Sally Beauty (SBH) 10-Q 5 Feb 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Dec. 31, 2014	Jan. 30, 2015
Document and Entity Information
Entity Registrant Name	Sally Beauty Holdings, Inc.
Entity Central Index Key	1368458
Document Type	10-Q
Document Period End Date	31-Dec-14
Amendment Flag	FALSE
Current Fiscal Year End Date	-21
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		158,343,373
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1

Consolidated_Statements_of_Ear

Consolidated Statements of Earnings (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Consolidated Statements of Earnings
Net sales	$964,468	$940,464
Cost of products sold and distribution expenses	490,699	479,938
Gross profit	473,769	460,526
Selling, general and administrative expenses	336,954	319,478
Depreciation and amortization	20,579	19,255
Operating earnings	116,236	121,793
Interest expense	29,241	28,489
Earnings before provision for income taxes	86,995	93,304
Provision for income taxes	32,086	35,309
Net earnings	$54,909	$57,995
Earnings per share:
Basic (in dollars per share)	$0.35	$0.35
Diluted (in dollars per share)	$0.35	$0.35
Weighted average shares:
Basic (in shares)	156,104	163,603
Diluted (in shares)	158,545	167,755

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Consolidated Statements of Comprehensive Income
Net earnings	$54,909	$57,995
Other comprehensive (loss) income:
Foreign currency translation adjustments	-17,301	2,567
Total other comprehensive (loss) income, before tax	-17,301	2,567
Other comprehensive (loss) income, net of tax	-17,301	2,567
Total comprehensive income	$37,608	$60,562

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Dec. 31, 2014	Sep. 30, 2014
In Thousands, unless otherwise specified
Current assets:
Cash and cash equivalents	$190,681	$106,575
Trade accounts receivable, less allowance for doubtful accounts of $1,983 at December 31, 2014 and $1,752 at September 30, 2014	46,916	51,797
Accounts receivable, other	40,735	46,703
Inventory	837,822	828,429
Other current assets	35,868	38,995
Deferred income tax assets, net	31,746	31,650
Total current assets	1,183,768	1,104,149
Property and equipment, net of accumulated depreciation of $419,466 at December 31, 2014 and $413,208 at September 30, 2014	236,678	238,111
Goodwill	531,412	536,341
Intangible assets, excluding goodwill, net of accumulated amortization of $89,887 at December 31, 2014 and $86,320 at September 30, 2014	109,589	114,744
Other assets	35,587	36,628
Total assets	2,097,034	2,029,973
Current liabilities:
Current maturities of long-term debt	888	974
Accounts payable	264,773	259,463
Accrued liabilities	160,630	198,769
Income taxes payable	3,724	4,331
Total current liabilities	430,015	463,537
Long-term debt	1,810,104	1,810,667
Other liabilities	28,903	27,848
Deferred income tax liabilities, net	83,568	74,974
Total liabilities	2,352,590	2,377,026
Stockholders' deficit:
Common stock, $0.01 par value. Authorized 500,000 shares; 158,324 and 155,104 shares issued and 157,757 and 154,668 shares outstanding at December 31, 2014 and September 30, 2014, respectively	1,578	1,547
Preferred stock, $0.01 par value. Authorized 50,000 shares; none issued
Accumulated deficit	-211,285	-320,052
Accumulated other comprehensive loss, net of tax	-45,849	-28,548
Total stockholders' deficit	-255,556	-347,053
Total liabilities and stockholders' deficit	$2,097,034	$2,029,973

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Dec. 31, 2014	Sep. 30, 2014
In Thousands, except Per Share data, unless otherwise specified
Consolidated Balance Sheets
Trade accounts receivable, allowance for doubtful accounts (in dollars)	$1,983	$1,752
Property and equipment, accumulated depreciation (in dollars)	419,466	413,208
Intangible assets, excluding goodwill, accumulated amortization (in dollars)	$89,887	$86,320
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, Authorized shares	500,000	500,000
Common stock, shares issued	158,324	155,104
Common stock, shares outstanding	157,757	154,668
Preferred stock, par value (in dollars per share)	$0.01	$0.01
Preferred stock, Authorized shares	50,000	50,000
Preferred stock, shares issued	0	0

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Cash Flows from Operating Activities:
Net earnings	$54,909	$57,995
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	20,579	19,255
Share-based compensation expense	7,760	8,522
Amortization of deferred financing costs	950	921
Excess tax benefit from share-based compensation	-17,043	-2,985
Deferred income taxes	8,341	-563
Changes in (exclusive of effects of acquisitions):
Trade accounts receivable	3,944	4,537
Accounts receivable, other	5,532	-754
Inventory	-17,616	-4,984
Other current assets	19,943	2,948
Other assets	-572	-160
Accounts payable and accrued liabilities	-30,363	-57,259
Income taxes payable	-497	29,057
Other liabilities	1,169	3,574
Net cash provided by operating activities	57,036	60,104
Cash Flows from Investing Activities:
Capital expenditures	-18,800	-13,375
Net cash used by investing activities	-18,800	-13,375
Cash Flows from Financing Activities:
Proceeds from issuances of long-term debt		232,719
Repayments of long-term debt	-258	-109,025
Repurchases of common stock	-7,253	-66,183
Debt issuance costs		-3,888
Proceeds from exercises of stock options	37,156	7,319
Excess tax benefit from share-based compensation	17,043	2,985
Net cash provided by financing activities	46,688	63,927
Effect of foreign exchange rate changes on cash and cash equivalents	-818	153
Net increase in cash and cash equivalents	84,106	110,809
Cash and cash equivalents, beginning of period	106,575	47,115
Cash and cash equivalents, end of period	190,681	157,924
Supplemental Cash Flow Information:
Interest paid	56,138	50,807
Income taxes paid	$4,835	$4,119

Description_of_Business_and_Ba

Description of Business and Basis of Presentation	3 Months Ended
	Dec. 31, 2014
Description of Business and Basis of Presentation
Description of Business and Basis of Presentation
	1.   Description of Business and Basis of Presentation
	Description of Business
	Sally Beauty Holdings, Inc. and its consolidated subsidiaries (“Sally Beauty” or “the Company”) sell professional beauty supplies through its Sally Beauty Supply retail stores primarily in the U.S., Puerto Rico, Canada, Mexico, Chile, Peru, the United Kingdom, Ireland, Belgium, France, Germany, the Netherlands and Spain. Additionally, the Company distributes professional beauty products to salons and salon professionals through its Beauty Systems Group (“BSG”) store operations and a commissioned direct sales force that calls on salons primarily in the U.S., Puerto Rico, Canada, the United Kingdom and certain other countries in Europe, and to franchises in the southern and southwestern regions of the U.S., and in Mexico through the operations of its subsidiary Armstrong McCall, L.P. (“Armstrong McCall”). Certain beauty products sold by BSG and Armstrong McCall are sold under exclusive territory agreements with the manufacturers of the products.
	Basis of Presentation
	The accompanying consolidated interim financial statements include the accounts of the Company and its subsidiaries. All significant inter-company accounts and transactions have been eliminated in consolidation. In the opinion of management, these consolidated financial statements reflect all adjustments which are of a normal recurring nature and which are necessary to present fairly the Company’s consolidated financial position as of December 31, 2014 and September 30, 2014, and its consolidated results of operations and consolidated cash flows for the three months ended December 31, 2014 and 2013.
	Certain amounts for prior fiscal periods have been reclassified to conform to the current fiscal period’s presentation.
	All references in these notes to “management” are to the management of Sally Beauty.

Significant_Accounting_Policie

Significant Accounting Policies	3 Months Ended
	Dec. 31, 2014
Significant Accounting Policies
Significant Accounting Policies
	2.   Significant Accounting Policies
	The consolidated interim financial statements included herein are unaudited and have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and note disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. These consolidated interim financial statements should be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2014. The Company adheres to the same accounting policies in the preparation of its interim financial statements. As permitted under GAAP, interim accounting for certain expenses, including income taxes, is based on full year assumptions. Such amounts are expensed in full in the year incurred. For interim financial reporting purposes, income taxes are recorded based upon estimated annual effective income tax rates.
	The results of operations for the interim periods reported upon herein are not necessarily indicative of the results that may be expected for any future interim period or the entire fiscal year.

Recent_Accounting_Pronouncemen

Recent Accounting Pronouncements	3 Months Ended
	Dec. 31, 2014
Recent Accounting Pronouncements
Recent Accounting Pronouncements
	3.   Recent Accounting Pronouncements
	We have not yet adopted and are currently assessing the potential effect of the following pronouncement on our consolidated financial statements:
	In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”) which will supersede Accounting Standards Codification (“ASC”) Topic 605, Revenue Recognition. A core principle of the new guidance is that an entity should measure revenue in connection with its sale of goods and services to a customer based on an amount that depicts the consideration to which the entity expects to be entitled in exchange for each of those goods and services. For a contract that involves more than one performance obligation, the entity must (a) determine or, if necessary, estimate the standalone selling price at inception of the contract for the distinct goods or services underlying each performance obligation and (b) allocate the transaction price to each performance obligation on the basis of the relative standalone selling prices. In addition, under the new guidance, an entity should recognize revenue when (or as) it satisfies each performance obligation under the contract by transferring the promised good or service to the customer. A good or service is deemed transferred when (or as) the customer obtains control of that good or service. The new standard permits the use of either the retrospective or cumulative effect transition method. For public companies, this amendment is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. Early application is not permitted for public companies. The Company has not yet selected a transition method nor determined the effect of the new standard on its financial statements.

Fair_Value_Measurements

Fair Value Measurements	3 Months Ended
	Dec. 31, 2014
Fair Value Measurements
Fair Value Measurements
	4.   Fair Value Measurements
	The Company’s financial instruments consist of cash equivalents, trade and other accounts receivable, accounts payable, foreign currency derivative instruments and debt. The carrying amounts of cash equivalents, trade and other accounts receivable and accounts payable approximate their respective fair values due to the short-term nature of these financial instruments.
	The Company measures on a recurring basis and discloses the fair value of its financial instruments under the provisions of ASC Topic 820, Fair Value Measurement, as amended (“ASC 820”). The Company defines “fair value” as the price that would be received to sell an asset or paid to transfer a liability (i.e., the exit price) in an orderly transaction between market participants at the measurement date. ASC 820 establishes a three-level hierarchy for measuring fair value and requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. This valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability on the measurement date. The three levels of that hierarchy are defined as follows:
	Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities;
	Level 2 - Unadjusted quoted prices in active markets for similar assets or liabilities; or unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active; or inputs other than quoted prices that are observable for the asset or liability; or inputs that are derived principally from or corroborated by observable market data; and
	Level 3 - Unobservable inputs for the asset or liability.
	Consistent with this hierarchy, the Company categorized certain of its financial assets and liabilities as follows at December 31, 2014 and September 30, 2014 (in thousands):
			As of December 31, 2014
			Total		Level 1		Level 2		Level 3
	Assets
	Cash equivalents (a)		$	107,501	$	107,501	$	—	—
	Foreign exchange contracts (b)		1,284		—		1,284		—
	Total assets		$	108,785	$	107,501	$	1,284	—
	Liabilities
	Long-term debt (c)		$	1,893,779	$	1,890,000	$	3,779	—
	Foreign exchange contracts (b)		3		—		3		—
	Total liabilities		$	1,893,782	$	1,890,000	$	3,782	—
			As of September 30, 2014
			Total		Level 1		Level 2		Level 3
	Assets
	Cash equivalents (a)		$	27,000	$	27,000	$	—	—
	Foreign exchange contracts (b)		511		—		511		—
	Total assets		$	27,511	$	27,000	$	511	—
	Liabilities
	Long-term debt (c)		$	1,874,444	$	1,870,250	$	4,194	—
	Foreign exchange contracts (b)		47		—		47		—
	Total liabilities		$	1,874,491	$	1,870,250	$	4,241	—
		(a)		Cash equivalents consist of highly liquid investments which have no maturity and are valued using unadjusted quoted market prices for such securities. The Company may from time to time invest in securities with maturities of three months or less (consisting primarily of investment-grade corporate and government bonds), with the primary investment objective of minimizing the potential risk of loss of principal.
		(b)		Foreign exchange contracts (including foreign currency forwards and options) are valued for purposes of this disclosure using widely accepted valuation techniques, such as discounted cash flow analyses, and reasonable estimates, such as market foreign currency exchange rates. Please see Note 10 for more information about the Company’s foreign exchange contracts.
		(c)		Long-term debt (including current maturities and borrowings under the ABL facility, if any) is carried in the Company’s consolidated financial statements at amortized cost of $1,811.0 million at December 31, 2014 and $1,811.6 million at September 30, 2014. The Company’s senior notes are valued for purposes of this disclosure using unadjusted quoted market prices for such debt securities. Other long-term debt (consisting primarily of borrowings under the ABL facility, if any, and capital lease obligations) is generally valued for purposes of this disclosure using widely accepted valuation techniques, such as discounted cash flow analyses, and observable inputs, such as market interest rates. Please see Note 9 for more information about the Company’s debt.

Accumulated_Stockholders_Equit

Accumulated Stockholders' Equity (Deficit)	3 Months Ended
	Dec. 31, 2014
Accumulated Stockholders' Equity (Deficit)
Accumulated Stockholders' Equity (Deficit)
	5.   Accumulated Stockholders’ Equity (Deficit)
	In August 2014, we announced that our Board of Directors approved a share repurchase program authorizing us to repurchase up to $1.0 billion of our common stock over a period of approximately three years (the “2014 Share Repurchase Program”). The 2014 Share Repurchase Program expires on September 30, 2017.
	During the three months ended December 31, 2014, the Company repurchased and subsequently retired approximately 0.2 million shares of its common stock under the 2014 Share Repurchase Program at an aggregate cost of $7.3 million. In addition, during the three months ended December 31, 2013, the Company repurchased and subsequently retired approximately 2.4 million shares of its common stock under the 2013 Share Repurchase Program (a share repurchase program approved by our Board in March 2013 and terminated in connection with the authorization of the 2014 Share Repurchase Program) at an aggregate cost of $66.2 million. The Company reduced common stock and additional paid-in capital, in the aggregate, by these amounts. As required by GAAP, the Company recorded any amounts paid to repurchase shares in excess of the balance of additional paid-in capital in accumulated deficit.
	At December 31, 2014 and September 30, 2014, accumulated other comprehensive loss consists of cumulative foreign currency translation adjustments of $45.8 million and $28.5 million, respectively, net of income taxes of $2.3 million at both dates. Comprehensive income (loss) reflects changes in accumulated stockholders’ equity (deficit) from sources other than transactions with stockholders and, as such, includes net earnings and certain other specified components. Currently, the Company’s only component of comprehensive income, other than net earnings, is foreign currency translation adjustments, net of income tax.

