||||||||||||
Credit card loan status: | ||||||||||||||||||||||||
Current | $ | 498,540 | $ | 1,208,374 | $ | 1,803,735 | $ | 36,380 | $ | 3,547,029 | ||||||||||||||
1 to 29 days past due | 19,899 | 13,468 | 11,487 | 3,996 | 48,850 | |||||||||||||||||||
30 to 59 days past due | 6,807 | 1,117 | 290 | 1,876 | 10,090 | |||||||||||||||||||
60 or more days past due | 10,965 | 203 | 19 | 2,687 | 13,874 | |||||||||||||||||||
Total past due | 37,671 | 14,788 | 11,796 | 8,559 | 72,814 | |||||||||||||||||||
Total credit card loans | $ | 536,211 | $ | 1,223,162 | $ | 1,815,531 | $ | 44,939 | $ | 3,619,843 | ||||||||||||||
90 days or more past due and still accruing | $ | 5,624 | $ | 18 | $ | 1 | $ | 1,222 | $ | 6,865 | ||||||||||||||
Non-accrual | — | — | — | 5,672 | 5,672 | |||||||||||||||||||
-1 | Specific allowance for loan losses of $6,990 at September 27, 2014, $8,450 at December 28, 2013, and $11,500 at September 28, 2013, are included in allowance for loan losses. |
Securities
Securities | 9 Months Ended | |||||||||||||||
Sep. 27, 2014 | ||||||||||||||||
Securities [Abstract] | ' | |||||||||||||||
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | ' | |||||||||||||||
SECURITIES | ||||||||||||||||
Securities consisted of the following for the periods ended: | ||||||||||||||||
Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | |||||||||||||
September 27, 2014: | ||||||||||||||||
Available-for-sale securities: | ||||||||||||||||
Economic development bonds | $ | 67,826 | $ | 14,515 | $ | — | $ | 82,341 | ||||||||
December 28, 2013: | ||||||||||||||||
Available-for-sale securities: | ||||||||||||||||
Economic development bonds | $ | 71,072 | $ | 7,432 | $ | — | $ | 78,504 | ||||||||
September 28, 2013: | ||||||||||||||||
Available-for-sale securities: | ||||||||||||||||
Economic development bonds | $ | 71,098 | $ | 8,199 | $ | (37 | ) | $ | 79,260 | |||||||
Held-to-maturity securities: | ||||||||||||||||
U.S. government agency (1) | $ | 135,000 | $ | 3 | $ | — | $ | 135,003 | ||||||||
-1 | Represents U. S. government agency held-to-maturity securities held by the Financial Services segment and available for utilization only by the Financial Services segment pursuant to regulatory restrictions. | |||||||||||||||
The carrying value and fair value of these securities classified by estimated maturity based on expected future cash flows at September 27, 2014, were as follows: | ||||||||||||||||
Amortized Cost | Fair Value | |||||||||||||||
For the three months ending December 27, 2014 | $ | 1,344 | $ | 1,895 | ||||||||||||
For the fiscal years ending: | ||||||||||||||||
2015 | 2,132 | 2,920 | ||||||||||||||
2016 | 2,677 | 3,526 | ||||||||||||||
2017 | 2,704 | 3,404 | ||||||||||||||
2018 | 3,324 | 4,121 | ||||||||||||||
2019 - 2023 | 23,048 | 28,241 | ||||||||||||||
2024 and thereafter | 32,597 | 38,234 | ||||||||||||||
Totals | $ | 67,826 | $ | 82,341 | ||||||||||||
Interest earned on the securities totaled $2,979 and $3,089 in the nine months ended September 27, 2014, and September 28, 2013, respectively. There were no realized gains or losses on these securities in the nine months ended September 27, 2014, or September 28, 2013. |
Borrowings_of_Financial_Servic
Borrowings of Financial Services Segment | 9 Months Ended | |||||||||||||||||||||||
Sep. 27, 2014 | ||||||||||||||||||||||||
Borrowings of Financial Services Subsidiary [Abstract] | ' | |||||||||||||||||||||||
Debt Disclosure [Text Block] | ' | |||||||||||||||||||||||
BORROWINGS OF FINANCIAL SERVICES SEGMENT | ||||||||||||||||||||||||
The Trust issues fixed and floating (variable) rate term securitizations, which are considered secured obligations backed by restricted credit card loans. A summary of the secured fixed and variable rate long-term obligations of the Trust by series, the expected maturity dates, and the respective weighted average interest rates are presented in the following tables at the periods ended: | ||||||||||||||||||||||||
September 27, 2014: | ||||||||||||||||||||||||
Series | Expected | Fixed Rate Obligations | Interest Rate | Variable Rate Obligations | Interest Rate | Total Obligations | Interest Rate | |||||||||||||||||
Maturity Date | ||||||||||||||||||||||||
Series 2010-I | Jan-15 | $ | — | — | % | $ | 255,000 | 1.6 | % | $ | 255,000 | 1.6 | % | |||||||||||
Series 2010-II | Sep-15 | 127,500 | 2.29 | 85,000 | 0.85 | 212,500 | 1.72 | |||||||||||||||||
Series 2011-II | Jun-16 | 155,000 | 2.39 | 100,000 | 0.75 | 255,000 | 1.75 | |||||||||||||||||
Series 2011-IV | Oct-16 | 165,000 | 1.9 | 90,000 | 0.7 | 255,000 | 1.48 | |||||||||||||||||
Series 2012-I | Feb-17 | 275,000 | 1.63 | 150,000 | 0.68 | 425,000 | 1.3 | |||||||||||||||||
Series 2012-II | Jun-17 | 300,000 | 1.45 | 125,000 | 0.63 | 425,000 | 1.21 | |||||||||||||||||
Series 2013-I | Feb-23 | 327,250 | 2.71 | — | — | 327,250 | 2.71 | |||||||||||||||||
Series 2013-II | Aug-18 | 100,000 | 2.17 | 197,500 | 0.8 | 297,500 | 1.26 | |||||||||||||||||
Series 2014-I | Mar-17 | — | — | 255,000 | 0.5 | 255,000 | 0.5 | |||||||||||||||||
Series 2014-II | Sep-19 | — | — | 340,000 | 0.6 | 340,000 | 0.6 | |||||||||||||||||
Secured long-term obligations of the Trust | 1,449,750 | 1,597,500 | 3,047,250 | |||||||||||||||||||||
Less current maturities | (127,500 | ) | (340,000 | ) | (467,500 | ) | ||||||||||||||||||
Secured long-term obligations of the Trust, less current maturities | $ | 1,322,250 | $ | 1,257,500 | $ | 2,579,750 | ||||||||||||||||||
December 28, 2013: | ||||||||||||||||||||||||
Series | Expected | Fixed Rate Obligations | Interest Rate | Variable Rate Obligations | Interest Rate | Total Obligations | Interest Rate | |||||||||||||||||
Maturity Date | ||||||||||||||||||||||||
Series 2010-I | Jan-15 | $ | — | — | % | $ | 255,000 | 1.62 | % | $ | 255,000 | 1.62 | % | |||||||||||
Series 2010-II | Sep-15 | 127,500 | 2.29 | 85,000 | 0.87 | 212,500 | 1.72 | |||||||||||||||||
Series 2011-II | Jun-16 | 155,000 | 2.39 | 100,000 | 0.77 | 255,000 | 1.75 | |||||||||||||||||
Series 2011-IV | Oct-16 | 165,000 | 1.9 | 90,000 | 0.72 | 255,000 | 1.48 | |||||||||||||||||
Series 2012-I | Feb-17 | 275,000 | 1.63 | 150,000 | 0.7 | 425,000 | 1.3 | |||||||||||||||||
Series 2012-II | Jun-17 | 300,000 | 1.45 | 125,000 | 0.65 | 425,000 | 1.21 | |||||||||||||||||
Series 2013-I | Feb-23 | 327,250 | 2.71 | — | — | 327,250 | 2.71 | |||||||||||||||||
Series 2013-II | Aug-18 | 100,000 | 2.17 | 197,500 | 0.82 | 297,500 | 1.27 | |||||||||||||||||
Secured long-term obligations of the Trust | $ | 1,449,750 | $ | 1,002,500 | $ | 2,452,250 | ||||||||||||||||||
September 28, 2013: | ||||||||||||||||||||||||
Series | Expected | Fixed Rate Obligations | Interest Rate | Variable Rate Obligations | Interest Rate | Total Obligations | Interest Rate | |||||||||||||||||
Maturity Date | ||||||||||||||||||||||||
Series 2010-I | Jan-15 | $ | — | — | % | $ | 255,000 | 1.63 | % | $ | 255,000 | 1.63 | % | |||||||||||
Series 2010-II | Sep-15 | 127,500 | 2.29 | 85,000 | 0.88 | 212,500 | 1.73 | |||||||||||||||||
Series 2011-II | Jun-16 | 155,000 | 2.39 | 100,000 | 0.78 | 255,000 | 1.76 | |||||||||||||||||
Series 2011-IV | Oct-16 | 165,000 | 1.9 | 90,000 | 0.73 | 255,000 | 1.49 | |||||||||||||||||
Series 2012-I | Feb-17 | 275,000 | 1.63 | 150,000 | 0.71 | 425,000 | 1.31 | |||||||||||||||||
Series 2012-II | Jun-17 | 300,000 | 1.45 | 125,000 | 0.66 | 425,000 | 1.22 | |||||||||||||||||
Series 2013-I | Feb-23 | 327,250 | 2.71 | — | — | 327,250 | 2.71 | |||||||||||||||||
Series 2013-II | Aug-18 | 100,000 | 2.17 | 197,500 | 0.88 | 297,500 | 1.31 | |||||||||||||||||
Secured long-term obligations of the Trust | $ | 1,449,750 | $ | 1,002,500 | $ | 2,452,250 | ||||||||||||||||||
The Trust sold asset-backed notes of $300,000 (Series 2014-I) on March 25, 2014, and $400,000 (Series 2014-II) on July 16, 2014. The Series 2014-I securitization transaction included the issuance of $255,000 Class A notes, which accrue interest at a floating rate equal to the one-month London Interbank Offered Rate (“LIBOR”) plus 0.35% per year, and three subordinated classes of notes in the aggregate principal amount of $45,000. The Series 2014-II securitization transaction included the issuance of $340,000 Class A notes, which accrue interest at a floating rate equal to the one-month LIBOR plus 0.45% per year, and three subordinated classes of notes in the aggregate principal amount of $60,000. The Financial Services segment retained each of the subordinated classes of notes which were eliminated in the preparation of our condensed consolidated financial statements. Each class of notes issued in the Series 2014-I securitization transaction has an expected life of approximately three years and a contractual maturity of approximately six years. Each class of notes issued in the Series 2014-II securitization transaction has an expected life of approximately five years and a contractual maturity of approximately eight years. These securitization transactions will be used to fund the growth in restricted credit card loans, maturities of time deposits, and future obligations of the Trust. | ||||||||||||||||||||||||
The Trust also issues variable funding facilities which are considered secured obligations backed by restricted credit card loans. The Trust renewed one of its variable funding facilities on March 27, 2014, for an additional three years and increased the commitment from $350,000 to $500,000. At September 27, 2014, the Trust had three variable funding facilities with $1,025,000 in total capacity and no amounts outstanding. The variable funding facilities are scheduled to mature in March of 2015, 2016, and 2017. Each of these variable funding facilities includes an option to renew subject to certain terms and conditions. Variable rate note interest is priced at a benchmark rate, LIBOR, or commercial paper rate, plus a spread, which ranges from 0.50% to 0.85%. The variable rate notes provide for a fee ranging from 0.25% to 0.40% on the unused portion of the facilities. During the nine months ended September 27, 2014, and September 28, 2013, the daily average balance outstanding on these notes was $2,198 and $33,443, with a weighted average interest rate of 0.75% and 0.78%, respectively. | ||||||||||||||||||||||||
The Financial Services segment has unsecured federal funds purchase agreements with two financial institutions. The maximum amount that can be borrowed is $85,000. There were no amounts outstanding at September 27, 2014, December 28, 2013, or September 28, 2013. During the nine months ended September 27, 2014, there was no daily average balance outstanding. During the nine months ended September 28, 2013, the daily average balance outstanding was $305 with a weighted average rate of 0.75%. |
LongTerm_Debt_and_Capital_Leas
Long-Term Debt and Capital Leases | 9 Months Ended | |||||||||||
Sep. 27, 2014 | ||||||||||||
Long Term Debt and Capital Leases [Abstract] | ' | |||||||||||
Debt and Capital Leases Disclosures [Text Block] | ' | |||||||||||
LONG-TERM DEBT AND CAPITAL LEASES | ||||||||||||
Long-term debt, including revolving credit facilities and capital leases, consisted of the following at the periods ended: | ||||||||||||
September 27, | December 28, | September 28, | ||||||||||
2014 | 2013 | 2013 | ||||||||||
Unsecured revolving credit facility | $ | 340,000 | $ | 2,932 | $ | 200,000 | ||||||
Unsecured notes due 2016 with interest at 5.99% | 215,000 | 215,000 | 215,000 | |||||||||
Unsecured senior notes due 2017 with interest at 6.08% | 60,000 | 60,000 | 60,000 | |||||||||
Unsecured senior notes due 2015-2018 with interest at 7.20% | 32,572 | 40,714 | 40,714 | |||||||||
Unsecured $20 million Canadian revolving credit facility | 6,292 | — | 4,364 | |||||||||
Capital lease obligations payable through 2036 | 12,214 | 12,419 | 12,485 | |||||||||
Total debt | 666,078 | 331,065 | 532,563 | |||||||||
Less current portion of debt | (8,430 | ) | (8,418 | ) | (8,414 | ) | ||||||
Long-term debt, less current maturities | $ | 657,648 | $ | 322,647 | $ | 524,149 | ||||||
On June 18, 2014, the Company amended its credit agreement which now provides for an unsecured $775,000 revolving credit facility and permits the issuance of letters of credit up to $75,000 and swing line loans up to $30,000. The credit agreement formerly provided for a $415,000 revolving credit facility with the issuance of letters of credit up to $100,000 and a $20,000 limit on swing line loans. The credit facility may be increased to $800,000 subject to certain terms and conditions. The term of the credit facility, which formerly expired on November 2, 2016, now expires on June 18, 2019. | ||||||||||||
During the nine months ended September 27, 2014, and September 28, 2013, the daily average principal balance outstanding on the line of credit was $47,929 and $65,030, respectively, and the weighted average interest rate was 1.47% and 1.46%, respectively. Letters of credit and standby letters of credit totaling $32,290 and $27,753 were outstanding at September 27, 2014, and September 28, 2013, respectively. The daily average outstanding amount of total letters of credit during the nine months ended September 27, 2014, and September 28, 2013, was $23,287 and $22,277, respectively. | ||||||||||||
During the term of the $775,000 revolving credit facility, the Company is required to pay a quarterly commitment fee, which ranges from 0.15% to 0.25% (previously 0.30% before the credit agreement was amended) of the average daily unused principal balance on the line of credit. Interest on each base rate advance on this credit facility is equal to the alternate base rate, as defined, plus the applicable margin, as defined. The applicable margin is the percentage rate that is applicable at such time with respect to advances as set forth in the pricing schedule, a stratified interest rate schedule based on the Company's leverage ratio, as defined. Interest on each Eurocurrency advance on this credit facility is equal to the Eurocurrency base rate, as defined, plus the applicable margin, as defined. The applicable margin is the percentage rate that is applicable at such time with respect to advances as set forth in the pricing schedule, a stratified interest rate schedule based on the Company's leverage ratio, as defined. | ||||||||||||
The credit agreement requires that Cabela’s comply with certain financial and other customary covenants, including: | ||||||||||||
• | a fixed charge coverage ratio (as defined) of no less than 2.00 to 1 as of the last day of any fiscal quarter for the most recently ended four fiscal quarters (as defined); | |||||||||||
• | a leverage ratio (as defined) of no more than 3.00 to 1 as of the last day of any fiscal quarter; and | |||||||||||
• | a minimum consolidated net worth standard (as defined) as of the last day of each fiscal quarter (previously "at all times" before the credit agreement was amended). | |||||||||||
The Company also has an unsecured $20,000 Canadian ("CAD") revolving credit facility for its operations in Canada. Borrowings are payable on demand with interest payable monthly. This credit facility permits the issuance of letters of credit up to $10,000 CAD in the aggregate, which reduces the overall available credit limit. | ||||||||||||
At September 27, 2014, the Company was in compliance with the financial covenant requirements of its $775,000 credit agreement with a fixed charge coverage ratio of 8.39 to 1 (minimum requirement is 2.00 to 1), a leverage ratio of 1.11 to 1 (requirement is no more than 3.00 to 1), and a consolidated net worth that was $594,301 in excess of the minimum. At September 27, 2014, the Company was in compliance with all financial covenants under its credit agreements and unsecured notes. We anticipate that we will continue to be in compliance with all financial covenants under our credit agreements and unsecured notes through at least the next 12 months. |
Income_Taxes
Income Taxes | 9 Months Ended | |||||||||||
Sep. 27, 2014 | ||||||||||||
Income Taxes [Abstract] | ' | |||||||||||
Income Tax Disclosure [Text Block] | ' | |||||||||||
INCOME TAXES | ||||||||||||
A reconciliation of the statutory federal income tax rate to the effective income tax rate was as follows for the periods presented. | ||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||
September 27, | September 28, | September 27, | September 28, | |||||||||
2014 | 2013 | 2014 | 2013 | |||||||||
Statutory federal rate | 35 | % | 35 | % | 35 | % | 35 | % | ||||
State income taxes, net of federal tax benefit | 2.2 | 1.4 | 2 | 1.4 | ||||||||
Other nondeductible items | 0.4 | 0.2 | 0.4 | 0.2 | ||||||||
Tax exempt interest income | (0.6 | ) | (0.5 | ) | (0.5 | ) | (0.4 | ) | ||||
Rate differential on foreign income | 2.8 | (5.2 | ) | 0.9 | (4.2 | ) | ||||||
Change in unrecognized tax benefits | — | (0.8 | ) | (1.0 | ) | — | ||||||
