Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2020 | Oct. 26, 2020 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2020 | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity File Number | 001-33767 | |
Entity Registrant Name | Lumber Liquidators Holdings, Inc. | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 27-1310817 | |
Entity Address, Address Line One | 4901 Bakers Mill Lane | |
Entity Address, City or Town | Richmond | |
Entity Address, State or Province | VA | |
Entity Address, Postal Zip Code | 23230 | |
City Area Code | 804 | |
Local Phone Number | 463-2000 | |
Title of 12(b) Security | Common Stock | |
Trading Symbol | LL | |
Security Exchange Name | NYSE | |
Entity Interactive Data Current | Yes | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q3 | |
Entity Central Index Key | 0001396033 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 28,874,709 | |
Entity Current Reporting Status | Yes |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Current Assets: | ||
Cash and Cash Equivalents | $ 199,347 | $ 8,993 |
Merchandise Inventories | 237,440 | 286,369 |
Prepaid Expenses | 7,940 | 8,288 |
Deposit for Legal Settlement | 21,500 | 21,500 |
Tariff Recovery Receivable | 7,516 | 27,025 |
Other Current Assets | 6,950 | 6,938 |
Total Current Assets | 480,693 | 359,113 |
Property and Equipment, net | 94,202 | 98,733 |
Operating Lease Right-of-Use Assets | 114,552 | 121,796 |
Goodwill | 9,693 | 9,693 |
Other Assets | 7,887 | 6,674 |
Total Assets | 707,027 | 596,009 |
Current Liabilities: | ||
Accounts Payable | 90,194 | 59,827 |
Customer Deposits and Store Credits | 63,736 | 41,571 |
Accrued Compensation | 14,272 | 11,742 |
Sales and Income Tax Liabilities | 5,997 | 7,225 |
Accrual for Legal Matters and Settlements - Current | 64,751 | 67,471 |
Operating Lease Liabilities - Current | 35,341 | 31,333 |
Other Current Liabilities | 24,305 | 18,937 |
Total Current Liabilities | 298,596 | 238,106 |
Other Long-Term Liabilities | 17,426 | 13,757 |
Operating Lease Liabilities - Long-Term | 95,046 | 100,470 |
Deferred Tax Liability | 973 | 426 |
Credit Agreement | 101,000 | 82,000 |
Total Liabilities | 513,041 | 434,759 |
Stockholders' Equity: | ||
Common Stock ($0.001 par value; 35,000 shares authorized; 30,184 and 29,959 shares issued and 28,871 and 28,714 shares outstanding, respectively) | 30 | 30 |
Treasury Stock, at cost (1,313 and 1,245 shares, respectively) | (142,827) | (142,314) |
Additional Capital | 220,969 | 218,616 |
Retained Earnings | 116,875 | 86,498 |
Accumulated Other Comprehensive Loss | (1,061) | (1,580) |
Total Stockholders' Equity | 193,986 | 161,250 |
Total Liabilities and Stockholders' Equity | $ 707,027 | $ 596,009 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Statement Of Financial Position [Abstract] | ||
Common Stock, par value | $ 0.001 | $ 0.001 |
Common Stock, shares authorized | 35,000 | 35,000 |
Common Stock, shares, issued | 30,184 | 29,959 |
Common Stock, shares outstanding | 28,871 | 28,714 |
Treasury Stock, shares | 1,313 | 1,245 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Net Sales | $ 295,833 | $ 263,960 | $ 793,491 | $ 818,748 |
Cost of Sales | 179,307 | 168,286 | 483,702 | 526,976 |
Gross Profit | 116,526 | 95,674 | 309,789 | 291,772 |
Selling, General and Administrative Expenses | 93,374 | 93,495 | 271,869 | 294,392 |
Operating Income (Loss) | 23,152 | 2,179 | 37,920 | (2,620) |
Other Expense | 685 | 909 | 2,709 | 3,265 |
Income (Loss) Before Income Taxes | 22,467 | 1,270 | 35,211 | (5,885) |
Income Tax Expense (Benefit) | 6,964 | 225 | 4,834 | 850 |
Net Income (Loss) | $ 15,503 | $ 1,045 | $ 30,377 | $ (6,735) |
Net Income (Loss) per Common Share-Basic | $ 0.54 | $ 0.04 | $ 1.05 | $ (0.23) |
Net Income (Loss) per Common Share-Diluted | $ 0.53 | $ 0.04 | $ 1.04 | $ (0.23) |
Weighted Average Common Shares Outstanding: | ||||
Basic | 28,859 | 28,706 | 28,801 | 28,681 |
Diluted | 29,334 | 28,786 | 29,075 | 28,681 |
Net Merchandise Sales | ||||
Net Sales | $ 261,009 | $ 229,241 | $ 709,845 | $ 717,799 |
Cost of Sales | 152,530 | 142,404 | 419,230 | 451,631 |
Net Services Sales | ||||
Net Sales | 34,824 | 34,719 | 83,646 | 100,949 |
Cost of Sales | $ 26,777 | $ 25,882 | $ 64,472 | $ 75,345 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Statement of Comprehensive Income [Abstract] | ||||
Net Income (Loss) | $ 15,503 | $ 1,045 | $ 30,377 | $ (6,735) |
Other Comprehensive Income (Loss): | ||||
Foreign Currency Translation Adjustments | 247 | (87) | 519 | (279) |
Total Other Comprehensive Income (Loss) | 247 | (87) | 519 | (279) |
Comprehensive Income (Loss) | $ 15,750 | $ 958 | $ 30,896 | $ (7,014) |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands | Common Stock [Member] | Treasury Stock [Member] | Additional Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Total |
Beginning Balance at Dec. 31, 2018 | $ 32 | $ (141,828) | $ 213,744 | $ 76,835 | $ (1,385) | $ 147,398 |
Beginning Balance (in shares) at Dec. 31, 2018 | 28,627 | 2,951 | ||||
Stock-Based Compensation Expense | 3,621 | 3,621 | ||||
Release of Restricted Shares (in shares) | 83 | |||||
Common Stock Repurchased and Transferred | $ (2) | $ (471) | (473) | |||
Common Stock Repurchased and Transferred, (in treasury shares) | (1,708) | |||||
Translation Adjustment | (279) | (279) | ||||
Net Income (Loss) | (6,735) | (6,735) | ||||
Ending Balance at Sep. 30, 2019 | $ 30 | $ (142,299) | 217,365 | 70,100 | (1,664) | 143,532 |
Ending Balance (in shares) at Sep. 30, 2019 | 28,710 | 1,243 | ||||
Beginning Balance at Dec. 31, 2018 | $ 32 | $ (141,828) | 213,744 | 76,835 | (1,385) | $ 147,398 |
Beginning Balance (in shares) at Dec. 31, 2018 | 28,627 | 2,951 | ||||
Common Stock Repurchased (in shares) | 0 | |||||
Ending Balance at Dec. 31, 2019 | $ 30 | $ (142,314) | 218,616 | 86,498 | (1,580) | $ 161,250 |
Ending Balance (in shares) at Dec. 31, 2019 | 28,714 | 1,245 | ||||
Beginning Balance at Jun. 30, 2019 | $ 30 | $ (142,269) | 216,159 | 69,055 | (1,577) | 141,398 |
Beginning Balance (in shares) at Jun. 30, 2019 | 28,701 | 1,239 | ||||
Stock-Based Compensation Expense | 1,206 | 1,206 | ||||
Release of Restricted Shares (in shares) | 9 | |||||
Common Stock Repurchased and Transferred | $ (30) | (30) | ||||
Common Stock Repurchased and Transferred, (in treasury shares) | 4 | |||||
Translation Adjustment | (87) | (87) | ||||
Net Income (Loss) | 1,045 | 1,045 | ||||
Ending Balance at Sep. 30, 2019 | $ 30 | $ (142,299) | 217,365 | 70,100 | (1,664) | 143,532 |
Ending Balance (in shares) at Sep. 30, 2019 | 28,710 | 1,243 | ||||
Beginning Balance at Dec. 31, 2019 | $ 30 | $ (142,314) | 218,616 | 86,498 | (1,580) | 161,250 |
Beginning Balance (in shares) at Dec. 31, 2019 | 28,714 | 1,245 | ||||
Stock-Based Compensation Expense | 2,112 | 2,112 | ||||
Exercise of Stock Options | 241 | 241 | ||||
Exercise of Stock Options (in shares) | 14 | |||||
Release of Restricted Shares (in shares) | 143 | |||||
Common Stock Repurchased | $ (513) | $ (513) | ||||
Common Stock Repurchased (in shares) | 68 | 0 | ||||
Translation Adjustment | 519 | $ 519 | ||||
Net Income (Loss) | 30,377 | 30,377 | ||||
Ending Balance at Sep. 30, 2020 | $ 30 | $ (142,827) | 220,969 | 116,875 | (1,061) | 193,986 |
Ending Balance (in shares) at Sep. 30, 2020 | 28,871 | 1,313 | ||||
Beginning Balance at Jun. 30, 2020 | $ 30 | $ (142,752) | 219,618 | 101,372 | (1,308) | 176,960 |
Beginning Balance (in shares) at Jun. 30, 2020 | 28,852 | 1,309 | ||||
Stock-Based Compensation Expense | 1,146 | 1,146 | ||||
Exercise of Stock Options | 205 | 205 | ||||
Exercise of Stock Options (in shares) | 11 | |||||
Release of Restricted Shares (in shares) | 8 | |||||
Common Stock Repurchased | $ (75) | (75) | ||||
Common Stock Repurchased (in shares) | 4 | |||||
Translation Adjustment | 247 | 247 | ||||
Net Income (Loss) | 15,503 | 15,503 | ||||
Ending Balance at Sep. 30, 2020 | $ 30 | $ (142,827) | $ 220,969 | $ 116,875 | $ (1,061) | $ 193,986 |
Ending Balance (in shares) at Sep. 30, 2020 | 28,871 | 1,313 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Cash Flows from Operating Activities: | |||
Net Income (Loss) | $ 30,377 | $ (6,735) | |
Adjustments to Reconcile Net Income (Loss): | |||
Depreciation and Amortization | 13,327 | 12,903 | |
Deferred Income Taxes Provision | 547 | 106 | |
Stock-Based Compensation Expense | 2,112 | 3,621 | |
Inventory write-down and other inventory adjustments | 2,564 | 724 | |
Impairment of Operating Lease Right-Of-Use | 935 | ||
(Gain) Loss on Disposal of Fixed Assets | (401) | (284) | |
Changes in Operating Assets and Liabilities: | |||
Merchandise Inventories | 46,057 | 9,546 | |
Accounts Payable | 31,308 | (14,186) | |
Customer Deposits and Store Credits | 22,165 | 4,810 | |
Tariff Recovery Receivable | 19,509 | ||
Prepaid Expenses and Other Current Assets | 821 | (3,665) | |
Accrual for Legal Matters and Settlements | 2,183 | 4,575 | |
Payments for Legal Matters and Settlements | (4,903) | (33,725) | |
Deferred Rent Payments | 4,709 | ||
Other Assets and Liabilities | 9,452 | 5,235 | |
Net Cash Provided by (Used in) Operating Activities | 180,762 | (17,075) | |
Cash Flows from Investing Activities: | |||
Purchases of Property and Equipment | (9,822) | (13,523) | |
Other Investing Activities | 949 | 419 | |
Net Cash Used in Investing Activities | (8,873) | (13,104) | |
Cash Flows from Financing Activities: | |||
Borrowings on Credit Agreement | 45,000 | 85,500 | |
Payments on Credit Agreement | (26,000) | (61,000) | |
Other Financing Activities | (506) | (1,104) | |
Net Cash Provided by Financing Activities | 18,494 | 23,396 | |
Effect of Exchange Rates on Cash and Cash Equivalents | (29) | 823 | |
Net Increase in Cash and Cash Equivalents | 190,354 | (5,960) | |
Cash and Cash Equivalents, Beginning of Period | 8,993 | 11,565 | $ 11,565 |
Cash and Cash Equivalents, End of Period | 199,347 | 5,605 | $ 8,993 |
Supplemental disclosure of non-cash operating and financing activities: | |||
Tenant Improvement Allowance for Leases | $ (676) | $ (310) |
Basis of Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2020 | |
Basis of Presentation [Abstract] | |
Basis of Presentation | Note 1. Basis of Presentation Lumber Liquidators Holdings, Inc. and its direct and indirect subsidiaries (collectively and, where applicable, individually, the “Company”) engage in business as a multi-channel specialty retailer of hard-surface flooring, and hard-surface flooring enhancements and accessories, operating as a single operating segment. The Company offers an extensive assortment of exotic and domestic hardwood species, engineered hardwood, laminate, resilient vinyl, waterproof vinyl plank and porcelain tile flooring direct to the consumer. The Company features renewable flooring products, bamboo and cork, and provides a wide selection of flooring enhancements and accessories, including moldings, noise-reducing underlayment, adhesives and flooring tools. The Company also provides in-home delivery and installation services to its customers. The Company primarily sells to homeowners or to contractors on behalf of homeowners through a network of store locations in metropolitan areas. As of September 30, 2020, the Company’s stores spanned 47 states in the United States (“U.S.”) and included eight stores in Canada. In addition to the store locations, the Company’s products may be ordered, and customer questions/concerns addressed, through both its customer relationship center in Richmond, Virginia and its website, LLFlooring.com The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q for interim financial reporting pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). In the opinion of management, all adjustments (consisting of normal and recurring adjustments except those otherwise described herein) considered necessary for a fair presentation have been included in the accompanying condensed consolidated financial statements. However, they do not include all of the information and footnotes required by U.S. generally accepted accounting principles (“GAAP”) for complete financial statements. Therefore, the interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s annual report filed on Form 10-K for the year ended December 31, 2019. The condensed consolidated financial statements of the Company include the accounts of its wholly owned subsidiaries. All intercompany transactions have been eliminated in consolidation. Results of operations for the three and nine months ended September 30, 2020 are not necessarily indicative of future results to be expected for the full year due to a number of factors, including seasonality and general economic conditions that may impact sales for the remainder of fiscal 2020. Impact of the COVID-19 Pandemic In March 2020, the World Health Organization announced that infections of COVID-19 had become a pandemic and the U.S. President announced a National Emergency relating to the COVID-19 pandemic. Starting as of the week of March 22, 2020 the Company closed as many as stores for a period of time while all other stores operated under reduced hours and/or warehouse only conditions, offering curbside pickup and job site delivery for our PRO and DIY customers. By early July, operating by appointment only. During the third quarter of 2020 the Company’s stores remained open except for temporary closures necessitated by local market conditions. Since the onset of COVID-19, the Company leveraged strategic investments in digital capabilities made over the past 24 months, including the Floor Finder and Picture It! tools, to serve customers at LLFlooring.com. Web traffic has increased meaningfully throughout the year. The Company has also expanded availability of online flooring samples and extended hours for voice and click-to-chat customer support, while also continuing to offer curbside store pickup and enhanced home-delivery options. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2020 | |