Earnings_Per_Share

Earnings Per Share	3 Months Ended
	Dec. 31, 2014
Earnings Per Share
Earnings Per Share
	6.   Earnings Per Share
	Basic earnings per share, is calculated by dividing net earnings by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is calculated similarly but includes the potential dilution from the exercise of all outstanding stock options and stock awards, except when the effect would be anti-dilutive.
	The following table sets forth the computations of basic and diluted earnings per share (in thousands, except per share data):
		Three Months Ended
		December 31,
		2014		2013
	Net earnings	$	54,909	$	57,995
	Weighted average basic shares	156,104		163,603
	Dilutive securities:
	Stock option and stock award programs	2,441		4,152
	Weighted average diluted shares	158,545		167,755
	Earnings per share:
	Basic	$	0.35	$	0.35
	Diluted	$	0.35	$	0.35
	At December 31, 2014 and 2013, options to purchase 1,259,204 shares and 1,462,543 shares, respectively, of the Company’s common stock were outstanding but not included in the computations of diluted earnings per share since these options were anti-dilutive. Anti-dilutive options are: (a) out-of-the-money options (options the exercise price of which is greater than the average price per share of the Company’s common stock during the period), and (b) in-the-money options (options the exercise price of which is less than the average price per share of the Company’s common stock during the period) for which the sum of assumed proceeds, including any unrecognized compensation expense related to such options, exceeds the average price per share for the period.

ShareBased_Payments

Share-Based Payments	3 Months Ended
	Dec. 31, 2014
Share-Based Payments
Share-Based Payments
	7.   Share-Based Payments
	The Company measures the cost of services received from employees, directors and consultants in exchange for an award of equity instruments based on the fair value of the award on the date of grant, and recognizes compensation expense on a straight-line basis over the vesting period or over the period ending on the date a participant becomes eligible for retirement, if earlier.
	The Company granted approximately 1.1 million and 1.5 million stock options and approximately 214,000 and 25,000 restricted share awards to its employees and consultants during the three months ended December 31, 2014 and 2013, respectively. Upon issuance of such grants, the Company recognized accelerated share-based compensation expense of $4.8 million and $5.3 million in the three months ended December 31, 2014 and 2013, respectively, in connection with certain retirement eligible employees who are eligible to continue vesting awards upon retirement under the provisions of the Sally Beauty Holdings, Inc. Amended and Restated 2010 Omnibus Incentive Plan (the “2010 Plan”). In addition, the Company granted approximately 20,000 and 27,000 restricted stock units to its non-employee directors during the three months ended December 31, 2014 and 2013, respectively.
	The following table presents the total compensation cost charged against income and included in selling, general and administrative expenses for all share-based compensation arrangements and the related tax benefits recognized in our consolidated statements of earnings (in thousands):
		Three Months Ended
		December 31,
		2014			2013
	Share-based compensation expense	$	7,760		$	8,522
	Income tax benefit related to share-based compensation expense	$	2,918		$	3,181
	Stock Option Awards
	Each option has an exercise price equal to the closing market price of the Company’s common stock on the date of grant and generally has a maximum term of 10 years. Options generally vest ratably over a four year period and are generally subject to forfeiture until the vesting period is complete, subject to certain retirement provisions contained in the 2010 Plan and certain predecessor share-based compensation plans such as the Sally Beauty Holdings, Inc. 2007 Omnibus Incentive Plan.
	The following table presents a summary of the activity for the Company’s stock option awards for the three months ended December 31, 2014:
		Number of		Weighted			Weighted	Aggregate
		Outstanding		Average			Average	Intrinsic
		Options (in		Exercise			Remaining	Value (in
		Thousands)		Price			Contractual	Thousands)
							Term (in
							Years)
	Outstanding at September 30, 2014	8,983		$	15.93		6.2	$	102,751
	Granted	1,132		29.2
	Exercised	(3,265	)	11.38
	Forfeited or expired	(33	)	22.64
	Outstanding at December 31, 2014	6,817		$	20.28		7.1	$	71,282
	Exercisable at December 31, 2014	3,405		$	14.78		5.5	$	54,366
	The following table summarizes additional information about stock options outstanding under the Company’s share-based compensation plans:
		Options Outstanding						Options Exercisable
	Range of	Number		Weighted		Weighted		Number		Weighted
	Exercise Prices	Outstanding at		Average		Average		Exercisable at		Average
		December 31,		Remaining		Exercise		December 31,		Exercise
		2014 (in		Contractual		Price		2014 (in		Price
		Thousands)		Term (in				Thousands)
				Years)
	$2.00 — 19.99	3,026		5.0		$	12.79	2,617		$	11.78
	$20.00 — 29.20	3,791		8.7		26.27		788		24.70
	Total	6,817		7.1		$	20.28	3,405		$	14.78
	The Company uses the Black-Scholes option pricing model to value the Company’s stock options for each stock option award. Using this option pricing model, the fair value of each stock option award is estimated on the date of grant. The fair value of the Company’s stock option awards is expensed on a straight-line basis over the vesting period (generally four years) of the stock options or to the date a participant becomes eligible for retirement, if earlier.
	The weighted average assumptions relating to the valuation of the Company’s stock options are as follows:
		Three months ended
		December 31,
		2014		2013
	Expected life (in years)	5.0		5.0
	Expected volatility for the Company’s stock	31.0	%	48.4	%
	Risk-free interest rate	1.6	%	1.3	%
	Dividend yield	0.0	%	0.0	%
	The expected life of options represents the period of time that the options granted are expected to be outstanding and is based on historical experience of employees of the Company who have been granted stock options. The risk-free interest rate is based on the zero-coupon U.S. Treasury notes with a comparable term as of the date of the grant. Since the Company does not currently expect to pay dividends, the dividend yield used is 0%.
	The weighted average fair value at the date of grant of the stock options issued by the Company in the three months ended December 31, 2014 and 2013 was $8.77 and $11.32 per option, respectively. The total intrinsic value of options exercised during the three months ended December 31, 2014 was $61.5 million. The cash proceeds from these option exercises were $37.2 million and the tax benefit realized from these option exercises was $23.4 million.
	At December 31, 2014, unrecognized compensation costs related to unvested stock option awards are approximately $18.0 million and are expected to be recognized over the weighted average period of 2.6 years.
	Stock Awards
	Restricted Stock Awards
	The Company from time to time grants restricted stock awards to employees and consultants under the 2010 Plan. A restricted stock award is an award of shares of the Company’s common stock (which have full voting and dividend rights but are restricted with regard to sale or transfer) the restrictions over which lapse ratably over a specified period of time (generally four to five years). Restricted stock awards are independent of stock option grants and are generally subject to forfeiture if employment terminates prior to these restrictions lapsing, subject to certain retirement provisions of the 2010 Plan.
	The fair value of the Company’s restricted stock awards is expensed on a straight-line basis over the period (generally four to five years) in which the restrictions on these stock awards lapse (“vesting”) or over the period ending on the date a participant becomes eligible for retirement, if earlier. For these purposes, the fair value of the restricted stock award is determined based on the closing market price of the Company’s common stock on the date of grant.
	The following table presents a summary of the activity for the Company’s restricted stock awards for the three months ended December 31, 2014:
	Restricted Stock Awards	Number of Shares		Weighted Average			Weighted Average
		(in Thousands)		Fair Value Per			Remaining
				Share			Vesting Term (in
							Years)
	Unvested at September 30, 2014	436		$	22.42		3.4
	Granted	214		29.2
	Vested	(83	)	14.3
	Forfeited	—		—
	Unvested at December 31, 2014	567		$	26.16		3.2
	At December 31, 2014, unrecognized compensation costs related to unvested restricted stock awards are approximately $6.8 million and are expected to be recognized over the weighted average period of 3.2 years.
	Restricted Stock Units
The Company currently grants Restricted Stock Unit (“RSU” or “RSUs”) awards, which generally vest within one year from the date of grant, pursuant to the 2010 Plan. To date, the Company has only granted RSU awards to its non-employee directors. RSUs represent an unsecured promise of the Company to issue shares of the Company’s common stock. Unless forfeited prior to the vesting date, RSUs are converted into shares of the Company’s common stock generally on the vesting date. An independent director who receives an RSU award may elect, upon receipt of such award, to defer until a later date delivery of the shares of common stock of the Company that would otherwise be issued to such director on the vesting date. RSUs granted prior to the fiscal year 2012, are generally retained by the Company as deferred stock units that are not distributed until six months after the independent director’s service as a director terminates. RSUs are independent of stock option grants and are generally subject to forfeiture if service terminates prior to the vesting of the units. Participants have no voting rights with respect to unvested RSUs. Under the 2010 Plan, the Company may settle the vested deferred stock units with shares of the Company’s common stock or in cash.
The Company expenses the cost of the RSUs, which is determined to be the fair value of the RSUs at the date of grant, on a straight-line basis over the vesting period (generally one year). For these purposes, the fair value of the RSU is determined based on the closing market price of the Company’s common stock on the date of grant.
The following table presents a summary of the activity for the Company’s RSUs for the three months ended December 31, 2014:
Restricted Stock Units	Number of Shares		Weighted Average			Weighted Average
	(in Thousands)		Fair Value Per			Remaining
			Share			Vesting Term (in
						Years)
Unvested at September 30, 2014	—		$	—		—
Granted	20		29.20
Vested	—		—
Forfeited	—		—
Unvested at December 31, 2014	20		$	29.20		0.8
At December 31, 2014, unrecognized compensation costs related to unvested RSUs are approximately $0.5 million and are expected to be recognized over the weighted average period of 0.8 years.

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Dec. 31, 2014
Commitments and Contingencies
Commitments and Contingencies
	8.   Commitments and Contingencies
	In the fiscal year ended September 30, 2014, the Company disclosed that it had experienced a data security incident. The costs that the Company has incurred to date in connection with the data security incident primarily include professional advisory and legal costs. For the three months ended December 31, 2014, selling, general and administrative expenses reflect a charge of $0.2 million, consisting primarily of these costs relating to the data security incident.
	The Company may incur additional costs and expenses related to the data security incident in the future. These costs may also result from potential liabilities to payment card networks, governmental or third party investigations, proceedings or litigation and legal and other fees necessary to defend against any potential liabilities or claims. As of December 31, 2014, while the scope of these additional costs, or a range thereof, cannot be reasonably estimated we do not anticipate these additional costs or liabilities would have a material adverse impact on our business, financial condition and operating results.