Other, net | 0.2 | 1.2 | 0.5 | — | ||||||||
Effective income tax rate | 40 | % | 31.3 | % | 37.3 | % | 32 | % | ||||
The increases in our effective tax rate comparing the three and nine months ended September 27, 2014, to the respective 2013 periods are due to an increase of $3,872 related to tax adjustments attributable to changes in the mix of prior year taxable income between the United States and foreign tax jurisdictions and an increase in our state effective tax rate. | ||||||||||||
As of September 27, 2014, cash and cash equivalents held by our foreign subsidiaries totaled $19,770. Our intent is to permanently reinvest these funds outside the United States for capital expansion. Based on the Company's current projected capital needs and the current amount of cash and cash equivalents held by our foreign subsidiaries, we do not anticipate incurring any material tax costs beyond our accrued tax position in connection with any repatriation, but we may be required to accrue for unanticipated additional tax costs in the future if our expectations or the amount of cash held by our foreign subsidiaries change. | ||||||||||||
In the three months ended September 27, 2014, the Company paid a deposit of $50,000 for federal taxes related to prior period uncertain tax positions. Prior to 2013, the Company paid a total of $53,418 as deposits for federal taxes related to prior period uncertain tax positions for a total of $103,418 in deposits outstanding. These deposits were classified as a current asset netted within income taxes receivable and deferred income taxes in the condensed consolidated balance sheets. | ||||||||||||
The Company's tax years 2007 through 2011 are under examination by the Internal Revenue Service ("IRS"). In late 2012, the IRS issued a revenue agent report summarizing its determination of the adjustments required to the 2007 and 2008 income tax returns. We disagree with the adjustments made by the IRS in their revenue agent report and are currently appealing the adjustments. We expect the appeals process for the 2007 and 2008 tax years to be completed within the next 12 months. We do not expect the examination and related appeal for the 2009, 2010, and 2011 tax years to be completed within the next 12 months. We have reserved for potential adjustments for income taxes that may result from examinations by the tax authorities, and we believe that the final outcome of these examinations or agreements will not have a material effect on the Company's financial condition, results of operations, or cash flows. | ||||||||||||
The balance of unrecognized tax benefits, classified as other long-term liabilities in the condensed consolidated balance sheets, totaled $79,490, $64,800, and $42,215 at September 27, 2014, December 28, 2013, and September 28, 2013, respectively. The changes comparing the respective periods were due primarily to our assessments of uncertain tax positions related to prior period tax positions. Since the Company is routinely under audit by various taxing authorities, and the Company expects to resolve the tax issues at appeals for the 2007 and 2008 examination years in 2015, it is reasonably possible that the amount of unrecognized tax benefits will change during the next 12 months. However, we do not expect the change, if any, to have a material effect on the Company's consolidated financial condition or results of operations within the next 12 months. |
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended | |||
Sep. 27, 2014 | ||||
Commitments and Contingencies [Abstract] | ' | |||
Commitments and Contingencies Disclosure [Text Block] | ' | |||
COMMITMENTS AND CONTINGENCIES | ||||
The Company leases various buildings, computer and other equipment, and storage space under operating leases which expire on various dates through January 2041. Rent expense on these leases as well as other month to month rentals was $6,146 and $14,050 in the three and nine months ended September 27, 2014, compared to $3,955 and $10,843 in the three and nine months ended September 28, 2013. | ||||
The following is a schedule of future minimum rental payments under operating leases at September 27, 2014: | ||||
For the three months ending December 27, 2014 | $ | 5,863 | ||
For the fiscal years ending: | ||||
2015 | 22,493 | |||
2016 | 23,061 | |||
2017 | 22,605 | |||
2018 | 29,073 | |||
Thereafter | 305,012 | |||
Total | $ | 408,107 | ||
The Company leases 25 of its retail store sites. Certain of these leases include tenant allowances that are amortized over the life of the lease. The Company received $7,243 in tenant allowances in the nine months ended September 27, 2014, and $4,950 during the nine months ended September 28, 2013. The Company does not expect to receive any additional tenant allowances under leases during the remainder of 2014. Certain leases require the Company to pay contingent rental amounts based on a percentage of sales, in addition to real estate taxes, insurance, maintenance, and other operating expenses associated with the leased premises. These leases have terms which include renewal options ranging from 10 to 70 years. | ||||
The Company has entered into real estate purchase, construction, and/or economic incentive agreements for various new retail store site locations. At September 27, 2014, the Company estimated it had total cash commitments of approximately $609,500 outstanding for projected expenditures related to the development, construction, and completion of new retail stores and a new distribution center. This amount excludes any estimated costs associated with new stores where the Company does not have a commitment as of September 27, 2014. We expect to fund these estimated capital expenditures over the next 12 months with cash generated from operations and borrowings. | ||||
Under various grant programs, state or local governments provide funding for certain costs associated with developing and opening a new retail store. The Company generally receives grant funding in exchange for commitments, such as assurance of agreed employment and wage levels at the retail store or that the retail store will remain open, made by the Company to the state or local government providing the funding. The commitments typically phase out over approximately five to 10 years. If the Company failed to maintain the commitments during the applicable period, the funds received may have to be repaid or other adverse consequences may arise, which could affect the Company's cash flows and profitability. At September 27, 2014, the total amount of grant funding subject to a specific contractual remedy was $44,231. No grant funding was received in the nine months ended September 27, 2014. At September 27, 2014, December 28, 2013, and September 28, 2013, the amount the Company had recorded in liabilities in the condensed consolidated balance sheets relating to these grants was $22,650, $22,536, and $6,673, respectively. | ||||
The Company operates an open account document instructions program, which provides for Cabela's-issued letters of credit. We had obligations to pay participating vendors $63,352, $48,409, and $60,579 at September 27, 2014, December 28, 2013, and September 28, 2013, respectively. | ||||
The Financial Services segment enters into financial instruments with off-balance sheet risk in the normal course of business through the origination of unsecured credit card loans. Unsecured credit card accounts are commitments to extend credit and totaled $29,360,000, $25,255,000, and $25,093,000 at September 27, 2014, December 28, 2013, and September 28, 2013, respectively. These commitments are in addition to any current outstanding balances of a cardholder. Unsecured credit card loans involve, to varying degrees, elements of credit risk in excess of the amount recognized in the condensed consolidated balance sheets. The principal amounts of these instruments reflect the Financial Services segment's maximum related exposure. The Financial Services segment has not experienced and does not anticipate that all customers will exercise the entire available line of credit at any given point in time. The Financial Services segment has the right to reduce or cancel the available lines of credit at any time. | ||||
Visa Litigation Settlement – In June 2005, a number of entities, each purporting to represent a class of retail merchants, sued Visa and several member banks, and other credit card associations, alleging, among other things, that Visa and its member banks violated United States antitrust laws by conspiring to fix the level of interchange fees. In July 2012, the parties to this litigation entered into a settlement agreement to resolve the claims brought by the class members. On December 13, 2013, the settlement received final court approval. The settlement agreement required, among other things, (i) the distribution to class merchants of an amount equal to 10 basis points of default interchange across all credit rate categories for a period of eight consecutive months, which otherwise would have been paid to issuers like WFB, (ii) Visa to change its rules to allow merchants to charge a surcharge on credit card transactions subject to a cap, and (iii) Visa to meet with merchant buying groups that seek to negotiate interchange rates collectively. To date, WFB has not been named as a defendant in any credit card industry lawsuits. The remaining related liability of $951 was settled in the second quarter of 2014. Therefore, at September 27, 2014, no liability was outstanding for this settlement compared to $4,687 at December 28, 2013, and $8,300 at September 28, 2013. | ||||
Litigation and Claims – The Company is party to various legal proceedings arising in the ordinary course of business. These actions include commercial, intellectual property, employment, regulatory, and product liability claims. Some of these actions involve complex factual and legal issues and are subject to uncertainties. The activities of WFB are subject to complex federal and state laws and regulations. WFB's regulators are authorized to conduct compliance examinations and impose penalties for violations of these laws and regulations and, in some cases, to order WFB to pay restitution. For example, the Federal Deposit Insurance Corporation ("FDIC") conducted compliance examinations in 2009, 2011, and 2013 and found that certain practices of WFB were improper. As a result of these compliance examinations, the FDIC issued consent orders and WFB was required to take corrective action and pay restitution and civil money penalties. The Company cannot predict with assurance the outcome of the actions brought against it. Accordingly, adverse developments, settlements, or resolutions may occur and have a material effect on the Company's results of operations for the period in which such development, settlement, or resolution occurs. However, the Company does not believe that the outcome of any current legal proceedings would have a material effect on its results of operations, cash flows, or financial position taken as a whole. | ||||
On January 6, 2011, the Company received a Commissioner's charge from the Chair of the U. S. Equal Employment Opportunity Commission ("EEOC") alleging that the Company has discriminated against non-Whites on the basis of their race and national origin in recruitment and hiring. Although the Company disputes these allegations, the Company recently entered into preliminary settlement negotiations with the EEOC to resolve this matter. At the present time, the Company believes that it is probable that it will incur a loss related to the EEOC matter, but given the early stage of the settlement negotiations, the lack of any specific monetary demand from the EEOC, and the ongoing nature and complexity of this matter, the Company cannot reasonably estimate any loss or range of loss that may arise from this matter. Accordingly, the Company has not accrued a liability related to the EEOC matter. Although the Company does not presently believe that the EEOC matter will have a material adverse effect on its business, given the inherent uncertainties in this situation, the Company can provide no assurance that this matter will not be material to its business in the future. |
StockBased_Compensation_Plans_
Stock-Based Compensation Plans and Employee Benefit Plans | 9 Months Ended |
Sep. 27, 2014 | |
Stock Award Plans [Abstract] | ' |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' |
STOCK-BASED COMPENSATION PLANS AND EMPLOYEE BENEFIT PLANS | |
Stock-Based Compensation – The Company recognized total stock-based compensation expense of $4,484 and $13,049 for the three and nine months ended September 27, 2014, and $3,837 and $11,150 for the three and nine months ended September 28, 2013. Compensation expense related to the Company's stock-based payment awards is recognized in selling, distribution, and administrative expenses in the condensed consolidated statements of income. At September 27, 2014, the total unrecognized deferred stock-based compensation balance for all equity awards issued, net of expected forfeitures, was $29,663, net of tax, which is expected to be amortized over a weighted average period of 2.8 years. | |
2013 Stock Plan – The Cabela's Incorporated 2013 Stock Plan (the "2013 Stock Plan"), which replaced the Company's 2004 Stock Plan, provides for the grant of incentive stock options, non-statutory stock options ("NSOs"), stock appreciation rights, performance stock, performance units, restricted stock, and restricted stock units to employees and consultants. Non-employee directors are eligible to receive any type of award offered under the 2013 Stock Plan except incentive stock options. Awards granted under the 2013 Stock Plan have a term of no greater than ten years from the grant date and become exercisable under the vesting schedule determined at the time of grant. As of September 27, 2014, the maximum number of shares available for awards under the 2013 Stock Plan was 3,334,274. | |
As of September 27, 2014, there were 2,734,674 awards outstanding under the 2004 Stock Plan and 665,726 awards outstanding under the 2013 Stock Plan. To the extent available, we will issue treasury shares for the exercise of stock options before issuing new shares. | |
Option Awards – During the nine months ended September 27, 2014, there were 194,905 NSOs granted to employees at an exercise price of $66.32 per share. These options have an eight-year term and vest over four years. In addition, on March 2, 2014, the Company also issued 64,000 premium-priced NSOs to its President and Chief Executive Officer at an exercise price of $76.27 (which was equal to 115% of the closing price of the Company's common stock on the New York Stock Exchange on February 28, 2014). The premium-priced NSOs vest in three equal annual installments beginning on March 2, 2017, and expire on March 2, 2022. | |
During the nine months ended September 27, 2014, the Company granted 40,000 NSOs to non-employee directors at a weighted average exercise price of $61.53 per share. These options have an eight-year term and vest over one year. | |
During the nine months ended September 27, 2014, there were 280,951 options exercised. The aggregate intrinsic value of awards exercised was $18,435 and $17,854 during the nine months ended September 27, 2014, and September 28, 2013, respectively. Based on the Company's closing stock price of $58.49 at September 27, 2014, the total number of in-the-money awards exercisable as of September 27, 2014, was 1,921,295. | |
Nonvested Stock and Stock Unit Awards – During the nine months ended September 27, 2014, the Company issued 291,705 units of nonvested stock to employees at a weighted average fair value of $66.28 per unit. These nonvested stock units vest evenly over four years on the grant date anniversary based on the passage of time. On March 2, 2014, the Company also issued 51,050 units of performance-based restricted stock units to certain executives at a fair value of $66.32 per unit. These performance-based restricted stock units will begin vesting in four equal annual installments on March 2, 2015, if the performance criteria are achieved. | |
On June 5, 2014, the Company granted 409 units of nonvested stock to a non-employee director of WFB under the 2013 Stock Plan at a fair value of $61.23 per unit. These nonvested stock units vest over one year. | |
Employee Stock Purchase Plan – During the nine months ended September 27, 2014, there were 52,830 shares issued under the Cabela's Incorporated 2013 Employee Stock Purchase Plan (the "2013 ESPP"). As of September 27, 2014, there were 1,917,355 shares of common stock authorized and available for issuance under the 2013 ESPP. |
Stockholders_Equity_and_Divide