Summary of Significant Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Note 2. Summary of Significant Accounting Policies Fair Value of Financial Instruments The carrying amounts of financial instruments such as cash and cash equivalents, accounts payable and other liabilities approximate fair value because of the short-term nature of these items. The carrying amount of obligations under the Credit Agreement approximates fair value due to the variable rate of interest. Merchandise Inventories The Company values merchandise inventories at the lower of cost or net realizable value. The method by which amounts are removed from inventory is weighted average cost. All of the hardwood flooring purchased from vendors is either prefinished or unfinished, and in immediate saleable form. The Company relies on a select group of international and domestic suppliers to provide imported flooring products that meet the Company’s specifications. The Company is subject to risks associated with obtaining products from abroad, including disruptions or delays in production, shipments, delivery or processing, including due to the COVID-19 pandemic. While the Company continues to be uncertain as to the full impact of COVID-19 to the supply chain, the Company is executing contingency plans to minimize anticipated and potential disruptions to supply chain, domestic distribution centers and store operations. Included in merchandise inventories are tariff related costs, including Section 301 tariffs. Beginning in September 2018, goods coming from China were subject to a 10% tariff under Section 301, which was increased to 25% in June 2019. On November 7, 2019, the U.S. Trade Representative (“USTR”) granted a retroactive exclusion on certain Click Vinyl and engineered products imported from China. Subsequently, on August 6, 2020, the USTR announced its intention not to extend the exclusion pertaining to those certain flooring products imported from China, and the exclusion expired as of August 7, 2020, which again subjects those products to the Section 301 tariffs. At that time, approximately of the Company’s merchandise receipts originated from China. Approximately are now again subject to the Section 301 tariffs. In addition to alternative country sourcing, the Company has other approaches to mitigate the impact of the tariffs, including partnering with current vendors to lower costs and adjusting its pricing. The Company continues to monitor market pricing and promotional strategies to inform and guide its decisions. As of September 30, 2020, the Company has a Recognition of Net Sales The Company generates revenues primarily by retailing merchandise in the form of hard-surface and porcelain flooring and accessories. Additionally, the Company expands its revenues by offering services to deliver and/or install this merchandise for its customers; it considers these services to be separate performance obligations. The separate performance obligations are detailed on the customer’s invoice(s) and the customer often purchases flooring merchandise without purchasing installation or delivery services. Sales occur through a network of 423 stores, which spanned 47 states including eight stores in Canada, at September 30, 2020. In addition, both the merchandise and services can be ordered through a call center and from the Company’s website, LLFlooring.com Revenue is based on consideration specified in a contract with a customer and excludes any sales incentives from vendors and amounts collected on behalf of third parties. The Company recognizes revenue when it satisfies a performance obligation by transferring control over a product to a customer or performing services for a customer. Revenues from installation and freight services are recognized when the delivery is made or the installation is complete, which approximates the recognition of revenue over time due to the short duration of service provided. The price of the Company’s merchandise and services is specified in the respective contract and detailed on the invoice agreed to with the customer including any discounts. The Company generally requires customers to pay a deposit, equal to approximately half of the retail sales value, when ordering merchandise not regularly carried in a given location or not currently in stock. In addition, the Company generally does not extend credit to its customers with payment due in full at the time the customer takes possession of merchandise or when the service is provided. Customer payments and deposits received in advance of the customer taking possession of the merchandise or receiving the services are recorded as deferred revenues in the accompanying condensed consolidated balance sheet caption “Customer Deposits and Store Credits.” The following table shows the activity in this account for the periods noted: Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Customer Deposits and Store Credits, Beginning Balance $ (55,492) $ (42,888) $ (41,571) $ (40,332) New Deposits (324,726) (281,747) (870,052) (876,010) Recognition of Revenue 295,833 263,960 793,491 818,748 Sales Tax included in Customer Deposits 18,389 15,982 49,932 50,246 Other 2,260 (343) 4,464 2,312 Customer Deposits and Store Credits, Ending Balance $ (63,736) $ (45,036) $ (63,736) $ (45,036) Subject to limitations under the Company’s policy, return of unopened merchandise is accepted for 90 days. Due to the impact of COVID-19, the Company temporarily extended its return policy an additional 60 days starting in March 2020. The amount of revenue recognized for flooring merchandise is adjusted for expected returns, which are estimated based on the Company’s historical data, current sales levels, and forecasted economic trends. The Company uses the expected value method to estimate returns because it has a large number of contracts with similar characteristics. The Company reduces revenue by the amount of expected returns and records it within “Other Current Liabilities” on the condensed consolidated balance sheet. The Company continues to estimate the amount of returns based on historical data. In addition, the Company recognizes a related asset for the right to recover returned merchandise and records it in the “Other Current Assets” caption of the accompanying condensed consolidated balance sheet. This amount was In total, the Company offers hundreds of different flooring products; however, no single flooring product represented a significant portion of its sales mix. By major product category, the Company’s sales mix was as follows: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Manufactured Products 1 $ 135,119 46 % $ 108,825 41 % $ 366,632 46 % $ 337,479 41 % Solid and Engineered Hardwood 80,643 27 % 76,358 29 % 219,444 28 % 241,713 30 % Moldings and Accessories and Other 45,247 15 % 44,058 17 % 123,769 16 % 138,607 17 % Installation and Delivery Services 34,824 12 % 34,719 13 % 83,646 10 % 100,949 12 % Total $ 295,833 100 % $ 263,960 100 % $ 793,491 100 % $ 818,748 100 % 1 Cost of Sales Cost of sales includes the cost of products sold, including tariffs, the cost of installation services, and transportation costs from vendors to the Company’s distribution centers or store locations. It also includes transportation costs from distribution centers to store locations, transportation costs for the delivery of products from store locations to customers, certain costs of quality control procedures, warranty and customer satisfaction costs, inventory adjustments including obsolescence and shrinkage, and costs to produce samples, which are net of vendor allowances. The Company offers a range of limited warranties for the durability of the finish on its prefinished products to its services provided. These limited warranties range from one , with lifetime warranties for certain of the Company’s products. Warranty reserves are based primarily on claims experience, sales history and other considerations, including payments made to satisfy customers for claims not directly related to the warranty on the Company’s products. Warranty costs are recorded in cost of sales. The Company seeks recovery from its vendors and third-party independent contractors of installation services for certain amounts paid. Vendor allowances primarily consist of volume rebates that are earned as a result of attaining certain purchase levels and reimbursement for the cost of producing samples. Vendor allowances are accrued as earned, with those allowances received as a result of attaining certain purchase levels accrued over the incentive period based on estimates of purchases. Volume rebates earned are initially recorded as a reduction in merchandise inventories and a subsequent reduction in cost of sales when the related product is sold. Reimbursement received for the cost of producing samples is recorded as an offset against cost of sales. Recent Accounting Pronouncements Adopted In April 2020, the FASB staff issued a question and answer document (the “Lease Modification Q&A”) focused on the application of lease accounting guidance to lease concessions obtained as a result of the COVID-19 pandemic. Under existing lease guidance, the Company would have to determine, on a lease by lease basis, if a lease concession obtained was a result of a new arrangement reached with the lessor (treated within the lease modification accounting framework) or if a lease concession obtained was under the enforceable rights and obligations within the existing lease agreement (precluded from applying the lease modification accounting framework). The Lease Modification Q&A allows lessees, if certain criteria have been met, to bypass the lease-by-lease analysis, and instead elect to either apply the lease modification accounting framework or not, with such election applied consistently to leases with similar characteristics and similar circumstances. The Company has elected to apply this practical expedient for the period beginning as of April 1, 2020 for those agreements where total payments under the modified lease are substantially the same or less than the original agreement. Included in “Operating Lease Liabilities - Current” on the condensed consolidated balance sheet is the remaining million included in “Operating Lease Liabilities - Long-Term.” The deferred payments will be made over the remainder of the lease term in accordance with each concession agreement. |
Stockholders' Equity
Stockholders' Equity | 9 Months Ended |
Sep. 30, 2020 | |
Stockholders' Equity [Abstract] | |
Stockholders' Equity | Note 3. Stockholders’ Equity Net Income (Loss) per Common Share The following table sets forth the computation of basic and diluted net income (loss) per common share: Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Net Income (Loss) $ 15,503 $ 1,045 $ 30,377 $ (6,735) Weighted Average Common Shares Outstanding—Basic 28,859 28,706 28,801 28,681 Effect of Dilutive Securities: Common Stock Equivalents 475 80 274 — Weighted Average Common Shares Outstanding—Diluted 29,334 28,786 29,075 28,681 Net Income (Loss) per Common Share—Basic $ 0.54 $ 0.04 $ 1.05 $ (0.23) Net Income (Loss) per Common Share—Diluted $ 0.53 $ 0.04 $ 1.04 $ (0.23) The following shares have been excluded from the computation of Weighted Average Common Shares Outstanding—Diluted because the effect would be anti-dilutive: Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Stock Options 112 608 390 612 Restricted Shares 110 243 113 639 Stock Repurchase Program The Company’s board of directors has authorized the repurchase of up to $150 million of the Company’s common stock. At September 30, 2020, the Company had approximately $14.7 million remaining under this authorization. The Company has not repurchased any shares of its common stock under this program in more than three years. |
Stock-Based Compensation
Stock-Based Compensation | 9 Months Ended |
Sep. 30, 2020 | |
Stock-Based Compensation [Abstract] | |
Stock-Based Compensation | Note 4. Stock-based Compensation The following table summarizes share activity related to stock options and restricted stock awards (“RSAs”): Restricted Stock Stock Options Awards Options Outstanding/Nonvested RSAs, January 1, 2020 693 911 Granted 227 469 Options Exercised/RSAs Released (14) (211) Forfeited (332) (262) Options Outstanding/Nonvested RSAs, September 30, 2020 574 907 The Company granted a target of 94,591 performance-based RSAs with a grant date fair value of $0.9 million during the nine months ended September 30, 2020 and a target of 100,281 performance-based RSAs with a grant date fair value of $1.1 million during the nine months ended September 30, 2019. The 2020 performance-based RSAs were awarded to certain members of senior management in connection with the achievement of specific key financial metrics and a relative total shareholder return multiple measured over a three-year period and also vest over a three-year period. The number of 2020 performance-based awards that will ultimately vest is contingent upon the achievement of these key financial metrics and the results of the relative total shareholder return multiple by the end of year three. The 2019 performance-based RSAs were awarded to certain members of senior management in connection with the achievement of specific key financial metrics measured over a two-year period and vest over a period. The number of 2019 performance-based awards that will ultimately vest is contingent upon the achievement of these key financial metrics by the end of year two. The Company assesses the probability of achieving these metrics on a quarterly basis. |
Credit Agreement
Credit Agreement | 9 Months Ended |
Sep. 30, 2020 | |
Credit Agreement | |