Shortterm_Borrowings_and_LongT

Short-term Borrowings and Long-Term Debt	3 Months Ended
	Dec. 31, 2014
Short-term Borrowings and Long-Term Debt
Short-term Borrowings and Long-Term Debt
	9.   Short-term Borrowings and Long-term Debt
	Details of long-term debt as of December 31, 2014 are as follows (dollars in thousands):
			Amount		Interest Rates
	ABL facility		$	—	(i)  Prime plus (0.50% to 0.75%) or;
					(ii) LIBOR(a) plus (1.50% to 1.75%)
	Senior notes due Nov. 2019		750,000		6.88%
	Senior notes due Jun. 2022(b)		857,213		5.750%(b)
	Senior notes due Nov. 2023		200,000		5.50%
	Other, due Jun. 2015(c)		51		5.79%
	Total		$	1,807,264
	Capital leases and other		3,728
	Less: current portion		888
	Total long-term debt		$	1,810,104
		(a)		London Interbank Offered Rate (“LIBOR”).
		(b)		Amounts include unamortized premium of $7.2 million related to notes with an aggregate principal amount of $150.0 million. The 5.75% interest rate relates to notes in the aggregate principal amount of $850.0 million.
		(c)		Represents pre-acquisition debt of Sinelco Group BVBA (“Sinelco”).
	In November 2006, the Company, through its subsidiaries (Sally Investment Holdings LLC and Sally Holdings LLC, which we refer to as “Sally Investment” and “Sally Holdings,” respectively) incurred $1,850.0 million of indebtedness in connection with the Company’s separation from its former parent, The Alberto-Culver Company, which we refer to as “Alberto-Culver.” Please see our Annual Report on Form 10-K for the fiscal year ended September 30, 2014 for additional information about the Company’s separation from Alberto-Culver.
	In the fiscal year ended September 30, 2011, Sally Holdings entered into a $400 million, five-year asset-based senior secured loan facility (the “ABL facility”). The availability of funds under the ABL facility, as amended in June 2012, is subject to a customary borrowing base comprised of: (i) a specified percentage of our eligible credit card and trade accounts receivable (as defined therein) and (ii) a specified percentage of our eligible inventory (as defined therein), and reduced by (iii) certain customary reserves and adjustments and by certain outstanding letters of credit. The ABL facility includes a $25.0 million Canadian sub-facility for our Canadian operations. In July 2013, the Company, Sally Holdings and other parties to the ABL facility entered into a second amendment to the ABL facility which, among other things, increased the maximum availability under the ABL facility to $500.0 million (subject to borrowing base limitations), reduced pricing, relaxed the restrictions regarding the making of Restricted Payments, extended the maturity to July 2018 and improved certain other covenant terms.
	At December 31, 2014, the Company had $478.1 million available for borrowing under the ABL facility, including the Canadian sub-facility. Borrowings under the ABL facility are secured by the accounts, inventory and credit card receivables of our domestic subsidiaries and Canadian subsidiaries (in the case of borrowings under the Canadian sub-facility), together with general intangibles and certain other personal property of our domestic subsidiaries and Canadian subsidiaries (in the case of borrowings under the Canadian sub-facility) relating to the accounts and inventory, as well as deposit accounts of our domestic subsidiaries and Canadian subsidiaries (in the case of borrowings under the Canadian sub-facility) and, solely with respect to borrowings by SBH Finance B.V., intercompany notes owed to SBH Finance B.V. by our foreign subsidiaries. In addition, the terms of the ABL facility contain a commitment fee of 0.25% on the unused portion of the facility.
	In the fiscal year ended September 30, 2012, Sally Holdings and Sally Capital Inc. (collectively, the “Issuers”), both indirect wholly-owned subsidiaries of the Company, issued $750.0 million aggregate principal amount of their 6.875% Senior Notes due 2019 (the “senior notes due 2019”) and $850.0 million aggregate principal amount of their 5.75% Senior Notes due 2022 (the “senior notes due 2022”), including notes in the aggregate principal amount of $150.0 million which were issued at par plus a premium. Such premium is being amortized over the term of the notes using the effective interest method. The net proceeds from these debt issuances were used to retire outstanding indebtedness in the aggregate principal amount of approximately $1,391.9 million (substantially all of which was incurred in 2006 in connection with our separation from Alberto-Culver) and for general corporate purposes.
	On October 29, 2013, the Issuers issued $200.0 million aggregate principal amount of their 5.5% Senior Notes due 2023 (the “senior notes due 2023”). The senior notes due 2023 bear interest at an annual rate of 5.5% and were issued at par. The Company used the net proceeds from this debt issuance, approximately $196.3 million, to repay borrowings outstanding under the ABL facility of $88.5 million (which borrowings were primarily used to fund share repurchases) and for general corporate purposes, including share repurchases.
	The senior notes due 2019, the senior notes due 2022 and the senior notes due 2023, which we refer to collectively as “the Notes” or “the senior notes due 2019, 2022 and 2023,” are unsecured obligations of the Issuers and are jointly and severally guaranteed by the Company and Sally Investment, and by each material domestic subsidiary of the Company. Interest on the senior notes due 2019, 2022 and 2023 is payable semi-annually, during the Company’s first and third fiscal quarters. Please see Note 12 for certain condensed financial statement data pertaining to Sally Beauty, the Issuers, the guarantor subsidiaries and the non-guarantor subsidiaries.
	The senior notes due 2019 carry optional redemption features whereby the Company has the option to redeem the notes, in whole or in part, on or after November 15, 2017 at par, plus accrued and unpaid interest, if any, and on or after November 15, 2015 at par plus a premium declining ratably to par, plus accrued and unpaid interest, if any. Prior to November 15, 2015, the notes may be redeemed, in whole or in part, at a redemption price equal to par plus a make-whole premium as provided in the indenture, plus accrued and unpaid interest, if any.
	The senior notes due 2022 carry optional redemption features whereby the Company has the option to redeem the notes, in whole or in part, on or after June 1, 2020 at par, plus accrued and unpaid interest, if any, and on or after June 1, 2017 at par plus a premium declining ratably to par, plus accrued and unpaid interest, if any. Prior to June 1, 2017, the notes may be redeemed, in whole or in part, at a redemption price equal to par plus a make-whole premium as provided in the indenture, plus accrued and unpaid interest, if any. In addition, on or prior to June 1, 2015, the Company has the right to redeem at par plus a specified premium, plus accrued and unpaid interest, if any, up to 35% of the aggregate principal amount of notes originally issued, subject to certain limitations, with the proceeds from certain kinds of equity offerings, as defined in the indenture.
	The senior notes due 2023 carry optional redemption features whereby the Company has the option to redeem the notes, in whole or in part, on or after November 1, 2021 at par, plus accrued and unpaid interest, if any, and on or after November 1, 2018 at par plus a premium declining ratably to par, plus accrued and unpaid interest, if any. Prior to November 1, 2018, the notes may be redeemed, in whole or in part, at a redemption price equal to par plus a make-whole premium as provided in the indenture, plus accrued and unpaid interest, if any. In addition, on or prior to November 1, 2016, the Company has the right to redeem at par plus a specified premium, plus accrued and unpaid interest, if any, up to 35% of the aggregate principal amount of notes originally issued, subject to certain limitations, with the proceeds from certain kinds of equity offerings, as defined in the indenture.
	Maturities of the Company’s long-term debt are as follows as of December 31, 2014 (in thousands):
	Twelve months ending December 31:
	2015		$	51
	2016-2018		—
	2019		750,000
	Thereafter		1,057,213
			$	1,807,264
	Capital lease obligations		3,728
	Less: current portion		888
	Total		$	1,810,104
	We are a holding company and do not have any material assets or operations other than ownership of equity interests of our subsidiaries. The agreements and instruments governing the debt of Sally Holdings and its subsidiaries contain material limitations on their ability to pay dividends and other restricted payments to us which, in turn, constitute material limitations on our ability to pay dividends and other payments to our stockholders.
	The ABL facility does not contain any restriction against the incurrence of unsecured indebtedness. However, the ABL facility restricts the incurrence of secured indebtedness if, after giving effect to the incurrence of such secured indebtedness, the Company’s Secured Leverage Ratio exceeds 4.0 to 1.0. At December 31, 2014, the Company’s Secured Leverage Ratio was less than 0.1 to 1.0. Secured Leverage Ratio is defined as the ratio of (i) Secured Funded Indebtedness (as defined in the ABL facility) to (ii) Consolidated EBITDA (as defined in the ABL facility) for the most recently completed twelve fiscal months.
	The ABL facility is pre-payable and the commitments thereunder may be terminated, in whole or in part, at any time without penalty or premium.
	The indentures governing the senior notes due 2019, 2022 and 2023 contain terms which restrict the ability of Sally Beauty’s subsidiaries to incur additional indebtedness. However, in addition to certain other material exceptions, the Company may incur additional indebtedness under the indentures if its Consolidated Coverage Ratio, after giving pro forma effect to the incurrence of such indebtedness, exceeds 2.0 to 1.0 (“Incurrence Test”). At December 31, 2014, the Company’s Consolidated Coverage Ratio was approximately 5.5 to 1.0. Consolidated Coverage Ratio is defined as the ratio of (i) Consolidated EBITDA (as defined in the indentures) for the period containing the most recent four consecutive fiscal quarters, to (ii) Consolidated Interest Expense (as defined in the indentures) for such period.
	The indentures governing the senior notes due 2019, 2022 and 2023 restrict Sally Holdings and its subsidiaries from making certain dividends and distributions to equity holders and certain other restricted payments (hereafter, a “Restricted Payment” or “Restricted Payments”) to us. However, the indentures permit the making of such Restricted Payments if, at the time of the making of such Restricted Payment, the Company satisfies the Incurrence Test as described above and the cumulative amount of all Restricted Payments made since the issue date of the applicable senior notes does not exceed the sum of: (i) 50% of Sally Holdings’ and its subsidiaries’ cumulative consolidated net earnings since July 1, 2006, plus (ii) the proceeds from the issuance of certain equity securities or conversions of indebtedness to equity, in each case, since the issue date of the applicable senior notes plus (iii) the net reduction in investments in unrestricted subsidiaries since the issue date of the applicable senior notes plus (iv) the return of capital with respect to any sales or dispositions of certain minority investments since the issue date of the applicable senior notes. Further, in addition to certain other baskets, the indentures permit the Company to make additional Restricted Payments in an unlimited amount if, after giving pro forma effect to the incurrence of any indebtedness to make such Restricted Payment, the Company’s Consolidated Total Leverage Ratio (as defined in the indentures) is less than 3.25 to 1.00. At December 31, 2014, the Company’s Consolidated Total Leverage Ratio was approximately 2.8 to 1.0. Consolidated Total Leverage Ratio is defined as the ratio of (i) Consolidated Total Indebtedness (as defined in the indentures) minus cash and cash equivalents on-hand up to $100.0 million, in each case, as of the end of the most recently-ended fiscal quarter to (ii) Consolidated EBITDA (as defined in the indentures) for the period containing the most recent four consecutive fiscal quarters.
	The ABL facility also restricts the making of Restricted Payments. More specifically, under the ABL facility, Sally Holdings may make Restricted Payments if availability under the ABL facility equals or exceeds certain thresholds, and no default then exists under the facility. For Restricted Payments up to $30.0 million during each fiscal year, borrowing availability must equal or exceed the lesser of $75.0 million or 15% of the borrowing base for 45 days prior to such Restricted Payment. For Restricted Payments in excess of that amount, borrowing availability must equal or exceed the lesser of $100.0 million or 20% of the borrowing base for 45 days prior to such Restricted Payment and the Consolidated Fixed Charge Coverage Ratio (as defined below) must equal or exceed 1.1 to 1.0. Further, if borrowing availability equals or exceeds the lesser of $150.0 million or 30% of the borrowing base, Restricted Payments are not limited by the Consolidated Fixed Charge Coverage Ratio test. The Consolidated Fixed Charge Coverage Ratio is defined as the ratio of (i) Consolidated EBITDA (as defined in the ABL facility) during the trailing twelve-month period preceding such proposed Restricted Payment minus certain unfinanced capital expenditures made during such period and income tax payments paid in cash during such period to (ii) fixed charges (as defined in the ABL facility). In addition, during any period that borrowing availability under the ABL facility is less than the greater of $40.0 million or 10% of the borrowing base, the level of the Consolidated Fixed Charge Coverage Ratio that the Company must satisfy is 1.0 to 1.0. As of December 31, 2014, the Consolidated Fixed Charge Coverage Ratio was approximately 3.4 to 1.0.
	When used in this Quarterly Report, the phrase “Consolidated EBITDA” is intended to have the meaning ascribed to such phrase in the ABL facility or the indentures governing the senior notes due 2019, 2022 and 2023, as appropriate. EBITDA is not a recognized measurement under GAAP and should not be considered a substitute for financial performance and liquidity measures determined in accordance with GAAP, such as net earnings, operating earnings and operating cash flows.
	The ABL facility and the indentures governing the senior notes due 2019, 2022 and 2023 contain other covenants regarding restrictions on the disposition of assets, the granting of liens and security interests, the prepayment of certain indebtedness, and other matters and customary events of default, including customary cross-default and/or cross-acceleration provisions. As of December 31, 2014, all the net assets of our consolidated subsidiaries were unrestricted from transfer under our credit arrangements.

Derivative_Instruments_and_Hed

Derivative Instruments and Hedging Activities

3 Months Ended

Dec. 31, 2014

Derivative Instruments and Hedging Activities

Derivative Instruments and Hedging Activities

10.   Derivative Instruments and Hedging Activities

Risk Management Objectives of Using Derivative Instruments

The Company is exposed to a wide variety of risks, including risks arising from changing economic conditions. The Company manages its exposure to certain economic risks (including liquidity, credit risk, and changes in foreign currency exchange rates and in interest rates) primarily: (a) by closely managing its cash flows from operating and investing activities and the amounts and sources of its debt obligations; (b) by assessing periodically the creditworthiness of its business partners; and (c) through the use of derivative instruments from time to time (including, foreign exchange contracts and interest rate swaps) by Sally Holdings.

The Company from time to time uses foreign exchange contracts (including foreign currency forwards and options), as part of its overall economic risk management strategy, to fix the amount of certain foreign assets and obligations relative to its functional and reporting currency (the U.S. dollar) or relative to the functional currency of certain of its consolidated subsidiaries, or to add stability to cash flows resulting from its net investments (including intercompany notes not permanently invested) and earnings denominated in foreign currencies. The Company’s foreign currency exposures at times offset each other, sometimes providing a natural hedge against its foreign currency risk. In connection with the remaining foreign currency risk, the Company uses foreign exchange contracts to effectively fix the foreign currency exchange rate applicable to specific anticipated foreign currency-denominated cash flows, thus limiting the potential fluctuations in such cash flows as a result of foreign currency market movements.

The Company from time to time has used interest rate swaps, as part of its overall economic risk management strategy, to add stability to the interest payments due in connection with its debt obligations. At December 31, 2014, our exposure to interest rate fluctuations relates to interest payments under the ABL facility, if any, and the Company held no derivative instruments in connection therewith.

As of December 31, 2014, the Company did not purchase or hold any derivative instruments for trading or speculative purposes.

Designated Cash Flow Hedges

The Company may use from time to time derivative instruments designated as hedges to manage its exposure to interest rate or foreign currency exchange rate movements, as appropriate. The Company did not purchase or hold any such derivatives at December 31, 2014.

Non-designated Cash Flow Hedges

The Company may use from time to time derivative instruments (such as foreign exchange contracts and interest rate swaps) not designated as hedges or that do not meet the requirements for hedge accounting, to manage its exposure to interest rate or foreign currency exchange rate movements, as appropriate.

The Company uses foreign exchange contracts to manage the exposure to the U.S. dollar resulting from certain of its international subsidiaries’ purchases of merchandise from third-party suppliers. These subsidiaries currently have a functional currency other than the U.S. dollar - their functional currency is either the British pound sterling or the Euro. As such, at December 31, 2014, we hold: (a) foreign currency forwards which enable us to sell approximately £4.9 million ($7.6 million, at the December 31, 2014 exchange rate) at the weighted average contractual exchange rate of 1.6268 and (b) foreign currency forwards which enable us to sell approximately €8.8 million ($10.6 million, at the December 31, 2014 exchange rate) at the weighted average contractual exchange rate of 1.2908. These foreign currency forwards expire ratably through September 21, 2015.

The Company also uses foreign exchange contracts to mitigate its exposure to changes in foreign currency exchange rates in connection with certain intercompany balances not permanently invested. As such, at December 31, 2014, we hold: (a) a foreign currency forward which enables us to sell approximately €18.1 million ($21.9 million, at the December 31, 2014 exchange rate) at the contractual exchange rate of 1.2183, (b) a foreign currency forward which enables us to sell approximately $5.2 million Canadian dollars ($4.5 million, at the December 31, 2014 exchange rate) at the contractual exchange rate of 1.1621, (c) a foreign currency forward which enables us to buy approximately $15.6 million Canadian dollars ($13.4 million, at the December 31, 2014 exchange rate) at the contractual exchange rate of 1.1664, (d) a foreign currency forward which enables us to sell approximately 30.7 million Mexican pesos ($2.1 million, at the December 31, 2014 exchange rate) at the contractual exchange rate of 14.7790 and (e) a foreign currency forward which enables us to buy approximately £1.1 million ($1.8 million, at the December 31, 2014 exchange rate) at the contractual exchange rate of 1.5511. All the foreign currency forwards discussed in this paragraph expire on or before March 31, 2015.

In addition, the Company uses foreign exchange contracts including, at December 31, 2014, foreign currency forwards with an aggregate notional amount of £2.3 million ($3.5 million, at the December 31, 2014 exchange rate) to mitigate the exposure to the British pound sterling resulting from the sale of products and services among certain European subsidiaries of the Company. The foreign currency forwards discussed in this paragraph enable the Company to buy British pound sterling in exchange for Euro currency at the weighted average contractual exchange rate of 0.7984 and expire ratably through September 30, 2015.

