Document and Entity Information
Document and Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Feb. 18, 2022 | Jun. 30, 2021 | |
Document And Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2021 | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Entity File Number | 001-33767 | ||
Entity Registrant Name | LL Flooring 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 | 2021 | ||
Document Fiscal Period Focus | FY | ||
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 | ||
Icfr Auditor Attestation Flag | true | ||
Entity Shell Company | false | ||
Entity Common Stock, Shares Outstanding | 29,140,469 | ||
Auditor Name | Ernst & Young LLP | ||
Auditor Firm ID | 42 | ||
Auditor Location | Richmond, Virginia | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $ 600.2 | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Current Assets: | ||
Cash and Cash Equivalents | $ 85,189 | $ 169,941 |
Merchandise Inventories | 254,385 | 244,409 |
Prepaid Expenses | 9,160 | 9,370 |
Tariff Recovery Receivable | 4,078 | |
Other Current Assets | 11,094 | 10,354 |
Total Current Assets | 359,828 | 438,152 |
Property and Equipment, net | 96,926 | 97,557 |
Operating Lease Right-of-Use Assets | 119,510 | 109,475 |
Goodwill | 9,693 | 9,693 |
Net Deferred Tax Assets | 11,336 | 11,611 |
Other Assets | 8,599 | 7,860 |
Total Assets | 605,892 | 674,348 |
Current Liabilities: | ||
Accounts Payable | 63,464 | 70,543 |
Customer Deposits and Store Credits | 67,063 | 61,389 |
Accrued Compensation | 10,128 | 15,347 |
Sales and Income Tax Liabilities | 4,297 | 5,793 |
Accrual for Legal Matters and Settlements - Current | 33,611 | 30,398 |
Operating Lease Liabilities - Current | 33,060 | 33,024 |
Other Current Liabilities | 20,717 | 25,761 |
Total Current Liabilities | 232,340 | 242,255 |
Other Long-Term Liabilities | 4,268 | 13,293 |
Operating Lease Liabilities - Long-Term | 97,163 | 90,194 |
Credit Agreement | 101,000 | |
Total Liabilities | 333,771 | 446,742 |
Stockholders' Equity: | ||
Common Stock ($0.001 par value; 35,000 shares authorized; 30,536 and 30,229 shares issued and 29,113 and 28,911 shares outstanding at December 31, 2021 and 2020, respectively | 31 | 30 |
Treasury Stock, at cost (1,423 and 1,318 shares, respectively) | (145,337) | (142,977) |
Additional Capital | 227,804 | 222,628 |
Retained Earnings | 189,623 | 147,925 |
Total Stockholders' Equity | 272,121 | 227,606 |
Total Liabilities and Stockholders' Equity | $ 605,892 | $ 674,348 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
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 | 30,536 | 30,229 |
Common Stock, shares outstanding | 29,113 | 28,911 |
Treasury Stock, shares | 1,423 | 1,318 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Net Sales | $ 1,152,344 | $ 1,097,702 | $ 1,092,602 |
Cost of Sales | 712,302 | 669,990 | 688,916 |
Gross Profit | 440,042 | 427,712 | 403,686 |
Selling, General and Administrative Expenses | 387,356 | 371,430 | 386,970 |
Operating Income | 52,686 | 56,282 | 16,716 |
Other Nonoperating Expense | 2,642 | 3,764 | |
Other (Income) Expense | (104) | ||
Income Before Income Taxes | 52,790 | 53,640 | 12,952 |
Income Tax (Benefit) Expense | 11,092 | (7,787) | 3,289 |
Net Income | $ 41,698 | $ 61,427 | $ 9,663 |
Net Income per Common Share-Basic | $ 1.44 | $ 2.13 | $ 0.34 |
Net Income per Common Share-Diluted | $ 1.41 | $ 2.10 | $ 0.34 |
Weighted Average Common Shares Outstanding: | |||
Basic | 29,041 | 28,830 | 28,689 |
Diluted | 29,525 | 29,247 | 28,793 |
Product [Member] | |||
Net Sales | $ 993,943 | $ 974,829 | $ 956,041 |
Cost of Sales | 588,166 | 574,944 | 586,918 |
Net Services Sales | |||
Net Sales | 158,401 | 122,873 | 136,561 |
Cost of Sales | $ 124,136 | $ 95,046 | $ 101,998 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Statement of Comprehensive Income [Abstract] | |||
Net Income | $ 41,698 | $ 61,427 | $ 9,663 |
Other Comprehensive Income (Loss): | |||
Foreign Currency Translation Adjustments | 823 | (195) | |
Reclassification of Canada Currency Translation to Earnings | 757 | ||
Total Other Comprehensive Income | 1,580 | (195) | |
Comprehensive Income | $ 41,698 | $ 63,007 | $ 9,468 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ 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 | 28,627,000 | 2,951,000 | ||||
Stock-Based Compensation Expense | 4,872 | 4,872 | ||||
Release of Restricted Shares (in shares) | 87,000 | |||||
Common Stock Repurchased | $ (2) | $ (486) | $ (488) | |||
Common Stock Repurchased, (in treasury shares) | (1,706,000) | |||||
Common Stock Repurchased (in shares) | 0 | |||||
Translation Adjustment | (195) | $ (195) | ||||
Net Income | 9,663 | 9,663 | ||||
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 | 28,714,000 | 1,245,000 | ||||
Stock-Based Compensation Expense | 3,333 | 3,333 | ||||
Exercise of Stock Options | 679 | $ 679 | ||||
Exercise of Stock Options (in shares) | 40,000 | 39,824 | ||||
Release of Restricted Shares (in shares) | 157,000 | |||||
Common Stock Repurchased | $ (663) | $ (663) | ||||
Common Stock Repurchased, (in treasury shares) | 73,000 | |||||
Common Stock Repurchased (in shares) | 0 | |||||
Translation Adjustment | 823 | $ 823 | ||||
Reclassification of Canada Currency Translation to Earnings | $ 757 | 757 | ||||
Net Income | 61,427 | 61,427 | ||||
Ending Balance at Dec. 31, 2020 | $ 30 | $ (142,977) | 222,628 | 147,925 | 227,606 | |
Ending Balance (in shares) at Dec. 31, 2020 | 28,911,000 | 1,318,000 | ||||
Stock-Based Compensation Expense | 5,113 | 5,113 | ||||
Exercise of Stock Options | $ 1 | 63 | $ 64 | |||
Exercise of Stock Options (in shares) | 6,000 | 5,798 | ||||
Release of Restricted Shares (in shares) | 196,000 | |||||
Common Stock Repurchased | $ (2,360) | $ (2,360) | ||||