Stockholders' Equity and Dividend Restrictions | 9 Months Ended | |||||||||||
Sep. 27, 2014 | ||||||||||||
Shareholders' Equity and Dividend Restrictions [Abstract] | ' | |||||||||||
Stockholders' Equity Note Disclosure [Text Block] | ' | |||||||||||
STOCKHOLDERS' EQUITY AND DIVIDEND RESTRICTIONS | ||||||||||||
Retained Earnings – The most significant restrictions on the payment of dividends are contained within the covenants under the Company's revolving credit and unsecured senior notes purchase agreements. Also, Nebraska banking laws govern the amount of dividends that WFB can pay to Cabela's. In April 2014, WFB paid a $40,000 dividend to Cabela's. At September 27, 2014, the Company had unrestricted retained earnings of $229,377 available for dividends. However, the Company has never declared or paid any cash dividends on its common stock, and does not anticipate paying any cash dividends in the foreseeable future. | ||||||||||||
Accumulated Other Comprehensive Income (Loss) – The components of accumulated other comprehensive income (loss), net of related taxes, are as follows for the periods ended: | ||||||||||||
September 27, | December 28, | September 28, | ||||||||||
2014 | 2013 | 2013 | ||||||||||
Accumulated net unrealized holding gains on economic development bonds | $ | 9,116 | $ | 4,682 | $ | 5,142 | ||||||
Cumulative foreign currency translation adjustments | (12,342 | ) | (6,406 | ) | (340 | ) | ||||||
Total accumulated other comprehensive income (loss) | $ | (3,226 | ) | $ | (1,724 | ) | $ | 4,802 | ||||
Treasury Stock – The Company announced on February 13, 2014, its intent to repurchase up to 650,000 shares of its common stock in open market transactions through February 2015. There is no guarantee as to the exact number of shares that we will repurchase. During the three and nine months ended September 27, 2014, there were no shares repurchased. There were 650,000 shares remaining to be purchased at September 27, 2014, under the February 2014 repurchase program. | ||||||||||||
The following table reconciles the Company's treasury stock activity for the periods presented. | ||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||
September 27, | September 28, | September 27, | September 28, | |||||||||
2014 | 2013 | 2014 | 2013 | |||||||||
Balance, beginning of period | — | 13,737 | — | 492,414 | ||||||||
Purchase of treasury stock at cost (1) | — | 17,439 | — | 181,179 | ||||||||
Treasury shares issued on exercise of stock options and share-based payment awards | — | (30,946 | ) | — | (673,363 | ) | ||||||
Balance, end of period | — | 230 | — | 230 | ||||||||
-1 | Reflects common stock withheld (under the terms of grants pursuant to a stock compensation plan) totaling 17,439 shares to offset tax withholding obligations upon the vesting and release of restricted shares on July 7, 2013. |
Earnings_Per_Share
Earnings Per Share | 9 Months Ended | |||||||||||
Sep. 27, 2014 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Earnings Per Share [Text Block] | ' | |||||||||||
EARNINGS PER SHARE | ||||||||||||
The following table reconciles the weighted average number of shares utilized in the earnings per share calculations for the periods presented. | ||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||
September 27, | September 28, | September 27, | September 28, | |||||||||
2014 | 2013 | 2014 | 2013 | |||||||||
Common shares – basic | 71,068,933 | 70,575,804 | 70,957,321 | 70,412,479 | ||||||||
Effect of incremental dilutive securities: | ||||||||||||
Stock options, nonvested stock units, and employee stock purchase plans | 624,203 | 1,182,097 | 928,151 | 1,305,415 | ||||||||
Common shares – diluted | 71,693,136 | 71,757,901 | 71,885,472 | 71,717,894 | ||||||||
Stock options outstanding and nonvested stock units issued considered anti-dilutive excluded from calculation | 730,139 | 37,582 | 574,234 | 12,527 | ||||||||
Supplemental_Cash_Flow_Informa
Supplemental Cash Flow Information | 9 Months Ended | |||||||
Sep. 27, 2014 | ||||||||
Supplemental Cash Flow Information [Abstract] | ' | |||||||
Cash Flow, Supplemental Disclosures [Text Block] | ' | |||||||
SUPPLEMENTAL CASH FLOW INFORMATION | ||||||||
The following table sets forth non-cash financing and investing activities and other cash flow information for the nine months ended: | ||||||||
September 27, | September 28, | |||||||
2014 | 2013 | |||||||
Non-cash financing and investing activities: | ||||||||
Accrued property and equipment additions (1) | $ | 52,917 | $ | 49,007 | ||||
Depreciation adjustment reducing deferred grant income | (831 | ) | — | |||||
Other cash flow information: | ||||||||
Interest paid (2) | $ | 62,790 | $ | 58,778 | ||||
Capitalized interest | (6,047 | ) | (2,942 | ) | ||||
Interest paid, net of capitalized interest | $ | 56,743 | $ | 55,836 | ||||
Income taxes paid, net of refunds | $ | 106,672 | $ | 52,532 | ||||
-1 | Accrued property and equipment additions are recognized in the condensed consolidated statements of cash flows in the period they are paid. | |||||||
-2 | Includes interest from the Financial Services segment totaling $47,910 and $45,987, respectively. |
Segment_Reporting
Segment Reporting | 9 Months Ended | |||||||||||||||||||
Sep. 27, 2014 | ||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||
Segment Reporting Disclosure [Text Block] | ' | |||||||||||||||||||
SEGMENT REPORTING | ||||||||||||||||||||
The Company has three reportable segments: Retail, Direct, and Financial Services. The Retail segment sells products and services through the Company's retail stores. The Direct segment sells products through our e-commerce websites (Cabelas.com and Cabelas.ca) and direct mail catalogs. The Financial Services segment issues co-branded credit cards. Revenues included in Corporate Overhead and Other are primarily made up of amounts received from outfitter services, real estate rental income, land sales, and fees earned through the Company's travel business and other complementary business services. Operating costs by segment consist primarily of: | ||||||||||||||||||||
• | labor, advertising, depreciation, and retail store related occupancy costs for the Retail segment; | |||||||||||||||||||
• | direct marketing costs (e-commerce advertising and catalog costs) and order processing costs for the Direct segment; | |||||||||||||||||||
• | advertising and promotion, license fees, third party services for processing credit card transactions, employee compensation and benefits, and other general and administrative costs for the Financial Services segment; and | |||||||||||||||||||
• | unallocated shared-service costs, operations of various ancillary subsidiaries such as real estate development and travel, and segment eliminations for the Corporate Overhead and Other segment. Unallocated shared-service costs include receiving, distribution, and storage costs of inventory, merchandising, and quality assurance costs, as well as corporate headquarters occupancy costs. | |||||||||||||||||||
Segment assets are those directly used in or clearly allocable to an operating segment’s operations. Depreciation, amortization, and property and equipment expenditures are recognized in each respective segment. Major assets by segment include: | ||||||||||||||||||||
• | Retail segment – inventory in the retail stores, land, buildings, fixtures, and leasehold improvements, and goodwill. The balance of goodwill in the Retail segment totaled $3,157, $3,295, and $3,406 at September 27, 2014, December 28, 2013, and September 28, 2013, respectively. The change in the carrying value of goodwill between periods was due to foreign currency adjustments. | |||||||||||||||||||
• | Direct segment – fixed assets and deferred catalog costs. | |||||||||||||||||||
• | Financial Services segment – cash, credit card loans, restricted cash, receivables, fixtures, and other assets. Cash and cash equivalents of the Financial Services segment were $303,975, $94,112, and $334,832 at September 27, 2014, December 28, 2013, and September 28, 2013, respectively. | |||||||||||||||||||
• | Corporate Overhead and Other segment – corporate headquarters and facilities, merchandise distribution inventory, shared technology infrastructure and related information technology systems, corporate cash and cash equivalents, economic development bonds, prepaid expenses, deferred income taxes, and other corporate long-lived assets. | |||||||||||||||||||
Under an Intercompany Agreement, the Financial Services segment pays to the Retail and Direct segments a fixed license fee that includes 70 basis points on all originated charge volume of the Cabela's CLUB Visa credit card portfolio. In addition, among other items, the agreement requires the Financial Services segment to reimburse the Retail and Direct segments for certain promotional costs, which are recorded as a reduction to Financial Services segment revenue and as a reduction to merchandise costs associated with the Retail and Direct segments. Beginning in the second quarter of 2014, this reimbursement from our Financial Services segment to our Retail and Direct segments for certain promotional costs has been adjusted to eliminate in consolidation. Prior periods have not been adjusted. | ||||||||||||||||||||
Also, if the total risk-based capital ratio of WFB is greater than 13% at any quarter end, the Financial Services segment must pay an additional license fee to the Retail and Direct business segments equal to 50% of the amount that the total risk-based capital ratio exceeds 13%. At March 31, 2014, the total risk-based capital ratio of WFB exceeded this 13% threshold; therefore, an additional license fee of $10,945 was paid in April 2014 by the Financial Services segment to the Retail ($6,676) and Direct ($4,269) segments and was classified in selling, distribution, and administrative expenses. | ||||||||||||||||||||
Financial information by segment is presented in the following tables for the periods presented: | ||||||||||||||||||||
Corporate Overhead and Other | ||||||||||||||||||||
Financial Services | ||||||||||||||||||||
Retail | Direct | Total | ||||||||||||||||||
Three Months Ended September 27, 2014: | ||||||||||||||||||||
Merchandise sales | $ | 598,103 | $ | 175,335 | $ | — | $ | — | $ | 773,438 | ||||||||||
Non-merchandise revenue: | ||||||||||||||||||||
Financial Services | — | — | 104,236 | — | 104,236 | |||||||||||||||
Other | 583 | — | — | 2,849 | 3,432 | |||||||||||||||
Total revenue before intersegment eliminations | 598,686 | 175,335 | 104,236 | 2,849 | 881,106 | |||||||||||||||
Intersegment revenue eliminated in consolidation | — | — | 4,896 | — | 4,896 | |||||||||||||||
Total revenue as reported | $ | 598,686 | $ | 175,335 | $ | 109,132 | $ | 2,849 | $ | 886,002 | ||||||||||
Operating income (loss) | $ | 108,552 | $ | 18,236 | $ | 28,158 | $ | (61,031 | ) | $ | 93,915 | |||||||||
As a percentage of revenue | 18.1 | % | 10.4 | % | 27 | % | N/A | 10.6 | % | |||||||||||
Depreciation and amortization | $ | 17,427 | $ | 1,228 | $ | 391 | $ | 10,257 | $ | 29,303 | ||||||||||
Assets | 1,568,243 | 254,074 | 4,447,850 | 945,297 | 7,215,464 | |||||||||||||||
Property and equipment additions including accrued amounts | 73,545 | 21 | 289 | 28,165 | 102,020 | |||||||||||||||
Three Months Ended September 28, 2013: | ||||||||||||||||||||
Merchandise sales | $ | 550,545 | $ | 198,596 | $ | — | $ | — | $ | 749,141 | ||||||||||
Non-merchandise revenue: | ||||||||||||||||||||
Financial Services | — | — | 98,403 | — | 98,403 | |||||||||||||||
Other | 333 | — | — | 2,951 | 3,284 | |||||||||||||||
Total Revenue | $ | 550,878 | $ | 198,596 | $ | 98,403 | $ | 2,951 | $ | 850,828 | ||||||||||
Operating income (loss) | $ | 103,658 | $ | 29,284 | $ | 29,182 | $ | (85,521 | ) | $ | 76,603 | |||||||||
As a percentage of revenue | 18.8 | % | 14.7 | % | 29.7 | % | N/A | 9 | % | |||||||||||
Depreciation and amortization | $ | 14,094 | $ | 1,874 | $ | 400 | $ | 7,803 | $ | 24,171 | ||||||||||
Assets | 1,274,722 | 177,428 | 4,133,412 | 876,503 | 6,462,065 | |||||||||||||||
Property and equipment additions including accrued amounts | 82,468 | 3 | 253 | 16,995 | 99,719 | |||||||||||||||
Corporate Overhead and Other | ||||||||||||||||||||
Financial Services | ||||||||||||||||||||
Retail | Direct | Total | ||||||||||||||||||
Nine Months Ended September 27, 2014: | ||||||||||||||||||||
Merchandise sales | $ | 1,538,634 | $ | 501,867 | $ | — | $ | — | $ | 2,040,501 | ||||||||||
Non-merchandise revenue: | ||||||||||||||||||||
Financial Services | — | — | 307,402 | — | 307,402 | |||||||||||||||
Other | 1,437 | — | — | 14,014 | 15,451 | |||||||||||||||
Total revenue before intersegment eliminations | 1,540,071 | 501,867 | 307,402 | 14,014 | 2,363,354 | |||||||||||||||
Intersegment revenue eliminated in consolidation | — | — | 9,672 | — | 9,672 | |||||||||||||||
Total revenue as reported | $ | 1,540,071 | $ | 501,867 | $ | 317,074 | $ | 14,014 | $ | 2,373,026 | ||||||||||
Operating income (loss) | $ | 260,656 | $ | 75,429 | $ | 84,847 | $ | (214,173 | ) | $ | 206,759 | |||||||||
As a percentage of revenue | 16.9 | % | 15 | % | 27.6 | % | N/A | 8.7 | % | |||||||||||
Depreciation and amortization | $ | 49,473 | $ | 3,684 | $ | 1,149 | $ | 28,242 | $ | 82,548 | ||||||||||
Assets | 1,568,243 | 254,074 | 4,447,850 | 945,297 | 7,215,464 | |||||||||||||||
Property and equipment additions including accrued amounts | 237,580 | 134 | 1,276 | 78,967 | 317,957 | |||||||||||||||
Nine Months Ended September 28, 2013: | ||||||||||||||||||||
Merchandise sales | $ | 1,520,660 | $ | 603,878 | $ | — | $ | — | $ | 2,124,538 | ||||||||||
Non-merchandise revenue: | ||||||||||||||||||||
Financial Services | — | — | 272,753 | — | 272,753 | |||||||||||||||
Other | 890 | — | — | 11,949 | 12,839 | |||||||||||||||
Total Revenue | $ | 1,521,550 | $ | 603,878 | $ | 272,753 | $ | 11,949 | $ | 2,410,130 | ||||||||||
Operating income (loss) | $ | 279,409 | $ | 104,912 | $ | 79,198 | $ | (240,866 | ) | $ | 222,653 | |||||||||
As a percentage of revenue | 18.4 | % | 17.4 | % | 29 | % | N/A | 9.2 | % | |||||||||||
Depreciation and amortization | $ | 39,921 | $ | 5,635 | $ | 1,158 | $ | 21,353 | $ | 68,067 | ||||||||||
Assets | 1,274,722 | 177,428 | 4,133,412 | 876,503 | 6,462,065 | |||||||||||||||
Property and equipment additions including accrued amounts | 202,245 | 103 | 1,153 | 43,562 | 247,063 | |||||||||||||||
The following table sets forth the components of Financial Services revenue for the periods presented: | ||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||
September 27, | September 28, | September 27, | September 28, | |||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||
Interest and fee income | $ | 103,333 | $ | 87,945 | $ | 292,204 | $ | 250,383 | ||||||||||||
Interest expense | (16,155 | ) | (17,075 | ) | (47,845 | ) | (46,863 | ) | ||||||||||||
Provision for loan losses | (19,088 | ) | (8,404 | ) | (42,116 | ) | (33,030 | ) | ||||||||||||
Net interest income, net of provision for loan losses | 68,090 | 62,466 | 202,243 | 170,490 | ||||||||||||||||
Non-interest income: | ||||||||||||||||||||
Interchange income | 93,817 | 88,963 | 267,756 | 252,290 | ||||||||||||||||
Other non-interest income | 999 | 1,430 | 2,621 | 4,113 | ||||||||||||||||
Total non-interest income | 94,816 | 90,393 | 270,377 | 256,403 | ||||||||||||||||
Less: Customer rewards costs | (53,774 | ) | (54,456 | ) | (155,546 | ) | (154,140 | ) | ||||||||||||
Financial Services revenue | $ | 109,132 | $ | 98,403 | $ | 317,074 | $ | 272,753 | ||||||||||||
The following table sets forth the percentage of our merchandise revenue contributed by major product categories for our Retail and Direct segments and in total for the three and nine months ended September 27, 2014, and September 28, 2013. | ||||||||||||||||||||
Three Months Ended: | Retail | Direct | Total | |||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||
Product Category: | ||||||||||||||||||||
Hunting Equipment | 48.6 | % | 51.1 | % | 43.4 | % | 47.6 | % | 47.3 | % | 50.2 | % | ||||||||
General Outdoors | 30.7 | 28.3 | 30.4 | 27.8 | 30.6 | 28.2 | ||||||||||||||
Clothing and Footwear | 20.7 | 20.6 | 26.2 | 24.6 | 22.1 | 21.6 | ||||||||||||||
Total | 100 | % | 100 | % | 100 | % | 100 | % | 100 | % | 100 | % | ||||||||
Nine Months Ended: | Retail | Direct | Total | |||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||
Product Category: | ||||||||||||||||||||
Hunting Equipment | 46.9 | % | 52.1 | % | 38.7 | % | 45.2 | % | 44.8 | % | 50.2 | % | ||||||||
General Outdoors | 33.1 | 29.3 | 35.6 | 30.9 | 33.8 | 29.7 | ||||||||||||||
Clothing and Footwear | 20 | 18.6 | 25.7 | 23.9 | 21.4 | 20.1 | ||||||||||||||
Total | 100 | % | 100 | % | 100 | % | 100 | % | 100 | % | 100 | % |
Fair_Value_Measurements
Fair Value Measurements | 9 Months Ended | |||||||||||||||||||||||
Sep. 27, 2014 | ||||||||||||||||||||||||