At December 31, 2014, all of the Company’s foreign exchange contracts are with a single counterparty. The Company’s foreign exchange contracts are not designated as hedges and do not currently meet the requirements for hedge accounting. Accordingly, the changes in the fair value (i.e., marked-to-market adjustments) of these derivative instruments, which are adjusted quarterly, are recorded in selling, general and administrative expenses in our consolidated statements of earnings. During the three months ended December 31, 2014 and 2013, selling, general and administrative expenses include net gains of $1.5 million and net losses of $0.9 million, respectively, in connection with all of the Company’s foreign currency derivative instruments, including marked-to-market adjustments.

The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Company’s consolidated balance sheet as of December 31, 2014 and September 30, 2014 (in thousands):

Asset Derivatives

Liability Derivatives

Classification

December 31,

September 30,

Classification

December 31,

September 30,

2014

2014

2014

2014

Derivatives designated as hedging instruments:

None

Derivatives not designated as hedging instruments:

Foreign exchange contracts

Other current assets

$

1,284

$

511

Accrued liabilities

$

3

$

47

$

1,284

$

511

$

3

$

47

The table below presents the effect of the Company’s derivative financial instruments on the Company’s consolidated statements of earnings for the three months ended December 31, 2014 and 2013 (in thousands):

Derivatives

Amount of Gain or (Loss) Recognized in OCI

Amount of Gain or (Loss) Reclassified from

Designated as

on Derivative (Effective Portion), net of tax

Accumulated OCI into Income (Effective Portion)

Hedging Instruments

None

Classification of Gain or

Amount of Gain or (Loss) Recognized in Income on

Derivatives

Derivatives Not Designated as

(Loss) Recognized into

Three Months Ended December 31,

Hedging Instruments

Income

2014

2013

Foreign exchange contracts

Selling, general and administrative expenses

$

1,504

$

(858

)

Credit-risk-related Contingent Features

At December 31, 2014, the aggregate fair value of all foreign exchange contracts held which consisted of derivative instruments in a liability position was less than $0.1 million. The Company was under no obligation to post and had not posted any collateral related to the agreements in a liability position.

The counterparty to our derivative instruments is deemed by the Company to be of substantial resources and strong creditworthiness. However, these transactions result in exposure to credit risk in the event of default by the counterparty. The financial crisis that has affected the banking systems and financial markets in recent years resulted in many well-known financial institutions becoming less creditworthy or having diminished liquidity which could expose us to an increased level of counterparty credit risk. In the event that the counterparty defaults in its obligation under our derivative instruments, we could incur substantial financial losses. However, at the present time, no such losses are deemed probable.

Business_Segments

Business Segments	3 Months Ended
	Dec. 31, 2014
Business Segments
Business Segments
	11.   Business Segments
	The Company’s business is organized into two separate segments: (i) Sally Beauty Supply, a domestic and international chain of cash and carry retail stores which offers professional beauty supplies to both salon professionals and retail customers primarily in North America, Puerto Rico, and parts of Europe and South America and (ii) BSG, including its franchise-based business Armstrong McCall, a full service beauty supply distributor which offers professional brands of beauty products directly to salons and salon professionals through its own sales force and professional-only stores (including franchise stores) in partially exclusive geographical territories in North America, Puerto Rico and parts of Europe.
	The accounting policies of both of our business segments are the same as described in the summary of significant accounting policies contained in Note 2 of the “Notes to Consolidated Financial Statements” in “Item 8 - Financial Statements and Supplementary Data” contained in our Annual Report on Form 10-K for the fiscal year ended September 30, 2014. Sales between segments, which were eliminated in consolidation, were not material during the three months ended December 31, 2014 and 2013.
	Segment data for the three months ended December 31, 2014 and 2013 is as follows (in thousands):
			Three Months Ended
			December 31,
			2014			2013
	Net sales:
	Sally Beauty Supply		$	586,519		$	573,355
	BSG		377,949			367,109
	Total		$	964,468		$	940,464
	Earnings before provision for income taxes:
	Segment operating profit:
	Sally Beauty Supply		$	101,179		$	103,543
	BSG		56,589			54,834
	Segment operating profit		157,768			158,377
	Unallocated expenses (a)		(33,772		)	(28,062		)
	Share-based compensation expense		(7,760		)	(8,522		)
	Interest expense		(29,241		)	(28,489		)
	Earnings before provision for income taxes		$	86,995		$	93,304
		(a)		Unallocated expenses consist of corporate and shared costs.

Parent_Issuers_Guarantor_and_N

Parent, Issuers, Guarantor and Non-Guarantor Condensed Consolidated Financial Statements	3 Months Ended
	Dec. 31, 2014
Parent, Issuers, Guarantor and Non-Guarantor Condensed Consolidated Financial Statements
Parent, Issuers, Guarantor and Non-Guarantor Condensed Consolidated Financial Statements
	12.   Parent, Issuers, Guarantor and Non-Guarantor Condensed Consolidated Financial Statements
	The following consolidating financial information presents the condensed consolidating balance sheets as of December 31, 2014 and September 30, 2014, and the related condensed consolidating statements of earnings, condensed consolidating statements of comprehensive income and condensed consolidating statements of cash flows for the three months ended December 31, 2014 and 2013: (i) Sally Beauty Holdings, Inc., or the “Parent;” (ii) Sally Holdings LLC and Sally Capital Inc., or the “Issuers;” (iii) the guarantor subsidiaries; (iv) the non-guarantor subsidiaries; (v) elimination entries necessary for consolidation purposes; and (vi) Sally Beauty on a consolidated basis.
	Investments in subsidiaries are accounted for using the equity method for purposes of the consolidating presentation. The principal elimination entries relate to investments in subsidiaries and intercompany balances and transactions. Separate financial statements and other disclosures with respect to the guarantor subsidiaries have not been provided as management believes the following information is sufficient, as guarantor subsidiaries are 100% indirectly owned by the Parent and all guarantees are full and unconditional. Additionally, the accounts, inventory, credit card receivables, deposit accounts, certain intercompany notes and certain other personal property of the guarantor subsidiaries relating to the inventory and accounts are pledged under the ABL facility and consequently may not be available to satisfy the claims of general creditors.
	Condensed Consolidating Balance Sheet
	December 31, 2014
	(In thousands)
		Parent			Sally			Guarantor			Non-			Consolidating			Sally Beauty
					Holdings			Subsidiaries			Guarantor			Eliminations			Holdings,
					LLC and						Subsidiaries						Inc. and
					Sally Capital												Subsidiaries
					Inc.
	Assets
	Cash and cash equivalents	$	—		$	107,501		$	40,440		$	42,740		$	—		$	190,681
	Trade and other accounts receivable, less allowance for doubtful accounts	—			—			58,231			29,420			—			87,651
	Due from affiliates	—			—			1,540,318			447			(1,540,765		)	—
	Inventory	—			—			641,006			196,816			—			837,822
	Other current assets	5,448			1,251			13,115			16,054			—			35,868
	Deferred income tax assets, net	(213		)	1			30,527			1,431			—			31,746
	Property and equipment, net	1			—			158,962			77,715			—			236,678
	Investment in subsidiaries	510,580			2,892,899			380,787			—			(3,784,266		)	—
	Goodwill and other intangible assets, net	—			—			472,901			168,100			—			641,001
	Other assets	—			27,751			1,610			6,226			—			35,587
	Total assets	$	515,816		$	3,029,403		$	3,337,897		$	538,949		$	(5,325,031	)	$	2,097,034
	Liabilities and Stockholders’ (Deficit) Equity
	Accounts payable	$	6		$	—		$	207,454		$	57,313		$	—		$	264,773
	Due to affiliates	772,232			697,914			447			70,172			(1,540,765		)	—
	Accrued liabilities	559			12,876			122,182			25,013			—			160,630
	Income taxes payable	—			1,120			1			2,603			—			3,724
	Long-term debt	—			1,807,213			223			3,556			—			1,810,992
	Other liabilities	—			—			26,069			2,834			—			28,903
	Deferred income tax liabilities, net	(1,425		)	(300		)	88,622			(3,329		)	—			83,568
	Total liabilities	771,372			2,518,823			444,998			158,162			(1,540,765		)	2,352,590
	Total stockholders’ (deficit) equity	(255,556		)	510,580			2,892,899			380,787			(3,784,266		)	(255,556		)
	Total liabilities and stockholders’ (deficit) equity	$	515,816		$	3,029,403		$	3,337,897		$	538,949		$	(5,325,031	)	$	2,097,034
	Condensed Consolidating Balance Sheet
	September 30, 2014
	(In thousands)
		Parent			Sally			Guarantor			Non-			Consolidating			Sally Beauty
					Holdings			Subsidiaries			Guarantor			Eliminations			Holdings,
					LLC and						Subsidiaries						Inc. and
					Sally Capital												Subsidiaries
					Inc.
	Assets
	Cash and cash equivalents	$	—		$	27,000		$	40,042		$	39,533		$	—		$	106,575
	Trade and other accounts receivable, less allowance for doubtful accounts	2			—			63,009			35,489			—			98,500
	Due from affiliates	—			—			1,464,752			27			(1,464,779		)	—
	Inventory	—			—			631,786			196,643			—			828,429
	Other current assets	7,935			452			15,016			15,592			—			38,995
	Deferred income tax assets, net	(213		)	1			30,527			1,335			—			31,650
	Property and equipment, net	1			—			158,402			79,708			—			238,111
	Investment in subsidiaries	471,320			2,835,722			392,270			—			(3,699,312		)	—
	Goodwill and other intangible assets, net	—			—			476,113			174,972			—			651,085
	Other assets	—			28,931			1,625			6,072			—			36,628
	Total assets	$	479,045		$	2,892,106		$	3,273,542		$	549,371		$	(5,164,091	)	$	2,029,973
	Liabilities and Stockholders’ (Deficit) Equity
	Accounts payable	$	—		$	—		$	202,743		$	56,720		$	—		$	259,463
	Due to affiliates	826,819			571,847			27			66,086			(1,464,779		)	—
	Accrued liabilities	691			40,751			129,791			27,536			—			198,769
	Income taxes payable	—			1,051			1			3,279			—			4,331
	Long-term debt	—			1,807,447			267			3,927			—			1,811,641
	Other liabilities	—			—			25,020			2,828			—			27,848
	Deferred income tax liabilities, net	(1,412		)	(310		)	79,971			(3,275		)	—			74,974
	Total liabilities	826,098			2,420,786			437,820			157,101			(1,464,779		)	2,377,026
Total stockholders’ (deficit) equity	(347,053		)	471,320			2,835,722			392,270			(3,699,312		)	(347,053		)
Total liabilities and stockholders’ (deficit) equity	$	479,045		$	2,892,106		$	3,273,542		$	549,371		$	(5,164,091	)	$	2,029,973
Condensed Consolidating Statement of Earnings and Comprehensive Income
Three Months Ended December 31, 2014
(In thousands)
	Parent			Sally Holdings			Guarantor			Non-			Consolidating			Sally Beauty
				LLC and Sally			Subsidiaries			Guarantor			Eliminations			Holdings, Inc.
				Capital Inc.						Subsidiaries						and Subsidiaries
Net sales	$	—		$	—		$	767,923		$	196,545		$	—		$	964,468
Related party sales	—			—			767			—			(767		)	—
Cost of products sold and distribution expenses	—			—			386,816			104,650			(767		)	490,699
Gross profit	—			—			381,874			91,895			—			473,769
Selling, general and administrative expenses	2,376			104			257,786			76,688			—			336,954
Depreciation and amortization	—			—			14,854			5,725			—			20,579
Operating earnings (loss)	(2,376		)	(104		)	109,234			9,482			—			116,236
Interest expense	—			29,193			2			46			—			29,241
Earnings (loss) before provision for income taxes	(2,376		)	(29,297		)	109,232			9,436			—			86,995
Provision (benefit) for income taxes	(724		)	(11,379		)	40,872			3,317			—			32,086
Equity in earnings of subsidiaries, net of tax	56,561			74,479			6,119			—			(137,159		)	—
Net earnings	54,909			56,561			74,479			6,119			(137,159		)	54,909
Other comprehensive income (loss), net of tax	—			—			—			(17,301		)	—			(17,301		)
Total comprehensive income (loss)	$	54,909		$	56,561		$	74,479		$	(11,182	)	$	(137,159	)	$	37,608
Condensed Consolidating Statement of Earnings and Comprehensive Income
Three Months Ended December 31, 2013
(In thousands)
	Parent			Sally Holdings			Guarantor			Non-			Consolidating			Sally Beauty
				LLC and Sally			Subsidiaries			Guarantor			Eliminations			Holdings, Inc.
				Capital Inc.						Subsidiaries						and Subsidiaries
Net sales	$	—		$	—		$	743,276		$	197,188		$	—		$	940,464
Related party sales	—			—			803			—			(803		)	—
Cost of products sold and distribution expenses	—			—			374,681			106,060			(803		)	479,938
Gross profit	—			—			369,398			91,128			—			460,526
Selling, general and administrative expenses	2,463			112			241,881			75,022			—			319,478
Depreciation and amortization	—			—			13,870			5,385			—			19,255
Operating earnings (loss)	(2,463		)	(112		)	113,647			10,721			—			121,793
Interest expense	—			28,425			1			63			—			28,489
Earnings (loss) before provision for income taxes	(2,463		)	(28,537		)	113,646			10,658			—			93,304
Provision (benefit) for income taxes	(932		)	(11,080		)	43,980			3,341			—			35,309
Equity in earnings of subsidiaries, net of tax	59,526			76,983			7,317			—			(143,826		)	—
Net earnings	57,995			59,526			76,983			7,317			(143,826		)	57,995
Other comprehensive income, net of tax	—			—			—			2,567			—			2,567
Total comprehensive income	$	57,995		$	59,526		$	76,983		$	9,884		$	(143,826	)	$	60,562
Condensed Consolidating Statement of Cash Flows
Three months ended December 31, 2014
(In thousands)
	Parent			Sally Holdings			Guarantor			Non-			Consolidating			Sally Beauty
				LLC and			Subsidiaries			Guarantor			Eliminations			Holdings,
				Sally Capital						Subsidiaries						Inc. and
				Inc.												Subsidiaries
Net cash (used) provided by operating activities	$	(46,946	)	$	80,501		$	12,356		$	11,125		$	—		$	57,036
Cash Flows from Investing Activities:
Capital expenditures, net of proceeds from sale of property and equipment	—			—			(11,915		)	(6,885		)	—			(18,800		)
Net cash used by investing activities	—			—			(11,915		)	(6,885		)	—			(18,800		)
Cash Flows from Financing Activities:
Repayments of long-term debt	—			—			(43		)	(215		)	—			(258		)
Repurchases of common stock	(7,253		)	—			—			—			—			(7,253		)
Proceeds from exercises of stock options	37,156			—			—			—			—			37,156
Excess tax benefit from share-based compensation	17,043			—			—			—			—			17,043
Net cash provided (used) by financing activities	46,946			—			(43		)	(215		)	—			46,688
Effect of foreign exchange rate changes on cash and cash equivalents	—			—			—			(818		)	—			(818		)
Net increase in cash and cash equivalents	—			80,501			398			3,207			—			84,106
Cash and cash equivalents, beginning of period	—			27,000			40,042			39,533			—			106,575
Cash and cash equivalents, end of period	$	—		$	107,501		$	40,440		$	42,740		$	—		$	190,681
Condensed Consolidating Statement of Cash Flows
Three Months Ended December 31, 2013
(In thousands)
	Parent			Sally Holdings			Guarantor			Non-			Consolidating			Sally Beauty
				LLC and			Subsidiaries			Guarantor			Eliminations			Holdings,
				Sally Capital						Subsidiaries						Inc. and
				Inc.												Subsidiaries
Net cash provided (used) by operating activities	$	55,879		$	(41,111	)	$	34,374		$	10,962		$	—		$	60,104
Cash Flows from Investing Activities:
Capital expenditures, net of proceeds from sale of property and equipment	—			—			(7,766		)	(5,609		)	—			(13,375		)
Net cash used by investing activities	—			—			(7,766		)	(5,609		)	—			(13,375		)
Cash Flows from Financing Activities:
Proceeds from issuance of long-term debt	—			232,500			219			—			—			232,719
Repayments of long-term debt	—			(108,500		)	(39		)	(486		)	—			(109,025		)
Debt issuance costs	—			(3,888		)	—			—			—			(3,888		)
Repurchases of common stock	(66,183		)	—			—			—			—			(66,183		)
Proceeds from exercises of stock options	7,319			—			—			—			—			7,319
Excess tax benefit from share-based compensation	2,985			—			—			—			—			2,985
Net cash (used) provided by financing activities	(55,879		)	120,112			180			(486		)	—			63,927
Effect of foreign exchange rate changes on cash and cash equivalents	—			—			—			153			—			153
Net increase in cash and cash equivalents	—			79,001			26,788			5,020			—			110,809
Cash and cash equivalents, beginning of period	—			—			16,337			30,778			—			47,115
Cash and cash equivalents, end of period	$	—		$	79,001		$	43,125		$	35,798		$	—		$	157,924