Common Stock Repurchased (in shares) | 105,000 | 0 | ||||
Net Income | 41,698 | $ 41,698 | ||||
Ending Balance at Dec. 31, 2021 | $ 31 | $ (145,337) | $ 227,804 | $ 189,623 | $ 272,121 | |
Ending Balance (in shares) at Dec. 31, 2021 | 29,113,000 | 1,423,000 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Cash Flows from Operating Activities: | |||
Net Income (Loss) | $ 41,698 | $ 61,427 | $ 9,663 |
Adjustments to Reconcile Net Income (Loss): | |||
Depreciation and Amortization | 18,833 | 17,645 | 17,465 |
Deferred Income Taxes Provision | 276 | (12,037) | (366) |
Income on Vouchers Redeemed for Legal Settlements | (1,676) | ||
Stock-Based Compensation Expense | 5,113 | 3,333 | 4,848 |
Provision for Inventory Obsolescence Reserves | 2,345 | 3,036 | 1,888 |
Antidumping Adjustments | (6,279) | (2,208) | 1,143 |
Impairment of Operating Lease Right-Of-Use | 935 | ||
Reclassification of Canada Currency Translation to Earnings | 757 | ||
Loss (Gain) on Disposal of Fixed Assets | 44 | (211) | (221) |
Changes in Operating Assets and Liabilities: | |||
Merchandise Inventories | (15,104) | 38,617 | 28,941 |
Accounts Payable | (8,538) | 9,910 | (13,640) |
Customer Deposits and Store Credits | 5,674 | 19,818 | 1,353 |
Tariff Recovery Receivable | 4,078 | 22,947 | (27,025) |
Prepaid Expenses and Other Current Assets | 700 | (4,094) | (88) |
Deposit for Legal Settlement | (5,219) | 3,605 | 2,477 |
Accrual for Legal Matters and Settlements | 7,773 | 2,507 | 4,575 |
Payments for Legal Matters and Settlements | (101) | (18,080) | (34,729) |
Deferred Rent Payments | (2,315) | 2,947 | |
Deferred Payroll Taxes | (2,542) | 5,131 | |
Other Assets and Liabilities | (6,090) | 1,061 | 4,045 |
Net Cash Provided by Operating Activities | 38,670 | 157,046 | 329 |
Cash Flows from Investing Activities: | |||
Purchases of Property and Equipment | (19,443) | (15,828) | (19,906) |
Other Investing Activities | 71 | 966 | 422 |
Net Cash Used in Investing Activities | (19,372) | (14,862) | (19,484) |
Cash Flows from Financing Activities: | |||
Borrowings on Credit Agreement | 45,000 | 104,500 | |
Payments on Credit Agreement | (101,000) | (26,000) | (87,500) |
Common Stock Repurchased | (2,360) | (663) | (488) |
Other Financing Activities | (690) | 441 | (631) |
Net Cash Used in Financing Activities | (104,050) | 18,778 | 15,881 |
Effect of Exchange Rates on Cash and Cash Equivalents | (14) | 702 | |
Net Increase in Cash and Cash Equivalents | (84,752) | 160,948 | (2,572) |
Cash and Cash Equivalents, Beginning of Period | 169,941 | 8,993 | 11,565 |
Cash and Cash Equivalents, End of Period | 85,189 | 169,941 | 8,993 |
Supplemental disclosure of non-cash operating activities: | |||
Relief of Inventory for Vouchers Redeemed for Legal Settlements | 2,783 | ||
Release of Deposit for Legal Settlement and Liability | 21,500 | ||
Supplemental disclosure of non-cash investing activities: | |||
Tenant Improvement Allowance for Leases | $ (1,230) | $ (726) | $ (2,962) |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2021 | |
Summary of Significant Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Note 1. Summary of Significant Accounting Policies Nature of Business LL Flooring Holdings, Inc., formerly Lumber Liquidators Holding, 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 vinyl plank, solid and engineered hardwood, laminate, bamboo, porcelain tile, and cork, with a wide range of flooring enhancements and accessories to complement direct to the consumer. The Company also provides in-home delivery and installation services to its customers. The Company primarily sells to homeowners or to Pros on behalf of homeowners through a network of store locations in metropolitan areas. The Company’s stores spanned 47 states in the United States (“U.S.”) at December 31, 2021. 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 digital platform, LLFlooring.com Organization and Basis of Financial Statement Presentation The consolidated financial statements of LL Flooring Holdings, Inc., a Delaware corporation, include the accounts of its wholly owned subsidiaries. All significant intercompany transactions have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. The Company estimates that it has sufficient liquidity through amounts available under its forecasted cash flows from operations and Revolving Credit Facility to fund its working capital. The Company prepares its forecasted cash flow and liquidity estimates based on assumptions that it believes to be reasonable but are also inherently uncertain. Actual future cash flows could differ from these estimates. Cash and Cash Equivalents The Company had cash and cash equivalents of $85 million and $170 million at December 31, 2021 and 2020, respectively. The Company maintained a high cash and cash equivalents balance at the end of 2020 to provide financial flexibility during the COVID-19 uncertainty; it repaid all $101 million of its outstanding debt during 2021. The Company considers all highly liquid investments with a maturity date of three months or less when purchased to be cash equivalents, of which there were zero at December 31, 2021 and 2020, respectively. The Company accepts a range of debit and credit cards, and these transactions are generally transmitted to a bank for reimbursement within 24 hours. The payments due from the banks for these debit and credit card transactions are generally received, or settled, within 24 to 48 hours of the transmission date. The Company considers all debit and credit card transactions that settle in less than seven days to be cash and cash equivalents. Amounts due from the banks for these transactions classified as cash equivalents totaled $7.2 million and $7.9 million at