Credit Agreement | Note 5. Credit Agreement The Company has a credit agreement (the “Credit Agreement”) with Bank of America, N.A. and Wells Fargo Bank, National Association (the “Lenders”). On April 17, 2020, the Company entered into a First Amendment to the Credit Agreement (the “Amendment”) with the Lenders. The execution of the Amendment, among other things, temporarily increased the maximum amount of borrowings under the Revolving Credit Facility (the “Revolving Credit Facility”) from $175 million to $212.5 million until August 30, 2020, subject to the borrowing bases described below. The total size of the Credit Agreement temporarily increased to $237.5 million, inclusive of the first in-last out $25 million term loan (the “FILO Term Loan”). The Revolving Credit Facility and the FILO Term Loan mature on March 29, 2024 and are secured by security interests in the Collateral (as defined in the Credit Agreement), which includes substantially all assets of the Company including, among other things, the Company’s inventory and credit card receivables, and the Company’s East Coast distribution center located in Sandston, Virginia. Under the terms of the Credit Agreement, the Company has the ability to release the East Coast distribution center from the Collateral under certain conditions. The Amendment permanently increased the margin for LIBOR Rate Loans (as defined in the Amendment) to (i) 2.50% to 3.00% over the applicable LIBOR Rate (as defined in the Amendment) with respect to Revolving Loans (as defined in the Amendment) and (ii) 3.75% to 4.50 % over the applicable LIBOR Rate with respect to FILO Term Loans (as defined in the Amendment), in each case (for one, two, three or six month interest periods as selected by the Company) depending on the Company’s average daily excess borrowing availability under the Revolving Credit Facility during the most recently completed fiscal quarter. The Amendment also permanently increased the unused commitment fee of 0.25% per annum to 0.50 % per annum on the average daily unused amount of the Revolving Credit Facility during the most recently completed calendar quarter. . Prior to the Amendment, loans outstanding under the Credit Agreement bore interest based on the Base Rate (as defined in the Credit Agreement) or the LIBOR Rate (as defined in the Credit Agreement). Interest on Base Rate loans was charged at varying per annum rates computed by applying a margin ranging from (i) As of September 30, 2020, a total of $76 million was outstanding under the Revolving Credit Facility and $25 million was outstanding under the FILO Term Loan. The Company also had million in letters of credit which reduces its remaining availability. As of September 30, 2020, there was The Revolving Credit Facility is available to the Company up to the lesser of (1) $175 million (had been temporarily increased to $212.5 million until August 30, 2020 under the Amendment) or (2) a revolving borrowing base equal to the sum of specified percentages of the Company’s eligible inventory (including eligible in-transit inventory), eligible credit card receivables, and eligible owned real estate, less certain reserves, all of which are defined by the terms of the Credit Agreement (the “Revolving Borrowing Base”). If the outstanding FILO Term Loan exceeds the FILO Borrowing Base (as defined in the Credit Agreement), the amount of such excess reduces availability under the Revolving Borrowing Base. The Company retained an option to increase the Revolving Credit Facility to a maximum total amount of $225 million, subject to the satisfaction of the conditions to such increase as specified in the Credit Agreement. The Credit Agreement contains a fixed charge coverage ratio covenant that becomes effective only when specified availability under the Revolving Credit Facility falls below the greater of $17.5 million or 10% of the Combined Loan Cap (as defined in the Credit Agreement). |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2020 | |
Income Taxes [Abstract] | |
Income Taxes | Note 6. Income Taxes The Company calculates its quarterly tax provision pursuant to the guidelines in Accounting Standards Codification ("ASC") 740-270 "Income Taxes." Generally, ASC 740-270 requires companies to estimate the annual effective tax rate for current year ordinary income. The estimated annual effective tax rate represents the best estimate of the tax provision in relation to the best estimate of pre-tax ordinary income or loss. The estimated annual effective tax rate is then applied to year-to-date ordinary income or loss to calculate the year-to-date interim tax provision. Due to the current disruption in the economy related to the COVID-19 pandemic and the impact this has on making a reliable estimate of the annual effective tax rate as of the current reporting period, the Company has applied the actual year-to-date effective tax rate for the current-period tax provision. The CARES Act (the “Act”) was enacted on March 27, 2020. The Act retroactively changed the eligibility of certain assets for expense treatment in the year placed in service, back to 2018, and permitted any net operating loss for the tax years 2018, 2019 and 2020 to be carried back for five years. The Company recorded an income tax benefit of For the three months ended September 30, 2020, the Company recognized income tax expense of $7 million, which represented an effective tax rate of 31.0%. For the three months ended September 30, 2019, the Company recognized income tax expense of $0.2 million, which represented an effective tax rate of 17.7% . The variability of the Company’s third-quarter tax rate reflects the timing of deductions as the Company calculated a discrete provision in 2020 because of COVID-19 uncertainty as compared to using an effective tax rate method in 2019. For the nine months ended September 30, 2020, the Company recognized income tax expense of $4.8 million, which represented an effective tax rate of 13.7%. For the nine months ended September 30, 2019, the Company recognized income tax expense of $0.9 million, which represented an effective tax rate of (14.4)%. The variability of our tax rate in 2020 reflects the timing of deductions on our year-to-date earnings. The Company has a full valuation allowance recorded against its net deferred tax assets of $28 million. The Company intends to maintain a valuation allowance on its deferred tax assets until there is sufficient evidence to support the reversal of all or some portion of this allowance. As the Company continues to deliver improved operating results, it is reasonably possible that all or some portion of the valuation allowance could be reduced in future periods. A reduction in the valuation allowance could result in a significant decrease in income tax expense in the period that the release is recorded. The exact timing and amount of any reduction in the Company’s valuation allowance are unknown at this time and will be subject to the earnings level in future periods. |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2020 | |
Commitments and Contingencies [Abstract] | |
Commitments and Contingencies | Note 7. Commitments and Contingencies Litigation Relating to Bamboo Flooring In 2014, Dana Gold filed a purported class action lawsuit alleging that certain bamboo flooring that the Company sells (the “Strand Bamboo Product”) is defective (the “Gold Litigation”). On September 30, 2019, the parties finalized a settlement agreement that is consistent with the terms of the Memorandum of Understanding previously disclosed by the Company, which would resolve the Gold Litigation on a nationwide basis. Under the terms of the settlement agreement, the Company will contribute $14 million in cash and provide $14 million in store-credit vouchers, with a potential additional $2 million in store-credit vouchers based on obtaining a claim’s percentage of more than 7%, for an aggregate settlement of up to $30 million. The settlement agreement clearly indicates that the settlement does not constitute or include an admission by the Company of any fault or liability, and the Company does not admit any fault, wrongdoing or liability. On December 18, 2019, the court issued an order that, among other things, granted preliminary approval of the settlement agreement. Following the preliminary approval, and pursuant to the terms of the settlement agreement, in December 2019, the Company paid Notice has been disseminated to the class members by the settlement administrator and final approval was granted by the court on October 22, 2020. The Company has notified its insurance carriers and continues to pursue coverage, but the insurers to date have denied coverage. As the insurance claim is still pending, the Company has not recognized any insurance recovery related to the Gold Litigation. The Company recognized a charge to earnings of $28 million within selling, general and administrative expense during the fourth quarter of 2018 as its loss became probable and estimable. During the third quarter of 2020, the Company recognized an additional charge to earnings for in-store vouchers of In addition, there are a number of individual claims and lawsuits alleging damages involving Strand Bamboo Product (the “Bamboo Flooring Litigation”). While the Company believes that a loss associated with the Bamboo Flooring Litigation is reasonably possible, the Company is unable to reasonably estimate the amount or range of possible loss. Any such losses could, potentially, have a material adverse effect, individually or collectively, on the Company’s results of operations, financial condition and liquidity. The Company disputes the claims in the Bamboo Flooring Litigation and intends to defend such matters vigorously. Litigation Relating to Chinese Laminates Formaldehyde-Abrasion MDLs On March 15, 2018, the Company entered into a settlement agreement with the lead plaintiffs in the Formaldehyde MDL (as defined in Part II, Item 1 of this Form 10-Q) and Abrasion MDL (as defined in Part II, Item 1 of this Form 10-Q), cases more fully described in Part II, Item 1 of this Form 10-Q. Under the terms of the settlement agreement, the Company agreed to fund $22 million in cash and provide $14 million in store-credit vouchers for an aggregate settlement of $36 million to settle claims brought on behalf of purchasers of Chinese-manufactured laminate flooring sold by the Company between January 1, 2009 and May 31, 2015. The Company deposited $22 million into an escrow account administered by the court and plaintiffs’ counsel in accordance with the final settlement. The final approval order by the United States District Court for the Eastern District of Virginia has been appealed and is pending. The Company does not anticipate any change to its obligations, but must wait until the appeals are adjudicated or withdrawn. If the appeals were to result in the settlement being set aside, the Company would receive $21.5 million back from the escrow agent. Accordingly, the Company has accounted for the payment of $21.5 million which is included in the caption “Deposit for Legal Settlement” on its condensed consolidated balance sheet. While insurance carriers initially denied coverage with respect to the Formaldehyde MDL and Abrasion MDL, the Company continues to pursue recoveries that the Company believes are appropriate. The $36 million aggregate settlement amount was accrued within SG&A expenses in 2017. For approximately three years after a final ruling has been reached in this matter, plaintiffs will be able to redeem vouchers for product. Some of the states have alternative expiration dates while others have an indefinite amount of time to redeem vouchers. The Company will account for the sales of these products by relieving the relevant liability, reducing inventory used in the transaction and offsetting SG&A expenses for any profit. The Company does not know the timing or pace of voucher redemption. In addition to those purchasers who opted out of the above settlement (the “Opt Outs”), there are a number of individual claims and lawsuits alleging personal injuries, breach of warranty claims, or violation of state consumer protection statutes that remain pending (collectively, the “Related Laminate Matters”). Certain of these Related Laminate Matters were settled in 2019 and 2018, while some remain in settlement negotiations. The Company did not have any expense related to these matters for the nine months ended September 30, 2020. As of September 30, 2020, the remaining accrual related to these matters was $0.1 million, which has been included in the caption “Accrual for Legal Matters and Settlements Current” on the condensed consolidated balance sheet. For the nine months ended September 30, 2019, the Company recognized charges to earnings of $0.4 million within SG&A expenses for these Remaining Laminate Matters. While the Company believes that a further loss associated with the Opt Outs and Related Laminate Matters is reasonably possible, the Company is unable to reasonably estimate the amount or range of possible loss beyond what has been provided. If the Company incurs losses with the respect to the Opt Outs or further losses with respect to Related Laminate Matters, the ultimate resolution of these actions could have a material adverse effect on the Company’s results of operations, financial condition, and liquidity. Canadian Litigation On or about April 1, 2015, Sarah Steele (“Steele”) filed a purported class action lawsuit in the Ontario, Canada Superior Court of Justice against the Company. In the complaint, Steele’s allegations include strict liability, breach of implied warranty of fitness for a particular purpose, breach of implied warranty of merchantability, fraud by concealment, civil negligence, negligent misrepresentation and breach of implied covenant of good faith and fair dealing. Steele did not quantify any alleged damages in her complaint, but seeks compensatory damages, punitive, exemplary and aggravated damages, statutory remedies, attorneys’ fees and costs. While the Company believes that a loss associated with the Steele litigation is possible, the Company is unable to reasonably estimate the amount or range of possible loss. Employee Classification Matters Mason Lawsuit In August 2017, Ashleigh