Fair Value Measurements [Abstract] | ' | |||||||||||||||||||||||
Fair Value Disclosures [Text Block] | ' | |||||||||||||||||||||||
FAIR VALUE MEASUREMENTS | ||||||||||||||||||||||||
Financial instrument assets and liabilities measured and reported at fair value are classified and disclosed in one of the following categories: | ||||||||||||||||||||||||
• | Level 1 – Quoted market prices in active markets for identical assets or liabilities. | |||||||||||||||||||||||
• | Level 2 – Observable inputs other than quoted market prices. | |||||||||||||||||||||||
• | Level 3 – Unobservable inputs corroborated by little, if any, market data. | |||||||||||||||||||||||
Level 3 is comprised of financial instruments whose fair value is estimated based on internally developed models or methodologies utilizing significant inputs that are primarily unobservable from objective sources. At September 27, 2014, the financial instruments carried on our condensed consolidated balance sheets subject to fair value measurements consisted of economic development bonds and were classified as Level 3 for valuation purposes. For the three and nine months ended September 27, 2014, and September 28, 2013, there were no transfers in or out of Levels 1, 2, or 3. | ||||||||||||||||||||||||
The Company's recurring financial instruments classified as Level 3 for valuation purposes consists of economic development bonds. The table below presents changes in fair value of the economic development bonds measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the periods presented: | ||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||
September 27, | September 28, | September 27, | September 28, | |||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Balance, beginning of period | $ | 78,429 | $ | 79,043 | $ | 78,504 | $ | 85,041 | ||||||||||||||||
Total gains or losses: | ||||||||||||||||||||||||
Included in earnings - realized | — | — | — | — | ||||||||||||||||||||
Included in accumulated other comprehensive income (loss) - unrealized | 4,736 | 1,043 | 7,083 | (2,334 | ) | |||||||||||||||||||
Valuation adjustments | — | — | — | — | ||||||||||||||||||||
Purchases, issuances, and settlements: | ||||||||||||||||||||||||
Purchases | — | — | — | — | ||||||||||||||||||||
Issuances | — | — | — | — | ||||||||||||||||||||
Settlements | (824 | ) | (826 | ) | (3,246 | ) | (3,447 | ) | ||||||||||||||||
Total | (824 | ) | (826 | ) | (3,246 | ) | (3,447 | ) | ||||||||||||||||
Balance, end of period | $ | 82,341 | $ | 79,260 | $ | 82,341 | $ | 79,260 | ||||||||||||||||
Fair values of the Company's economic development bonds were estimated using discounted cash flow projection estimates. These estimates are based on available market interest rates and the estimated amounts and timing of expected future payments to be received from municipalities under tax development zones, which we consider to be unobservable inputs (Level 3). These fair values do not reflect any premium or discount that could result from offering these bonds for sale or through early redemption, or any related income tax impact. Declines in the fair value of available-for-sale economic development bonds below cost that are deemed to be other than temporary are reflected in earnings. For the three and nine months ended September 27, 2014, and September 28, 2013, there were no other than temporary fair value adjustments of economic development bonds and no adjustments of deferred grant income related to economic development bonds. | ||||||||||||||||||||||||
We evaluate the recoverability of property and equipment, other property, and goodwill and intangibles whenever indicators of impairment exist using significant unobservable inputs. This evaluation included existing store locations and future retail store sites. | ||||||||||||||||||||||||
On February 4, 2014, a U. S. district court (the "Court") entered a judgment against the Company in the amount of $13,625 relating to litigation regarding a breach of a retail store radius restriction. At December 28, 2013, pursuant to this judgment, the Company recognized a liability of $14,125, including an estimated amount for legal fees and costs, in its consolidated balance sheet. The Company is currently in the process of appealing the Court's ruling. On March 21, 2014, through a supplemental judgment, the Court ordered that the Company pay interest in the amount of $1,062 to the plaintiff. At September 27, 2014, our liability relating to this judgment totaled $15,707, which included an additional amount for estimated legal fees and costs. The increase to this liability resulted in the Company recording an increase to the carrying amount of the related retail store property through a reduction in deferred grant income by the additional amounts accrued, plus legal and other costs. The additional depreciation adjustment that reduced the deferred grant income of this retail store property resulted in an increase in depreciation expense of $831 that was recognized in the three months ended March 29, 2014. This increase in depreciation expense was included in selling, distribution, and administrative expenses in the condensed consolidated statements of income and was recorded to the Retail segment. There was no additional depreciation expense adjustment recognized after March 29, 2014. | ||||||||||||||||||||||||
The Company recognized an impairment loss of $937 during the nine months ended September 28, 2013, related to the closure of its former Winnipeg retail store in conjunction with the opening of a new next-generation store in Winnipeg in May 2013. The impairment loss of $937 included leasehold improvements write-offs as well as lease cancellation and restoration costs. | ||||||||||||||||||||||||
Local economic trends, government regulations, and other restrictions where we own properties may impact management projections that could change undiscounted cash flows in future periods which could trigger possible future write downs. | ||||||||||||||||||||||||
The carrying amounts of cash and cash equivalents, accounts receivable, restricted cash, accounts payable, gift instruments (including credit card and loyalty rewards programs), accrued expenses, and income taxes receivable and payable included in the condensed consolidated balance sheets approximate fair value given the short-term nature of these financial instruments. The secured variable funding obligations of the Trust, which include variable rates of interest that adjust daily, can fluctuate daily based on the short-term operational needs of the Financial Services segment with advances and pay downs at par value. Therefore, the carrying value of the secured variable funding obligations of the Trust approximates fair value. | ||||||||||||||||||||||||
The table below presents the estimated fair values of the Company's financial instruments that are not carried at fair value on our condensed consolidated balance sheets at the periods indicated. The fair values of all financial instruments listed below were estimated based on internally developed models or methodologies utilizing observable inputs (Level 2). | ||||||||||||||||||||||||
September 27, 2014 | December 28, 2013 | September 28, 2013 | ||||||||||||||||||||||
Carrying Value | Estimated Fair Value | Carrying Value | Estimated Fair Value | Carrying Value | Estimated Fair Value | |||||||||||||||||||
Financial Assets: | ||||||||||||||||||||||||
Credit card loans, net | $ | 4,011,187 | $ | 4,011,187 | $ | 3,938,630 | $ | 3,938,630 | $ | 3,567,423 | $ | 3,567,423 | ||||||||||||
Held-to-maturity investment securities | — | — | — | — | 135,000 | 135,003 | ||||||||||||||||||
Financial Liabilities: | ||||||||||||||||||||||||
Time deposits | 830,409 | 828,579 | 1,069,362 | 1,070,831 | 1,147,978 | 1,153,801 | ||||||||||||||||||
Secured long-term obligations of the Trust | 3,047,250 | 2,996,236 | 2,452,250 | 2,405,494 | 2,452,250 | 2,320,576 | ||||||||||||||||||
Long-term debt | 666,078 | 688,282 | 331,065 | 363,848 | 532,563 | 565,280 | ||||||||||||||||||
Credit Card Loans. Credit card loans are originated with variable rates of interest that adjust with changing market interest rates, so the carrying value of the credit card loans, including the carrying value of deferred credit card origination costs, less the allowance for loan losses, approximates fair value. This valuation does not include the value that relates to estimated cash flows generated from new loans over the life of the cardholder relationship. Accordingly, the aggregate fair value of the credit card loans does not represent the underlying value of the established cardholder relationship. | ||||||||||||||||||||||||
Time Deposits. Time deposits are pooled in homogeneous groups, and the future cash flows of those groups are discounted using current market rates offered for similar products for purposes of estimating fair value. For all periods presented, we have consistently applied our discounting methodologies to estimated future cash flows in determining estimated fair value for time deposits. | ||||||||||||||||||||||||
Secured Long-Term Obligations of the Trust. The estimated fair value of secured long-term obligations of the Trust is based on future cash flows associated with each type of debt discounted using current borrowing rates for similar types of debt of comparable maturity. For all periods presented, we have consistently applied our discounting methodologies to estimated future cash flows in determining estimated fair value for secured long-term obligations of the Trust. | ||||||||||||||||||||||||
Long-Term Debt. The estimated fair value of long-term debt is based on future cash flows associated with each type of debt discounted using current borrowing rates for similar types of debt of comparable maturity. For all periods presented, we have consistently applied our discounting methodologies to estimated future cash flows in determining estimated fair value for long-term debt. |
Cabelas_Master_Credit_Card_Tru1
Cabela's Master Credit Card Trust (Tables) | 9 Months Ended | |||||||||||
Sep. 27, 2014 | ||||||||||||
Consolidated Assets and Liabilities of the Trust [Abstract] | ' | |||||||||||
Consolidated Assets and Liabilities of the Trust [Table Text Block] | ' | |||||||||||
The following table presents the components of the consolidated assets and liabilities of the Trust at the periods ended: | ||||||||||||
September 27, | December 28, | September 28, | ||||||||||
2014 | 2013 | 2013 | ||||||||||
Consolidated assets: | ||||||||||||
Restricted credit card loans, net of allowance of $52,510, $52,820, and $57,030 | $ | 3,983,821 | $ | 3,903,410 | $ | 3,534,814 | ||||||
Restricted cash | 31,808 | 23,191 | 26,009 | |||||||||
Total | $ | 4,015,629 | $ | 3,926,601 | $ | 3,560,823 | ||||||
Consolidated liabilities: | ||||||||||||
Secured variable funding obligations | $ | — | $ | 50,000 | $ | — | ||||||
Secured long-term obligations | 3,047,250 | 2,452,250 | 2,452,250 | |||||||||
Interest due to third party investors | 2,064 | 1,904 | 2,214 | |||||||||
Total | $ | 3,049,314 | $ | 2,504,154 | $ | 2,454,464 | ||||||
Credit_Card_Loans_and_Allowanc1
Credit Card Loans and Allowance For Loan Losses Credit Card Loans (Tables) | 9 Months Ended | |||||||||||||||||||||||
Sep. 27, 2014 | ||||||||||||||||||||||||
Credit Card Loans [Abstract] | ' | |||||||||||||||||||||||
Credit Card Loans [Table Text Block] | ' | |||||||||||||||||||||||
The following table reflects the composition of the credit card loans at the periods ended: | ||||||||||||||||||||||||
September 27, | December 28, | September 28, | ||||||||||||||||||||||
2014 | 2013 | 2013 | ||||||||||||||||||||||
Restricted credit card loans of the Trust (restricted for repayment of secured obligations of the Trust) | $ | 4,036,331 | $ | 3,956,230 | $ | 3,591,844 | ||||||||||||||||||
Unrestricted credit card loans | 22,811 | 29,619 | 27,999 | |||||||||||||||||||||
Total credit card loans | 4,059,142 | 3,985,849 | 3,619,843 | |||||||||||||||||||||
Allowance for loan losses | (52,700 | ) | (53,110 | ) | (57,370 | ) | ||||||||||||||||||
Deferred credit card origination costs | 4,745 | 5,891 | 4,950 | |||||||||||||||||||||
Credit card loans, net | $ | 4,011,187 | $ | 3,938,630 | $ | 3,567,423 | ||||||||||||||||||
Allowance for Credit Losses on Financing Receivables [Table Text Block] | ' | |||||||||||||||||||||||
The following table reflects the activity in the allowance for loan losses by credit card segment for the periods presented: | ||||||||||||||||||||||||
Three Months Ended | ||||||||||||||||||||||||
27-Sep-14 | 28-Sep-13 | |||||||||||||||||||||||
Credit Card Loans | Restructured Credit Card Loans | Total Credit Card Loans | Credit Card Loans | Restructured Credit Card Loans | Total Credit Card Loans | |||||||||||||||||||
Balance, beginning of period | $ | 40,440 | $ | 6,910 | $ | 47,350 | $ | 43,500 | $ | 19,000 | $ | 62,500 | ||||||||||||
Provision for loan losses | 16,706 | 2,382 | 19,088 | 13,280 | (4,876 | ) | 8,404 | |||||||||||||||||
Charge-offs | (14,601 | ) | (3,409 | ) | (18,010 | ) | (13,841 | ) | (3,636 | ) | (17,477 | ) | ||||||||||||
Recoveries | 3,165 | 1,107 | 4,272 | 2,931 | 1,012 | 3,943 | ||||||||||||||||||
Net charge-offs | (11,436 | ) | (2,302 | ) | (13,738 | ) | (10,910 | ) | (2,624 | ) | (13,534 | ) | ||||||||||||
Balance, end of period | $ | 45,710 | $ | 6,990 | $ | 52,700 | $ | 45,870 | $ | 11,500 | $ | 57,370 | ||||||||||||
Nine Months Ended | ||||||||||||||||||||||||
27-Sep-14 | 28-Sep-13 | |||||||||||||||||||||||
Credit Card Loans | Restructured Credit Card Loans | Total Credit Card Loans | Credit Card Loans | Restructured Credit Card Loans | Total Credit Card Loans | |||||||||||||||||||
Balance, beginning of period | $ | 44,660 | $ | 8,450 | $ | 53,110 | $ | 42,600 | $ | 23,000 | $ | 65,600 | ||||||||||||
Provision for loan losses | 35,819 | 6,297 | 42,116 | 37,227 | (4,197 | ) | 33,030 | |||||||||||||||||
Charge-offs | (45,654 | ) | (10,976 | ) | (56,630 | ) | (43,894 | ) | (10,532 | ) | (54,426 | ) | ||||||||||||
Recoveries | 10,885 | 3,219 | 14,104 | 9,937 | 3,229 | 13,166 | ||||||||||||||||||
Net charge-offs | (34,769 | ) | (7,757 | ) | (42,526 | ) | (33,957 | ) | (7,303 | ) | (41,260 | ) | ||||||||||||
Balance, end of period | $ | 45,710 | $ | 6,990 | $ | 52,700 | $ | 45,870 | $ | 11,500 | $ | 57,370 | ||||||||||||
Financing Receivable Credit Quality Indicators [Table Text Block] | ' | |||||||||||||||||||||||
The table below provides information on current, non-accrual, past due, and restructured credit card loans by class using the respective quarter FICO score at the periods ended: | ||||||||||||||||||||||||
September 27, 2014: | FICO Score of Credit Card Loans Segment | Restructured Credit Card Loans Segment (1) | ||||||||||||||||||||||
691 and Below | 692 - 758 | 759 and Above | Total | |||||||||||||||||||||
Credit card loan status: | ||||||||||||||||||||||||
Current | $ | 572,619 | $ | 1,351,772 | $ | 2,024,315 | $ | 30,230 | $ | 3,978,936 | ||||||||||||||
1 to 29 days past due | 22,487 | 13,931 | 14,156 | 3,244 | 53,818 | |||||||||||||||||||
30 to 59 days past due | 7,663 | 1,369 | 467 | 1,266 | 10,765 | |||||||||||||||||||
60 or more days past due | 12,965 | 178 | 40 | 2,440 | 15,623 | |||||||||||||||||||
Total past due | 43,115 | 15,478 | 14,663 | 6,950 | 80,206 | |||||||||||||||||||
Total credit card loans | $ | 615,734 | $ | 1,367,250 | $ | 2,038,978 | $ | 37,180 | $ | 4,059,142 | ||||||||||||||
90 days or more past due and still accruing | $ | 6,879 | $ | 27 | $ | 6 | $ | 1,164 | $ | 8,076 | ||||||||||||||
Non-accrual | — | — | — | 5,144 | 5,144 | |||||||||||||||||||
December 28, 2013: | FICO Score of Credit Card Loans Segment | Restructured Credit Card Loans Segment (1) | ||||||||||||||||||||||
691 and Below | 692 - 758 | 759 and Above | Total | |||||||||||||||||||||
Credit card loan status: | ||||||||||||||||||||||||
Current | $ | 527,202 | $ | 1,299,982 | $ | 2,047,424 | $ | 34,444 | $ | 3,909,052 | ||||||||||||||
1 to 29 days past due | 20,702 | 13,421 | 12,953 | 3,962 | 51,038 | |||||||||||||||||||
30 to 59 days past due | 7,013 | 1,229 | 296 | 1,641 | 10,179 | |||||||||||||||||||
60 or more days past due | 12,445 | 184 | 31 | 2,920 | 15,580 | |||||||||||||||||||
Total past due | 40,160 | 14,834 | 13,280 | 8,523 | 76,797 | |||||||||||||||||||
Total credit card loans | $ | 567,362 | $ | 1,314,816 | $ | 2,060,704 | $ | 42,967 | $ | 3,985,849 | ||||||||||||||
90 days or more past due and still accruing | $ | 6,637 | $ | 36 | $ | 17 | $ | 1,381 | $ | 8,071 | ||||||||||||||
Non-accrual | — | — | — | 5,381 | 5,381 | |||||||||||||||||||
September 28, 2013: | FICO Score of Credit Card Loans Segment | Restructured Credit Card Loans Segment (1) | ||||||||||||||||||||||
691 and Below | 692 - 758 | 759 and Above | Total | |||||||||||||||||||||