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	3 Months Ended
	Dec. 31, 2014
Fair Value Measurements
Schedule of financial assets and liabilities by fair value hierarchy
	Consistent with this hierarchy, the Company categorized certain of its financial assets and liabilities as follows at December 31, 2014 and September 30, 2014 (in thousands):
			As of December 31, 2014
			Total		Level 1		Level 2		Level 3
	Assets
	Cash equivalents (a)		$	107,501	$	107,501	$	—	—
	Foreign exchange contracts (b)		1,284		—		1,284		—
	Total assets		$	108,785	$	107,501	$	1,284	—
	Liabilities
	Long-term debt (c)		$	1,893,779	$	1,890,000	$	3,779	—
	Foreign exchange contracts (b)		3		—		3		—
	Total liabilities		$	1,893,782	$	1,890,000	$	3,782	—
			As of September 30, 2014
			Total		Level 1		Level 2		Level 3
	Assets
	Cash equivalents (a)		$	27,000	$	27,000	$	—	—
	Foreign exchange contracts (b)		511		—		511		—
	Total assets		$	27,511	$	27,000	$	511	—
	Liabilities
	Long-term debt (c)		$	1,874,444	$	1,870,250	$	4,194	—
	Foreign exchange contracts (b)		47		—		47		—
	Total liabilities		$	1,874,491	$	1,870,250	$	4,241	—
		(a)		Cash equivalents consist of highly liquid investments which have no maturity and are valued using unadjusted quoted market prices for such securities. The Company may from time to time invest in securities with maturities of three months or less (consisting primarily of investment-grade corporate and government bonds), with the primary investment objective of minimizing the potential risk of loss of principal.
		(b)		Foreign exchange contracts (including foreign currency forwards and options) are valued for purposes of this disclosure using widely accepted valuation techniques, such as discounted cash flow analyses, and reasonable estimates, such as market foreign currency exchange rates. Please see Note 10 for more information about the Company’s foreign exchange contracts.
		(c)		Long-term debt (including current maturities and borrowings under the ABL facility, if any) is carried in the Company’s consolidated financial statements at amortized cost of $1,811.0 million at December 31, 2014 and $1,811.6 million at September 30, 2014. The Company’s senior notes are valued for purposes of this disclosure using unadjusted quoted market prices for such debt securities. Other long-term debt (consisting primarily of borrowings under the ABL facility, if any, and capital lease obligations) is generally valued for purposes of this disclosure using widely accepted valuation techniques, such as discounted cash flow analyses, and observable inputs, such as market interest rates. Please see Note 9 for more information about the Company’s debt.

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	3 Months Ended
	Dec. 31, 2014
Earnings Per Share
Schedule of computations of basic and diluted earnings per share
	The following table sets forth the computations of basic and diluted earnings per share (in thousands, except per share data):
		Three Months Ended
		December 31,
		2014		2013
	Net earnings	$	54,909	$	57,995
	Weighted average basic shares	156,104		163,603
	Dilutive securities:
	Stock option and stock award programs	2,441		4,152
	Weighted average diluted shares	158,545		167,755
	Earnings per share:
	Basic	$	0.35	$	0.35
	Diluted	$	0.35	$	0.35

ShareBased_Payments_Tables

Share-Based Payments (Tables)	3 Months Ended
	Dec. 31, 2014
Share-Based Payments
Schedule of total compensation cost charged against income
	The following table presents the total compensation cost charged against income and included in selling, general and administrative expenses for all share-based compensation arrangements and the related tax benefits recognized in our consolidated statements of earnings (in thousands):
		Three Months Ended
		December 31,
		2014			2013
	Share-based compensation expense	$	7,760		$	8,522
	Income tax benefit related to share-based compensation expense	$	2,918		$	3,181
Summary of activity for stock option awards
		Number of		Weighted			Weighted	Aggregate
		Outstanding		Average			Average	Intrinsic
		Options (in		Exercise			Remaining	Value (in
		Thousands)		Price			Contractual	Thousands)
							Term (in
							Years)
	Outstanding at September 30, 2014	8,983		$	15.93		6.2	$	102,751
	Granted	1,132		29.2
	Exercised	(3,265	)	11.38
	Forfeited or expired	(33	)	22.64
	Outstanding at December 31, 2014	6,817		$	20.28		7.1	$	71,282
	Exercisable at December 31, 2014	3,405		$	14.78		5.5	$	54,366
Summary of stock options by range of exercise prices
		Options Outstanding						Options Exercisable
	Range of	Number		Weighted		Weighted		Number		Weighted
	Exercise Prices	Outstanding at		Average		Average		Exercisable at		Average
		December 31,		Remaining		Exercise		December 31,		Exercise
		2014 (in		Contractual		Price		2014 (in		Price
		Thousands)		Term (in				Thousands)
				Years)
	$2.00 — 19.99	3,026		5.0		$	12.79	2,617		$	11.78
	$20.00 — 29.20	3,791		8.7		26.27		788		24.70
	Total	6,817		7.1		$	20.28	3,405		$	14.78
Schedule of weighted average assumptions for valuation of stock options
		Three months ended
		December 31,
		2014		2013
	Expected life (in years)	5.0		5.0
	Expected volatility for the Company’s stock	31.0	%	48.4	%
	Risk-free interest rate	1.6	%	1.3	%
	Dividend yield	0.0	%	0.0	%
Restricted Stock Awards
Share-Based Payments
Summary of the activity for restricted stock awards/units
	Restricted Stock Awards	Number of Shares		Weighted Average			Weighted Average
		(in Thousands)		Fair Value Per			Remaining
				Share			Vesting Term (in
							Years)
	Unvested at September 30, 2014	436		$	22.42		3.4
	Granted	214		29.2
	Vested	(83	)	14.3
	Forfeited	—		—
	Unvested at December 31, 2014	567		$	26.16		3.2
Restricted Stock Units
Share-Based Payments
Summary of the activity for restricted stock awards/units
	Restricted Stock Units	Number of Shares		Weighted Average			Weighted Average
		(in Thousands)		Fair Value Per			Remaining
				Share			Vesting Term (in
							Years)
	Unvested at September 30, 2014	—		$	—		—
	Granted	20		29.20
	Vested	—		—
	Forfeited	—		—
	Unvested at December 31, 2014	20		$	29.20		0.8

Shortterm_Borrowings_and_LongT1

Short-term Borrowings and Long-Term Debt (Tables)	3 Months Ended
	Dec. 31, 2014
Short-term Borrowings and Long-Term Debt
Summary of long-term debt
	Details of long-term debt as of December 31, 2014 are as follows (dollars in thousands):
			Amount		Interest Rates
	ABL facility		$	—	(i)  Prime plus (0.50% to 0.75%) or;
					(ii) LIBOR(a) plus (1.50% to 1.75%)
	Senior notes due Nov. 2019		750,000		6.88%
	Senior notes due Jun. 2022(b)		857,213		5.750%(b)
	Senior notes due Nov. 2023		200,000		5.50%
	Other, due Jun. 2015(c)		51		5.79%
	Total		$	1,807,264
	Capital leases and other		3,728
	Less: current portion		888
	Total long-term debt		$	1,810,104
		(a)		London Interbank Offered Rate (“LIBOR”).
		(b)		Amounts include unamortized premium of $7.2 million related to notes with an aggregate principal amount of $150.0 million. The 5.75% interest rate relates to notes in the aggregate principal amount of $850.0 million.
		(c)		Represents pre-acquisition debt of Sinelco Group BVBA (“Sinelco”).
Schedule of maturities of long-term debt
	Maturities of the Company’s long-term debt are as follows as of December 31, 2014 (in thousands):
	Twelve months ending December 31:
	2015		$	51
	2016-2018		—
	2019		750,000
	Thereafter		1,057,213
			$	1,807,264
	Capital lease obligations		3,728
	Less: current portion		888
	Total		$	1,810,104

Derivative_Instruments_and_Hed1

Derivative Instruments and Hedging Activities (Tables)	3 Months Ended
	Dec. 31, 2014
Derivative Instruments and Hedging Activities
Tabular disclosure of fair values of derivative instruments
	The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Company’s consolidated balance sheet as of December 31, 2014 and September 30, 2014 (in thousands):
		Asset Derivatives						Liability Derivatives
		Classification	December 31,		September 30,			Classification	December 31,		September 30,
			2014		2014				2014		2014
	Derivatives designated as hedging instruments:
	None
	Derivatives not designated as hedging instruments:
	Foreign exchange contracts	Other current assets	$	1,284	$	511		Accrued liabilities	$	3	$	47
			$	1,284	$	511			$	3	$	47
Tabular disclosure of the effect of derivative instruments on the statement of earnings
	The table below presents the effect of the Company’s derivative financial instruments on the Company’s consolidated statements of earnings for the three months ended December 31, 2014 and 2013 (in thousands):
	Derivatives	Amount of Gain or (Loss) Recognized in OCI	Amount of Gain or (Loss) Reclassified from
	Designated as	on Derivative (Effective Portion), net of tax	Accumulated OCI into Income (Effective Portion)
	Hedging Instruments
	None
		Classification of Gain or	Amount of Gain or (Loss) Recognized in Income on
			Derivatives
	Derivatives Not Designated as	(Loss) Recognized into	Three Months Ended December 31,
	Hedging Instruments	Income	2014		2013
	Foreign exchange contracts	Selling, general and administrative expenses	$	1,504	$	(858	)

Business_Segments_Tables

Business Segments (Tables)	3 Months Ended
	Dec. 31, 2014
Business Segments
Schedule of segment data
	Segment data for the three months ended December 31, 2014 and 2013 is as follows (in thousands):
			Three Months Ended
			December 31,
			2014			2013
	Net sales:
	Sally Beauty Supply		$	586,519		$	573,355
	BSG		377,949			367,109
	Total		$	964,468		$	940,464
	Earnings before provision for income taxes:
	Segment operating profit:
	Sally Beauty Supply		$	101,179		$	103,543
	BSG		56,589			54,834
	Segment operating profit		157,768			158,377
	Unallocated expenses (a)		(33,772		)	(28,062		)
	Share-based compensation expense		(7,760		)	(8,522		)
	Interest expense		(29,241		)	(28,489		)
	Earnings before provision for income taxes		$	86,995		$	93,304
		(a)		Unallocated expenses consist of corporate and shared costs.