Mason, Dan Morse, Ryan Carroll and Osagie Ehigie filed a purported class action lawsuit in the United States District Court for the Eastern District of New York on behalf of all current and former store managers, store managers in training, installation sales managers and similarly situated current and former employees (collectively, the “Mason Putative Class Employees”) alleging that the Company violated the Fair Labor Standards Act (“FLSA”) and New York Labor Law (“NYLL”) by classifying the Mason Putative Class Employees as exempt. The alleged violations include failure to pay for overtime work. The plaintiffs sought certification of the Mason Putative Class Employees for (i) a collective action covering the period beginning three years prior to the filing of the complaint (plus a tolling period) through the disposition of this action for the Mason Putative Class Employees nationwide in connection with FLSA and (ii) a class action covering the period beginning six years prior to the filing of the complaint (plus a tolling period) through the disposition of this action for members of the Mason Putative Class Employees who currently are or were employed in New York in connection with NYLL. The plaintiffs did not quantify any alleged damages but, in addition to attorneys’ fees and costs, the plaintiffs seek class certification, unspecified amounts for unpaid wages and overtime wages, liquidated and/or punitive damages, declaratory relief, restitution, statutory penalties, injunctive relief and other damages. In November 2018, the plaintiffs filed a motion requesting conditional certification for all store managers and store managers in training who worked within the federal statute of limitations period. In May 2019, the magistrate judge granted the plaintiffs’ motion for conditional certification. The litigation is in the discovery stage, which was extended by the Court from May 2020 to December 18, 2020, and due to COVID-19 complications impacting discovery, the deadline has again been extended to March 31, 2021. The Company disputes the Mason Putative Class Employees’ claims and continues to defend the matter vigorously. Given the uncertainty of litigation, the preliminary stage of the case and the legal standards that must be met for, among other things, class certification and success on the merits, the Company cannot reasonably estimate the possible loss or range of loss, if any, that may result from this action and therefore no accrual has been made related to this. Any such losses could, potentially, have a material adverse effect, individually or collectively, on the Company’s results of operations, financial condition and liquidity. Kramer lawsuit In November 2017, Robert J. Kramer, on behalf of himself and all others similarly situated (collectively, the “Kramer Plaintiffs”) filed a purported class action lawsuit in the Superior Court of California, County of Sacramento on behalf of all current and former store managers, all others with similar job functions and/or titles and all current and former employees classified as non-exempt or incorrectly classified as exempt and who worked for the Company in the State of California (collectively, the “CSM Employees”) alleging violation of the California Labor Code including, among other items, failure to pay wages and overtime and engaging in unfair business practices (the “Kramer matter”). The Company reached settlement for this matter in the third quarter of 2019. Payment of $4.75 million was made to the settlement administrator on April 6, 2020, for distribution to class members. Savidis Lawsuit On April 9, 2020, Lumber Liquidators was served with a lawsuit filed by Tanya Savidis, on behalf of herself and all others similarly situated (collectively, the “Savidis Plaintiffs”). Ms. Savidis filed a purported class action lawsuit in the Superior Court of California, County of Alameda on March 6, 2020, on behalf of all current and former Lumber Liquidators employees employed as non-exempt employees. The complaint alleges violation of the California Labor Code including, among other items, failure to pay minimum wages and overtime wages, failure to provide meal periods, failure to permit rest breaks, failure to reimburse business expenses, failure to provide accurate wage statements, failure to pay all wages due upon separation within the required time, and engaging in unfair business practices (the “Savidis matter”). On or about May 22, 2020, the Savidis Plaintiffs provided notice to the California Department of Industrial Relations requesting they be permitted to seek penalties under the California Private Attorney General Act for the same substantive alleged violations asserted in the Complaint. The Savidis Plaintiffs seek certification of a class action covering the prior four-year period prior to the filing of the complaint to the date of class certification (the “California Employee Class”), as well as a subclass of class members who separated their employment within three years of the filing of the suit to the date of class certification (the “Waiting Time Subclass”). The Savidis Plaintiffs did not quantify any alleged damages but, in addition to attorneys’ fees and costs, seek statutory penalties, unspecified amounts for unpaid wages, benefits, and penalties, interest, and other damages. The Company disputes the Savidis Putative Class Employees’ claims and intends to defend the matter vigorously. Given the uncertainty of litigation, the preliminary stage of the case and the legal standards that must be met for, among other things, class certification and success on the merits, the Company cannot estimate the reasonably possible loss or range of loss, if any, that may result from this action and therefore no accrual has been made related to this. Any such losses could, potentially, have a material adverse effect, individually or collectively, on the Company’s results of operations, financial condition and liquidity. Visnack Lawsuit On June 29, 2020, Michael Visnack, on behalf of himself and all others similarly situated (collectively, the “Visnack Plaintiffs”) filed a purported class action lawsuit in the Superior Court of California, County of San Diego, on behalf of all current and former store managers, and others similarly situated. The Complaint alleges violation of the California Labor Code including, among other items, failure to pay wages and overtime, wage statement violations, meal and rest break violations, unpaid reimbursements and waiting time, and engaging in unfair business practices (the “Visnack matter”). The Visnack Plaintiffs seek certification of a class period beginning September 20, 2019, through the date of Notice of Class Certification, if granted. The Visnack Plaintiffs did not quantify any alleged damages but, in addition to attorneys’ fees and costs, they seek unspecified amounts for each of the causes of action such as unpaid wages and overtime wages, failure to provide meal periods and rest breaks, payroll record and wage statement violations, failure to reimburse expenses and waiting time, liquidated and/or punitive damages, declaratory relief, restitution, statutory penalties, injunctive relief and other damages. The Company is evaluating the Visnack Putative Class Employees' claims and intends to defend itself vigorously in this matter. Given the uncertainty of litigation, the preliminary stage of the case and the legal standards that must be met for, among other things, class certification and success on the merits, the Company cannot estimate the reasonably possible loss or range of loss, if any, that may result from this action and therefore no accrual has been made related to this. Any such losses could, potentially, have a material adverse effect, individually or collectively, on the Company’s results of operations, financial condition and liquidity. Section 301 Tariffs On September 10, 2020 several importers of vinyl flooring filed a lawsuit with the Court of International Trade (the “CIT”) challenging the Section 301 tariffs under Lists 3 and 4. The Company has also filed a companion case at the CIT challenging Section 301 tariffs it has paid and will pay. The action is in its early stages and the Company is unable to predict the timing or outcome of the ruling by CIT. Antidumping and Countervailing Duties Investigation In October 2010, a conglomeration of domestic manufacturers of multilayered wood flooring filed a petition seeking the imposition of antidumping (“AD”) and countervailing duties (“CVD”) with the United States Department of Commerce (“DOC”) and the United States International Trade Commission (“ITC”) against imports of multilayered wood flooring from China. This ruling applies to companies importing multilayered wood flooring from Chinese suppliers subject to the AD and CVD orders. The Company’s multilayered wood flooring imports from China accounted for approximately 6% and 7% of its flooring purchases in 2019 and 2018, respectively. The Company’s consistent view through the course of this matter has been, and remains, that its imports are neither dumped nor subsidized. As such, it has appealed the original imposition of AD and CVD fees. As part of its processes in these proceedings, the DOC conducts annual reviews of the AD and CVD rates. In such cases, the DOC will issue preliminary rates that are not binding and are subject to comment by interested parties. After consideration of the comments received, the DOC will issue final rates for the applicable period, which may lag by a year or more. At the time of import, the Company makes deposits at the then prevailing rate, even while the annual review is in process. When rates are declared final by the DOC, the Company accrues a receivable or payable depending on where that final rate compares to the deposits it has made. The Company and/or the domestic manufacturers can appeal the final rate for any period and can place a hold on final settlement by U.S. Customs and Border Protection while the appeals are pending. In addition to its overall appeal of the imposition of AD and CVD, which is still pending, the Company as well as other involved parties have appealed many of the final rate determinations. Those appeals are pending and, at times, have resulted in delays in settling the shortfalls and refunds shown in the table below. Because of the length of time for finalization of rates as well as appeals, any subsequent adjustment of AD and CVD rates typically flows through a period different from those in which the inventory was originally purchased and/or sold. Results by period for the Company are shown below. The column labeled ‘September 30, 2020 Receivable/Liability Balance’ represents the amount the Company would receive or pay (net of any collections or payments) as the result of subsequent adjustment to rates whether due to finalization by the DOC or because of action of a court based on appeals by various parties. It does not include any initial amounts paid for AD or CVD in the current period at the in-effect rate at that time. There are actions pending if accepted by the CIT that would reduce the Company’s liabilities as described in the footnotes to the table that follows. The Company recorded net interest expense related to antidumping of $0.4 million for the nine months ended September 30, 2020, with the amount included in other expense on the condensed consolidated statements of operations. The estimated associated interest payable and receivable for each period is not included in the table below but is included in the same financial statement line item on the Company’s condensed consolidated balance sheet as the associated liability and receivable balance for each period. Review Rates at which September 30, 2020 Period Period Covered Company Final Rate Receivable/Liability Deposited Balance Antidumping 1 May 2011 through 6.78% and 3.3% 0.73% 1 $1.3 million November 2012 receivable 1 2 December 2012 through 3.30% 3.92% 2 $4.1 million November 2013 liability 2 3 December 2013 through 3.3% and 5.92% 0.0% 3 $4.7 million November 2014 liability 3 4 December 2014 through 5.92% and 13.74% 0.0% Settled November 2015 5 December 2015 through 5.92%. 13.74%. and 17.37% 0.0% Settled November 2016 6 December 2016 through 17.37% and 0.0% 42.57% and 0.0 % 4 $0.5 million receivable November 2017 $1.5 million liability 4 7 December 2017 through 0.0% Pending 5 NA November 2018 Included on the Condensed Consolidated Balance Sheet in $0.5 million Included on the Condensed Consolidated Balance Sheet in $1.3 million Included on the Condensed Consolidated Balance Sheet in $10.3 million Countervailing 1&2 April 2011 through 1.50% 0.83% / 0.99% $0.2 million December 2012 receivable 3 January 2013 through 1.50% 1.38% $0.05 million 4 January 2014 through 1.50% and 0.83% 1.06% $0.02 million 5 January 2015 through 0.83% and 0.99% Final at 0.11% and 0.85% 6 $0.08 million 6 6 January 2016 through 0.99% and 1.38% Final at 3.10% and 2.96% $0.04 million 7 7 January 2017 through 1.38% and 1.06% Pending 8 NA 8 January 2018 through 1.06% Pending NA Included on the Condensed Consolidated Balance Sheet in $0.1 million Included on the Condensed Consolidated Balance Sheet in $0.3 million Included on the Condensed Consolidated Balance Sheet in Other Current Liabilities $0.04 million 1 In the second quarter of 2018, the CIT sustained the DOC’s recommendation to reduce the rate for the first annual review period to 0.73% (from 5.92% ). As a result, the Company reversed its $0.8 million liability and recorded a $1.3 million receivable with a corresponding reduction of cost of sales during the year ended December 31, 2018 . 2 In the second quarter of 2020, the CIT received a recommendation from the DOC to reduce the rate for the second annual review period to 3.92% (from 13.74%) . If accepted by the CIT, the Company will reverse $3.9 million of its $4.1 million liability currently recorded, with a corresponding reduction of cost of sales during the quarter when it is accepted. 