Credit card loan status: | ||||||||||||||||||||||||
Current | $ | 498,540 | $ | 1,208,374 | $ | 1,803,735 | $ | 36,380 | $ | 3,547,029 | ||||||||||||||
1 to 29 days past due | 19,899 | 13,468 | 11,487 | 3,996 | 48,850 | |||||||||||||||||||
30 to 59 days past due | 6,807 | 1,117 | 290 | 1,876 | 10,090 | |||||||||||||||||||
60 or more days past due | 10,965 | 203 | 19 | 2,687 | 13,874 | |||||||||||||||||||
Total past due | 37,671 | 14,788 | 11,796 | 8,559 | 72,814 | |||||||||||||||||||
Total credit card loans | $ | 536,211 | $ | 1,223,162 | $ | 1,815,531 | $ | 44,939 | $ | 3,619,843 | ||||||||||||||
90 days or more past due and still accruing | $ | 5,624 | $ | 18 | $ | 1 | $ | 1,222 | $ | 6,865 | ||||||||||||||
Non-accrual | — | — | — | 5,672 | 5,672 | |||||||||||||||||||
-1 | Specific allowance for loan losses of $6,990 at September 27, 2014, $8,450 at December 28, 2013, and $11,500 at September 28, 2013, are included in allowance for loan losses. |
Securities_Tables
Securities (Tables) | 9 Months Ended | |||||||||||||||
Sep. 27, 2014 | ||||||||||||||||
Securities [Abstract] | ' | |||||||||||||||
Available-for-sale Securities [Table Text Block] | ' | |||||||||||||||
: | ||||||||||||||||
Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | |||||||||||||
September 27, 2014: | ||||||||||||||||
Available-for-sale securities: | ||||||||||||||||
Economic development bonds | $ | 67,826 | $ | 14,515 | $ | — | $ | 82,341 | ||||||||
December 28, 2013: | ||||||||||||||||
Available-for-sale securities: | ||||||||||||||||
Economic development bonds | $ | 71,072 | $ | 7,432 | $ | — | $ | 78,504 | ||||||||
September 28, 2013: | ||||||||||||||||
Available-for-sale securities: | ||||||||||||||||
Economic development bonds | $ | 71,098 | $ | 8,199 | $ | (37 | ) | $ | 79,260 | |||||||
Held-to-maturity securities: | ||||||||||||||||
U.S. government agency (1) | $ | 135,000 | $ | 3 | $ | — | $ | 135,003 | ||||||||
-1 | Represents U. S. government agency held-to-maturity securities held by the Financial Services segment and available for utilization only by the Financial Services segment pursuant to regulatory restrictions. | |||||||||||||||
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | ' | |||||||||||||||
The carrying value and fair value of these securities classified by estimated maturity based on expected future cash flows at September 27, 2014, were as follows: | ||||||||||||||||
Amortized Cost | Fair Value | |||||||||||||||
For the three months ending December 27, 2014 | $ | 1,344 | $ | 1,895 | ||||||||||||
For the fiscal years ending: | ||||||||||||||||
2015 | 2,132 | 2,920 | ||||||||||||||
2016 | 2,677 | 3,526 | ||||||||||||||
2017 | 2,704 | 3,404 | ||||||||||||||
2018 | 3,324 | 4,121 | ||||||||||||||
2019 - 2023 | 23,048 | 28,241 | ||||||||||||||
2024 and thereafter | 32,597 | 38,234 | ||||||||||||||
Totals | $ | 67,826 | $ | 82,341 | ||||||||||||
Borrowings_of_Financial_Servic1
Borrowings of Financial Services Segment (Tables) | 9 Months Ended | |||||||||||||||||||||||
Sep. 27, 2014 | ||||||||||||||||||||||||
Borrowings of the Financial Services Segment [Abstract] | ' | |||||||||||||||||||||||
Schedule of Assets and Associated Liabilities Accounted for as Secured Borrowings [Table Text Block] | ' | |||||||||||||||||||||||
September 27, 2014: | ||||||||||||||||||||||||
Series | Expected | Fixed Rate Obligations | Interest Rate | Variable Rate Obligations | Interest Rate | Total Obligations | Interest Rate | |||||||||||||||||
Maturity Date | ||||||||||||||||||||||||
Series 2010-I | Jan-15 | $ | — | — | % | $ | 255,000 | 1.6 | % | $ | 255,000 | 1.6 | % | |||||||||||
Series 2010-II | Sep-15 | 127,500 | 2.29 | 85,000 | 0.85 | 212,500 | 1.72 | |||||||||||||||||
Series 2011-II | Jun-16 | 155,000 | 2.39 | 100,000 | 0.75 | 255,000 | 1.75 | |||||||||||||||||
Series 2011-IV | Oct-16 | 165,000 | 1.9 | 90,000 | 0.7 | 255,000 | 1.48 | |||||||||||||||||
Series 2012-I | Feb-17 | 275,000 | 1.63 | 150,000 | 0.68 | 425,000 | 1.3 | |||||||||||||||||
Series 2012-II | Jun-17 | 300,000 | 1.45 | 125,000 | 0.63 | 425,000 | 1.21 | |||||||||||||||||
Series 2013-I | Feb-23 | 327,250 | 2.71 | — | — | 327,250 | 2.71 | |||||||||||||||||
Series 2013-II | Aug-18 | 100,000 | 2.17 | 197,500 | 0.8 | 297,500 | 1.26 | |||||||||||||||||
Series 2014-I | Mar-17 | — | — | 255,000 | 0.5 | 255,000 | 0.5 | |||||||||||||||||
Series 2014-II | Sep-19 | — | — | 340,000 | 0.6 | 340,000 | 0.6 | |||||||||||||||||
Secured long-term obligations of the Trust | 1,449,750 | 1,597,500 | 3,047,250 | |||||||||||||||||||||
Less current maturities | (127,500 | ) | (340,000 | ) | (467,500 | ) | ||||||||||||||||||
Secured long-term obligations of the Trust, less current maturities | $ | 1,322,250 | $ | 1,257,500 | $ | 2,579,750 | ||||||||||||||||||
December 28, 2013: | ||||||||||||||||||||||||
Series | Expected | Fixed Rate Obligations | Interest Rate | Variable Rate Obligations | Interest Rate | Total Obligations | Interest Rate | |||||||||||||||||
Maturity Date | ||||||||||||||||||||||||
Series 2010-I | Jan-15 | $ | — | — | % | $ | 255,000 | 1.62 | % | $ | 255,000 | 1.62 | % | |||||||||||
Series 2010-II | Sep-15 | 127,500 | 2.29 | 85,000 | 0.87 | 212,500 | 1.72 | |||||||||||||||||
Series 2011-II | Jun-16 | 155,000 | 2.39 | 100,000 | 0.77 | 255,000 | 1.75 | |||||||||||||||||
Series 2011-IV | Oct-16 | 165,000 | 1.9 | 90,000 | 0.72 | 255,000 | 1.48 | |||||||||||||||||
Series 2012-I | Feb-17 | 275,000 | 1.63 | 150,000 | 0.7 | 425,000 | 1.3 | |||||||||||||||||
Series 2012-II | Jun-17 | 300,000 | 1.45 | 125,000 | 0.65 | 425,000 | 1.21 | |||||||||||||||||
Series 2013-I | Feb-23 | 327,250 | 2.71 | — | — | 327,250 | 2.71 | |||||||||||||||||
Series 2013-II | Aug-18 | 100,000 | 2.17 | 197,500 | 0.82 | 297,500 | 1.27 | |||||||||||||||||
Secured long-term obligations of the Trust | $ | 1,449,750 | $ | 1,002,500 | $ | 2,452,250 | ||||||||||||||||||
September 28, 2013: | ||||||||||||||||||||||||
Series | Expected | Fixed Rate Obligations | Interest Rate | Variable Rate Obligations | Interest Rate | Total Obligations | Interest Rate | |||||||||||||||||
Maturity Date | ||||||||||||||||||||||||
Series 2010-I | Jan-15 | $ | — | — | % | $ | 255,000 | 1.63 | % | $ | 255,000 | 1.63 | % | |||||||||||
Series 2010-II | Sep-15 | 127,500 | 2.29 | 85,000 | 0.88 | 212,500 | 1.73 | |||||||||||||||||
Series 2011-II | Jun-16 | 155,000 | 2.39 | 100,000 | 0.78 | 255,000 | 1.76 | |||||||||||||||||
Series 2011-IV | Oct-16 | 165,000 | 1.9 | 90,000 | 0.73 | 255,000 | 1.49 | |||||||||||||||||
Series 2012-I | Feb-17 | 275,000 | 1.63 | 150,000 | 0.71 | 425,000 | 1.31 | |||||||||||||||||
Series 2012-II | Jun-17 | 300,000 | 1.45 | 125,000 | 0.66 | 425,000 | 1.22 | |||||||||||||||||
Series 2013-I | Feb-23 | 327,250 | 2.71 | — | — | 327,250 | 2.71 | |||||||||||||||||
Series 2013-II | Aug-18 | 100,000 | 2.17 | 197,500 | 0.88 | 297,500 | 1.31 | |||||||||||||||||
Secured long-term obligations of the Trust | $ | 1,449,750 | $ | 1,002,500 | $ | 2,452,250 | ||||||||||||||||||
LongTerm_Debt_and_Capital_Leas1
Long-Term Debt and Capital Leases (Tables) | 9 Months Ended | |||||||||||
Sep. 27, 2014 | ||||||||||||
Debt Instrument [Line Items] | ' | |||||||||||
Schedule of Debt [Table Text Block] | ' | |||||||||||
Long-term debt, including revolving credit facilities and capital leases, consisted of the following at the periods ended: | ||||||||||||
September 27, | December 28, | September 28, | ||||||||||
2014 | 2013 | 2013 | ||||||||||
Unsecured revolving credit facility | $ | 340,000 | $ | 2,932 | $ | 200,000 | ||||||
Unsecured notes due 2016 with interest at 5.99% | 215,000 | 215,000 | 215,000 | |||||||||
Unsecured senior notes due 2017 with interest at 6.08% | 60,000 | 60,000 | 60,000 | |||||||||
Unsecured senior notes due 2015-2018 with interest at 7.20% | 32,572 | 40,714 | 40,714 | |||||||||
Unsecured $20 million Canadian revolving credit facility | 6,292 | — | 4,364 | |||||||||
Capital lease obligations payable through 2036 | 12,214 | 12,419 | 12,485 | |||||||||
Total debt | 666,078 | 331,065 | 532,563 | |||||||||
Less current portion of debt | (8,430 | ) | (8,418 | ) | (8,414 | ) | ||||||
Long-term debt, less current maturities | $ | 657,648 | $ | 322,647 | $ | 524,149 | ||||||
Income_Taxes_Tables
Income Taxes (Tables) | 9 Months Ended | |||||||||||
Sep. 27, 2014 | ||||||||||||
Income Taxes [Abstract] | ' | |||||||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | ' | |||||||||||
A reconciliation of the statutory federal income tax rate to the effective income tax rate was as follows for the periods presented. | ||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||
September 27, | September 28, | September 27, | September 28, | |||||||||
2014 | 2013 | 2014 | 2013 | |||||||||
Statutory federal rate | 35 | % | 35 | % | 35 | % | 35 | % | ||||
State income taxes, net of federal tax benefit | 2.2 | 1.4 | 2 | 1.4 | ||||||||
Other nondeductible items | 0.4 | 0.2 | 0.4 | 0.2 | ||||||||
Tax exempt interest income | (0.6 | ) | (0.5 | ) | (0.5 | ) | (0.4 | ) | ||||
Rate differential on foreign income | 2.8 | (5.2 | ) | 0.9 | (4.2 | ) | ||||||
Change in unrecognized tax benefits | — | (0.8 | ) | (1.0 | ) | — | ||||||
Other, net | 0.2 | 1.2 | 0.5 | — | ||||||||
Effective income tax rate | 40 | % | 31.3 | % | 37.3 | % | 32 | % |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 9 Months Ended | |||
Sep. 27, 2014 | ||||
Future Minimum Lease Payments [Line Items] | ' | |||
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | ' | |||
The following is a schedule of future minimum rental payments under operating leases at September 27, 2014: | ||||
For the three months ending December 27, 2014 | $ | 5,863 | ||
For the fiscal years ending: | ||||
2015 | 22,493 | |||
2016 | 23,061 | |||
2017 | 22,605 | |||
2018 | 29,073 | |||
Thereafter | 305,012 | |||
Total | $ | 408,107 | ||
Stockholders_Equity_and_Divide1
Stockholders' Equity and Dividend Restrictions (Tables) | 9 Months Ended | |||||||||||
Sep. 27, 2014 | ||||||||||||
Accumulated Other Comprehensive Income [Abstract] | ' | |||||||||||
Treasury Stock Activity [Table Text Block] | ' | |||||||||||
The following table reconciles the Company's treasury stock activity for the periods presented. | ||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||
September 27, | September 28, | September 27, | September 28, | |||||||||
2014 | 2013 | 2014 | 2013 | |||||||||
Balance, beginning of period | — | 13,737 | — | 492,414 | ||||||||
Purchase of treasury stock at cost (1) | — | 17,439 | — | 181,179 | ||||||||
Treasury shares issued on exercise of stock options and share-based payment awards | — | (30,946 | ) | — | (673,363 | ) | ||||||
Balance, end of period | — | 230 | — | 230 | ||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | |||||||||||
The components of accumulated other comprehensive income (loss), net of related taxes, are as follows for the periods ended: | ||||||||||||
September 27, | December 28, | September 28, | ||||||||||
2014 | 2013 | 2013 | ||||||||||
Accumulated net unrealized holding gains on economic development bonds | $ | 9,116 | $ | 4,682 | $ | 5,142 | ||||||
Cumulative foreign currency translation adjustments | (12,342 | ) | (6,406 | ) | (340 | ) | ||||||
Total accumulated other comprehensive income (loss) | $ | (3,226 | ) | $ | (1,724 | ) | $ | 4,802 | ||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 9 Months Ended | |||||||||||
Sep. 27, 2014 | ||||||||||||
Earnings Per Sharee [Abstract] | ' | |||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | |||||||||||
The following table reconciles the weighted average number of shares utilized in the earnings per share calculations for the periods presented. | ||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||
September 27, | September 28, | September 27, | September 28, | |||||||||
2014 | 2013 | 2014 | 2013 | |||||||||
Common shares – basic | 71,068,933 | 70,575,804 | 70,957,321 | 70,412,479 | ||||||||
Effect of incremental dilutive securities: | ||||||||||||
Stock options, nonvested stock units, and employee stock purchase plans | 624,203 | 1,182,097 | 928,151 | 1,305,415 | ||||||||
Common shares – diluted | 71,693,136 | 71,757,901 | 71,885,472 | 71,717,894 | ||||||||
Stock options outstanding and nonvested stock units issued considered anti-dilutive excluded from calculation | 730,139 | 37,582 | 574,234 | 12,527 | ||||||||
Supplemental_Cash_Flow_Informa1
Supplemental Cash Flow Information (Tables) | 9 Months Ended | |||||||
Sep. 27, 2014 | ||||||||
Supplemental Cash Flow Information [Abstract] | ' | |||||||
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | ' | |||||||
The following table sets forth non-cash financing and investing activities and other cash flow information for the nine months ended: | ||||||||
September 27, | September 28, | |||||||
2014 | 2013 | |||||||
Non-cash financing and investing activities: | ||||||||
Accrued property and equipment additions (1) | $ | 52,917 | $ | 49,007 | ||||
Depreciation adjustment reducing deferred grant income | (831 | ) | — | |||||
Other cash flow information: | ||||||||
Interest paid (2) | $ | 62,790 | $ | 58,778 | ||||
Capitalized interest | (6,047 | ) | (2,942 | ) | ||||
Interest paid, net of capitalized interest | $ | 56,743 | $ | 55,836 | ||||
Income taxes paid, net of refunds | $ | 106,672 | $ | 52,532 | ||||
-1 | Accrued property and equipment additions are recognized in the condensed consolidated statements of cash flows in the period they are paid. | |||||||
-2 | Includes interest from the Financial Services segment totaling $47,910 and $45,987, respectively. |
Segment_Reporting_Tables
Segment Reporting (Tables) | 9 Months Ended | |||||||||||||||||||
Sep. 27, 2014 | ||||||||||||||||||||
Financial Information by Segment [Abstract] | ' | |||||||||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ' | |||||||||||||||||||
Financial information by segment is presented in the following tables for the periods presented: | ||||||||||||||||||||
Corporate Overhead and Other | ||||||||||||||||||||
Financial Services | ||||||||||||||||||||
Retail | Direct | Total | ||||||||||||||||||
Three Months Ended September 27, 2014: | ||||||||||||||||||||
Merchandise sales | $ | 598,103 | $ | 175,335 | $ | — | $ | — | $ | 773,438 | ||||||||||
Non-merchandise revenue: | ||||||||||||||||||||
Financial Services | — | — | 104,236 | — | 104,236 | |||||||||||||||
Other | 583 | — | — | 2,849 | 3,432 | |||||||||||||||
Total revenue before intersegment eliminations | 598,686 | 175,335 | 104,236 | 2,849 | 881,106 | |||||||||||||||
Intersegment revenue eliminated in consolidation | — | — | 4,896 | — | 4,896 | |||||||||||||||
Total revenue as reported | $ | 598,686 | $ | 175,335 | $ | 109,132 | $ | 2,849 | $ | 886,002 | ||||||||||
Operating income (loss) | $ | 108,552 | $ | 18,236 | $ | 28,158 | $ | (61,031 | ) | $ | 93,915 | |||||||||
As a percentage of revenue | 18.1 | % | 10.4 | % | 27 | % | N/A | 10.6 | % | |||||||||||
Depreciation and amortization | $ | 17,427 | $ | 1,228 | $ | 391 | $ | 10,257 | $ | 29,303 | ||||||||||
Assets | 1,568,243 | 254,074 | 4,447,850 | 945,297 | 7,215,464 | |||||||||||||||
Property and equipment additions including accrued amounts | 73,545 | 21 | 289 | 28,165 | 102,020 | |||||||||||||||
Three Months Ended September 28, 2013: | ||||||||||||||||||||
Merchandise sales | $ | 550,545 | $ | 198,596 | $ | — | $ | — | $ | 749,141 | ||||||||||
Non-merchandise revenue: | ||||||||||||||||||||
Financial Services | — | — | 98,403 | — | 98,403 | |||||||||||||||
Other | 333 | — | — | 2,951 | 3,284 | |||||||||||||||
Total Revenue | $ | 550,878 | $ | 198,596 | $ | 98,403 | $ | 2,951 | $ | 850,828 | ||||||||||
Operating income (loss) | $ | 103,658 | $ | 29,284 | $ | 29,182 | $ | (85,521 | ) | $ | 76,603 | |||||||||
As a percentage of revenue | 18.8 | % | 14.7 | % | 29.7 | % | N/A | 9 | % | |||||||||||
Depreciation and amortization | $ | 14,094 | $ | 1,874 | $ | 400 | $ | 7,803 | $ | 24,171 | ||||||||||
Assets | 1,274,722 | 177,428 | 4,133,412 | 876,503 | 6,462,065 | |||||||||||||||
Property and equipment additions including accrued amounts | 82,468 | 3 | 253 | 16,995 | 99,719 | |||||||||||||||
Corporate Overhead and Other | ||||||||||||||||||||
Financial Services | ||||||||||||||||||||
Retail | Direct | Total | ||||||||||||||||||
Nine Months Ended September 27, 2014: | ||||||||||||||||||||
Merchandise sales | $ | 1,538,634 | $ | 501,867 | $ | — | $ | — | $ | 2,040,501 | ||||||||||
Non-merchandise revenue: | ||||||||||||||||||||
Financial Services | — | — | 307,402 | — | 307,402 | |||||||||||||||
Other | 1,437 | — | — | 14,014 | 15,451 | |||||||||||||||
Total revenue before intersegment eliminations | 1,540,071 | 501,867 | 307,402 | 14,014 | 2,363,354 | |||||||||||||||
Intersegment revenue eliminated in consolidation | — | — | 9,672 | — | 9,672 | |||||||||||||||