December 31, 2021 and 2020, respectively. Credit Programs Credit is offered to the Company’s customers through a credit card, underwritten by a third-party financial institution and at no recourse to the Company. A credit line is offered to the Company’s professional customers through the LL Flooring Commercial Credit Program. This commercial credit program is underwritten by a third-party financial institution, generally with no recourse to the Company. As part of the credit program, the Company’s customers may tender their LL Flooring credit card to receive installation services. As of December 31, 2021, the Company utilized a network of associates to perform certain customer-facing, consultative services and coordinate the installation of its flooring products by third-party independent contractors in all of its stores. Fair Value of Financial Instruments The carrying amounts of financial instruments such as cash and cash equivalents, accounts payable and other liabilities approximates fair value because of the short-term nature of these items. 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 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. Merchandise inventories as of both December 31, 2021, and 2020 were below historic levels as a result of supply chain constraints and COVID-19. The Company plans to return to more historic levels of merchandise inventory in 2022. Inventory cost includes the costs of bringing an article to its existing condition and location such as shipping and handling and import tariffs. The Company maintains an inventory reserve for loss or obsolescence based on historical results and current sales trends. This reserve was $5.6 million and $6.7 million at December 31, 2021 and 2020, respectively. Included in merchandise inventories are tariff related costs, including Section 301 tariffs on certain products imported from China in recent years. A subset of these imports for certain click vinyl and other engineered products (the “Subset Products”) received an exemption that was made retroactive to the beginning of the Section 301 Tariffs for a period of time. The Company has deployed strategies to mitigate tariffs and improve gross margin, including alternative country sourcing, partnering with current vendors to lower costs and introduce new products, and adjusting its pricing. Impairment of Long-Lived Assets The Company evaluates potential impairment losses on long-lived assets and right-of-use assets used in operations when events and circumstances indicate that the assets may be impaired, and the undiscounted cash flows estimated to be generated by those assets are less than the carrying amounts of those assets. If impairment exists an impairment loss is recorded based on the difference between the carrying value and fair value of the assets. The Company recorded a Goodwill and Other Indefinite-Lived Intangibles Goodwill represents the costs in excess of the fair value of net assets acquired associated with acquisitions by the Company. The Company evaluates goodwill for impairment on an annual basis, or whenever events or changes in circumstance indicate that the asset carrying value for the reporting unit exceeds its fair value. Based on the analysis performed, the Company has concluded that impairment in the value of goodwill has occurred. Self-Insurance The Company is self-insured for certain employee health benefit claims and for certain workers’ compensation claims. The Company estimates a liability for aggregate losses below stop-loss coverage limits based on estimates of the ultimate costs to be incurred to settle known claims and claims incurred but not reported as of the balance sheet date. The estimated liability is not discounted and is based on a number of assumptions and factors including historical and industry trends and economic conditions. This liability could be affected if future occurrences and claims differ from these assumptions and historical trends. As of December 31, 2021 and 2020, the Company had accruals of $3.2 million and $2.9 million, respectively, related to estimated claims included in other current liabilities. 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 424 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 service 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 consolidated balance sheet caption “Customer Deposits and Store Credits”. The following table shows the activity in this account for the periods noted: Year Ended December 31, 2021 2020 2019 Customer Deposits and Store Credits, Beginning Balance $ (61,389) $ (41,571) $ (40,332) New Deposits (1,238,157) (1,191,673) (1,163,691) Recognition of Revenue 1,152,344 1,097,702 1,092,602 Sales Tax included in Customer Deposits 69,860 68,681 67,029 Other 10,279 5,472 2,821 Customer Deposits and Store Credits, Ending Balance $ (67,063) $ (61,389) $ (41,571) Subject to the Company’s policy, return of unopened merchandise is generally accepted for 90 days, subject to the discretion of the store manager. 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 consolidated balance sheet. 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 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: Year Ended December 31, 2021 2020 2019 Manufactured Products 1 $ 531,947 46 % $ 505,333 46 % $ 452,914 41 % Solid and Engineered Hardwood 291,458 25 % 299,012 27 % 319,582 29 % Moldings and Accessories and Other 170,538 15 % 170,484 16 % 183,545 17 % Installation and Delivery Services 158,401 14 % 122,873 11 % 136,561 13 % Total $ 1,152,344 100 % $ 1,097,702 100 % $ 1,092,602 100 % 1 Includes laminate, vinyl, engineered vinyl plank and porcelain tile. 