Parent_Issuers_Guarantor_and_N1

Parent, Issuers, Guarantor and Non-Guarantor Condensed Consolidated Financial Statements (Tables)	3 Months Ended
	Dec. 31, 2014
Parent, Issuers, Guarantor and Non-Guarantor Condensed Consolidated Financial Statements
Schedule of Condensed Consolidating Balance Sheet
	Condensed Consolidating Balance Sheet
	December 31, 2014
	(In thousands)
		Parent			Sally			Guarantor			Non-			Consolidating			Sally Beauty
					Holdings			Subsidiaries			Guarantor			Eliminations			Holdings,
					LLC and						Subsidiaries						Inc. and
					Sally Capital												Subsidiaries
					Inc.
	Assets
	Cash and cash equivalents	$	—		$	107,501		$	40,440		$	42,740		$	—		$	190,681
	Trade and other accounts receivable, less allowance for doubtful accounts	—			—			58,231			29,420			—			87,651
	Due from affiliates	—			—			1,540,318			447			(1,540,765		)	—
	Inventory	—			—			641,006			196,816			—			837,822
	Other current assets	5,448			1,251			13,115			16,054			—			35,868
	Deferred income tax assets, net	(213		)	1			30,527			1,431			—			31,746
	Property and equipment, net	1			—			158,962			77,715			—			236,678
	Investment in subsidiaries	510,580			2,892,899			380,787			—			(3,784,266		)	—
	Goodwill and other intangible assets, net	—			—			472,901			168,100			—			641,001
	Other assets	—			27,751			1,610			6,226			—			35,587
	Total assets	$	515,816		$	3,029,403		$	3,337,897		$	538,949		$	(5,325,031	)	$	2,097,034
	Liabilities and Stockholders’ (Deficit) Equity
	Accounts payable	$	6		$	—		$	207,454		$	57,313		$	—		$	264,773
	Due to affiliates	772,232			697,914			447			70,172			(1,540,765		)	—
	Accrued liabilities	559			12,876			122,182			25,013			—			160,630
	Income taxes payable	—			1,120			1			2,603			—			3,724
	Long-term debt	—			1,807,213			223			3,556			—			1,810,992
	Other liabilities	—			—			26,069			2,834			—			28,903
	Deferred income tax liabilities, net	(1,425		)	(300		)	88,622			(3,329		)	—			83,568
	Total liabilities	771,372			2,518,823			444,998			158,162			(1,540,765		)	2,352,590
	Total stockholders’ (deficit) equity	(255,556		)	510,580			2,892,899			380,787			(3,784,266		)	(255,556		)
	Total liabilities and stockholders’ (deficit) equity	$	515,816		$	3,029,403		$	3,337,897		$	538,949		$	(5,325,031	)	$	2,097,034
	Condensed Consolidating Balance Sheet
	September 30, 2014
	(In thousands)
		Parent			Sally			Guarantor			Non-			Consolidating			Sally Beauty
					Holdings			Subsidiaries			Guarantor			Eliminations			Holdings,
					LLC and						Subsidiaries						Inc. and
					Sally Capital												Subsidiaries
					Inc.
	Assets
	Cash and cash equivalents	$	—		$	27,000		$	40,042		$	39,533		$	—		$	106,575
	Trade and other accounts receivable, less allowance for doubtful accounts	2			—			63,009			35,489			—			98,500
	Due from affiliates	—			—			1,464,752			27			(1,464,779		)	—
	Inventory	—			—			631,786			196,643			—			828,429
	Other current assets	7,935			452			15,016			15,592			—			38,995
	Deferred income tax assets, net	(213		)	1			30,527			1,335			—			31,650
	Property and equipment, net	1			—			158,402			79,708			—			238,111
	Investment in subsidiaries	471,320			2,835,722			392,270			—			(3,699,312		)	—
	Goodwill and other intangible assets, net	—			—			476,113			174,972			—			651,085
	Other assets	—			28,931			1,625			6,072			—			36,628
	Total assets	$	479,045		$	2,892,106		$	3,273,542		$	549,371		$	(5,164,091	)	$	2,029,973
	Liabilities and Stockholders’ (Deficit) Equity
	Accounts payable	$	—		$	—		$	202,743		$	56,720		$	—		$	259,463
	Due to affiliates	826,819			571,847			27			66,086			(1,464,779		)	—
	Accrued liabilities	691			40,751			129,791			27,536			—			198,769
	Income taxes payable	—			1,051			1			3,279			—			4,331
	Long-term debt	—			1,807,447			267			3,927			—			1,811,641
	Other liabilities	—			—			25,020			2,828			—			27,848
	Deferred income tax liabilities, net	(1,412		)	(310		)	79,971			(3,275		)	—			74,974
	Total liabilities	826,098			2,420,786			437,820			157,101			(1,464,779		)	2,377,026
	Total stockholders’ (deficit) equity	(347,053		)	471,320			2,835,722			392,270			(3,699,312		)	(347,053		)
	Total liabilities and stockholders’ (deficit) equity	$	479,045		$	2,892,106		$	3,273,542		$	549,371		$	(5,164,091	)	$	2,029,973
Schedule of Condensed Consolidating Statement of Earnings
	Condensed Consolidating Statement of Earnings and Comprehensive Income
	Three Months Ended December 31, 2014
	(In thousands)
		Parent			Sally Holdings			Guarantor			Non-			Consolidating			Sally Beauty
					LLC and Sally			Subsidiaries			Guarantor			Eliminations			Holdings, Inc.
					Capital Inc.						Subsidiaries						and Subsidiaries
	Net sales	$	—		$	—		$	767,923		$	196,545		$	—		$	964,468
	Related party sales	—			—			767			—			(767		)	—
	Cost of products sold and distribution expenses	—			—			386,816			104,650			(767		)	490,699
	Gross profit	—			—			381,874			91,895			—			473,769
	Selling, general and administrative expenses	2,376			104			257,786			76,688			—			336,954
	Depreciation and amortization	—			—			14,854			5,725			—			20,579
	Operating earnings (loss)	(2,376		)	(104		)	109,234			9,482			—			116,236
	Interest expense	—			29,193			2			46			—			29,241
	Earnings (loss) before provision for income taxes	(2,376		)	(29,297		)	109,232			9,436			—			86,995
	Provision (benefit) for income taxes	(724		)	(11,379		)	40,872			3,317			—			32,086
	Equity in earnings of subsidiaries, net of tax	56,561			74,479			6,119			—			(137,159		)	—
	Net earnings	54,909			56,561			74,479			6,119			(137,159		)	54,909
	Other comprehensive income (loss), net of tax	—			—			—			(17,301		)	—			(17,301		)
	Total comprehensive income (loss)	$	54,909		$	56,561		$	74,479		$	(11,182	)	$	(137,159	)	$	37,608
	Condensed Consolidating Statement of Earnings and Comprehensive Income
	Three Months Ended December 31, 2013
	(In thousands)
		Parent			Sally Holdings			Guarantor			Non-			Consolidating			Sally Beauty
					LLC and Sally			Subsidiaries			Guarantor			Eliminations			Holdings, Inc.
					Capital Inc.						Subsidiaries						and Subsidiaries
	Net sales	$	—		$	—		$	743,276		$	197,188		$	—		$	940,464
	Related party sales	—			—			803			—			(803		)	—
	Cost of products sold and distribution expenses	—			—			374,681			106,060			(803		)	479,938
	Gross profit	—			—			369,398			91,128			—			460,526
	Selling, general and administrative expenses	2,463			112			241,881			75,022			—			319,478
	Depreciation and amortization	—			—			13,870			5,385			—			19,255
	Operating earnings (loss)	(2,463		)	(112		)	113,647			10,721			—			121,793
	Interest expense	—			28,425			1			63			—			28,489
	Earnings (loss) before provision for income taxes	(2,463		)	(28,537		)	113,646			10,658			—			93,304
	Provision (benefit) for income taxes	(932		)	(11,080		)	43,980			3,341			—			35,309
	Equity in earnings of subsidiaries, net of tax	59,526			76,983			7,317			—			(143,826		)	—
	Net earnings	57,995			59,526			76,983			7,317			(143,826		)	57,995
	Other comprehensive income, net of tax	—			—			—			2,567			—			2,567
	Total comprehensive income	$	57,995		$	59,526		$	76,983		$	9,884		$	(143,826	)	$	60,562
Schedule of Condensed Consolidating Statement of Cash Flows
	Condensed Consolidating Statement of Cash Flows
	Three months ended December 31, 2014
	(In thousands)
		Parent			Sally Holdings			Guarantor			Non-			Consolidating			Sally Beauty
					LLC and			Subsidiaries			Guarantor			Eliminations			Holdings,
					Sally Capital						Subsidiaries						Inc. and
					Inc.												Subsidiaries
	Net cash (used) provided by operating activities	$	(46,946	)	$	80,501		$	12,356		$	11,125		$	—		$	57,036
	Cash Flows from Investing Activities:
	Capital expenditures, net of proceeds from sale of property and equipment	—			—			(11,915		)	(6,885		)	—			(18,800		)
	Net cash used by investing activities	—			—			(11,915		)	(6,885		)	—			(18,800		)
	Cash Flows from Financing Activities:
	Repayments of long-term debt	—			—			(43		)	(215		)	—			(258		)
	Repurchases of common stock	(7,253		)	—			—			—			—			(7,253		)
	Proceeds from exercises of stock options	37,156			—			—			—			—			37,156
	Excess tax benefit from share-based compensation	17,043			—			—			—			—			17,043
	Net cash provided (used) by financing activities	46,946			—			(43		)	(215		)	—			46,688
	Effect of foreign exchange rate changes on cash and cash equivalents	—			—			—			(818		)	—			(818		)
	Net increase in cash and cash equivalents	—			80,501			398			3,207			—			84,106
	Cash and cash equivalents, beginning of period	—			27,000			40,042			39,533			—			106,575
	Cash and cash equivalents, end of period	$	—		$	107,501		$	40,440		$	42,740		$	—		$	190,681
	Condensed Consolidating Statement of Cash Flows
	Three Months Ended December 31, 2013
	(In thousands)
		Parent			Sally Holdings			Guarantor			Non-			Consolidating			Sally Beauty
					LLC and			Subsidiaries			Guarantor			Eliminations			Holdings,
					Sally Capital						Subsidiaries						Inc. and
					Inc.												Subsidiaries
	Net cash provided (used) by operating activities	$	55,879		$	(41,111	)	$	34,374		$	10,962		$	—		$	60,104
	Cash Flows from Investing Activities:
	Capital expenditures, net of proceeds from sale of property and equipment	—			—			(7,766		)	(5,609		)	—			(13,375		)
	Net cash used by investing activities	—			—			(7,766		)	(5,609		)	—			(13,375		)
	Cash Flows from Financing Activities:
	Proceeds from issuance of long-term debt	—			232,500			219			—			—			232,719
	Repayments of long-term debt	—			(108,500		)	(39		)	(486		)	—			(109,025		)
	Debt issuance costs	—			(3,888		)	—			—			—			(3,888		)
	Repurchases of common stock	(66,183		)	—			—			—			—			(66,183		)
	Proceeds from exercises of stock options	7,319			—			—			—			—			7,319
	Excess tax benefit from share-based compensation	2,985			—			—			—			—			2,985
	Net cash (used) provided by financing activities	(55,879		)	120,112			180			(486		)	—			63,927
	Effect of foreign exchange rate changes on cash and cash equivalents	—			—			—			153			—			153
	Net increase in cash and cash equivalents	—			79,001			26,788			5,020			—			110,809
	Cash and cash equivalents, beginning of period	—			—			16,337			30,778			—			47,115
	Cash and cash equivalents, end of period	$	—		$	79,001		$	43,125		$	35,798		$	—		$	157,924

Fair_Value_Measurements_Detail

Fair Value Measurements (Details) (USD $)	Dec. 31, 2014	Sep. 30, 2014
In Thousands, unless otherwise specified
Liabilities
Long-term debt, amortized cost	$1,810,992	$1,811,641
Fair value measurement on recurring basis | Total
Assets
Cash equivalents	107,501	27,000
Total assets	108,785	27,511
Liabilities
Long-term debt	1,893,779	1,874,444
Total liabilities	1,893,782	1,874,491
Fair value measurement on recurring basis | Foreign exchange contracts | Total
Assets
Foreign exchange derivative	1,284	511
Liabilities
Foreign exchange derivative	3	47
Fair value measurement on recurring basis | Level 1
Assets
Cash equivalents	107,501	27,000
Total assets	107,501	27,000
Liabilities
Long-term debt	1,890,000	1,870,250
Total liabilities	1,890,000	1,870,250
Fair value measurement on recurring basis | Level 2
Assets
Total assets	1,284	511
Liabilities
Long-term debt	3,779	4,194
Total liabilities	3,782	4,241
Fair value measurement on recurring basis | Level 2 | Foreign exchange contracts
Assets
Foreign exchange derivative	1,284	511
Liabilities
Foreign exchange derivative	$3	$47

Accumulated_Stockholders_Equit1

Accumulated Stockholders' Equity (Deficit) (Details) (USD $)	1 Months Ended	3 Months Ended
Share data in Millions, unless otherwise specified	Aug. 31, 2014	Dec. 31, 2014	Dec. 31, 2013
2014 Share Repurchase Program
Share repurchase program
Amount of shares authorized to be repurchased	$1,000,000,000
Term of share repurchase program	3 years
Common stock shares repurchased and retired (in shares)		0.2
Cost of repurchase and retirement of common stock		7,300,000
2013 Share Repurchase Program
Share repurchase program
Common stock shares repurchased and retired (in shares)			2.4
Cost of repurchase and retirement of common stock			$66,200,000

Accumulated_Stockholders_Equit2

Accumulated Stockholders' Equity (Deficit) (Details 2) (USD $)	3 Months Ended	12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014
Accumulated Stockholders' Equity (Deficit)
Accumulated other comprehensive loss	($45,849,000)	($28,548,000)
Foreign currency translation adjustments
Accumulated Stockholders' Equity (Deficit)
Accumulated other comprehensive loss	45,800,000	28,500,000
Income taxes on accumulated other comprehensive loss	$2,300,000	$2,300,000

Earnings_Per_Share_Details

Earnings Per Share (Details) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Net earnings	$54,909	$57,995
Total weighted average basic shares	156,104,000	163,603,000
Dilutive securities:
Stock options and stock award programs (in shares)	2,441,000	4,152,000
Total weighted average diluted shares	158,545,000	167,755,000
Earnings per share:
Basic (in dollars per share)	$0.35	$0.35
Diluted (in dollars per share)	$0.35	$0.35
Common stock potentially outstanding but not included in the computation of diluted earnings per share
Options to purchase shares not included in the computation of diluted earnings per share since the options were anti-dilutive (in shares)	1,259,204	1,462,543

ShareBased_Payments_Details

Share-Based Payments (Details) (USD $)	3 Months Ended		12 Months Ended
Share data in Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Sep. 30, 2014
Share-Based Payments
Accelerated expense related to certain retirement eligible employees (in dollars)	$4,800,000	5,300,000
Share-based compensation expense (in dollars)	7,760,000	8,522,000
Income tax benefit related to share-based compensation expense (in dollars)	2,918,000	3,181,000
Stock Option Awards
Share-Based Payments
Vesting period	4 years
Stock Options, Number of Outstanding Options
Outstanding at the beginning of the period (in shares)	8,983
Granted (in shares)	1,132	1,500
Exercised (in shares)	-3,265
Forfeited or expired (in shares)	-33
Outstanding at the end of the period (in shares)	6,817		8,983
Exercisable at the end of the period (in shares)	3,405
Stock Options, Additional Information
Outstanding at the beginning of the period (in dollars per share)	$15.93
Granted (in dollars per share)	$29.20
Exercised (in dollars per share)	$11.38
Forfeited or expired (in dollars per share)	$22.64
Outstanding at the end of the period (in dollars per share)	$20.28		$15.93
Exercisable at the end of the period (in dollars per share)	$14.78
Outstanding at the beginning of the period	7 years 1 month 6 days		6 years 2 months 12 days
Outstanding at the end of the period	7 years 1 month 6 days		6 years 2 months 12 days
Exercisable at the end of the period	5 years 6 months
Outstanding at the beginning of the period (in dollars)	102,751,000
Outstanding at the end of the period (in dollars)	71,282,000		102,751,000
Exercisable at the end of the period (in dollars)	$54,366,000
Stock Option Awards | Maximum
Share-Based Payments
Term of stock options	10 years