3 In September 2020, the CIT received a recommendation from the DOC to reduce the rate for the third annual review period to 0.0% from 17.37% . If accepted by the CIT, the Company will reverse the entire $4.7 million liability currently recorded, with a corresponding reduction of cost of sales, as well as an additional $2.1 million receivable and favorable adjustment to cost of sales for deposits made at previous preliminary rates during the quarter when it is accepted. 4 In the third quarter of 2019, the DOC issued the final rates for the sixth annual review period at 42.57% and 0% depending on the vendor. As a result, the Company recorded a liability of $0.8 million with a corresponding reduction of cost of sales during the year ended December 31, 2019. The Company received payments during 2019 for its vendor with a final rate of 0% and the remaining balance of $0.5 million as of September 30, 2020 was included in other current assets on the condensed consolidated balance sheet. The vendors with a final rate of 42.57% are under appeal and the balance of $1.5 million as of September 30, 2020 was included in other long-term liabilities on the condensed consolidated balance sheet. 5 In January 2020, the DOC issued a preliminary rate of 0.0% for the seventh annual review period. 6 In the second quarter of 2018, the DOC issued the final rates for the fifth annual review period at 0.11% and 0.85% depending on the vendor. As a result, in the second quarter of 2018, the Company recorded a receivable of $0.08 million for deposits made at previous preliminary rates, with a corresponding reduction of cost of sales. 7 In the third quarter of 2019, the DOC issued the final rates for the sixth annual review period at 3.1% and 2.96% depending on the vendor. As a result, the Company recorded a liability of $0.4 million with a corresponding reduction of cost of sales during the year ended December 31, 2019 . The remaining balance, after payments, was approximately $40 thousand as of September 30, 2020. 8 In January 2020, the DOC issued a preliminary rate of 24.61% for the seventh annual review period. If the preliminary rate remains at 24.61% , the Company will record a liability of $2 million in the period in which the ruling is finalized . Other Matters The Company is also, from time to time, subject to claims and disputes arising in the normal course of business. In the opinion of management, while the outcome of any such claims and disputes cannot be predicted with certainty, its ultimate liability in connection with these matters is not expected to have a material adverse effect on the Company’s results of operations, financial position or liquidity. |
Canadian and U.S. Store Exit Co
Canadian and U.S. Store Exit Costs | 9 Months Ended |
Sep. 30, 2020 | |
Canadian and U.S. Store Exit Costs [Abstract] | |
Canadian and U.S. Store Exit Costs | Note 8 . C anadian and U.S. Store Closure Costs During the third quarter of 2020, the Company completed a review of its store footprint and performance. As a result of that review, the Company made the decision to close its stores in the United States. The closure of the Canadian stores reflected the fact that the Company’s performance in these stores has been challenging for a number of years and that all but one of the stores’ leases are expiring in early 2021. The Company believed investing in the Company’s other stores would provide stronger returns. The US stores were underperforming and their prospects for improvement were uncertain due to local market conditions, demographics, and/or the competitive landscape. The stores collectively represent approximately of the Company’s annualized revenue and their absence is not expected to have a meaningful impact on cash flow. The Company expects to incur expense of between million in cumulative foreign exchange losses that are currently included in Other Comprehensive Loss on its condensed consolidated balance sheet. A summary of the store closure costs incurred during the three and nine months ended September 30, 2020 are as follows: Three Months Ended Nine Months Ended September 30, 2020 September 30, 2020 Cost of Merchandise Sold: Inventory write-down and other inventory adjustments $ 761 $ 761 Cost of Merchandise Sold Subtotal 761 761 Selling, General, & Administrative Expenses: Employee termination benefits 411 411 Write-downs of lease and fixed assets 1,362 1,362 Other SG&A store closure costs 30 30 Selling, General, & Administrative Expenses Subtotal 1,803 1,803 Total Store Closure Costs $ 2,564 $ 2,564 A reconciliation of the Company’s liability for employee termination benefits and other store closure costs for the nine months ended September 30, 2020 are as follows: Employee Termination Benefits Other Costs Total Balance as of January 1, 2020 $ - $ - $ - Accrued costs charged to expense 411 130 541 Payments - - - Balance as of September 30, 2020 $ 411 $ 130 $ 541 |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2020 | |
Summary of Significant Accounting Policies [Abstract] | |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The carrying amounts of financial instruments such as cash and cash equivalents, accounts payable and other liabilities approximate fair value because of the short-term nature of these items. The carrying amount of obligations under the Credit Agreement approximates fair value due to the variable rate of interest. |
Merchandise Inventories | Merchandise Inventories The Company values merchandise inventories at the lower of cost or net realizable value. The method by which amounts are removed from inventory is weighted average cost. All of the hardwood flooring purchased from vendors is either prefinished or unfinished, and in immediate saleable form. The Company relies on a select group of international and domestic suppliers to provide imported flooring products that meet the Company’s specifications. The Company is subject to risks associated with obtaining products from abroad, including disruptions or delays in production, shipments, delivery or processing, including due to the COVID-19 pandemic. While the Company continues to be uncertain as to the full impact of COVID-19 to the supply chain, the Company is executing contingency plans to minimize anticipated and potential disruptions to supply chain, domestic distribution centers and store operations. Included in merchandise inventories are tariff related costs, including Section 301 tariffs. Beginning in September 2018, goods coming from China were subject to a 10% tariff under Section 301, which was increased to 25% in June 2019. On November 7, 2019, the U.S. Trade Representative (“USTR”) granted a retroactive exclusion on certain Click Vinyl and engineered products imported from China. Subsequently, on August 6, 2020, the USTR announced its intention not to extend the exclusion pertaining to those certain flooring products imported from China, and the exclusion expired as of August 7, 2020, which again subjects those products to the Section 301 tariffs. At that time, approximately of the Company’s merchandise receipts originated from China. Approximately are now again subject to the Section 301 tariffs. In addition to alternative country sourcing, the Company has other approaches to mitigate the impact of the tariffs, including partnering with current vendors to lower costs and adjusting its pricing. The Company continues to monitor market pricing and promotional strategies to inform and guide its decisions. As of September 30, 2020, the Company has a |
Recognition of Net Sales | Recognition of Net Sales The Company generates revenues primarily by retailing merchandise in the form of hard-surface and porcelain flooring and accessories. Additionally, the Company expands its revenues by offering services to deliver and/or install this merchandise for its customers; it considers these services to be separate performance obligations. The separate performance obligations are detailed on the customer’s invoice(s) and the customer often purchases flooring merchandise without purchasing installation or delivery services. Sales occur through a network of 423 stores, which spanned 47 states including eight stores in Canada, at September 30, 2020. In addition, both the merchandise and services can be ordered through a call center and from the Company’s website, LLFlooring.com Revenue is based on consideration specified in a contract with a customer and excludes any sales incentives from vendors and amounts collected on behalf of third parties. The Company recognizes revenue when it satisfies a performance obligation by transferring control over a product to a customer or performing services for a customer. Revenues from installation and freight services are recognized when the delivery is made or the installation is complete, which approximates the recognition of revenue over time due to the short duration of service provided. The price of the Company’s merchandise and services is specified in the respective contract and detailed on the invoice agreed to with the customer including any discounts. The Company generally requires customers to pay a deposit, equal to approximately half of the retail sales value, when ordering merchandise not regularly carried in a given location or not currently in stock. In addition, the Company generally does not extend credit to its customers with payment due in full at the time the customer takes possession of merchandise or when the service is provided. Customer payments and deposits received in advance of the customer taking possession of the merchandise or receiving the services are recorded as deferred revenues in the accompanying condensed consolidated balance sheet caption “Customer Deposits and Store Credits.” The following table shows the activity in this account for the periods noted: Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Customer Deposits and Store Credits, Beginning Balance $ (55,492) $ (42,888) $ (41,571) $ (40,332) New Deposits (324,726) (281,747) (870,052) (876,010) Recognition of Revenue 295,833 263,960 793,491 818,748 Sales Tax included in Customer Deposits 18,389 15,982 49,932 50,246 Other 2,260 (343) 4,464 2,312 Customer Deposits and Store Credits, Ending Balance $ (63,736) $ (45,036) $ (63,736) $ (45,036) Subject to limitations under the Company’s policy, return of unopened merchandise is accepted for 90 days. Due to the impact of COVID-19, the Company temporarily extended its return policy an additional 60 days starting in March 2020. The amount of revenue recognized for flooring merchandise is adjusted for expected returns, which are estimated based on the Company’s historical data, current sales levels, and forecasted economic trends. The Company uses the expected value method to estimate returns because it has a large number of contracts with similar characteristics. The Company reduces revenue by the amount of expected returns and records it within “Other Current Liabilities” on the condensed consolidated balance sheet. The Company continues to estimate the amount of returns based on historical data. In addition, the Company recognizes a related asset for the right to recover returned merchandise and records it in the “Other Current Assets” caption of the accompanying condensed consolidated balance sheet. This amount was In total, the Company offers hundreds of different flooring products; however, no single flooring product represented a significant portion of its sales mix. By major product category, the Company’s sales mix was as follows: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Manufactured Products 1 $ 135,119 46 % $ 108,825 41 % $ 366,632 46 % $ 337,479 41 % Solid and Engineered Hardwood 80,643 27 % 76,358 29 % 219,444 28 % 241,713 30 % Moldings and Accessories and Other 45,247 15 % 44,058 17 % 123,769 16 % 138,607 17 % Installation and Delivery Services 34,824 12 % 34,719 13 % 83,646 10 % 100,949 12 % Total $ 295,833 100 % $ 263,960 100 % $ 793,491 100 % $ 818,748 100 % 1 |
Cost of Sales | Cost of Sales Cost of sales includes the cost of products sold, including tariffs, the cost of installation services, and transportation costs from vendors to the Company’s distribution centers or store locations. It also includes transportation costs from distribution centers to store locations, transportation costs for the delivery of products from store locations to customers, certain costs of quality control procedures, warranty and customer satisfaction costs, inventory adjustments including obsolescence and shrinkage, and costs to produce samples, which are net of vendor allowances. The Company offers a range of limited warranties for the durability of the finish on its prefinished products to its services provided. These limited warranties range from one , with lifetime warranties for certain of the Company’s products. Warranty reserves are based primarily on claims experience, sales history and other considerations, including payments made to satisfy customers for claims not directly related to the warranty on the Company’s products. Warranty costs are recorded in cost of sales. The Company seeks recovery from its vendors and third-party independent contractors of installation services for certain amounts paid. Vendor allowances primarily consist of volume rebates that are earned as a result of attaining certain purchase levels and reimbursement for the cost of producing samples. Vendor allowances are accrued as earned, with those allowances received as a result of attaining certain purchase levels accrued over the incentive period based on estimates of purchases. Volume rebates earned are initially recorded as a reduction in merchandise inventories and a subsequent reduction in cost of sales when the related product is sold. Reimbursement received for the cost of producing samples is recorded as an offset against cost of sales. |