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 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. Advertising Costs Advertising costs charged to selling, general and administrative (“SG&A”) expenses, net of vendor allowances, were $62 million, $62 million and $75 million in 2021, 2020 and 2019, respectively. The Company uses various types of media to brand its name and advertise its products. Media production costs are generally expensed as incurred, except for direct mail, which is expensed when the finished piece enters the postal system. Media placement costs are generally expensed in the month the advertising occurs, except for contracted endorsements and sports agreements, which are generally expensed ratably over the contract period. Amounts paid in advance are included in prepaid expenses and totaled $1 million and $0.4 million at December 31, 2021 and 2020, respectively. Store Opening Costs Costs to open new store locations are charged to SG&A expenses as incurred, net of any vendor support. Other Vendor Consideration Consideration from non-merchandise vendors, including royalties and rebates, are generally recorded as an offset to SG&A expenses when earned. Depreciation and Amortization Property and equipment is carried at cost and depreciated on the straight-line method over the estimated useful lives. The estimated useful lives for leasehold improvements are the shorter of the estimated useful lives or the remainder of the lease terms. For leases with optional renewal periods for which renewal is not reasonably certain, the Company uses the original lease term, excluding optional renewal periods, to determine the appropriate estimated useful lives. Capitalized software costs are capitalized from the time that technological feasibility is established until the software is ready for use. The estimated useful lives are generally as follows: Years Buildings and Building Improvements 7 to 40 Property and Equipment 3 to 10 Computer Software and Hardware 3 to 10 Leasehold Improvements 1 to 10 Leases The Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets and operating lease liabilities on the consolidated balance sheet. The operating lease ROU assets and operating lease liabilities are recognized as the present value of the future minimum lease payments over the lease term at commencement date. As most of the leases do not provide an implicit rate, the Company used its incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. The operating lease ROU asset also is adjusted for any lease payments made and excludes lease incentives and initial direct costs incurred. The Company’s lease terms may include options to extend or terminate the lease at certain dates, typically at the Company’s own discretion. The Company regularly evaluates the renewal options and when they are reasonably certain of exercise, the Company includes the renewal period in its lease term. Many of the Company’s leases include both lease (e.g., payments including rent, taxes, and insurance costs) and non-lease components (e.g., common-area or other maintenance costs) which are accounted for as a single lease component as the Company has elected the practical expedient to group lease and non-lease components for all leases. Lease expense for minimum lease payments is recognized on a straight-line basis over the term of the agreement. The Company made an accounting policy election that payments under agreements with an initial term of 12 months or less will not be included on the consolidated balance sheet but will be recognized in the consolidated statements of income on a straight-line basis over the term of the agreement. 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 consolidated balance sheet is the remaining 2020. The deferred payments will be made in accordance with each concession agreement for periods up the remainder of the lease term. Stock-Based Compensation The Company records compensation expense associated with stock options and other forms of equity compensation in accordance with ASC 718. The Company may issue incentive awards, including performance-based awards, in the form of stock options, restricted shares and other equity awards to employees, non-employee directors and other service providers. The Company recognizes expense for the majority of its stock-based compensation based on the fair value of the awards that are granted. For awards granted to non-employee directors, expense is recognized based on the fair value of the award at the end of a reporting period. For performance-based awards granted to certain members of senior management, the Company recognizes expense after assessing the probability of the achievement of certain financial metrics on a periodic basis. Compensation expense is recognized only for those awards expected to vest, with forfeitures estimated at the date of grant based on historical experience and future expectations. Measured compensation cost is recognized ratably over the requisite service period of the entire related stock-based compensation award. Business Interruption Insurance Proceeds In August 2019, the Company experienced a network security incident caused by malware that prevented access to several of the Company’s information technology systems and data. In 2020 the company recorded Foreign Currency Translation The Company’s former Canadian operations used the Canadian dollar as the functional currency. Assets and liabilities were translated at exchange rates in effect at the balance sheet date. Revenues and expenses were translated at the average monthly exchange rates during the year. Resulting translation adjustments have been recorded as a component of accumulated other comprehensive income on the consolidated balance sheets. As discussed in Note 11 to the consolidated