ShareBased_Payments_Details_2

Share-Based Payments (Details 2) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2014
Options Outstanding
Range of Exercise Prices, Number Outstanding (in shares)	6,817
Range of Exercise Prices, Weighted Average Remaining Contractual Term	7 years 1 month 6 days
Range of Exercise Prices, Weighted Average Exercise Price (in dollars per share)	$20.28
Options Exercisable
Range of Exercise Prices, Number Exercisable (in shares)	3,405
Range of Exercise Prices, Weighted Average Exercise Price (in dollars per share)	$14.78
Range of Exercise Prices $2.00 - 19.99
Information about stock options under option plans
Lower Range of Exercise Prices (in dollars per share)	$2
Upper Range of Exercise Prices (in dollars per share)	$19.99
Options Outstanding
Range of Exercise Prices, Number Outstanding (in shares)	3,026
Range of Exercise Prices, Weighted Average Remaining Contractual Term	5 years
Range of Exercise Prices, Weighted Average Exercise Price (in dollars per share)	$12.79
Options Exercisable
Range of Exercise Prices, Number Exercisable (in shares)	2,617
Range of Exercise Prices, Weighted Average Exercise Price (in dollars per share)	$11.78
Range of Exercise Prices $20.00 - 29.20
Information about stock options under option plans
Lower Range of Exercise Prices (in dollars per share)	$20
Upper Range of Exercise Prices (in dollars per share)	$29.20
Options Outstanding
Range of Exercise Prices, Number Outstanding (in shares)	3,791
Range of Exercise Prices, Weighted Average Remaining Contractual Term	8 years 8 months 12 days
Range of Exercise Prices, Weighted Average Exercise Price (in dollars per share)	$26.27
Options Exercisable
Range of Exercise Prices, Number Exercisable (in shares)	788
Range of Exercise Prices, Weighted Average Exercise Price (in dollars per share)	$24.70

ShareBased_Payments_Details_3

Share-Based Payments (Details 3) (USD $)	3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Stock option disclosures
Cash received from option exercised	$37,156,000	$7,319,000
Stock Option Awards
Weighted average assumptions relating to the valuation of stock options
Expected life	5 years	5 years
Expected volatility (as a percent)	31.00%	48.40%
Risk-free interest rate (as a percent)	1.60%	1.30%
Dividend yield (as a percent)	0.00%	0.00%
Stock option disclosures
Weighted average fair value of the stock options issued (in dollars per share)	$8.77	$11.32
Total intrinsic value of options exercised	61,500,000
Cash received from option exercised	37,200,000
Tax benefit realized for the tax deductions of stock option exercises	23,400,000
Total unrecognized compensation costs related to unvested stock option awards	$18,000,000
Weighted average period for recognition of unvested awards	2 years 7 months 6 days

ShareBased_Payments_Details_4

Share-Based Payments (Details 4) (USD $)	3 Months Ended		12 Months Ended
In Millions, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Sep. 30, 2014
Restricted Stock Awards
Summary of the activity for restricted stock awards/restricted stock units, Number of Shares
Unvested at the beginning of the period (in shares)	436,000
Granted (in shares)	214,000	25,000
Vested (in shares)	-83,000
Unvested at the end of the period (in shares)	567,000		436,000
Restricted stock awards/restricted stock units
Unvested at the beginning of the period (in dollars per share)	$22.42
Granted (in dollars per share)	$29.20
Vested (in dollars per share)	$14.30
Unvested at the end of the period (in dollars per share)	$26.16		$22.42
Weighted average remaining vesting term	3 years 2 months 12 days		3 years 4 months 24 days
Total unrecognized compensation costs	$6.80
Weighted average period for recognition of unvested restricted awards	3 years 2 months 12 days
Restricted Stock Awards | Minimum
Stock Awards
Vesting period	4 years
Restricted Stock Awards | Maximum
Stock Awards
Vesting period	5 years
Restricted Stock Units
Stock Awards
Vesting period	1 year
Summary of the activity for restricted stock awards/restricted stock units, Number of Shares
Granted (in shares)	20,000	27,000
Unvested at the end of the period (in shares)	20,000
Restricted stock awards/restricted stock units
Granted (in dollars per share)	$29.20
Unvested at the end of the period (in dollars per share)	$29.20
Weighted average remaining vesting term	9 months 18 days
Total unrecognized compensation costs	$0.50
Weighted average period for recognition of unvested restricted awards	9 months 18 days
Restricted stock units, retention period	6 months
Restricted Stock Units | Maximum
Stock Awards
Vesting period	1 year

Commitments_and_Contingencies1

Commitments and Contingencies (Data Security Incident, USD $)	3 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2014
Data Security Incident
Commitments and contingencies
Professional advisory and legal costs included in selling, general and administrative expenses	$0.20

Recovered_Sheet1

Short-term Borrowings and Long-term Debt (Details) (USD $)	3 Months Ended		12 Months Ended	0 Months Ended	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Sep. 30, 2012	Oct. 29, 2013	Sep. 30, 2011	Sep. 30, 2014	Nov. 30, 2006	Jul. 31, 2013
Debt Instruments
Total	$1,807,264,000
Capital lease obligations	3,728,000
Less: current portion	888,000					974,000
Total long-term debt	1,810,104,000					1,810,667,000
Aggregate principal amount of debt retired			1,391,900,000
Net proceeds from debt issuance		232,719,000
Borrowings repaid	258,000	109,025,000
Sally Investment Holdings LLC and Sally Holdings, LLC
Debt Instruments
Debt Instrument, Face Amount							1,850,000,000
ABL facility
Debt Instruments
Revolving credit facility								500,000,000
Remaining credit facility available	478,100,000
Commitment fee for line of credit facility (as a percent)	0.25%
Borrowings repaid				88,500,000
ABL facility | Prime | Minimum
Debt Instruments
Percentage points added to the reference rate	0.50%
ABL facility | Prime | Maximum
Debt Instruments
Percentage points added to the reference rate	0.75%
ABL facility | LIBOR | Minimum
Debt Instruments
Percentage points added to the reference rate	1.50%
ABL facility | LIBOR | Maximum
Debt Instruments
Percentage points added to the reference rate	1.75%
ABL facility | Sally Holdings, LLC
Debt Instruments
Revolving credit facility					400,000,000
Line of Credit Facility Term					5 years
Canadian sub-facility
Debt Instruments
Revolving credit facility					25,000,000
Senior notes due Nov. 2019
Debt Instruments
Total	750,000,000
Interest rate (as a percent)	6.88%		6.88%
Debt Instrument, Face Amount			750,000,000
Senior notes due Jun. 2022
Debt Instruments
Total	857,213,000
Interest rate (as a percent)	5.75%		5.75%
Debt Instrument, Face Amount			850,000,000
Senior notes due Jun. 2022 | Maximum
Debt Instruments
Maximum percentage of original principal amount that can be redeemed from specified proceeds	35.00%
Senior notes due 2022 issued for $150 million
Debt Instruments
Unamortized premium	7,200,000
Debt Instrument, Face Amount	150,000,000		150,000,000
Senior notes due 2022 issued for $850 million
Debt Instruments
Interest rate (as a percent)	5.75%
Debt Instrument, Face Amount	850,000,000
Senior notes due Nov. 2023
Debt Instruments
Total	200,000,000
Interest rate (as a percent)	5.50%			5.50%
Debt Instrument, Face Amount				200,000,000
Net proceeds from debt issuance				196,300,000
Maximum percentage of original principal amount that can be redeemed from specified proceeds	35.00%
Other, due Jun. 2015
Debt Instruments
Total	$51,000
Interest rate (as a percent)	5.79%

Recovered_Sheet2

Short-term Borrowings and Long-term Debt (Details 2) (USD $)	3 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2013	Jul. 31, 2013
Fiscal Year:
2015	$51,000
2019	750,000,000
Thereafter	1,057,213,000
Total	1,807,264,000
Capital lease obligations	3,728,000
Less: current portion	888,000	974,000
Total long-term debt	1,810,104,000	1,810,667,000
Cash and cash equivalents	190,681,000	106,575,000	157,924,000	47,115,000
ABL facility
Fiscal Year:
Secured Leverage Ratio, threshold	4
Minimum borrowing availability	40,000,000
Percentage of borrowing base	10.00%
Consolidated Fixed-Charge Coverage Ratio, threshold	1
Consolidated Fixed-Charge Coverage Ratio	3.4
Revolving credit facility borrowing availability					500,000,000
ABL facility | Maximum
Fiscal Year:
Secured Leverage Ratio	0.1
ABL facility | Restricted payments up to $30.0 million
Fiscal Year:
Restricted payments	30,000,000
Minimum borrowing availability	75,000,000
Percentage of borrowing base	15.00%
Period prior to payments of dividends and other equity distributions up to certain thresholds under the terms of the credit facility must be met	45 days
ABL facility | Restricted payments in excess of $30.0 million
Fiscal Year:
Minimum borrowing availability	100,000,000
Percentage of borrowing base	20.00%
Period prior to payments of dividends and other equity distributions up to certain thresholds under the terms of the credit facility must be met	45 days
Consolidated Fixed-Charge Coverage Ratio, threshold	1.1
Revolving credit facility borrowing availability	150,000,000
Percentage of lesser of $150.0 million or borrowing base, considered for applicability of Consolidated Fixed Charge Coverage Ratio	0.3
Trailing period preceding proposed Restricted Payment	12 months
Senior notes due 2019, 2022 and 2023
Fiscal Year:
Consolidated Coverage Ratio, threshold	2
Consolidated Coverage Ratio	5.5
Number of consecutive fiscal quarters	4
Percentage of Sally Holdings and its subsidiaries cumulative consolidated net earnings	50.00%
Consolidated Total Leverage Ratio, threshold	3.25
Consolidated Total Leverage Ratio	2.8
Senior notes due 2019, 2022 and 2023 | Maximum
Fiscal Year:
Cash and cash equivalents	$100,000,000

Derivative_Instruments_and_Hed2

Derivative Instruments and Hedging Activities (Details)

Dec. 31, 2014

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2014

Dec. 31, 2014

Dec. 31, 2014

Dec. 31, 2014

Dec. 31, 2014

Dec. 31, 2014

Dec. 31, 2014

Dec. 31, 2014

Dec. 31, 2014

Dec. 31, 2014

Dec. 31, 2014

Dec. 31, 2014

Dec. 31, 2014

Dec. 31, 2014

Dec. 31, 2014

Dec. 31, 2014

derivative

Foreign exchange contracts

Foreign exchange contracts

USD:UKPounds

USD:UKPounds

USD:UKPounds

USD:UKPounds

USD:EUR

USD:EUR

USD:EUR

USD:EUR

USD:CAD

USD:CAD

CAD:USD

CAD:USD

USD:MXN

USD:MXN

UKPounds:EUR

UKPounds:EUR

USD ($)

USD ($)

Foreign exchange contracts

Foreign exchange contracts

Foreign exchange contracts

Foreign exchange contracts

Foreign exchange contracts

Foreign exchange contracts

Foreign exchange contracts

Foreign exchange contracts

Foreign exchange contracts

Foreign exchange contracts

Foreign exchange contracts

Foreign exchange contracts

Foreign exchange contracts

Foreign exchange contracts

Foreign exchange contracts

Foreign exchange contracts

Sale

Sale

Purchase

Purchase

Sale

Sale

Sale

Sale

Sale

Sale

Purchase

Purchase

Sale

Sale

Derivatives not designated as hedging instruments

Derivatives not designated as hedging instruments

Derivatives not designated as hedging instruments

Derivatives not designated as hedging instruments

Derivatives not designated as hedging instruments

Derivatives not designated as hedging instruments

Derivatives not designated as hedging instruments

Derivatives not designated as hedging instruments

Derivatives not designated as hedging instruments

Derivatives not designated as hedging instruments

Derivatives not designated as hedging instruments

Derivatives not designated as hedging instruments

Derivatives not designated as hedging instruments

Derivatives not designated as hedging instruments

Derivatives not designated as hedging instruments

Derivatives not designated as hedging instruments

Cash flow hedges resulting from the sale of products and services among European subsidiaries

Cash flow hedges resulting from the sale of products and services among European subsidiaries

Cash flow hedges to manage exposure of international subsidiaries purchases

Cash flow hedges to manage exposure of international subsidiaries purchases

Cash flow hedges in connection with intercompany balances

Cash flow hedges in connection with intercompany balances

Cash flow hedges to manage exposure of international subsidiaries purchases

Cash flow hedges to manage exposure of international subsidiaries purchases

Cash flow hedges in connection with intercompany balances

Cash flow hedges in connection with intercompany balances

Cash flow hedges in connection with intercompany balances

Cash flow hedges in connection with intercompany balances

Cash flow hedges in connection with intercompany balances

Cash flow hedges in connection with intercompany balances

Cash flow hedges in connection with intercompany balances

Cash flow hedges in connection with intercompany balances

USD ($)

GBP (£)

USD ($)

GBP (£)

USD ($)

GBP (£)

USD ($)

EUR (€)

USD ($)

EUR (€)

USD ($)

CAD

USD ($)

CAD

USD ($)

MXN

Derivative Instruments

Notional amount

$7,600,000

£ 4,900,000

$1,800,000

£ 1,100,000

$10,600,000

€ 8,800,000

$21,900,000

€ 18,100,000

$4,500,000

5,200,000

$13,400,000

15,600,000

$2,100,000

30,700,000

$3,500,000

£ 2,300,000

Designated Cash Flow Hedges

Number of derivative instruments held

0

Non-designated Cash Flow Hedges

Contractual exchange rate (as a percent)