Recent Accounting Pronouncements Adopted | Recent Accounting Pronouncements Adopted In April 2020, the FASB staff issued a question and answer document (the “Lease Modification Q&A”) focused on the application of lease accounting guidance to lease concessions obtained as a result of the COVID-19 pandemic. Under existing lease guidance, the Company would have to determine, on a lease by lease basis, if a lease concession obtained was a result of a new arrangement reached with the lessor (treated within the lease modification accounting framework) or if a lease concession obtained was under the enforceable rights and obligations within the existing lease agreement (precluded from applying the lease modification accounting framework). The Lease Modification Q&A allows lessees, if certain criteria have been met, to bypass the lease-by-lease analysis, and instead elect to either apply the lease modification accounting framework or not, with such election applied consistently to leases with similar characteristics and similar circumstances. The Company has elected to apply this practical expedient for the period beginning as of April 1, 2020 for those agreements where total payments under the modified lease are substantially the same or less than the original agreement. Included in “Operating Lease Liabilities - Current” on the condensed consolidated balance sheet is the remaining million included in “Operating Lease Liabilities - Long-Term.” The deferred payments will be made over the remainder of the lease term in accordance with each concession agreement. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Summary of Significant Accounting Policies [Abstract] | |
Schedule of Customer Deposits and Store Credits | The following table shows the activity in this account for the periods noted: Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Customer Deposits and Store Credits, Beginning Balance $ (55,492) $ (42,888) $ (41,571) $ (40,332) New Deposits (324,726) (281,747) (870,052) (876,010) Recognition of Revenue 295,833 263,960 793,491 818,748 Sales Tax included in Customer Deposits 18,389 15,982 49,932 50,246 Other 2,260 (343) 4,464 2,312 Customer Deposits and Store Credits, Ending Balance $ (63,736) $ (45,036) $ (63,736) $ (45,036) |
Sales Mix by Major Product | In total, the Company offers hundreds of different flooring products; however, no single flooring product represented a significant portion of its sales mix. By major product category, the Company’s sales mix was as follows: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Manufactured Products 1 $ 135,119 46 % $ 108,825 41 % $ 366,632 46 % $ 337,479 41 % Solid and Engineered Hardwood 80,643 27 % 76,358 29 % 219,444 28 % 241,713 30 % Moldings and Accessories and Other 45,247 15 % 44,058 17 % 123,769 16 % 138,607 17 % Installation and Delivery Services 34,824 12 % 34,719 13 % 83,646 10 % 100,949 12 % Total $ 295,833 100 % $ 263,960 100 % $ 793,491 100 % $ 818,748 100 % 1 |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Stockholders' Equity [Abstract] | |
Computation of Basic and Diluted Net Income Loss Per Common Share | The following table sets forth the computation of basic and diluted net income (loss) per common share: Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Net Income (Loss) $ 15,503 $ 1,045 $ 30,377 $ (6,735) Weighted Average Common Shares Outstanding—Basic 28,859 28,706 28,801 28,681 Effect of Dilutive Securities: Common Stock Equivalents 475 80 274 — Weighted Average Common Shares Outstanding—Diluted 29,334 28,786 29,075 28,681 Net Income (Loss) per Common Share—Basic $ 0.54 $ 0.04 $ 1.05 $ (0.23) Net Income (Loss) per Common Share—Diluted $ 0.53 $ 0.04 $ 1.04 $ (0.23) |
Anti-Dilutive Securities Excluded from Computation of Weighted Average Common Shares Outstanding Diluted | The following shares have been excluded from the computation of Weighted Average Common Shares Outstanding—Diluted because the effect would be anti-dilutive: Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Stock Options 112 608 390 612 Restricted Shares 110 243 113 639 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Stock-Based Compensation [Abstract] | |
Summary Of Activity Related To Stock Options And Restricted Stock Awards | The following table summarizes share activity related to stock options and restricted stock awards (“RSAs”): Restricted Stock Stock Options Awards Options Outstanding/Nonvested RSAs, January 1, 2020 693 911 Granted 227 469 Options Exercised/RSAs Released (14) (211) Forfeited (332) (262) Options Outstanding/Nonvested RSAs, September 30, 2020 574 907 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Commitments and Contingencies [Abstract] | |
Schedule of Other Commitments | Review Rates at which September 30, 2020 Period Period Covered Company Final Rate Receivable/Liability Deposited Balance Antidumping 1 May 2011 through 6.78% and 3.3% 0.73% 1 $1.3 million November 2012 receivable 1 2 December 2012 through 3.30% 3.92% 2 $4.1 million November 2013 liability 2 3 December 2013 through 3.3% and 5.92% 0.0% 3 $4.7 million November 2014 liability 3 4 December 2014 through 5.92% and 13.74% 0.0% Settled November 2015 5 December 2015 through 5.92%. 13.74%. and 17.37% 0.0% Settled November 2016 6 December 2016 through 17.37% and 0.0% 42.57% and 0.0 % 4 $0.5 million receivable November 2017 $1.5 million liability 4 7 December 2017 through 0.0% Pending 5 NA November 2018 Included on the Condensed Consolidated Balance Sheet in $0.5 million Included on the Condensed Consolidated Balance Sheet in $1.3 million Included on the Condensed Consolidated Balance Sheet in $10.3 million Countervailing 1&2 April 2011 through 1.50% 0.83% / 0.99% $0.2 million December 2012 receivable 3 January 2013 through 1.50% 1.38% $0.05 million 4 January 2014 through 1.50% and 0.83% 1.06% $0.02 million 5 January 2015 through 0.83% and 0.99% Final at 0.11% and 0.85% 6 $0.08 million 6 6 January 2016 through 0.99% and 1.38% Final at 3.10% and 2.96% $0.04 million 7 7 January 2017 through 1.38% and 1.06% Pending 8 NA 8 January 2018 through 1.06% Pending NA Included on the Condensed Consolidated Balance Sheet in $0.1 million Included on the Condensed Consolidated Balance Sheet in $0.3 million Included on the Condensed Consolidated Balance Sheet in Other Current Liabilities $0.04 million 1 In the second quarter of 2018, the CIT sustained the DOC’s recommendation to reduce the rate for the first annual review period to 0.73% (from 5.92% ). As a result, the Company reversed its $0.8 million liability and recorded a $1.3 million receivable with a corresponding reduction of cost of sales during the year ended December 31, 2018 . 2 In the second quarter of 2020, the CIT received a recommendation from the DOC to reduce the rate for the second annual review period to 3.92% (from 13.74%) . If accepted by the CIT, the Company will reverse $3.9 million of its $4.1 million liability currently recorded, with a corresponding reduction of cost of sales during the quarter when it is accepted. 3 In September 2020, the CIT received a recommendation from the DOC to reduce the rate for the third annual review period to 0.0% from 17.37% . If accepted by the CIT, the Company will reverse the entire $4.7 million liability currently recorded, with a corresponding reduction of cost of sales, as well as an additional $2.1 million receivable and favorable adjustment to cost of sales for deposits made at previous preliminary rates during the quarter when it is accepted. 4 In the third quarter of 2019, the DOC issued the final rates for the sixth annual review period at 42.57% and 0% depending on the vendor. As a result, the Company recorded a liability of $0.8 million with a corresponding reduction of cost of sales during the year ended December 31, 2019. The Company received payments during 2019 for its vendor with a final rate of 0% and the remaining balance of $0.5 million as of September 30, 2020 was included in other current assets on the condensed consolidated balance sheet. The vendors with a final rate of 42.57% are under appeal and the balance of $1.5 million as of September 30, 2020 was included in other long-term liabilities on the condensed consolidated balance sheet. 5 In January 2020, the DOC issued a preliminary rate of 0.0% for the seventh annual review period. 6 In the second quarter of 2018, the DOC issued the final rates for the fifth annual review period at 0.11% and 0.85% depending on the vendor. As a result, in the second quarter of 2018, the Company recorded a receivable of $0.08 million for deposits made at previous preliminary rates, with a corresponding reduction of cost of sales. 7 In the third quarter of 2019, the DOC issued the final rates for the sixth annual review period at 3.1% and 2.96% depending on the vendor. As a result, the Company recorded a liability of $0.4 million with a corresponding reduction of cost of sales during the year ended December 31, 2019 . The remaining balance, after payments, was approximately $40 thousand as of September 30, 2020. 8 In January 2020, the DOC issued a preliminary rate of 24.61% for the seventh annual review period. If the preliminary rate remains at 24.61% , the Company will record a liability of $2 million in the period in which the ruling is finalized . |
Canadian and U.S. Store Exit _2
Canadian and U.S. Store Exit Costs (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Canadian and U.S. Store Exit Costs [Abstract] | |
Summary of Store Exit Costs Incurred | A summary of the store closure costs incurred during the three and nine months ended September 30, 2020 are as follows: Three Months Ended Nine Months Ended September 30, 2020 September 30, 2020 Cost of Merchandise Sold: Inventory write-down and other inventory adjustments $ 761 $ 761 Cost of Merchandise Sold Subtotal 761 761 Selling, General, & Administrative Expenses: Employee termination benefits 411 411 Write-downs of lease and fixed assets 1,362 1,362 Other SG&A store closure costs 30 30 Selling, General, & Administrative Expenses Subtotal 1,803 1,803 Total Store Closure Costs $ 2,564 $ 2,564 |
Reconciliation of Liability for Employee Termination Benefits and Other Store exit Costs | A reconciliation of the Company’s liability for employee termination benefits and other store closure costs for the nine months ended September 30, 2020 are as follows: Employee Termination Benefits Other Costs Total Balance as of January 1, 2020 $ - $ - $ - Accrued costs charged to expense 411 130 541 Payments - - - Balance as of September 30, 2020 $ 411 $ 130 $ 541 |
Basis of Presentation (Narrativ
Basis of Presentation (Narrative) (Detail) | Sep. 30, 2020storestate | Jul. 31, 2020store | Mar. 28, 2020store |
Organization and Business Operations [Line Items] | |||
Number of States in which Entity Operates | state | 47 | ||
Number of stores temporarily closed | 56 | ||
Percentage of stores fully operational | 98.00% | ||
CANADA | |||
Organization and Business Operations [Line Items] | |||
Number of Stores | 8 | ||
Maximum [Member] | |||
Organization and Business Operations [Line Items] | |||
Number of stores operational by appointment only | 10 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Narrative) (Details) $ in Thousands | 2 Months Ended | 7 Months Ended | 9 Months Ended | 12 Months Ended |
Sep. 30, 2020USD ($)storestate | Aug. 06, 2020 | Sep. 30, 2020USD ($)storestate | Dec. 31, 2019USD ($) | |
Organization And Business Operations [Line Items] | ||||
Number of states in which stores operates | state | 47 | 47 | ||
Tariff Recovery Receivable | $ | $ 7,516 | $ 7,516 | $ 27,025 | |
Percentage of product subject to tariffs | 33.00% | 10.00% | ||
Minimum years of product warranty | 1 year | |||
Maximum years of product warranty | 100 years | |||
Product warranty reserve | $ | $ 1,300 | $ 1,300 | ||
U.S. | ||||
Organization And Business Operations [Line Items] | ||||
Number of stores | store | 423 | 423 | ||
CANADA | ||||
Organization And Business Operations [Line Items] | ||||
Number of stores | store | 8 | 8 | ||
Cost of Goods and Service Benchmark [Member] | ||||
Organization And Business Operations [Line Items] | ||||
Concentration risk, percentage | 43.00% |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies (Schedule of Deferred Revenues) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Customer Deposits and Store Credits, Beginning Balance | $ (55,492) | $ (42,888) | $ (41,571) | $ (40,332) |
New Deposits | (324,726) | (281,747) | (870,052) | (876,010) |
Recognition of Revenue | 295,833 | 263,960 | 793,491 | 818,748 |
Sales Tax included in Customer Deposits | 18,389 | 15,982 | 49,932 | 50,246 |
Other | 2,260 | (343) | 4,464 | 2,312 |
Customer Deposits and Store Credits, Ending Balance | (63,736) | (45,036) | (63,736) | (45,036) |
Net Services Sales | ||||
Recognition of Revenue | $ 34,824 | $ 34,719 | $ 83,646 | $ 100,949 |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies (Sales Mix by Major Product) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Product Information [Line Items] | ||||
Net Sales | $ 295,833 | $ 263,960 | $ 793,491 | $ 818,748 |
Sales Revenue, Product Line [Member] | ||||
Product Information [Line Items] | ||||
Net Sales | $ 295,833 | $ 263,960 | $ 793,491 | $ 818,748 |
Percent | 100.00% | 100.00% | 100.00% | 100.00% |
Net Merchandise Sales | ||||
Product Information [Line Items] | ||||
Net Sales | $ 261,009 | $ 229,241 | $ 709,845 | $ 717,799 |
Manufactured Products | Sales Revenue, Product Line [Member] | ||||
Product Information [Line Items] | ||||
Net Sales | $ 135,119 | $ 108,825 | $ 366,632 | $ 337,479 |
Percent | 46.00% | 41.00% | 46.00% | 41.00% |
Solid and Engineered Hardwood | Sales Revenue, Product Line [Member] | ||||
Product Information [Line Items] | ||||
Net Sales | $ 80,643 | $ 76,358 | $ 219,444 | $ 241,713 |
Percent | 27.00% | 29.00% | 28.00% | 30.00% |
Moldings and Accessories and Other | Sales Revenue, Product Line [Member] | ||||
Product Information [Line Items] | ||||
Net Sales | $ 45,247 | $ 44,058 | $ 123,769 | $ 138,607 |