financial statements, we closed all our stores in Canada in December 2020. The Company realized expense of Income Taxes Income taxes are accounted for in accordance with ASC 740 (“ASC 740”). Income taxes are provided for under the asset and liability method and consider differences between the tax and financial accounting bases. The tax effects of these differences are reflected on the consolidated balance sheets as deferred income taxes and measured using the effective tax rate expected to be in effect when the differences reverse. ASC 740 also requires that deferred tax assets be reduced by a valuation allowance if it is more likely than not that some portion of the deferred tax asset will not be realized. In evaluating the need for a valuation allowance, the Company takes into account various factors, including the nature, frequency and severity of current and cumulative losses, expected level of future taxable income, the duration of statutory carryforward periods and tax planning alternatives. In future periods, any valuation allowance will be re-evaluated in accordance with ASC 740, and a change, if required, will be recorded through income tax expense in the period such determination is made. The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the relevant taxing authorities, based on the technical merits of its position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The Company classifies interest and penalties related to income tax matters as a component of income tax expense. Net Income per Common Share Basic net income per common share is determined by dividing net income by the weighted average number of common shares outstanding during the year. Diluted net income per common share is determined by dividing net income by the weighted average number of common shares outstanding during the year, plus the dilutive effect of common stock equivalents, including stock options and restricted shares. Common stock and common stock equivalents included in the computation represent shares issuable upon assumed exercise of outstanding stock options and release of restricted shares, except when the effect of their inclusion would be antidilutive. |
Property and Equipment
Property and Equipment | 12 Months Ended |
Dec. 31, 2021 | |
Property and Equipment [Abstract] | |
Property and Equipment | Note 2. Property and Equipment Property and equipment consisted of: December 31, 2021 2020 Land $ 4,937 $ 4,937 Building 44,588 44,527 Property and Equipment 59,322 58,371 Computer Software and Hardware 66,037 61,581 Leasehold Improvement 59,922 55,311 Assets under Construction 3,430 1,508 238,236 226,235 Less: Accumulated Depreciation and Amortization 141,310 128,678 Property and Equipment, net $ 96,926 $ 97,557 As of December 31, 2021 and 2020, the Company had cumulatively capitalized $51 million and $48 million of computer software costs, respectively. Amortization expense related to these assets was $4.4 million, $4.4 million and $4.6 million for 2021, 2020 and 2019, respectively. |
Other Liabilities
Other Liabilities | 12 Months Ended |
Dec. 31, 2021 | |
Other Liabilities [Abstract] | |
Other Liabilities | Note 3. Other Liabilities Other long-term liabilities consisted of: December 31, 2021 2020 Antidumping and Countervailing Duties Accrual, Including Accrued Interest $ 4,105 $ 10,136 Deferred Payroll Taxes — 2,566 Other 163 591 Other Long Term Liabilities $ 4,268 $ 13,293 The Company paid $2.5 million of CARES Act related deferred payroll taxes during 2021. The remaining balance of approximately |
Credit Agreement
Credit Agreement | 12 Months Ended |
Dec. 31, 2021 | |
Credit Agreement | |
Credit Agreement | Note 4. Credit Agreement On March 29, 2019, the Company entered into a Fourth Amended and Restated Credit Agreement has a credit agreement (the “Credit Agreement”) with Bank of America, N.A. and Wells Fargo Bank, N.A. (the “Lenders”). On April 17, 2020, the Company entered into a First Amendment to the Credit Agreement with the Lenders. On April 30, 2021, the Company entered into a Second Amendment to the Credit Agreement (the “Second Amendment”) with the Lenders. The execution of the Second Amendment, among other things, terminated the FILO Term Loans and converted those commitments to the Revolving Credit Facility. The total size of the Credit Agreement remained at The Revolving Credit Facility is 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 Company repaid all $101.0 million of borrowings during the second quarter of 2021. As of December 31, 2021, there was no amount outstanding under the Revolving Credit Facility. The Company had $3.0 million in letters of credit which reduces its availability. As of December 31, 2021, there was $142.3 million of availability under the Revolving Credit Facility. |
Leases
Leases | 12 Months Ended |
Dec. 31, 2021 | |
Leases | |
Leases | Note 5. Leases The Company has operating leases for its stores, corporate headquarters in Richmond, Virginia, its distribution center on the west coast, supplemental office facilities and certain equipment. The store location leases generally have five The cost components of the Company’s operating leases recorded in SG&A on the consolidated statement of operations were as follows for the periods shown: Year Ended December 31, 2021 Year Ended December 31, 2020 Year Ended December 31, 2019 Store Leases Other Leases Total Store Leases Other Leases Total Store Leases Other Leases Total Operating lease costs $ 33,247 $ 3,898 $ 37,145 $ 33,652 $ 3,905 $ 37,557 $ 32,759 $ 4,078 $ 36,837 Variable lease costs 8,622 1,341 9,963 8,604 771 9,375 8,381 1,007 9,388 Total $ 41,869 $ 5,239 $ 47,108 $ 42,256 $ 4,676 $ 46,932 $ 41,140 $ 5,085 $ 46,225 Variable lease costs