Total revenue as reported | $ | 1,540,071 | $ | 501,867 | $ | 317,074 | $ | 14,014 | $ | 2,373,026 | ||||||||||
Operating income (loss) | $ | 260,656 | $ | 75,429 | $ | 84,847 | $ | (214,173 | ) | $ | 206,759 | |||||||||
As a percentage of revenue | 16.9 | % | 15 | % | 27.6 | % | N/A | 8.7 | % | |||||||||||
Depreciation and amortization | $ | 49,473 | $ | 3,684 | $ | 1,149 | $ | 28,242 | $ | 82,548 | ||||||||||
Assets | 1,568,243 | 254,074 | 4,447,850 | 945,297 | 7,215,464 | |||||||||||||||
Property and equipment additions including accrued amounts | 237,580 | 134 | 1,276 | 78,967 | 317,957 | |||||||||||||||
Nine Months Ended September 28, 2013: | ||||||||||||||||||||
Merchandise sales | $ | 1,520,660 | $ | 603,878 | $ | — | $ | — | $ | 2,124,538 | ||||||||||
Non-merchandise revenue: | ||||||||||||||||||||
Financial Services | — | — | 272,753 | — | 272,753 | |||||||||||||||
Other | 890 | — | — | 11,949 | 12,839 | |||||||||||||||
Total Revenue | $ | 1,521,550 | $ | 603,878 | $ | 272,753 | $ | 11,949 | $ | 2,410,130 | ||||||||||
Operating income (loss) | $ | 279,409 | $ | 104,912 | $ | 79,198 | $ | (240,866 | ) | $ | 222,653 | |||||||||
As a percentage of revenue | 18.4 | % | 17.4 | % | 29 | % | N/A | 9.2 | % | |||||||||||
Depreciation and amortization | $ | 39,921 | $ | 5,635 | $ | 1,158 | $ | 21,353 | $ | 68,067 | ||||||||||
Assets | 1,274,722 | 177,428 | 4,133,412 | 876,503 | 6,462,065 | |||||||||||||||
Property and equipment additions including accrued amounts | 202,245 | 103 | 1,153 | 43,562 | 247,063 | |||||||||||||||
Revenue Components of Financial Services Segment [Table Text Block] | ' | |||||||||||||||||||
periods presented: | ||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||
September 27, | September 28, | September 27, | September 28, | |||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||
Interest and fee income | $ | 103,333 | $ | 87,945 | $ | 292,204 | $ | 250,383 | ||||||||||||
Interest expense | (16,155 | ) | (17,075 | ) | (47,845 | ) | (46,863 | ) | ||||||||||||
Provision for loan losses | (19,088 | ) | (8,404 | ) | (42,116 | ) | (33,030 | ) | ||||||||||||
Net interest income, net of provision for loan losses | 68,090 | 62,466 | 202,243 | 170,490 | ||||||||||||||||
Non-interest income: | ||||||||||||||||||||
Interchange income | 93,817 | 88,963 | 267,756 | 252,290 | ||||||||||||||||
Other non-interest income | 999 | 1,430 | 2,621 | 4,113 | ||||||||||||||||
Total non-interest income | 94,816 | 90,393 | 270,377 | 256,403 | ||||||||||||||||
Less: Customer rewards costs | (53,774 | ) | (54,456 | ) | (155,546 | ) | (154,140 | ) | ||||||||||||
Financial Services revenue | $ | 109,132 | $ | 98,403 | $ | 317,074 | $ | 272,753 | ||||||||||||
Revenue from External Customers by Products and Services [Table Text Block] | ' | |||||||||||||||||||
Three Months Ended: | Retail | Direct | Total | |||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||
Product Category: | ||||||||||||||||||||
Hunting Equipment | 48.6 | % | 51.1 | % | 43.4 | % | 47.6 | % | 47.3 | % | 50.2 | % | ||||||||
General Outdoors | 30.7 | 28.3 | 30.4 | 27.8 | 30.6 | 28.2 | ||||||||||||||
Clothing and Footwear | 20.7 | 20.6 | 26.2 | 24.6 | 22.1 | 21.6 | ||||||||||||||
Total | 100 | % | 100 | % | 100 | % | 100 | % | 100 | % | 100 | % | ||||||||
Nine Months Ended: | Retail | Direct | Total | |||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||
Product Category: | ||||||||||||||||||||
Hunting Equipment | 46.9 | % | 52.1 | % | 38.7 | % | 45.2 | % | 44.8 | % | 50.2 | % | ||||||||
General Outdoors | 33.1 | 29.3 | 35.6 | 30.9 | 33.8 | 29.7 | ||||||||||||||
Clothing and Footwear | 20 | 18.6 | 25.7 | 23.9 | 21.4 | 20.1 | ||||||||||||||
Total | 100 | % | 100 | % | 100 | % | 100 | % | 100 | % | 100 | % |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 9 Months Ended | |||||||||||||||||||||||
Sep. 27, 2014 | ||||||||||||||||||||||||
Fair Value of Level 3 Assets and Liabilities [Abstract] | ' | |||||||||||||||||||||||
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | ' | |||||||||||||||||||||||
September 27, 2014 | December 28, 2013 | September 28, 2013 | ||||||||||||||||||||||
Carrying Value | Estimated Fair Value | Carrying Value | Estimated Fair Value | Carrying Value | Estimated Fair Value | |||||||||||||||||||
Financial Assets: | ||||||||||||||||||||||||
Credit card loans, net | $ | 4,011,187 | $ | 4,011,187 | $ | 3,938,630 | $ | 3,938,630 | $ | 3,567,423 | $ | 3,567,423 | ||||||||||||
Held-to-maturity investment securities | — | — | — | — | 135,000 | 135,003 | ||||||||||||||||||
Financial Liabilities: | ||||||||||||||||||||||||
Time deposits | 830,409 | 828,579 | 1,069,362 | 1,070,831 | 1,147,978 | 1,153,801 | ||||||||||||||||||
Secured long-term obligations of the Trust | 3,047,250 | 2,996,236 | 2,452,250 | 2,405,494 | 2,452,250 | 2,320,576 | ||||||||||||||||||
Long-term debt | 666,078 | 688,282 | 331,065 | 363,848 | 532,563 | 565,280 | ||||||||||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | ' | |||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||
September 27, | September 28, | September 27, | September 28, | |||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Balance, beginning of period | $ | 78,429 | $ | 79,043 | $ | 78,504 | $ | 85,041 | ||||||||||||||||
Total gains or losses: | ||||||||||||||||||||||||
Included in earnings - realized | — | — | — | — | ||||||||||||||||||||
Included in accumulated other comprehensive income (loss) - unrealized | 4,736 | 1,043 | 7,083 | (2,334 | ) | |||||||||||||||||||
Valuation adjustments | — | — | — | — | ||||||||||||||||||||
Purchases, issuances, and settlements: | ||||||||||||||||||||||||
Purchases | — | — | — | — | ||||||||||||||||||||
Issuances | — | — | — | — | ||||||||||||||||||||
Settlements | (824 | ) | (826 | ) | (3,246 | ) | (3,447 | ) | ||||||||||||||||
Total | (824 | ) | (826 | ) | (3,246 | ) | (3,447 | ) | ||||||||||||||||
Balance, end of period | $ | 82,341 | $ | 79,260 | $ | 82,341 | $ | 79,260 | ||||||||||||||||
Management_Representations_Det
Management Representations (Details) (USD $) | Sep. 27, 2014 | Dec. 28, 2013 | Sep. 28, 2013 | Dec. 29, 2012 |
In Thousands, unless otherwise specified | ||||
Cash and Cash Equivalents, at Carrying Value | $365,114 | $199,072 | $409,733 | $288,750 |
Cash and Cash Equivalent at Subsidiary | $303,975 | $94,112 | $334,832 | ' |
Cabelas_Master_Credit_Card_Tru2
Cabela's Master Credit Card Trust (Details) (USD $) | Sep. 27, 2014 | Dec. 28, 2013 | Sep. 28, 2013 |
In Thousands, unless otherwise specified | |||
Consolidated assets: [Abstract] | ' | ' | ' |
Restricted credit card loans, net of allowance of $52,510, $52,820, and $57,030 | $3,983,821 | $3,903,410 | $3,534,814 |
Restricted cash of the Trust | 31,808 | 23,191 | 26,009 |
Total Consolidated Assets of the Trust | 4,015,629 | 3,926,601 | 3,560,823 |
Allowance for loan losses | 52,700 | 53,110 | 57,370 |
Consolidated liabilities: [Abstract] | ' | ' | ' |
Secured variable funding obligations | 0 | 50,000 | 0 |
Secured long-term obligations | 3,047,250 | 2,452,250 | 2,452,250 |
Interest due to third party investors | 2,064 | 1,904 | 2,214 |
Total Consolidated liabilities of the Trust | 3,049,314 | 2,504,154 | 2,454,464 |
Cabela's Master Credit Card Trust [Member] | ' | ' | ' |
Consolidated assets: [Abstract] | ' | ' | ' |
Allowance for loan losses | $52,510 | $52,820 | $57,030 |
Credit_Card_Loans_and_Allowanc2
Credit Card Loans and Allowance For Loan Losses (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, unless otherwise specified | Sep. 27, 2014 | Sep. 28, 2013 | Sep. 27, 2014 | Sep. 28, 2013 | Jun. 28, 2014 | Dec. 28, 2013 | Jun. 29, 2013 | Dec. 29, 2012 |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Provision for loan losses | ' | ' | $42,116 | $33,030 | ' | ' | ' | ' |
Restricted credit card loans of the Trust (restricted for repayment of secured obligations of the Trust) | 4,036,331 | 3,591,844 | 4,036,331 | 3,591,844 | ' | 3,956,230 | ' | ' |
Unrestricted credit card loans | 22,811 | 27,999 | 22,811 | 27,999 | ' | 29,619 | ' | ' |
Credit Card Receivables | 4,059,142 | 3,619,843 | 4,059,142 | 3,619,843 | ' | 3,985,849 | ' | ' |
Allowance for loan losses | -52,700 | -57,370 | -52,700 | -57,370 | ' | -53,110 | ' | ' |
Deferred credit card origination costs | 4,745 | 4,950 | 4,745 | 4,950 | ' | 5,891 | ' | ' |
Loans and Leases Receivable, Net Reported Amount | 4,011,187 | 3,567,423 | 4,011,187 | 3,567,423 | ' | 3,938,630 | ' | ' |
Provision for loan losses | 19,088 | 8,404 | 42,116 | 33,030 | ' | ' | ' | ' |
Charge-offs | -18,010 | -17,477 | -56,630 | -54,426 | ' | ' | ' | ' |
Recoveries | 4,272 | 3,943 | 14,104 | 13,166 | ' | ' | ' | ' |
Net charge-offs | -13,738 | -13,534 | -42,526 | -41,260 | ' | ' | ' | ' |
Balance, end of period | 52,700 | 57,370 | 52,700 | 57,370 | 47,350 | 53,110 | 62,500 | 65,600 |
Loans and Leases Receivable, Consumer, Allowance | 6,990 | 11,500 | 6,990 | 11,500 | ' | 8,450 | ' | ' |
Current | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Credit Card Receivables | 3,978,936 | 3,547,029 | 3,978,936 | 3,547,029 | ' | 3,909,052 | ' | ' |
1 to 29 days past due | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Credit Card Receivables | 53,818 | 48,850 | 53,818 | 48,850 | ' | 51,038 | ' | ' |
30 to 59 days past due | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Credit Card Receivables | 10,765 | 10,090 | 10,765 | 10,090 | ' | 10,179 | ' | ' |
60 or more days past due | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Credit Card Receivables | 15,623 | 13,874 | 15,623 | 13,874 | ' | 15,580 | ' | ' |
Total past due | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Credit Card Receivables | 80,206 | 72,814 | 80,206 | 72,814 | ' | 76,797 | ' | ' |
90 days or more past due and still accruing | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Credit Card Receivables | 8,076 | 6,865 | 8,076 | 6,865 | ' | 8,071 | ' | ' |
Non-accrual | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Credit Card Receivables | 5,144 | 5,672 | 5,144 | 5,672 | ' | 5,381 | ' | ' |
Nonperforming Financing Receivable [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Provision for loan losses | 2,382 | -4,876 | 6,297 | -4,197 | ' | ' | ' | ' |
Charge-offs | -3,409 | -3,636 | -10,976 | -10,532 | ' | ' | ' | ' |
Recoveries | 1,107 | 1,012 | 3,219 | 3,229 | ' | ' | ' | ' |
Net charge-offs | -2,302 | -2,624 | -7,757 | -7,303 | ' | ' | ' | ' |
Balance, end of period | 6,990 | 11,500 | 6,990 | 11,500 | 6,910 | 8,450 | 19,000 | 23,000 |
Performing Financing Receivable [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Provision for loan losses | 16,706 | 13,280 | 35,819 | 37,227 | ' | ' | ' | ' |
Charge-offs | -14,601 | -13,841 | -45,654 | -43,894 | ' | ' | ' | ' |
Recoveries | 3,165 | 2,931 | 10,885 | 9,937 | ' | ' | ' | ' |
Net charge-offs | -11,436 | -10,910 | -34,769 | -33,957 | ' | ' | ' | ' |
Balance, end of period | $45,710 | $45,870 | $45,710 | $45,870 | $40,440 | $44,660 | $43,500 | $42,600 |
Credit_Card_Loans_and_Allowanc3
Credit Card Loans and Allowance For Loan Losses Schedule of Credit Card Balances by FICO score (Details) (USD $) | Sep. 27, 2014 | Dec. 28, 2013 | Sep. 28, 2013 |
In Thousands, unless otherwise specified | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Credit Card Receivables | $4,059,142 | $3,985,849 | $3,619,843 |
Current [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Credit Card Receivables | 3,978,936 | 3,909,052 | 3,547,029 |
Past Due, 29 Days or Less [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Credit Card Receivables | 53,818 | 51,038 | 48,850 |
Past Due, 30-59 Days [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Credit Card Receivables | 10,765 | 10,179 | 10,090 |
Past Due, 60 or More Days [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Credit Card Receivables | 15,623 | 15,580 | 13,874 |
Total Past Due [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Credit Card Receivables | 80,206 | 76,797 | 72,814 |
90 Days or More Past Due and Still Accruing [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Credit Card Receivables | 8,076 | 8,071 | 6,865 |
Non-accrual [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Credit Card Receivables | 5,144 | 5,381 | 5,672 |
FICO Score, 691 and Below [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Credit Card Receivables | 615,734 | 567,362 | 536,211 |
FICO Score, 691 and Below [Member] | Current [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Credit Card Receivables | 572,619 | 527,202 | 498,540 |
FICO Score, 691 and Below [Member] | Past Due, 29 Days or Less [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Credit Card Receivables | 22,487 | 20,702 | 19,899 |
FICO Score, 691 and Below [Member] | Past Due, 30-59 Days [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Credit Card Receivables | 7,663 | 7,013 | 6,807 |
FICO Score, 691 and Below [Member] | Past Due, 60 or More Days [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Credit Card Receivables | 12,965 | 12,445 | 10,965 |
FICO Score, 691 and Below [Member] | Total Past Due [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Credit Card Receivables | 43,115 | 40,160 | 37,671 |
FICO Score, 691 and Below [Member] | 90 Days or More Past Due and Still Accruing [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Credit Card Receivables | 6,879 | 6,637 | 5,624 |
FICO Score, 691 and Below [Member] | Non-accrual [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Credit Card Receivables | 0 | 0 | 0 |
FICO Score, 692-758 [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Credit Card Receivables | 1,367,250 | 1,314,816 | 1,223,162 |
FICO Score, 692-758 [Member] | Current [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Credit Card Receivables | 1,351,772 | 1,299,982 | 1,208,374 |
FICO Score, 692-758 [Member] | Past Due, 29 Days or Less [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Credit Card Receivables | 13,931 | 13,421 | 13,468 |
FICO Score, 692-758 [Member] | Past Due, 30-59 Days [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Credit Card Receivables | 1,369 | 1,229 | 1,117 |
FICO Score, 692-758 [Member] | Past Due, 60 or More Days [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Credit Card Receivables | 178 | 184 | 203 |
FICO Score, 692-758 [Member] | Total Past Due [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Credit Card Receivables | 15,478 | 14,834 | 14,788 |
FICO Score, 692-758 [Member] | 90 Days or More Past Due and Still Accruing [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Credit Card Receivables | 27 | 36 | 18 |
FICO Score, 692-758 [Member] | Non-accrual [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Credit Card Receivables | 0 | 0 | 0 |
FICO Score, 759 and Above [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Credit Card Receivables | 2,038,978 | 2,060,704 | 1,815,531 |
FICO Score, 759 and Above [Member] | Current [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Credit Card Receivables | 2,024,315 | 2,047,424 | 1,803,735 |
FICO Score, 759 and Above [Member] | Past Due, 29 Days or Less [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Credit Card Receivables | 14,156 | 12,953 | 11,487 |
FICO Score, 759 and Above [Member] | Past Due, 30-59 Days [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Credit Card Receivables | 467 | 296 | 290 |
FICO Score, 759 and Above [Member] | Past Due, 60 or More Days [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Credit Card Receivables | 40 | 31 | 19 |
FICO Score, 759 and Above [Member] | Total Past Due [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Credit Card Receivables | 14,663 | 13,280 | 11,796 |
FICO Score, 759 and Above [Member] | 90 Days or More Past Due and Still Accruing [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Credit Card Receivables | 6 | 17 | 1 |
FICO Score, 759 and Above [Member] | Non-accrual [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Credit Card Receivables | 0 | 0 | 0 |
Restructured Credit Card Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Credit Card Receivables | 37,180 | 42,967 | 44,939 |
Restructured Credit Card Loans [Member] | Current [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Credit Card Receivables | 30,230 | 34,444 | 36,380 |
Restructured Credit Card Loans [Member] | Past Due, 29 Days or Less [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Credit Card Receivables | 3,244 | 3,962 | 3,996 |
Restructured Credit Card Loans [Member] | Past Due, 30-59 Days [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Credit Card Receivables | 1,266 | 1,641 | 1,876 |
Restructured Credit Card Loans [Member] | Past Due, 60 or More Days [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Credit Card Receivables | 2,440 | 2,920 | 2,687 |
Restructured Credit Card Loans [Member] | Total Past Due [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Credit Card Receivables | 6,950 | 8,523 | 8,559 |