Percent | 15.00% | 17.00% | 16.00% | 17.00% |
Installation and Delivery Services | Sales Revenue, Product Line [Member] | ||||
Product Information [Line Items] | ||||
Net Sales | $ 34,824 | $ 34,719 | $ 83,646 | $ 100,949 |
Percent | 12.00% | 13.00% | 10.00% | 12.00% |
Summary of Significant Accoun_7
Summary of Significant Accounting Policies (Recent Accounting Pronouncements Adopted) (Details) $ in Millions | Sep. 30, 2020USD ($) |
Summary of Significant Accounting Policies [Abstract] | |
Deferred payments, current | $ 4.5 |
Deferred payments, long term | $ 0.2 |
Stockholders' Equity (Computati
Stockholders' Equity (Computation of Basic and Diluted Net Income Loss Per Common Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Stockholders' Equity [Abstract] | ||||
Net Income (Loss) | $ 15,503 | $ 1,045 | $ 30,377 | $ (6,735) |
Weighted Average Common Shares Outstanding-Basic | 28,859 | 28,706 | 28,801 | 28,681 |
Effect of Dilutive Securities: | ||||
Common Stock Equivalents | 475 | 80 | 274 | |
Weighted Average Common Shares Outstanding-Diluted | 29,334 | 28,786 | 29,075 | 28,681 |
Net Income (Loss) per Common Share-Basic | $ 0.54 | $ 0.04 | $ 1.05 | $ (0.23) |
Net Income (Loss) per Common Share-Diluted | $ 0.53 | $ 0.04 | $ 1.04 | $ (0.23) |
Stockholders' Equity (Anti-Dilu
Stockholders' Equity (Anti-Dilutive Securities Excluded from Computation of Weighted Average Common Shares Outstanding-Diluted) (Details) - shares shares in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Stock Option [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Anti-dilutive securities excluded from computation of earning per share | 112 | 608 | 390 | 612 |
Restricted Shares [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Anti-dilutive securities excluded from computation of earning per share | 110 | 243 | 113 | 639 |
Stockholders' Equity (Narrative
Stockholders' Equity (Narrative) (Details) - USD ($) shares in Thousands, $ in Millions | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Stockholders' Equity [Abstract] | |||
Stock repurchase program, authorized amount | $ 150 | ||
Common stock repurchased, remaining authorized amount | $ 14.7 | ||
Shares repurchased | 0 | 0 | 0 |
Stock-Based Compensation (Summa
Stock-Based Compensation (Summarizes Share Activity Related to Stock Options and Restricted Stock Awards) (Details) shares in Thousands | 9 Months Ended |
Sep. 30, 2020shares | |
Stock Option [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Beginning Balance | 693 |
Granted | 227 |
Options Exercised/RSAs Released | (14) |
Forfeited | (332) |
Ending Balance | 574 |
Restricted Shares [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Beginning Balance | 911 |
Granted | 469 |
Options Exercised/RSAs Released | (211) |
Forfeited | (262) |
Ending Balance | 907 |
Stock-Based Compensation (Narra
Stock-Based Compensation (Narrative) (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Performance-Base Restricted Stock Awards | ||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | ||
Granted | 94,591 | 100,281 |
Grant date fair value of awards | $ 0.9 | $ 1.1 |
Senior Management | Performance-Base Restricted Stock Awards | ||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | ||
Share-based compensation terms | The 2020 performance-based RSAs were awarded to certain members of senior management in connection with the achievement of specific key financial metrics and a relative total shareholder return multiple measured over a three-year period and also vest over a three-year period. The number of 2020 performance-based awards that will ultimately vest is contingent upon the achievement of these key financial metrics and the results of the relative total shareholder return multiple by the end of year three. The 2019 performance-based RSAs were awarded to certain members of senior management in connection with the achievement of specific key financial metrics measured over a two-year period and vest over a three-year period. The number of 2019 performance-based awards that will ultimately vest is contingent upon the achievement of these key financial metrics by the end of year two. The Company assesses the probability of achieving these metrics on a quarterly basis. | |
Senior Management | 2020 Performance Based Awards [Member] | ||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | ||
Vesting period of grants | 3 years | |
Senior Management | 2019 performance-based Awards [Member] | ||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | ||
Vesting period of grants | 3 years |
Credit Agreement (Narrative) (D
Credit Agreement (Narrative) (Details) - USD ($) $ in Thousands | 4 Months Ended | 5 Months Ended | |||
Apr. 16, 2020 | Sep. 30, 2020 | Aug. 30, 2020 | Dec. 31, 2019 | Mar. 29, 2019 | |
Line of Credit Facility [Line Items] | |||||
Outstanding balance | $ 101,000 | $ 82,000 | |||
Amended Credit Agreement [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 237,500 | ||||
Revolving Credit Facility [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Credit facility remaining borrowing capacity | $ 31,000 | ||||
Average interest rate | 3.75% | ||||
Revolving Credit Facility [Member] | Credit agreement | |||||
Line of Credit Facility [Line Items] | |||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 175,000 | ||||
Option to increase aggregate amount | 225,000 | ||||
Long-term Debt | $ 76,000 | ||||
Line of Credit Covenant Trigger | $ 17,500 | ||||
Line of credit covenant trigger percentage | 10.00% | ||||
Revolving Credit Facility [Member] | Amended Credit Agreement [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 212,500 | ||||
Letter of Credit [Member] | Credit agreement | |||||
Line of Credit Facility [Line Items] | |||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 4,000 | ||||
FILO Term Loan | |||||
Line of Credit Facility [Line Items] | |||||
Long-term Debt | $ 25,000 | ||||
Interest rate | 5.125% | ||||
FILO Term Loan | Credit agreement | |||||
Line of Credit Facility [Line Items] | |||||
Face amount | $ 25,000 | ||||
Minimum [Member] | Revolving Credit Facility [Member] | Amended Credit Agreement [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.25% | ||||
Minimum [Member] | Revolving Credit Facility [Member] | Base Rate | Credit agreement | |||||
Line of Credit Facility [Line Items] | |||||
Debt Instrument, Basis Spread on Variable Rate | 0.25% | ||||
Minimum [Member] | Revolving Credit Facility [Member] | LIBOR | |||||
Line of Credit Facility [Line Items] | |||||
Debt Instrument, Basis Spread on Variable Rate | 1.25% | ||||
Minimum [Member] | Revolving Credit Facility [Member] | LIBOR | Amended Credit Agreement [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Debt Instrument, Basis Spread on Variable Rate | 2.50% | ||||
Minimum [Member] | FILO Term Loan | Base Rate | Credit agreement | |||||
Line of Credit Facility [Line Items] | |||||
Debt Instrument, Basis Spread on Variable Rate | 1.25% | ||||
Minimum [Member] | FILO Term Loan | LIBOR | Credit agreement | |||||
Line of Credit Facility [Line Items] | |||||
Debt Instrument, Basis Spread on Variable Rate | 2.25% | ||||
Minimum [Member] | FILO Term Loan | LIBOR | Amended Credit Agreement [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Debt Instrument, Basis Spread on Variable Rate | 3.75% | ||||
Maximum [Member] | Revolving Credit Facility [Member] | Credit agreement | |||||
Line of Credit Facility [Line Items] | |||||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.50% | ||||
Maximum [Member] | Revolving Credit Facility [Member] | Base Rate | Credit agreement | |||||
Line of Credit Facility [Line Items] | |||||
Debt Instrument, Basis Spread on Variable Rate | 0.75% | ||||
Maximum [Member] | Revolving Credit Facility [Member] | LIBOR | |||||
Line of Credit Facility [Line Items] | |||||
Debt Instrument, Basis Spread on Variable Rate | 1.75% | ||||
Maximum [Member] | Revolving Credit Facility [Member] | LIBOR | Amended Credit Agreement [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Debt Instrument, Basis Spread on Variable Rate | 3.00% | ||||
Maximum [Member] | FILO Term Loan | Base Rate | Credit agreement | |||||
Line of Credit Facility [Line Items] | |||||
Debt Instrument, Basis Spread on Variable Rate | 2.00% | ||||
Maximum [Member] | FILO Term Loan | LIBOR | Credit agreement | |||||
Line of Credit Facility [Line Items] | |||||
Debt Instrument, Basis Spread on Variable Rate | 3.00% | ||||
Maximum [Member] | FILO Term Loan | LIBOR | Amended Credit Agreement [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Debt Instrument, Basis Spread on Variable Rate | 4.50% |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Income Taxes [Abstract] | ||||
Effective tax rate | 31.00% | 17.70% | 13.70% | (14.40%) |
Income Tax Expense (Benefit) | $ 6,964 | $ 225 | $ 4,834 | $ 850 |
Income Tax Expenses Benefit, Cares Act | (5,000) | |||
Valuation allowance | $ 28,000 | $ 28,000 |
Commitments and Contingencies_2
Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Thousands | Apr. 06, 2020 | Mar. 15, 2018 | Sep. 30, 2019 | Sep. 30, 2020 | Dec. 31, 2018 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Loss Contingencies [Line Items] | ||||||||||
Payment of litigation settlement | $ 4,903 | $ 33,725 | ||||||||
Accrual for Legal Matters and Settlements - Current | $ 64,751 | 64,751 | $ 67,471 | |||||||
Antidumping Duties [Member] | ||||||||||
Loss Contingencies [Line Items] | ||||||||||
Loss Contingency Multilayered Hardwood Products Purchase Percentage | 6.00% | 7.00% | ||||||||
Antidumping Duties [Member] | Other Expense [Member] | ||||||||||
Loss Contingencies [Line Items] | ||||||||||
Net interest expense | 400 | |||||||||
Litigation Relating to Formaldehyde Abrasion MDL's [Member] | ||||||||||
Loss Contingencies [Line Items] | ||||||||||
Litigation Settlement, Amount | $ 36,000 | |||||||||
Accrual for Legal Matters and Settlements Long-term | 100 | $ 100 | ||||||||
Estimated period for final ruling (in years) | 3 years | |||||||||
Escrow Deposit | 22,000 | |||||||||
Amount receive back from escrow agent | 21,500 | |||||||||
Book value of escrow deposit | 21,500 | $ 21,500 | ||||||||
Litigation Settlement, Expense | $ 400 | |||||||||
Litigation Relating to Formaldehyde Abrasion MDL's [Member] | Selling, General, and Administrative Expense [Member] | ||||||||||
Loss Contingencies [Line Items] | ||||||||||
Litigation Settlement, Expense | $ 36,000 | |||||||||
Litigation Relating to Bamboo Flooring | ||||||||||
Loss Contingencies [Line Items] | ||||||||||
Payment of litigation settlement | $ 1,000 | |||||||||
Percent of floor damage submit as proof | 7.00% | |||||||||
Litigation Relating to Bamboo Flooring | Other Current Liabilities [Member] | ||||||||||
Loss Contingencies [Line Items] | ||||||||||
Accrual for Legal Matters and Settlements - Current | 29,000 | $ 29,000 | ||||||||
Litigation Relating to Bamboo Flooring | Selling, General, and Administrative Expense [Member] | ||||||||||
Loss Contingencies [Line Items] | ||||||||||
Accrued expenses | $ 2,000 | $ 28,000 | ||||||||
Kramer Litigation Matters [Member] | ||||||||||
Loss Contingencies [Line Items] | ||||||||||
Payment of litigation settlement | $ 4,750 | |||||||||
Cash and or Common Stock [Member] | Litigation Relating to Formaldehyde Abrasion MDL's [Member] | ||||||||||
Loss Contingencies [Line Items] | ||||||||||
Litigation Settlement, Amount | 22,000 | |||||||||
In Store Credit [Member] | Litigation Relating to Formaldehyde Abrasion MDL's [Member] | ||||||||||
Loss Contingencies [Line Items] | ||||||||||
Litigation Settlement, Amount | $ 14,000 | $ 14,000 | ||||||||
In Store Credit [Member] | Litigation Relating to Bamboo Flooring | ||||||||||
Loss Contingencies [Line Items] | ||||||||||
Litigation Settlement, Amount | 14,000 | |||||||||
Loss Contingency, Damages Awarded, Value | 2,000 | |||||||||
Maximum [Member] | Litigation Relating to Bamboo Flooring | ||||||||||
Loss Contingencies [Line Items] | ||||||||||
Litigation Settlement, Amount | $ 30,000 |
Commitments and Contingencies_3
Commitments and Contingencies (Schedule of Other Commitments) (Details) $ in Thousands | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 19 Months Ended | 21 Months Ended | |||||||||||||||||
Sep. 30, 2020USD ($) | Aug. 31, 2020 | Jan. 31, 2020USD ($) | Sep. 30, 2020USD ($) | Sep. 30, 2019 | Jun. 30, 2018USD ($) | Mar. 31, 2018 | Sep. 30, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Nov. 30, 2018 | Dec. 31, 2017 | Nov. 30, 2017 | Dec. 31, 2016 | Nov. 30, 2016 | Dec. 31, 2015 | Nov. 30, 2015 | Dec. 31, 2014 | Nov. 30, 2014 | Dec. 31, 2013 | Nov. 30, 2013 | Nov. 30, 2012 | Dec. 31, 2012 | |
Third Annual Review [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Loss Contingency Modified Purchase Price Of Antidumping Duty Rate | 0.00% | ||||||||||||||||||||||
Fourth Annual Review [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Loss Contingency Modified Purchase Price Of Antidumping Duty Rate | 0.00% | ||||||||||||||||||||||
Antidumping Duties [Member] | Other Current Assets [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Contingent Receivable | $ 500 | $ 500 | $ 500 | ||||||||||||||||||||
Antidumping Duties [Member] | Other Assets [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Contingent Receivable | 1,300 | 1,300 | 1,300 | ||||||||||||||||||||
Antidumping Duties [Member] | Other Noncurrent Liabilities [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Contingent Liability | 10,300 | 10,300 | 10,300 | ||||||||||||||||||||
Antidumping Duties [Member] | First Annual Review [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Loss Contingency Modified Purchase Price Of Antidumping Duty Rate | 0.73% | 5.92% | 0.73% | ||||||||||||||||||||
Contingent Liability | $ 800 | ||||||||||||||||||||||
Contingent Receivable | 1,300 | $ 1,300 | $ 1,300 | $ 1,300 | |||||||||||||||||||
Antidumping Duties [Member] | Second Annual Review [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Loss Contingency Purchase Price Of Antidumping Duty Rate | 3.30% | ||||||||||||||||||||||