1.5511

1.5511

1.2183

1.2183

1.1621

1.1621

1.1664

1.1664

14.779

14.779

Net gains (losses) included in selling, general and administrative expenses

$1,504,000

($858,000)

Weighted average contractual exchange rate for buy contracts (as a percent)

1.6268

1.6268

1.2908

1.2908

0.7984

0.7984

Derivative_Instruments_and_Hed3

Derivative Instruments and Hedging Activities (Details 2) (USD $)	Dec. 31, 2014	Sep. 30, 2014
In Thousands, unless otherwise specified
Derivatives Not Designated as Hedging Instruments
Total derivatives not designated as hedging instruments, Asset	$1,284	$511
Total derivatives not designated as hedging instruments, Liability	3	47
Other current assets
Derivatives Not Designated as Hedging Instruments
Foreign Exchange Contracts, Asset	1,284	511
Accrued liabilities
Derivatives Not Designated as Hedging Instruments
Foreign Exchange Contracts, Liability	$3	$47

Derivative_Instruments_and_Hed4

Derivative Instruments and Hedging Activities (Details 3) (USD $)	3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Derivatives Designated as Hedging Instruments
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	$0
Credit-risk-related Contingent Features
Probable loss on counterparty defaults	0
Foreign exchange contracts
Derivatives Not Designated as Hedging Instruments
Amount of Gain or (Loss) Recognized in Income on Derivatives, Foreign Exchange Contracts	1,504,000	-858,000
Credit-risk-related Contingent Features
Aggregate maximum fair value of all foreign exchange contracts held in a liability position	$100,000

Business_Segments_Details

Business Segments (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
	segment
Business Segments
Number of operating segments	2
Net sales:
Total net sales	$964,468	$940,464
Segment operating profit:
Total segment operating profit	116,236	121,793
Share-based compensation expense	-7,760	-8,522
Interest expense	-29,241	-28,489
Earnings before provision for income taxes	86,995	93,304
Operating segments
Segment operating profit:
Total segment operating profit	157,768	158,377
Corporate
Segment operating profit:
Unallocated expenses	-33,772	-28,062
Sally Beauty Supply
Net sales:
Total net sales	586,519	573,355
Sally Beauty Supply | Operating segments
Segment operating profit:
Total segment operating profit	101,179	103,543
Beauty Systems Group
Net sales:
Total net sales	377,949	367,109
Beauty Systems Group | Operating segments
Segment operating profit:
Total segment operating profit	$56,589	$54,834

Parent_Issuers_Guarantor_and_N2

Parent, Issuers, Guarantor and Non-Guarantor Condensed Consolidated Financial Statements (Details) (USD $)	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2013
In Thousands, unless otherwise specified
Parent, Issuers, Guarantor and Non-Guarantor Condensed Consolidated Financial Statements
Percentage of guarantor subsidiaries owned by parent	100.00%
Assets
Cash and cash equivalents	$190,681	$106,575	$157,924	$47,115
Trade and other accounts receivable, less allowance for doubtful accounts	87,651	98,500
Inventory	837,822	828,429
Other current assets	35,868	38,995
Deferred income tax assets, net	31,746	31,650
Property and equipment, net	236,678	238,111
Goodwill and other intangible assets, net	641,001	651,085
Other assets	35,587	36,628
Total assets	2,097,034	2,029,973
Liabilities and Stockholders' (Deficit) Equity
Accounts payable	264,773	259,463
Accrued liabilities	160,630	198,769
Income taxes payable	3,724	4,331
Long-term debt	1,810,992	1,811,641
Other liabilities	28,903	27,848
Deferred income tax liabilities, net	83,568	74,974
Total liabilities	2,352,590	2,377,026
Total stockholders' (deficit) equity	-255,556	-347,053
Total liabilities and stockholders' deficit	2,097,034	2,029,973
Reportable Legal Entities | Parent
Assets
Trade and other accounts receivable, less allowance for doubtful accounts		2
Other current assets	5,448	7,935
Deferred income tax assets, net	-213	-213
Property and equipment, net	1	1
Investment in subsidiaries	510,580	471,320
Total assets	515,816	479,045
Liabilities and Stockholders' (Deficit) Equity
Accounts payable	6
Due to affiliates	772,232	826,819
Accrued liabilities	559	691
Deferred income tax liabilities, net	-1,425	-1,412
Total liabilities	771,372	826,098
Total stockholders' (deficit) equity	-255,556	-347,053
Total liabilities and stockholders' deficit	515,816	479,045
Reportable Legal Entities | Sally Holdings LLC and Sally Capital Inc.
Assets
Cash and cash equivalents	107,501	27,000	79,001
Other current assets	1,251	452
Deferred income tax assets, net	1	1
Investment in subsidiaries	2,892,899	2,835,722
Other assets	27,751	28,931
Total assets	3,029,403	2,892,106
Liabilities and Stockholders' (Deficit) Equity
Due to affiliates	697,914	571,847
Accrued liabilities	12,876	40,751
Income taxes payable	1,120	1,051
Long-term debt	1,807,213	1,807,447
Deferred income tax liabilities, net	-300	-310
Total liabilities	2,518,823	2,420,786
Total stockholders' (deficit) equity	510,580	471,320
Total liabilities and stockholders' deficit	3,029,403	2,892,106
Reportable Legal Entities | Guarantor Subsidiaries
Assets
Cash and cash equivalents	40,440	40,042	43,125	16,337
Trade and other accounts receivable, less allowance for doubtful accounts	58,231	63,009
Due from affiliates	1,540,318	1,464,752
Inventory	641,006	631,786
Other current assets	13,115	15,016
Deferred income tax assets, net	30,527	30,527
Property and equipment, net	158,962	158,402
Investment in subsidiaries	380,787	392,270
Goodwill and other intangible assets, net	472,901	476,113
Other assets	1,610	1,625
Total assets	3,337,897	3,273,542
Liabilities and Stockholders' (Deficit) Equity
Accounts payable	207,454	202,743
Due to affiliates	447	27
Accrued liabilities	122,182	129,791
Income taxes payable	1	1
Long-term debt	223	267
Other liabilities	26,069	25,020
Deferred income tax liabilities, net	88,622	79,971
Total liabilities	444,998	437,820
Total stockholders' (deficit) equity	2,892,899	2,835,722
Total liabilities and stockholders' deficit	3,337,897	3,273,542
Reportable Legal Entities | Non-Guarantor Subsidiaries
Assets
Cash and cash equivalents	42,740	39,533	35,798	30,778
Trade and other accounts receivable, less allowance for doubtful accounts	29,420	35,489
Due from affiliates	447	27
Inventory	196,816	196,643
Other current assets	16,054	15,592
Deferred income tax assets, net	1,431	1,335
Property and equipment, net	77,715	79,708
Goodwill and other intangible assets, net	168,100	174,972
Other assets	6,226	6,072
Total assets	538,949	549,371
Liabilities and Stockholders' (Deficit) Equity
Accounts payable	57,313	56,720
Due to affiliates	70,172	66,086
Accrued liabilities	25,013	27,536
Income taxes payable	2,603	3,279
Long-term debt	3,556	3,927
Other liabilities	2,834	2,828
Deferred income tax liabilities, net	-3,329	-3,275
Total liabilities	158,162	157,101
Total stockholders' (deficit) equity	380,787	392,270
Total liabilities and stockholders' deficit	538,949	549,371
Consolidating Eliminations
Assets
Due from affiliates	-1,540,765	-1,464,779
Investment in subsidiaries	-3,784,266	-3,699,312
Total assets	-5,325,031	-5,164,091
Liabilities and Stockholders' (Deficit) Equity
Due to affiliates	-1,540,765	-1,464,779
Total liabilities	-1,540,765	-1,464,779
Total stockholders' (deficit) equity	-3,784,266	-3,699,312
Total liabilities and stockholders' deficit	($5,325,031)	($5,164,091)

Parent_Issuers_Guarantor_and_N3

Parent, Issuers, Guarantor and Non-Guarantor Condensed Consolidated Financial Statements (Details 2) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Condensed Consolidating Statement of Earnings
Net sales	$964,468	$940,464
Cost of products sold and distribution expenses	490,699	479,938
Gross profit	473,769	460,526
Selling, general and administrative expenses	336,954	319,478
Depreciation and amortization	20,579	19,255
Operating earnings	116,236	121,793
Interest expense	29,241	28,489
Earnings before provision for income taxes	86,995	93,304
Provision (benefit) for income taxes	32,086	35,309
Net earnings	54,909	57,995
Other comprehensive income (loss), net of tax	-17,301	2,567
Total comprehensive income	37,608	60,562
Reportable Legal Entities | Parent
Condensed Consolidating Statement of Earnings
Selling, general and administrative expenses	2,376	2,463
Operating earnings	-2,376	-2,463
Earnings before provision for income taxes	-2,376	-2,463
Provision (benefit) for income taxes	-724	-932
Equity in earnings of subsidiaries, net of tax	56,561	59,526
Net earnings	54,909	57,995
Total comprehensive income	54,909	57,995
Reportable Legal Entities | Sally Holdings LLC and Sally Capital Inc.
Condensed Consolidating Statement of Earnings
Selling, general and administrative expenses	104	112
Operating earnings	-104	-112
Interest expense	29,193	28,425
Earnings before provision for income taxes	-29,297	-28,537
Provision (benefit) for income taxes	-11,379	-11,080
Equity in earnings of subsidiaries, net of tax	74,479	76,983
Net earnings	56,561	59,526
Total comprehensive income	56,561	59,526
Reportable Legal Entities | Guarantor Subsidiaries
Condensed Consolidating Statement of Earnings
Net sales	767,923	743,276
Related party sales	767	803
Cost of products sold and distribution expenses	386,816	374,681
Gross profit	381,874	369,398
Selling, general and administrative expenses	257,786	241,881
Depreciation and amortization	14,854	13,870
Operating earnings	109,234	113,647
Interest expense	2	1
Earnings before provision for income taxes	109,232	113,646
Provision (benefit) for income taxes	40,872	43,980
Equity in earnings of subsidiaries, net of tax	6,119	7,317
Net earnings	74,479	76,983
Total comprehensive income	74,479	76,983
Reportable Legal Entities | Non-Guarantor Subsidiaries
Condensed Consolidating Statement of Earnings
Net sales	196,545	197,188
Cost of products sold and distribution expenses	104,650	106,060
Gross profit	91,895	91,128
Selling, general and administrative expenses	76,688	75,022
Depreciation and amortization	5,725	5,385
Operating earnings	9,482	10,721
Interest expense	46	63
Earnings before provision for income taxes	9,436	10,658
Provision (benefit) for income taxes	3,317	3,341
Net earnings	6,119	7,317
Other comprehensive income (loss), net of tax	-17,301	2,567
Total comprehensive income	-11,182	9,884
Consolidating Eliminations
Condensed Consolidating Statement of Earnings
Related party sales	-767	-803
Cost of products sold and distribution expenses	-767	-803
Equity in earnings of subsidiaries, net of tax	-137,159	-143,826
Net earnings	-137,159	-143,826
Total comprehensive income	($137,159)	($143,826)

Parent_Issuers_Guarantor_and_N4

Parent, Issuers, Guarantor and Non-Guarantor Condensed Consolidated Financial Statements (Details 3) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Condensed Consolidating Statement of Cash Flows
Net cash (used) provided by operating activities	$57,036	$60,104
Cash Flows from Investing Activities:
Capital expenditures, net of proceeds from sale of property and equipment	-18,800	-13,375
Net cash used by investing activities	-18,800	-13,375
Cash Flows from Financing Activities:
Proceeds from issuances of long-term debt		232,719
Repayments of long-term debt	-258	-109,025
Debt issuance costs		-3,888
Repurchases of common stock	-7,253	-66,183
Proceeds from exercises of stock options	37,156	7,319
Excess tax benefit from share-based compensation	17,043	2,985
Net cash provided by financing activities	46,688	63,927
Effect of foreign exchange rate changes on cash and cash equivalents	-818	153
Net increase in cash and cash equivalents	84,106	110,809
Cash and cash equivalents, beginning of period	106,575	47,115
Cash and cash equivalents, end of period	190,681	157,924
Reportable Legal Entities | Parent
Condensed Consolidating Statement of Cash Flows
Net cash (used) provided by operating activities	-46,946	55,879
Cash Flows from Financing Activities:
Repurchases of common stock	-7,253	-66,183
Proceeds from exercises of stock options	37,156	7,319
Excess tax benefit from share-based compensation	17,043	2,985
Net cash provided by financing activities	46,946	-55,879
Reportable Legal Entities | Sally Holdings LLC and Sally Capital Inc.
Condensed Consolidating Statement of Cash Flows
Net cash (used) provided by operating activities	80,501	-41,111
Cash Flows from Financing Activities:
Proceeds from issuances of long-term debt		232,500
Repayments of long-term debt		-108,500
Debt issuance costs		-3,888
Net cash provided by financing activities		120,112
Net increase in cash and cash equivalents	80,501	79,001
Cash and cash equivalents, beginning of period	27,000
Cash and cash equivalents, end of period	107,501	79,001
Reportable Legal Entities | Guarantor Subsidiaries
Condensed Consolidating Statement of Cash Flows
Net cash (used) provided by operating activities	12,356	34,374
Cash Flows from Investing Activities:
Capital expenditures, net of proceeds from sale of property and equipment	-11,915	-7,766
Net cash used by investing activities	-11,915	-7,766
Cash Flows from Financing Activities:
Proceeds from issuances of long-term debt		219
Repayments of long-term debt	-43	-39
Net cash provided by financing activities	-43	180
Net increase in cash and cash equivalents	398	26,788
Cash and cash equivalents, beginning of period	40,042	16,337
Cash and cash equivalents, end of period	40,440	43,125
Reportable Legal Entities | Non-Guarantor Subsidiaries
Condensed Consolidating Statement of Cash Flows
Net cash (used) provided by operating activities	11,125	10,962
Cash Flows from Investing Activities:
Capital expenditures, net of proceeds from sale of property and equipment	-6,885	-5,609
Net cash used by investing activities	-6,885	-5,609
Cash Flows from Financing Activities:
Repayments of long-term debt	-215	-486
Net cash provided by financing activities	-215	-486
Effect of foreign exchange rate changes on cash and cash equivalents	-818	153
Net increase in cash and cash equivalents	3,207	5,020
Cash and cash equivalents, beginning of period	39,533	30,778
Cash and cash equivalents, end of period	$42,740	$35,798