Restructured Credit Card Loans [Member] | 90 Days or More Past Due and Still Accruing [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Credit Card Receivables | 1,164 | 1,381 | 1,222 |
Restructured Credit Card Loans [Member] | Non-accrual [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Credit Card Receivables | $5,144 | $5,381 | $5,672 |
Securities_Details
Securities (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Sep. 27, 2014 | Sep. 28, 2013 | Sep. 27, 2014 | Sep. 28, 2013 | Dec. 28, 2013 | Jun. 28, 2014 | Jun. 29, 2013 | Dec. 29, 2012 |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Included in earnings - realized | $0 | $0 | $0 | $0 | ' | ' | ' | ' |
Investment Income, Interest | ' | ' | 2,979 | 3,089 | ' | ' | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 67,826 | 71,098 | 67,826 | 71,098 | 71,072 | ' | ' | ' |
Available-for-sale Securities, Debt Maturities, within One Year, Amortized Cost Basis | 1,344 | ' | 1,344 | ' | ' | ' | ' | ' |
Available-for-sale Securities, Debt Maturities, within One Year, Fair Value | 1,895 | ' | 1,895 | ' | ' | ' | ' | ' |
Available-for-sale Securities, Debt Maturities, Year Two, Amortized Cost Basis | 2,132 | ' | 2,132 | ' | ' | ' | ' | ' |
Available-for-sale Securities, Debt Maturities, Year Two, Fair Value | 2,920 | ' | 2,920 | ' | ' | ' | ' | ' |
Available-for-sale Securities, Debt Maturities, Year Three, Amortized Cost Basis | 2,677 | ' | 2,677 | ' | ' | ' | ' | ' |
Available-for-sale Securities, Debt Maturities, Year Three, Fair Value | 3,526 | ' | 3,526 | ' | ' | ' | ' | ' |
Available-for-sale Securities, Debt Maturities, Year Four, Amortized Cost Basis | 2,704 | ' | 2,704 | ' | ' | ' | ' | ' |
Available-for-sale Securities, Debt Maturities, Year Four, Fair Value | 3,404 | ' | 3,404 | ' | ' | ' | ' | ' |
Available-for-sale Securities, Debt Maturities, Year Five, Amortized Cost Basis | 3,324 | ' | 3,324 | ' | ' | ' | ' | ' |
Available-for-sale Securities, Debt Maturities, Year Five, Fair Value | 4,121 | ' | 4,121 | ' | ' | ' | ' | ' |
Available-for-sale Securities, Debt Maturities, after Five Through Ten Years, Amortized Cost Basis | 23,048 | ' | 23,048 | ' | ' | ' | ' | ' |
Available-for-sale Securities, Debt Maturities, after Five Through Ten Years, Fair Value | 28,241 | ' | 28,241 | ' | ' | ' | ' | ' |
Available-for-sale Securities, Debt Maturities, after Ten Years, Amortized Cost Basis | 32,597 | ' | 32,597 | ' | ' | ' | ' | ' |
Available-for-sale Securities, Debt Maturities, after Ten Years, Fair Value | 38,234 | ' | 38,234 | ' | ' | ' | ' | ' |
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis | 67,826 | ' | 67,826 | ' | ' | ' | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | 82,341 | 79,260 | 82,341 | 79,260 | 78,504 | 78,429 | 79,043 | 85,041 |
Held-to-maturity Securities, Current | 0 | 135,000 | 0 | 135,000 | 0 | ' | ' | ' |
Held-to-maturity Securities, Unrecognized Holding Gain | ' | ' | ' | 3 | ' | ' | ' | ' |
Held-to-maturity Securities, Unrecognized Holding Loss | ' | ' | ' | 0 | ' | ' | ' | ' |
Available-for-sale Securities, Gross Unrealized Gains | ' | ' | 14,515 | 8,199 | 7,432 | ' | ' | ' |
Available-for-sale Securities, Gross Unrealized Losses | ' | ' | 0 | -37 | 0 | ' | ' | ' |
Held-to-maturity Securities, Fair Value | $0 | $135,003 | $0 | $135,003 | $0 | ' | ' | ' |
Borrowings_of_Financial_Servic2
Borrowings of Financial Services Segment (Details) (USD $) | Sep. 27, 2014 | Dec. 28, 2013 | Sep. 28, 2013 | Sep. 27, 2014 | Sep. 28, 2013 | Sep. 28, 2013 | Dec. 28, 2013 | Sep. 27, 2014 | Sep. 28, 2013 | Dec. 28, 2013 | Sep. 27, 2014 | Sep. 28, 2013 | Dec. 28, 2013 | Sep. 27, 2014 | Sep. 28, 2013 | Dec. 28, 2013 | Sep. 27, 2014 | Sep. 28, 2013 | Dec. 28, 2013 | Sep. 27, 2014 | Sep. 27, 2014 | Sep. 27, 2014 | Sep. 27, 2014 | Sep. 28, 2013 | Sep. 27, 2014 | Dec. 28, 2013 | Sep. 28, 2013 | Dec. 28, 2013 | Sep. 27, 2014 | Sep. 28, 2013 | Dec. 28, 2013 | Sep. 27, 2014 | Sep. 28, 2013 | Dec. 28, 2013 | Sep. 27, 2014 | Sep. 27, 2014 | Sep. 27, 2014 | Sep. 27, 2014 | Sep. 27, 2014 | Sep. 27, 2014 | Dec. 28, 2013 | Sep. 28, 2013 | Sep. 27, 2014 | Dec. 28, 2013 | Sep. 28, 2013 | Sep. 27, 2014 | Dec. 28, 2013 | Sep. 28, 2013 | Sep. 27, 2014 | Dec. 28, 2013 | Sep. 28, 2013 | Sep. 27, 2014 | Dec. 28, 2013 | Sep. 28, 2013 | Sep. 27, 2014 | Dec. 28, 2013 | Sep. 28, 2013 | Sep. 27, 2014 | Dec. 28, 2013 | Sep. 28, 2013 | Sep. 27, 2014 | Dec. 28, 2013 | Sep. 28, 2013 | Sep. 27, 2014 | Dec. 28, 2013 | Sep. 28, 2013 | Sep. 27, 2014 | Sep. 27, 2014 | Sep. 27, 2014 | Dec. 28, 2013 | Sep. 28, 2013 | Sep. 27, 2014 | Dec. 28, 2013 | Sep. 28, 2013 | Sep. 27, 2014 | Dec. 28, 2013 | Sep. 28, 2013 | Sep. 27, 2014 | Dec. 28, 2013 | Sep. 28, 2013 | Sep. 27, 2014 | Dec. 28, 2013 | Sep. 28, 2013 | Sep. 27, 2014 | Dec. 28, 2013 | Sep. 28, 2013 | Sep. 27, 2014 | Dec. 28, 2013 | Sep. 28, 2013 | Sep. 27, 2014 | Dec. 28, 2013 | Sep. 28, 2013 | Sep. 27, 2014 | Dec. 28, 2013 | Sep. 28, 2013 | Sep. 27, 2014 | Sep. 27, 2014 | Sep. 27, 2014 | Dec. 28, 2013 | Sep. 28, 2013 | Sep. 27, 2014 | Sep. 27, 2014 |
In Thousands, unless otherwise specified | Secured Debt, Variable Funding Facility [Member] | Secured Debt, Variable Funding Facility [Member] | Series 2010-I | Series 2010-I | Series 2010-I | Series 2010-II | Series 2010-II | Series 2010-II | Series 2011-II [Member] | Series 2011-II [Member] | Series 2011-II [Member] | Series 2011-IV [Member] | Series 2011-IV [Member] | Series 2011-IV [Member] | Series 2012-I [Member] | Series 2012-I [Member] | Series 2012-I [Member] | Minimum [Member] | Maximum [Member] | Federal Funds Purchased [Member] | Federal Funds Purchased [Member] | Secured Debt, Variable Funding Facility, March 23, 2012 [Member] | Secured Debt, Variable Funding Facility, March 23, 2012 [Member] | Series 2012-II [Member] | Series 2012-II [Member] | Series 2012-II [Member] | Series 2013-I [Member] | Series 2013-I [Member] | Series 2013-I [Member] | Series 2013-II [Member] | Series 2013-II [Member] | Series 2013-II [Member] | Series 2014-I [Member] | Series 2014-ll [Member] | Note Class A [Member] | Note Class A [Member] | Fixed Rate Obligation [Member] | Fixed Rate Obligation [Member] | Fixed Rate Obligation [Member] | Fixed Rate Obligation [Member] | Fixed Rate Obligation [Member] | Fixed Rate Obligation [Member] | Fixed Rate Obligation [Member] | Fixed Rate Obligation [Member] | Fixed Rate Obligation [Member] | Fixed Rate Obligation [Member] | Fixed Rate Obligation [Member] | Fixed Rate Obligation [Member] | Fixed Rate Obligation [Member] | Fixed Rate Obligation [Member] | Fixed Rate Obligation [Member] | Fixed Rate Obligation [Member] | Fixed Rate Obligation [Member] | Fixed Rate Obligation [Member] | Fixed Rate Obligation [Member] | Fixed Rate Obligation [Member] | Fixed Rate Obligation [Member] | Fixed Rate Obligation [Member] | Fixed Rate Obligation [Member] | Fixed Rate Obligation [Member] | Fixed Rate Obligation [Member] | Fixed Rate Obligation [Member] | Fixed Rate Obligation [Member] | Fixed Rate Obligation [Member] | Fixed Rate Obligation [Member] | Variable Rate Obligations [Member] | Variable Rate Obligations [Member] | Variable Rate Obligations [Member] | Variable Rate Obligations [Member] | Variable Rate Obligations [Member] | Variable Rate Obligations [Member] | Variable Rate Obligations [Member] | Variable Rate Obligations [Member] | Variable Rate Obligations [Member] | Variable Rate Obligations [Member] | Variable Rate Obligations [Member] | Variable Rate Obligations [Member] | Variable Rate Obligations [Member] | Variable Rate Obligations [Member] | Variable Rate Obligations [Member] | Variable Rate Obligations [Member] | Variable Rate Obligations [Member] | Variable Rate Obligations [Member] | Variable Rate Obligations [Member] | Variable Rate Obligations [Member] | Variable Rate Obligations [Member] | Variable Rate Obligations [Member] | Variable Rate Obligations [Member] | Variable Rate Obligations [Member] | Variable Rate Obligations [Member] | Variable Rate Obligations [Member] | Variable Rate Obligations [Member] | Variable Rate Obligations [Member] | Variable Rate Obligations [Member] | Secured Debt [Member] | Secured Debt [Member] | Secured Debt [Member] | Subordinated Debt [Member] | Subordinated Debt [Member] | |||
Series 2014-I [Member] | Series 2014-ll [Member] | Series 2010-I | Series 2010-I | Series 2010-I | Series 2010-II | Series 2010-II | Series 2010-II | Series 2011-II [Member] | Series 2011-II [Member] | Series 2011-II [Member] | Series 2011-IV [Member] | Series 2011-IV [Member] | Series 2011-IV [Member] | Series 2012-I [Member] | Series 2012-I [Member] | Series 2012-I [Member] | Series 2012-II [Member] | Series 2012-II [Member] | Series 2012-II [Member] | Series 2013-I [Member] | Series 2013-I [Member] | Series 2013-I [Member] | Series 2013-II [Member] | Series 2013-II [Member] | Series 2013-II [Member] | Series 2014-I [Member] | Series 2014-ll [Member] | Series 2010-I | Series 2010-I | Series 2010-I | Series 2010-II | Series 2010-II | Series 2010-II | Series 2011-II [Member] | Series 2011-II [Member] | Series 2011-II [Member] | Series 2011-IV [Member] | Series 2011-IV [Member] | Series 2011-IV [Member] | Series 2012-I [Member] | Series 2012-I [Member] | Series 2012-I [Member] | Series 2012-II [Member] | Series 2012-II [Member] | Series 2012-II [Member] | Series 2013-I [Member] | Series 2013-I [Member] | Series 2013-I [Member] | Series 2013-II [Member] | Series 2013-II [Member] | Series 2013-II [Member] | Series 2014-I [Member] | Series 2014-ll [Member] | Series 2014-I [Member] | Series 2014-ll [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Maximum Borrowing Capacity | ' | ' | ' | $1,025,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $85,000 | ' | $500,000 | $350,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $300,000 | $400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Maturity Date | ' | ' | ' | ' | ' | 15-Jan-15 | 15-Jan-15 | ' | 15-Sep-15 | 15-Sep-15 | ' | 15-Jun-16 | 15-Jun-16 | ' | 15-Oct-16 | 15-Oct-16 | ' | 15-Feb-17 | 15-Feb-17 | ' | ' | ' | ' | ' | ' | ' | 15-Jun-17 | 15-Jun-17 | ' | 15-Feb-23 | 15-Feb-23 | ' | 15-Aug-18 | 15-Aug-18 | ' | 15-Mar-17 | 15-Sep-19 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total debt | 666,078 | 331,065 | 532,563 | ' | ' | 255,000 | 255,000 | 255,000 | 212,500 | 212,500 | 212,500 | 255,000 | 255,000 | 255,000 | 255,000 | 255,000 | 255,000 | 425,000 | 425,000 | 425,000 | ' | ' | ' | ' | ' | ' | 425,000 | 425,000 | 425,000 | 327,250 | 327,250 | 327,250 | 297,500 | 297,500 | 297,500 | 255,000 | 340,000 | ' | ' | 1,449,750 | 1,449,750 | 1,449,750 | 0 | 0 | 0 | 127,500 | 127,500 | 127,500 | 155,000 | 155,000 | 155,000 | 165,000 | 165,000 | 165,000 | 275,000 | 275,000 | 275,000 | 300,000 | 300,000 | 300,000 | 327,250 | 327,250 | 327,250 | 100,000 | 100,000 | 100,000 | 0 | 0 | 1,597,500 | 1,002,500 | 1,002,500 | 255,000 | 255,000 | 255,000 | 85,000 | 85,000 | 85,000 | 100,000 | 100,000 | 100,000 | 90,000 | 90,000 | 90,000 | 150,000 | 150,000 | 150,000 | 125,000 | 125,000 | 125,000 | 0 | 0 | 0 | 197,500 | 197,500 | 197,500 | 255,000 | 340,000 | 3,047,250 | 2,452,250 | 2,452,250 | ' | ' |
Long-term Debt, Weighted Average Interest Rate | ' | ' | ' | ' | ' | 1.63% | 1.62% | 1.60% | 1.73% | 1.72% | 1.72% | 1.76% | 1.75% | 1.75% | 1.49% | 1.48% | 1.48% | 1.31% | 1.30% | 1.30% | ' | ' | ' | ' | ' | ' | 1.22% | 1.21% | 1.21% | 2.71% | 2.71% | 2.71% | 1.31% | 1.27% | 1.26% | 0.50% | 0.60% | ' | ' | ' | ' | ' | 0.00% | 0.00% | 0.00% | 2.29% | 2.29% | 2.29% | 2.39% | 2.39% | 2.39% | 1.90% | 1.90% | 1.90% | 1.63% | 1.63% | 1.63% | 1.45% | 1.45% | 1.45% | 2.71% | 2.71% | 2.71% | 2.17% | 2.17% | 2.17% | 0.00% | 0.00% | ' | ' | ' | 1.60% | 1.62% | 1.63% | 0.85% | 0.87% | 0.88% | 0.75% | 0.77% | 0.78% | 0.70% | 0.72% | 0.73% | 0.68% | 0.70% | 0.71% | 0.63% | 0.65% | 0.66% | 0.00% | 0.00% | 0.00% | 0.80% | 0.82% | 0.88% | 0.50% | 0.60% | ' | ' | ' | ' | ' |
Less current portion of debt | 467,500 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -127,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 340,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 467,500 | ' | ' | ' | ' |
Long-term debt, less current maturities | 657,648 | 322,647 | 524,149 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,322,250 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,257,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,579,750 | ' | ' | ' | ' |
Long-term Debt and Capital Lease Obligations | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Basis Spread on Variable Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.50% | 0.85% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.25% | 0.40% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short-term Debt, Average Outstanding Amount | ' | ' | ' | 2,198 | 33,443 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 305 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt, Weighted Average Interest Rate | ' | ' | ' | 0.75% | 0.78% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notes Issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $255,000 | $340,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $45,000 | $60,000 |
LongTerm_Debt_and_Capital_Leas2
Long-Term Debt and Capital Leases (Details) | 9 Months Ended | ||||||||
In Thousands, unless otherwise specified | Sep. 27, 2014 | Sep. 28, 2013 | Dec. 28, 2013 | Sep. 27, 2014 | Sep. 27, 2014 | Dec. 28, 2013 | Sep. 28, 2013 | Sep. 27, 2014 | Sep. 28, 2013 |
USD ($) | USD ($) | USD ($) | Unsecured $20 million Canadian revolving credit facility | Unsecured $20 million Canadian revolving credit facility | Unsecured $20 million Canadian revolving credit facility | Unsecured $20 million Canadian revolving credit facility | Financial Standby Letter of Credit [Member] | Financial Standby Letter of Credit [Member] | |
USD ($) | CAD | USD ($) | USD ($) | USD ($) | USD ($) | ||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | $775,000 | ' | $415,000 | $20,000 | ' | ' | ' | ' | ' |
Unsecured revolving credit facility | 340,000 | 200,000 | 2,932 | 6,292 | ' | 0 | 4,364 | ' | ' |
Unsecured notes due 2016 with interest at 5.99% | 215,000 | 215,000 | 215,000 | ' | ' | ' | ' | ' | ' |
Unsecured senior notes due 2017 with interest at 6.08% | 60,000 | 60,000 | 60,000 | ' | ' | ' | ' | ' | ' |
Unsecured senior notes due 2015-2018 with interest at 7.20% | 32,572 | 40,714 | 40,714 | ' | ' | ' | ' | ' | ' |
Capital lease obligations payable through 2036 | 12,214 | 12,485 | 12,419 | ' | ' | ' | ' | ' | ' |
Total debt | 666,078 | 532,563 | 331,065 | ' | ' | ' | ' | ' | ' |
Less current portion of debt | 8,430 | 8,414 | 8,418 | ' | ' | ' | ' | ' | ' |
Long-term debt, less current maturities | 657,648 | 524,149 | 322,647 | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Capacity Available for Specific Purpose Other than for Trade Purchases | 75,000 | ' | 100,000 | ' | 10,000 | ' | ' | ' | ' |
Line of Credit Facility, Capacity Available for Trade Purchases | 30,000 | ' | 20,000 | ' | ' | ' | ' | ' | ' |
Amount that Line of Credit Facility may be Increased to | 800,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Average Outstanding Amount | 47,929 | 65,030 | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Interest Rate During Period | 1.47% | 1.46% | ' | ' | ' | ' | ' | ' | ' |
Letters of Credit Outstanding, Amount | ' | ' | ' | ' | ' | ' | ' | 32,290 | 27,753 |
Letter of Credit, Average Outstanding Amount | $23,287 | $22,277 | ' | ' | ' | ' | ' | ' | ' |
Impairment_and_Restructuring_C
Impairment and Restructuring Charges (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||
In Thousands, unless otherwise specified | Sep. 27, 2014 | Jun. 28, 2014 | Sep. 28, 2013 | Jun. 29, 2013 | Sep. 27, 2014 | Sep. 28, 2013 |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' |
Impairment of Long-Lived Assets Held-for-use | $0 | ' | $0 | ' | $0 | $937 |
Restructuring and Related Cost, Incurred Cost | 0 | 641 | 0 | 937 | 641 | 937 |
Severance Costs | 0 | ' | 0 | ' | 641 | 0 |
Other Segments [Member] | ' | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' |
Impairment of Long-Lived Assets Held-for-use | ' | ' | ' | ' | ' | 117 |
451110 Sporting Goods Stores [Member] | ' | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' |
Impairment of Long-Lived Assets Held-for-use | ' | ' | ' | ' | ' | $820 |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 27, 2014 | Sep. 28, 2013 | Sep. 27, 2014 | Sep. 28, 2013 | Dec. 28, 2013 |
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount | ' | ' | $3,872 | ' | ' |
Unrecognized Tax Benefits | 79,490 | 42,215 | 79,490 | 42,215 | 64,800 |
Statutory federal rate | 35.00% | 35.00% | 35.00% | 35.00% | ' |
State income taxes, net of federal tax benefit | 2.20% | 1.40% | 2.00% | 1.40% | ' |
Other nondeductible items | 0.40% | 0.20% | 0.40% | 0.20% | ' |