consist primarily of taxes, insurance, and common area or other maintenance costs for our leased facilities, which are paid as incurred. Other information related to leases were as follows: Year Ended December 31, 2021 Year Ended December 31, 2020 Year Ended December 31, 2019 Store Leases Other Leases Total Store Leases Other Leases Total Store Leases Other Leases Total Supplemental Cash Flows Information Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 36,276 $ 4,329 $ 40,605 $ 31,284 $ 4,199 $ 35,483 $ 33,590 $ 4,252 $ 37,842 Right-of-use assets obtained or modified in exchange for operating lease obligations $ 41,407 $ 157 $ 41,564 $ 16,363 $ 1,124 $ 17,487 $ 25,745 $ 9,828 $ 35,573 Weighted Average Remaining Lease Term (years) 4.73 5.94 4.89 4.66 6.63 4.99 4.81 7.60 5.28 Weighted Average Discount Rate 4.9 % 5.3 % 5.0 % 5.7 % 5.3 % 5.6 % 5.8 % 5.5 % 5.7 % At December 31, 2021, the future minimum rental payments under non-cancellable operating leases were as follows: Operating Leases Total Other Operating Store Leases Leases Leases 2022 $ 34,080 $ 4,127 $ 38,207 2023 28,578 4,105 32,683 2024 22,148 3,593 25,741 2025 17,149 1,560 18,709 2026 10,788 1,603 12,391 Thereafter 13,803 5,077 18,880 Total minimum lease payments 126,546 20,065 146,611 Less imputed interest (13,586) (2,802) (16,388) Total $ 112,960 $ 17,263 $ 130,223 |
Stockholders' Equity
Stockholders' Equity | 12 Months Ended |
Dec. 31, 2021 | |
Stockholders' Equity [Abstract] | |
Stockholders' Equity | Note 6. Stockholders’ Equity Net Income per Common Share The following table sets forth the computation of basic and diluted net income per common share: Year Ended December 31, 2021 2020 2019 Net Income $ 41,698 $ 61,427 $ 9,663 Weighted Average Common Shares Outstanding—Basic 29,041 28,830 28,689 Effect of Dilutive Securities: Common Stock Equivalents 484 417 104 Weighted Average Common Shares Outstanding—Diluted 29,525 29,247 28,793 Net Income per Common Share—Basic $ 1.44 $ 2.13 $ 0.34 Net Income per Common Share—Diluted $ 1.41 $ 2.10 $ 0.34 As of December 31, 2021 2020 2019 Stock Options 184 209 604 Restricted Shares 102 118 187 The following have been excluded from the computation of Weighted Average Common Shares Outstanding—Diluted because the effect would be antidilutive: Stock Repurchase Program In February of 2022, the Company’s board of directors raised its authorization for the repurchase of up to $50 million of the Company’s common stock. At December 31, 2021, the Company had approximately |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Dec. 31, 2021 | |
Stock-Based Compensation [Abstract] | |
Stock-Based Compensation | Note 7. Stock-Based Compensation Overview The Company has an equity incentive plan (the “Plan”) for employees, non-employee directors and other service providers from which the Company may grant stock options, restricted shares and other equity awards. The total number of shares of common stock authorized for issuance under the Plan is 7.8 million. As of December 31, 2021, 2.3 million shares of common stock were available for future grants. Stock options granted under the Plan expire no later than ten years from the date of grant and the exercise price shall not be less than the fair market value of the shares on the date of grant. Vesting periods are assigned to stock options and restricted shares on a grant-by-grant basis at the discretion of the Board. The Company issues new shares of common stock upon exercise of stock options, granting of restricted shares, vesting of performance-based restricted shares, and vesting of restricted stock units. The Company also maintains the LL Flooring Holdings, Inc. Outside Directors Deferral Plan under which each of the Company’s non-employee directors has the opportunity to elect annually to defer certain fees until departure from the Board. A non-employee director may elect to defer up to 100% of his or her fees and have such fees invested in deferred stock units. Deferred stock units must be settled in common stock upon the director’s departure from the Board. There were 177,448 and 183,851 deferred stock units outstanding at December 31, 2021 and 2020, respectively. Stock Options The following table summarizes activity related to stock options: Remaining Weighted Average Aggregate Average Contractual Intrinsic Shares Exercise Price Term (Years) Value Balance, December 31, 2018 732,585 $ 22.97 7.3 $ — Granted 110,535 8.47 Forfeited (149,657) 25.16 Balance, December 31, 2019 693,463 $ 20.18 7.1 $ 144 Granted 236,307 12.00 Exercised (39,824) 17.04 Forfeited (335,990) 18.27 Balance, December 31, 2020 553,956 $ 18.08 7.8 $ 8,508 Granted 111,355 23.49 Exercised (5,798) 10.98 Forfeited (34,586) 16.91 Balance, December 31, 2021 624,927 $ 19.17 7.0 $ 1,979 Exercisable at December 31, 2021 331,123 $ 22.03 5.7 $ 801 Vested and expected to vest December 31, 2021 624,927 $ 19.17 7.0 $ 1,979 The aggregate intrinsic value is the difference between the exercise price and the closing price of the Company’s common stock on December 31. The intrinsic value of stock options exercised during 2021 and 2020 was $35 thousand and $0.5 million, respectively. There were As of December 31, 2021, total unrecognized compensation cost related to unvested options was approximately $1.5 million, net of estimated forfeitures, which is expected to be recognized over a weighted average period of approximately 2.5 years. The fair value of each stock option award is estimated by management on the date of the grant using the Black-Scholes-Merton option pricing model. The weighted average fair value of options granted during 2021, 2020 and 2019 was $13.30, $6.20 and $4.32, respectively. The following are the average assumptions for the periods