Loss Contingency Modified Purchase Price Of Antidumping Duty Rate | 3.92% | 13.74% | 3.92% | ||||||||||||||||||||
Contingent Liability | $ 4,100 | $ 4,100 | $ 4,100 | ||||||||||||||||||||
Decrease in contingent liability | 3,900 | ||||||||||||||||||||||
Antidumping Duties [Member] | Third Annual Review [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Loss Contingency Modified Purchase Price Of Antidumping Duty Rate | 0.00% | 17.37% | |||||||||||||||||||||
Contingent Liability | $ 4,700 | 4,700 | 4,700 | ||||||||||||||||||||
Contingent Receivable | 2,100 | 2,100 | 2,100 | ||||||||||||||||||||
Antidumping Duties [Member] | Fourth Annual Review [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Loss Contingency Modified Purchase Price Of Antidumping Duty Rate | 0.00% | ||||||||||||||||||||||
Antidumping Duties [Member] | Fifth Annual Review [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Loss Contingency Modified Purchase Price Of Antidumping Duty Rate | 0.00% | ||||||||||||||||||||||
Antidumping Duties [Member] | Sixth Annual Review [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Contingent Liability | 1,500 | 1,500 | 1,500 | $ 800 | |||||||||||||||||||
Contingent Receivable | 500 | 500 | $ 500 | ||||||||||||||||||||
Antidumping Duties [Member] | Seventh Annual Review [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Loss Contingency Purchase Price Of Antidumping Duty Rate | 0.00% | ||||||||||||||||||||||
Loss Contingency Preliminary Purchase Price Of Anti dumping Duty Rate | 0 | ||||||||||||||||||||||
Antidumping Duties [Member] | Minimum [Member] | Sixth Annual Review [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Loss Contingency Modified Purchase Price Of Antidumping Duty Rate | 0.00% | 0.00% | |||||||||||||||||||||
Antidumping Duties [Member] | Maximum [Member] | Sixth Annual Review [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Loss Contingency Modified Purchase Price Of Antidumping Duty Rate | 42.57% | 42.57% | |||||||||||||||||||||
Countervailing Duties [Member] | Other Current Assets [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Contingent Receivable | 100 | 100 | $ 100 | ||||||||||||||||||||
Countervailing Duties [Member] | Other Assets [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Contingent Receivable | 300 | 300 | 300 | ||||||||||||||||||||
Countervailing Duties [Member] | Other Current Liabilities [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Contingent Liability | 40 | 40 | 40 | ||||||||||||||||||||
Countervailing Duties [Member] | First and Second Annual Review [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Loss Contingency Purchase Price Of Countervailing Duties Rate | 1.50% | ||||||||||||||||||||||
Contingent Receivable | 200 | 200 | 200 | ||||||||||||||||||||
Countervailing Duties [Member] | Third Annual Review [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Loss Contingency Purchase Price Of Countervailing Duties Rate | 1.50% | ||||||||||||||||||||||
Loss Contingency Modified Purchase Price Of Countervailing Duties Rate | 1.38% | ||||||||||||||||||||||
Contingent Receivable | 50 | 50 | 50 | ||||||||||||||||||||
Countervailing Duties [Member] | Fourth Annual Review [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Loss Contingency Modified Purchase Price Of Countervailing Duties Rate | 1.06% | ||||||||||||||||||||||
Contingent Receivable | 20 | 20 | 20 | ||||||||||||||||||||
Countervailing Duties [Member] | Fifth Annual Review [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Contingent Receivable | 80 | 80 | 80 | ||||||||||||||||||||
Countervailing Duties [Member] | Sixth Annual Review [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Contingent Liability | $ 40 | $ 40 | $ 40 | $ 400 | |||||||||||||||||||
Countervailing Duties [Member] | Seventh Annual Review [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Contingent Liability | $ 2,000 | ||||||||||||||||||||||
Loss Contingency Preliminary Purchase Price Of Countervailing Duty Rate | 24.61 | ||||||||||||||||||||||
Countervailing Duties [Member] | Eighth Annual Review [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Loss Contingency Purchase Price Of Countervailing Duties Rate | 1.06% | ||||||||||||||||||||||
Countervailing Duties [Member] | Minimum [Member] | First and Second Annual Review [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Loss Contingency Modified Purchase Price Of Countervailing Duties Rate | 0.83% | ||||||||||||||||||||||
Countervailing Duties [Member] | Minimum [Member] | Fifth Annual Review [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Loss Contingency Modified Purchase Price Of Countervailing Duties Rate | 0.11% | ||||||||||||||||||||||
Countervailing Duties [Member] | Minimum [Member] | Sixth Annual Review [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Loss Contingency Modified Purchase Price Of Countervailing Duties Rate | 2.96% | ||||||||||||||||||||||
Countervailing Duties [Member] | Maximum [Member] | First and Second Annual Review [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Loss Contingency Modified Purchase Price Of Countervailing Duties Rate | 0.99% | ||||||||||||||||||||||
Countervailing Duties [Member] | Maximum [Member] | Fifth Annual Review [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Loss Contingency Modified Purchase Price Of Countervailing Duties Rate | 0.85% | ||||||||||||||||||||||
Countervailing Duties [Member] | Maximum [Member] | Sixth Annual Review [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Loss Contingency Modified Purchase Price Of Countervailing Duties Rate | 3.10% | ||||||||||||||||||||||
Deposit One [Member] | Antidumping Duties [Member] | First Annual Review [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Loss Contingency Purchase Price Of Antidumping Duty Rate | 6.78% | ||||||||||||||||||||||
Deposit One [Member] | Antidumping Duties [Member] | Third Annual Review [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Loss Contingency Purchase Price Of Antidumping Duty Rate | 3.30% | ||||||||||||||||||||||
Deposit One [Member] | Antidumping Duties [Member] | Fourth Annual Review [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Loss Contingency Purchase Price Of Antidumping Duty Rate | 5.92% | ||||||||||||||||||||||
Deposit One [Member] | Antidumping Duties [Member] | Fifth Annual Review [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Loss Contingency Purchase Price Of Antidumping Duty Rate | 5.92% | ||||||||||||||||||||||
Deposit One [Member] | Antidumping Duties [Member] | Sixth Annual Review [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Loss Contingency Purchase Price Of Antidumping Duty Rate | 17.37% | ||||||||||||||||||||||
Loss Contingency Modified Purchase Price Of Antidumping Duty Rate | 42.57% | ||||||||||||||||||||||
Deposit One [Member] | Countervailing Duties [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Loss Contingency Purchase Price Of Countervailing Duties Rate | 1.50% | ||||||||||||||||||||||
Deposit One [Member] | Countervailing Duties [Member] | Fifth Annual Review [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Loss Contingency Purchase Price Of Countervailing Duties Rate | 0.83% | ||||||||||||||||||||||
Loss Contingency Modified Purchase Price Of Countervailing Duties Rate | 0.11% | ||||||||||||||||||||||
Contingent Receivable | $ 80 | ||||||||||||||||||||||
Deposit One [Member] | Countervailing Duties [Member] | Sixth Annual Review [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Loss Contingency Purchase Price Of Countervailing Duties Rate | 0.99% | ||||||||||||||||||||||
Loss Contingency Modified Purchase Price Of Countervailing Duties Rate | 3.10% | ||||||||||||||||||||||
Deposit One [Member] | Countervailing Duties [Member] | Seventh Annual Review [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Loss Contingency Purchase Price Of Countervailing Duties Rate | 1.38% | ||||||||||||||||||||||
Deposit Two [Member] | Antidumping Duties [Member] | First Annual Review [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Loss Contingency Purchase Price Of Antidumping Duty Rate | 3.30% | ||||||||||||||||||||||
Deposit Two [Member] | Antidumping Duties [Member] | Third Annual Review [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Loss Contingency Purchase Price Of Antidumping Duty Rate | 5.92% | ||||||||||||||||||||||
Deposit Two [Member] | Antidumping Duties [Member] | Fourth Annual Review [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Loss Contingency Purchase Price Of Antidumping Duty Rate | 13.74% | ||||||||||||||||||||||
Deposit Two [Member] | Antidumping Duties [Member] | Fifth Annual Review [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Loss Contingency Purchase Price Of Antidumping Duty Rate | 13.74% | ||||||||||||||||||||||
Deposit Two [Member] | Antidumping Duties [Member] | Sixth Annual Review [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Loss Contingency Purchase Price Of Antidumping Duty Rate | 0.00% | ||||||||||||||||||||||
Loss Contingency Modified Purchase Price Of Antidumping Duty Rate | 0.00% | ||||||||||||||||||||||
Deposit Two [Member] | Countervailing Duties [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Loss Contingency Purchase Price Of Countervailing Duties Rate | 0.83% | ||||||||||||||||||||||
Deposit Two [Member] | Countervailing Duties [Member] | Fifth Annual Review [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Loss Contingency Purchase Price Of Countervailing Duties Rate | 0.99% | ||||||||||||||||||||||
Loss Contingency Modified Purchase Price Of Countervailing Duties Rate | 0.85% | ||||||||||||||||||||||
Deposit Two [Member] | Countervailing Duties [Member] | Sixth Annual Review [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Loss Contingency Purchase Price Of Countervailing Duties Rate | 1.38% | ||||||||||||||||||||||
Loss Contingency Modified Purchase Price Of Countervailing Duties Rate | 2.96% | ||||||||||||||||||||||
Deposit Two [Member] | Countervailing Duties [Member] | Seventh Annual Review [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Loss Contingency Purchase Price Of Countervailing Duties Rate | 1.06% | ||||||||||||||||||||||
Deposit Three [Member] | Antidumping Duties [Member] | Fifth Annual Review [Member] | |||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||
Loss Contingency Purchase Price Of Antidumping Duty Rate | 17.37% |
Canadian and U.S. Store Exit _3
Canadian and U.S. Store Exit Costs (Narrative) (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020USD ($)store | Sep. 30, 2019USD ($) | Sep. 30, 2020USD ($)store | Sep. 30, 2019USD ($) | |
Restructuring Cost and Reserve [Line Items] | ||||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Parent, Total | $ 247 | $ (87) | $ 519 | $ (279) |
Canadian and United States Store Exit Costs [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Percentage of annualized revenue collectively from stores being closed | 1.50% | |||
Cumulative foreign exchange losses | 1,100 | |||
Store exit expense | $ 2,564 | $ 2,564 | ||
U.S. | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Number of Stores | store | 423 | 423 | ||
U.S. | Facility Closing [Member] | Canadian and United States Store Exit Costs [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Number of Stores | store | 6 | 6 | ||
CANADA | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Number of Stores | store | 8 | 8 | ||
CANADA | Facility Closing [Member] | Canadian and United States Store Exit Costs [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Number of Stores | store | 8 | 8 | ||
Minimum [Member] | Canadian and United States Store Exit Costs [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Expected expense incurred on stores closing | $ 4,000 | $ 4,000 | ||
Maximum [Member] | Canadian and United States Store Exit Costs [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Expected expense incurred on stores closing | $ 5,000 | $ 5,000 |
Canadian and U.S. Store Exit _4
Canadian and U.S. Store Exit Costs (Summary of Store Exit Costs Incurred) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2020 | Sep. 30, 2019 | |
Restructuring Cost and Reserve [Line Items] | |||
Inventory write-down and other inventory adjustments | $ 2,564 | $ 724 | |
Canadian and United States Store Exit Costs [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Total Store Exit Costs | $ 2,564 | 2,564 | |
Canadian and United States Store Exit Costs [Member] | Cost of Sales [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Inventory write-down and other inventory adjustments | 761 | 761 | |
Total Store Exit Costs | 761 | 761 | |
Canadian and United States Store Exit Costs [Member] | Selling, General, and Administrative Expense [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Employee termination benefits | 411 | 411 | |
Write-downs of lease and fixed assets | 1,362 | 1,362 | |
Other SG&A store exit costs | 30 | 30 | |
Total Store Exit Costs | $ 1,803 | $ 1,803 |
Canadian and U.S. Store Exit _5
Canadian and U.S. Store Exit Costs (Reconciliation of Liability for Employee Termination Benefits and Other Store Exit Costs) (Details) - Canadian and United States Store Exit Costs [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2020 | Sep. 30, 2020 | |
Restructuring Cost and Reserve [Line Items] | ||
Accrued costs charged to expense | $ 2,564 | $ 2,564 |
Employee Termination Benefits and Other Store Closure Costs [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Accrued costs charged to expense | 541 | |
Balance at end of period | 541 | 541 |
Employee Termination Benefits [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Accrued costs charged to expense | 411 | |
Balance at end of period | 411 | 411 |
Other Costs [Member] | ||
Restructuring Cost and Reserve [Line Items] | ||
Accrued costs charged to expense | 130 | |
Balance at end of period | $ 130 | $ 130 |