Tax exempt interest income | -0.60% | -0.50% | -0.50% | -0.40% | ' |
Rate differential on foreign income | 2.80% | -5.20% | 0.90% | -4.20% | ' |
Change in unrecognized tax benefits | 0.00% | -0.80% | -1.00% | 0.00% | ' |
Other, net | 0.20% | 1.20% | 0.50% | 0.00% | ' |
Effective Income Tax Rate, Continuing Operations | 40.00% | 31.30% | 37.30% | 32.00% | ' |
Income Tax Deposit on Prior Period Uncertain Tax Positions | 103,418 | ' | 103,418 | ' | ' |
Cash and Cash Equivalent Held by Foreign Subsidiary | 19,770 | ' | 19,770 | ' | ' |
Paid in prior periods [Member] | ' | ' | ' | ' | ' |
Income Tax Deposit on Prior Period Uncertain Tax Positions | 53,418 | ' | 53,418 | ' | ' |
Paid in current period [Member] | ' | ' | ' | ' | ' |
Income Tax Deposit on Prior Period Uncertain Tax Positions | $50,000 | ' | $50,000 | ' | ' |
Commitments_and_Contingencies_1
Commitments and Contingencies (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||
In Thousands, unless otherwise specified | Sep. 27, 2014 | Jun. 28, 2014 | Sep. 28, 2013 | Sep. 27, 2014 | Sep. 28, 2013 | Dec. 28, 2013 |
Operating Leases, Future Minimum Payments Due, Next Twelve Months | $5,863 | ' | ' | $5,863 | ' | ' |
Payments for (Proceeds from) Tenant Allowance | ' | ' | ' | 7,243 | 4,950 | ' |
Operating Leases, Rent Expense | 6,146 | ' | 3,955 | 14,050 | 10,843 | ' |
Purchase Commitment, Remaining Minimum Amount Committed | 609,500 | ' | ' | 609,500 | ' | ' |
Grant Funding Subject to Contractual Remedies | 44,231 | ' | ' | 44,231 | ' | ' |
Grant Funding Received | ' | ' | ' | 0 | ' | ' |
Grant Funding Subject to Contractual Remedies, Liability Recorded | 22,650 | ' | 6,673 | 22,650 | 6,673 | 22,536 |
Operating Leases, Future Minimum Payments, Due in Two Years | 22,493 | ' | ' | 22,493 | ' | ' |
Operating Leases, Future Minimum Payments, Due in Three Years | 23,061 | ' | ' | 23,061 | ' | ' |
Operating Leases, Future Minimum Payments, Due in Four Years | 22,605 | ' | ' | 22,605 | ' | ' |
Operating Leases, Future Minimum Payments, Due in Five Years | 29,073 | ' | ' | 29,073 | ' | ' |
Operating Leases, Future Minimum Payments, Due Thereafter | 305,012 | ' | ' | 305,012 | ' | ' |
Operating Leases, Future Minimum Payments Due | 408,107 | ' | ' | 408,107 | ' | ' |
Committments to Extend Credit | 29,360,000 | ' | 25,093,000 | 29,360,000 | 25,093,000 | 25,255,000 |
Loss Contingency Accrual, Payments | ' | 951 | ' | ' | ' | ' |
Loss Contingency, Estimate of Possible Loss | 0 | ' | 8,300 | 0 | 8,300 | 4,687 |
Payment Guarantee [Member] | ' | ' | ' | ' | ' | ' |
Letters of Credit Outstanding, Amount | $63,352 | ' | $60,579 | $63,352 | $60,579 | $48,409 |
StockBased_Compensation_Plans_1
Stock-Based Compensation Plans and Employee Benefit Plans (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 27, 2014 | Sep. 28, 2013 | Sep. 27, 2014 | Sep. 28, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Share-based Compensation | $4,484 | $3,837 | $13,049 | $11,150 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | 29,663 | ' | 29,663 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | ' | ' | '2 years 9 months 14 days | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 3,334,274 | ' | 3,334,274 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | ' | ' | 280,951 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | ' | ' | $18,435 | $17,854 |
Closing Stock Price of one share of Cabela's Stock | $58.49 | ' | $58.49 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 1,921,295 | ' | 1,921,295 | ' |
Cabela's Incorporated 2004 Stock Plan [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 2,734,674 | ' | 2,734,674 | ' |
Cabela's Incorporated 2013 Stock Plan [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 665,726 | ' | 665,726 | ' |
Stock Issued During Period, Shares, Employee Stock Purchase Plans | ' | ' | 52,830 | ' |
Employee Stock Option [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | ' | ' | 194,905 | ' |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | ' | ' | $66.32 | ' |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | ' | ' | 291,705 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | ' | ' | $66.28 | ' |
Employee Stock [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 1,917,355 | ' | 1,917,355 | ' |
Management [Member] | Restricted Stock Units (RSUs) [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | ' | ' | 51,050 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | ' | ' | $66.32 | ' |
Chief Executive Officer [Member] | Employee Stock Option [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | ' | ' | 64,000 | ' |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | ' | ' | $76.27 | ' |
Director [Member] | Employee Stock Option [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | ' | ' | 40,000 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | ' | ' | $61.53 | ' |
Director [Member] | Restricted Stock Units (RSUs) [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | ' | ' | 409 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | ' | ' | $61.23 | ' |
Stockholders_Equity_and_Divide2
Stockholders' Equity and Dividend Restrictions (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||
Sep. 27, 2014 | Sep. 28, 2013 | Sep. 27, 2014 | Sep. 28, 2013 | Feb. 13, 2014 | Dec. 28, 2013 | |
Cash Dividends Paid to Parent Company by Consolidated Subsidiaries | ' | ' | $40,000,000 | ' | ' | ' |
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments | 229,377,000 | ' | 229,377,000 | ' | ' | ' |
Balance, beginning of period | 0 | 13,737 | 0 | 492,414 | ' | ' |
Purchase of treasury stock at cost (1) | 0 | 17,439 | 0 | 181,179 | ' | ' |
Stock Issued During Period, Shares, Treasury Stock Reissued | 0 | -30,946 | ' | -673,363 | ' | ' |
Balance, end of period | 0 | 230 | 0 | 230 | ' | ' |
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | ' | ' | ' | ' | 650,000 | ' |
Cumulative foreign currency translation adjustments | -12,342,000 | -340,000 | -12,342,000 | -340,000 | ' | -6,406,000 |
Accumulated other comprehensive income (loss) | -3,226,000 | 4,802,000 | -3,226,000 | 4,802,000 | ' | -1,724,000 |
Stock Issued During Period, Value, Treasury Stock Reissued | ' | ' | 0 | ' | ' | ' |
Available-for-sale Securities [Member] | ' | ' | ' | ' | ' | ' |
Accumulated net unrealized holding gains on economic development bonds | $9,116,000 | $5,142,000 | $9,116,000 | $5,142,000 | ' | $4,682,000 |
Earnings_Per_Share_Details
Earnings Per Share (Details) | 3 Months Ended | 9 Months Ended | ||
Sep. 27, 2014 | Sep. 28, 2013 | Sep. 27, 2014 | Sep. 28, 2013 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Basic weighted average shares outstanding | 71,068,933 | 70,575,804 | 70,957,321 | 70,412,479 |
Stock options, nonvested stock units, and employee stock purchase plans | 624,203 | 1,182,097 | 928,151 | 1,305,415 |
Diluted weighted average shares outstanding | 71,693,136 | 71,757,901 | 71,885,472 | 71,717,894 |
Stock options outstanding and nonvested stock units issued considered anti-dilutive excluded from calculation | 730,139 | 37,582 | 574,234 | 12,527 |
Supplemental_Cash_Flow_Informa2
Supplemental Cash Flow Information (Details) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 27, 2014 | Sep. 28, 2013 |
Supplemental Cash Flow Information [Abstract] | ' | ' |
Interest Paid By Subsidiary | $47,910 | $45,987 |
Accrued property and equipment additions (1) | 52,917 | 49,007 |
Other than Temporary Impairment Losses, Investments, Available-for-sale Securities | -831 | 0 |
Interest Paid | 62,790 | 58,778 |
Interest Paid, Capitalized | 6,047 | 2,942 |
Interest paid (2) | 56,743 | 55,836 |
Income taxes paid, net of refunds | $106,672 | $52,532 |
Segment_Reporting_Details
Segment Reporting (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 27, 2014 | Sep. 28, 2013 | Sep. 27, 2014 | Sep. 28, 2013 | Dec. 28, 2013 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Merchandise Revenue Percentage | 100.00% | 100.00% | 100.00% | 100.00% | ' |
Interest and Fee Income, Loans, Consumer | $103,333 | $87,945 | $292,204 | $250,383 | ' |
Goodwill | 3,157 | 3,406 | 3,157 | 3,406 | 3,295 |
Merchandise sales | 773,438 | 749,141 | 2,040,501 | 2,124,538 | ' |
Financial Services Revenue | 109,132 | 98,403 | 317,074 | 272,753 | ' |
Financial Services Revenue Before Intersegment Eliminations | 104,236 | ' | 307,402 | ' | ' |
Other revenue | 3,432 | 3,284 | 15,451 | 12,839 | ' |
Total revenues | 886,002 | 850,828 | 2,373,026 | 2,410,130 | ' |
Total Revenue Before Intersegment Eliminations | 881,106 | ' | 2,363,354 | ' | ' |
Intersegment Revenue Eliminated In Consolidation | 4,896 | ' | 9,672 | ' | ' |
Operating Income (Loss) | 93,915 | 76,603 | 206,759 | 222,653 | ' |
Operating Income as a Percentage of Revenue | 10.60% | 9.00% | 8.70% | 9.20% | ' |
Depreciation, Depletion and Amortization | 29,303 | 24,171 | 82,548 | 68,067 | ' |
Assets | 7,215,464 | 6,462,065 | 7,215,464 | 6,462,065 | 6,396,864 |
Property, Plant and Equipment, Additions | 102,020 | 99,719 | 317,957 | 247,063 | ' |
Cash and Cash Equivalent at Subsidiary | 303,975 | 334,832 | 303,975 | 334,832 | 94,112 |
Interest Expense, Other | -16,155 | -17,075 | -47,845 | -46,863 | ' |
Provision for Other Credit Losses | -19,088 | -8,404 | -42,116 | -33,030 | ' |
Interest Income (Expense), after Provision for Loan Loss | 68,090 | 62,466 | 202,243 | 170,490 | ' |
Interchange income | 93,817 | 88,963 | 267,756 | 252,290 | ' |
Noninterest Income, Other Operating Income | 999 | 1,430 | 2,621 | 4,113 | ' |
Noninterest Income | 94,816 | 90,393 | 270,377 | 256,403 | ' |
Customer rewards costs | -53,774 | -54,456 | -155,546 | -154,140 | ' |
Intercompany License Fee Paid, Total | ' | ' | 10,945 | ' | ' |
Intercompany License Fee Paid, Paid To The Retail Segment | ' | ' | 6,676 | ' | ' |
Intercompany License Fee Paid, Paid To The Direct Segment | ' | ' | 4,269 | ' | ' |
Retail Sales [Domain] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Merchandise Revenue Percentage | 100.00% | 100.00% | 100.00% | 100.00% | ' |
Direct Sales [Domain] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Merchandise Revenue Percentage | 100.00% | 100.00% | 100.00% | 100.00% | ' |
451110 Sporting Goods Stores [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Merchandise sales | 598,103 | 550,545 | 1,538,634 | 1,520,660 | ' |
Financial Services Revenue | 0 | 0 | 0 | 0 | ' |
Other revenue | 583 | 333 | 1,437 | 890 | ' |
Total revenues | 598,686 | 550,878 | 1,540,071 | 1,521,550 | ' |
Operating Income (Loss) | 108,552 | 103,658 | 260,656 | 279,409 | ' |
Operating Income as a Percentage of Revenue | 18.10% | 18.80% | 16.90% | 18.40% | ' |
Depreciation, Depletion and Amortization | 17,427 | 14,094 | 49,473 | 39,921 | ' |
Assets | 1,568,243 | 1,274,722 | 1,568,243 | 1,274,722 | ' |
Property, Plant and Equipment, Additions | 73,545 | 82,468 | 237,580 | 202,245 | ' |
454390 Other Direct Selling Establishments [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Merchandise sales | 175,335 | 198,596 | 501,867 | 603,878 | ' |
Financial Services Revenue | 0 | 0 | 0 | 0 | ' |
Other revenue | 0 | 0 | 0 | 0 | ' |
Total revenues | 175,335 | 198,596 | 501,867 | 603,878 | ' |
Operating Income (Loss) | 18,236 | 29,284 | 75,429 | 104,912 | ' |
Operating Income as a Percentage of Revenue | 10.40% | 14.70% | 15.00% | 17.40% | ' |
Depreciation, Depletion and Amortization | 1,228 | 1,874 | 3,684 | 5,635 | ' |
Assets | 254,074 | 177,428 | 254,074 | 177,428 | ' |
Property, Plant and Equipment, Additions | 21 | 3 | 134 | 103 | ' |
551111 Offices of Bank Holding Companies [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Merchandise sales | 0 | 0 | 0 | 0 | ' |
Financial Services Revenue | ' | 98,403 | ' | 272,753 | ' |
Financial Services Revenue Before Intersegment Eliminations | 104,236 | ' | 307,402 | ' | ' |
Other revenue | 0 | 0 | 0 | 0 | ' |
Total revenues | 109,132 | 98,403 | 317,074 | 272,753 | ' |
Total Revenue Before Intersegment Eliminations | 104,236 | ' | 307,402 | ' | ' |
Intersegment Revenue Eliminated In Consolidation | 4,896 | ' | 9,672 | ' | ' |
Operating Income (Loss) | 28,158 | 29,182 | 84,847 | 79,198 | ' |
Operating Income as a Percentage of Revenue | 27.00% | 29.70% | 27.60% | 29.00% | ' |
Depreciation, Depletion and Amortization | 391 | 400 | 1,149 | 1,158 | ' |
Assets | 4,447,850 | 4,133,412 | 4,447,850 | 4,133,412 | ' |
Property, Plant and Equipment, Additions | 289 | 253 | 1,276 | 1,153 | ' |
All Other Segments [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Merchandise sales | 0 | 0 | 0 | 0 | ' |
Financial Services Revenue | 0 | 0 | 0 | 0 | ' |
Other revenue | 2,849 | 2,951 | 14,014 | 11,949 | ' |
Total revenues | 2,849 | 2,951 | 14,014 | 11,949 | ' |
Operating Income (Loss) | -61,031 | -85,521 | -214,173 | -240,866 | ' |
Depreciation, Depletion and Amortization | 10,257 | 7,803 | 28,242 | 21,353 | ' |
Assets | 945,297 | 876,503 | 945,297 | 876,503 | ' |
Property, Plant and Equipment, Additions | $28,165 | $16,995 | $78,967 | $43,562 | ' |
Hunting Equipment [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Merchandise Revenue Percentage | 47.30% | 50.20% | 44.80% | 50.20% | ' |
Hunting Equipment [Member] | Retail Sales [Domain] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Merchandise Revenue Percentage | 48.60% | 51.10% | 46.90% | 52.10% | ' |
Hunting Equipment [Member] | Direct Sales [Domain] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Merchandise Revenue Percentage | 43.40% | 47.60% | 38.70% | 45.20% | ' |
General Outdoor [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Merchandise Revenue Percentage | 30.60% | 28.20% | 33.80% | 29.70% | ' |
General Outdoor [Member] | Retail Sales [Domain] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Merchandise Revenue Percentage | 30.70% | 28.30% | 33.10% | 29.30% | ' |
General Outdoor [Member] | Direct Sales [Domain] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Merchandise Revenue Percentage | 30.40% | 27.80% | 35.60% | 30.90% | ' |
Clothing and Footwear [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Merchandise Revenue Percentage | 22.10% | 21.60% | 21.40% | 20.10% | ' |
Clothing and Footwear [Member] | Retail Sales [Domain] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Merchandise Revenue Percentage | 20.70% | 20.60% | 20.00% | 18.60% | ' |
Clothing and Footwear [Member] | Direct Sales [Domain] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Merchandise Revenue Percentage | 26.20% | 24.60% | 25.70% | 23.90% | ' |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Sep. 27, 2014 | Jun. 28, 2014 | Mar. 29, 2014 | Sep. 28, 2013 | Jun. 29, 2013 | Sep. 27, 2014 | Sep. 28, 2013 | Dec. 28, 2013 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred Grant Income Reduction | ' | ' | ' | ' | ' | $0 | ' | ' |
Credit card loans (includes restricted credit card loans of the Trust of $4,036,331, $3,956,230, and $3,591,844), net of allowance for loan losses of $52,700, $53,110, and $57,370 | 4,011,187 | ' | ' | 3,567,423 | ' | 4,011,187 | 3,567,423 | 3,938,630 |
Held-to-maturity Securities, Current | 0 | ' | ' | 135,000 | ' | 0 | 135,000 | 0 |
Held-to-maturity Securities, Fair Value | 0 | ' | ' | 135,003 | ' | 0 | 135,003 | 0 |
Loans Receivable, Fair Value Disclosure | 4,011,187 | ' | ' | ' | ' | 4,011,187 | ' | 3,938,630 |
Included in earnings - realized | 0 | ' | ' | 0 | ' | 0 | 0 | ' |
Included in accumulated other comprehensive income (loss) - unrealized | 4,736 | ' | ' | 1,043 | ' | 7,083 | -2,334 | ' |
Valuation adjustments | 0 | ' | ' | 0 | ' | 0 | 0 | ' |
Purchases | 0 | ' | ' | 0 | ' | 0 | 0 | ' |
Issuances | 0 | ' | ' | 0 | ' | 0 | 0 | ' |
Settlements | -824 | ' | ' | -826 | ' | -3,246 | -3,447 | ' |
Time Deposits | 830,409 | ' | ' | 1,147,978 | ' | 830,409 | 1,147,978 | 1,069,362 |
Deposits, Fair Value Disclosure | 828,579 | ' | ' | 1,153,801 | ' | 828,579 | 1,153,801 | 1,070,831 |
Total debt | 666,078 | ' | ' | 532,563 | ' | 666,078 | 532,563 | 331,065 |
Long-term Debt, Fair Value | 688,282 | ' | ' | 565,280 | ' | 688,282 | 565,280 | 363,848 |
Loss Contingency, Damages Awarded, Value | ' | ' | ' | ' | ' | ' | ' | 13,625 |
Estimated Litigation Liability | ' | ' | 15,707 | ' | ' | ' | ' | 14,125 |
Loss Contingency, Damages Sought, Value | ' | ' | 1,062 | ' | ' | ' | ' | ' |
Other than Temporary Impairment Losses, Financial Incentives | ' | ' | 831 | ' | ' | ' | ' | ' |
Restructuring and Related Cost, Incurred Cost | 0 | 641 | ' | 0 | 937 | 641 | 937 | ' |
Secured Debt [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Total debt | 3,047,250 | ' | ' | 2,452,250 | ' | 3,047,250 | 2,452,250 | 2,452,250 |
Debt Instrument, Fair Value Disclosure | 2,996,236 | ' | ' | 2,320,576 | ' | 2,996,236 | 2,320,576 | 2,405,494 |
Long-term Debt [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Total debt | $3,047,250 | ' | ' | ' | ' | $3,047,250 | ' | ' |