noted: Year Ended December 31, 2021 2020 2019 Expected dividend rate — % — % — % Expected stock price volatility 65 % 57 % 55 % Risk-free interest rate 1.0 % 1.1 % 2.1 % Expected term of options 5.5 years 5.5 years 5.5 years The expected stock price volatility is based on the historical volatility of the Company’s stock price. The volatilities are estimated for a period of time equal to the expected term of the related option. The risk-free interest rate is based on the implied yield of U.S. Treasury zero-coupon issues with an equivalent remaining term. The expected term of the options represents the estimated period of time until exercise and is determined by considering the contractual terms, vesting schedule and expectations of future employee behavior. Restricted Shares The following table summarizes activity related to restricted shares: Weighted Average Grant Date Fair Shares Value Nonvested, December 31, 2018 487,212 $ 20.54 Granted 661,784 10.35 Released (130,721) 11.09 Forfeited (107,309) 14.71 Nonvested, December 31, 2019 910,966 $ 15.18 Granted 474,877 10.53 Released (230,696) 12.85 Forfeited (283,121) 13.70 Nonvested, December 31, 2020 872,026 $ 15.18 Granted 285,317 22.76 Released (300,915) 13.05 Forfeited (95,513) 14.49 Nonvested, December 31, 2021 760,915 $ 17.31 The fair value of restricted shares released during 2021, 2020 and 2019 was $6.8 million, $2.0 million and $1.5 million, respectively. As of December 31, 2021, total unrecognized compensation cost related to unvested restricted shares was approximately The Company granted a target of 47,768 performance-based RSAs with a grant date fair value of $1.1 million during 2021 and a target of 94,591 performance-based awards with a grant date fair value of $0.9 million during 2020. The performance-based RSAs in both years were awarded to certain members of senior management in connection with the achievement of specific key financial metrics that will be measured over separate respective three-year periods and which will vest at the end of each respective three-year period if the respective performance conditions are met. In addition, the number of 2020 performance-based awards that will ultimately vest is also contingent upon the results of a relative total shareholder return multiple by the end of year three. The Company assesses the probability of achieving these metrics on a quarterly basis. For these awards, the Company recognizes the fair value expense ratably over the performance and vesting period. There were |
Taxes
Taxes | 12 Months Ended |
Dec. 31, 2021 | |
Income Taxes [Abstract] | |
Income Taxes | Note 8. Taxes The components of income (loss) before income taxes were as follows: Year Ended December 31, 2021 2020 2019 United States $ 52,780 $ 55,874 $ 13,830 Foreign 10 (2,234) (878) Total Income before Income Taxes $ 52,790 $ 53,640 $ 12,952 The expense (benefit) for income taxes consisted of the following: Year Ended December 31, 2021 2020 2019 Current Federal $ 9,444 $ 1,868 $ 2,550 State 1,290 2,315 1,015 Foreign 82 67 90 Total Current 10,816 4,250 3,655 Deferred Federal 961 (9,671) (203) State (685) (2,366) (163) Total Deferred 276 (12,037) (366) Income Tax Expense (Benefit) $ 11,092 $ (7,787) $ 3,289 A reconciliation to the statutory tax rate is as follows: Year Ended December 31, 2021 2020 2019 Income Tax Expense at Federal Statutory Rate $ 11,088 21.0 % $ 11,264 21.0 % $ 2,720 21.0 % Increases (Decreases): State Income Taxes, Net of Federal Income Tax Benefit 2,086 4.0 % 1,949 3.6 % 425 3.3 % Change in Valuation Allowance and Loss Carryforwards (2,698) (5.1) % (21,363) (39.8) % 668 5.2 % Foreign Operations 365 0.7 % 2,431 4.5 % 90 0.7 % Uncertain Tax Positions 242 0.4 % — — % 174 1.3 % Non-Deductible Fines and Penalties — — % 2 — % 6 — % CARES Act Rate Differential — — % (1,751) (3.3) % — — % Other 9 — % (319) (0.5) % (794) (6.1) % Income Tax Expense (Benefit) $ 11,092 21.0% % $ (7,787) (14.5) % $ 3,289 25.4 % The tax effects of temporary differences that result in significant portions of the deferred tax accounts based on enacted statutory rates in both 2021 and 2020, are as follows: December 31, 2021 2020 Deferred Tax Liabilities: Operating Lease Right-of-Use Assets $ (31,374) $ (28,579) Depreciation and Amortization and Other (14,324) (14,532) Total Gross Deferred Tax Liabilities (45,698) (43,111) Deferred Tax Assets: Operating Lease Liabilities 34,021 31,365 Stock-Based Compensation Expense 2,381 2,155 Legal Settlement Reserves 8,850 7,998 Other Accruals and Reserves 2,809 4,718 Employee Benefits 2,117 3,616 Inventory Reserves 927 1,241 Inventory Capitalization 4,088 2,790 Foreign Net Operating Loss Carryforwards 2,405 2,674 Net Operating Loss Carryforwards 1,186 250 Capital Loss Carryforwards and Other 655 3,538 Total Gross Deferred Tax Assets 59,439 60,345 Less: Valuation Allowance (2,405) (5,623) Total Deferred Tax Assets 57,034 54,722 Net Deferred Tax Asset $ 11,336 $ 11,611 The Company continues to monitor developments by federal and state rulemaking authorities regarding tax law changes and recognizes the impact of these law changes in the period in which they are enacted. million relating to foreign operations. The amount of the deferred tax assets considered realizable could be adjusted in future periods if evidence warrants such a change. During 2021, the Company recognized additional state net operating losses expected to be utilized, which are reflected in the ending deferred tax assets and resulted in a reduction of tax expense of approximately As of December 31, 2021 and 2020, respectively, the Company had $0.4 million and $0.2 million of gross unrecognized tax benefits related to Uncertain Tax Positions ($0.4 million and $0.2 million net of federal tax benefit). It is reasonably possible that the amount of the unrecognized tax benefit with respect to certain of the uncertain tax positions will increase or decrease during the next 12 months; however, the Company does not expect the change in uncertain tax positions to have a significant effect on its results of operations, financial position or cash flows. A reconciliation of the beginning and ending amount of gross unrecognized tax benefits, excluding interest and penalties, is as follows: Year Ended December 31, 2021 2020 Balance at beginning of year $ 225 $ 225 Increase for tax positions related to current year 375 — Decrease for tax positions related to prior years (133) — Settlements (92) — Balance at end of year $ 375 $ 225 The Company files income tax returns with the U.S. federal government and various state and foreign jurisdictions. In the normal course of business, the Company is subject to examination by taxing authorities. As of December 31, 2021, the Internal Revenue Service has completed audits of the Company’s income tax returns through 2016. In February 2022 the Company received sales tax and use tax assessments from the Commonwealth of Virginia covering part of 2014 through 2017. The Company believes there are some factual errors, is disputing this assessment, and will defend itself vigorously in this matter. Given the uncertainty of the final resolution, |
401(K) Plan
401(K) Plan | 12 Months Ended |
Dec. 31, 2021 | |
401(K) Plan [Abstract] | |
401(K) Plan | Note 9. 401(k) Plan The Company maintains a plan, qualified under Section 401(k) of the Internal Revenue Code, for all eligible employees. Employees are eligible to participate following the completion of three months of service and attainment of age 21. The plan is a safe harbor plan, with company matching contributions of 100% of the first 3% of employee contributions and 50% of the next 2% of employee contributions. Both deferrals and Roth contributions are allowed up to 90% of an employee’s eligible compensation, subject to annual IRS limits. Additionally, employees are immediately 100% vested in the Company’s matching contributions. The Company’s matching contributions, included in SG&A expenses, totaled $3.3 million, $3.8 million and $2.8 million in 2021, 2020 and 2019, respectively. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2021 | |
Commitments and Contingencies [Abstract] | |
Commitments and Contingencies | Note 10. Commitments and Contingencies The following chart shows the activity related to the Balance Sheet “Accrual for Legal Matters and Settlements-Current”. The matters themselves are described in greater detail in the paragraphs that follow the chart. January 1, 2021 December 31, 2021 Litigation Matter Accrual for Legal Matters Settlement Vouchers Accrual for Legal Matters Description and Settlements - Current Accruals Payments Redeemed and Settlements - Current MDL $ 14,000 $ — $ — $ (3,344) $ 10,656 Mason — 7,000 — — 7,000 Gold 16,000 — — (1,115) 14,885 Other Matters 398 773 (101) — 1,070 $ 30,398 $ 7,773 $ (101) $ (4,459) $ 33,611 January 1, 2020 December 31, 2020 Litigation Matter Accrual for Legal Matters Settlement Vouchers Accrual for Legal Matters Description and Settlements - Current Accruals Payments Redeemed and Settlements - Current MDL $ 35,500 $ — $ (21,500) 1 $ — $ 14,000 Gold 27,000 2,000 (13,000) — 16,000 Kramer 4,750 — (4,750) — — Other Matters 221 507 (330) — 398 $ 67,471 $ 2,507 $ (39,580) $ — $ 30,398 1 $21.5 million was paid into an escrow account for MDL in 2019 and recorded as “Deposit Legal Settlement” on the consolidated balance sheet. In the fourth quarter of 2020, the liability and deposit were relieved as the funds were distributed. Employment Cases 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, 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 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 plaintiffs’ motion for conditional certification. On January 6, 2021, the magistrate judge ruled in favor of a motion by the Company to exclude from the Mason Putative Class the claims of In April 2021, the Company entered into a Memorandum of Understanding (“Mason MOU”) with counsel for the lead plaintiffs in the Mason matter. Under the terms of the Mason MOU, the Company will pay up to collective action (“Collective Members”) and (ii) are currently or were employed in New York and did not previously file an opt-in notice to participate in the collective action (the “New York Non Opt-Ins”). Notices were sent to the New York Non Opt-Ins in December 2021 alerting them of an opportunity to file an opt-in notice to participate in the settlement. A fairness hearing to approve the final settlement is anticipated to occur in the second quarter of 2022 with notices of settlement and checks issued following a final, non-appealable order of the court granting approval of the settlement. To the extent any checks issued to the Collective Members and the New York Non Opt-Ins are not cashed within one hundred eighty days will revert to the Company. The Mason MOU is subject to certain contingencies, including court approval of the definitive settlement agreement. There can be no assurance that a settlement will be approved or as to the ultimate outcome of the litigation. If a final, court approved settlement is not reached, the Company will defend the matter vigorously and believes there are meritorious defenses and legal standards that must be met for success on the merits. If the parties are unable to finalize the settlement, the Mason matter could have a material adverse effect on the Company’s financial condition and results of operations. As a result of these developments, the Company determined that a probable loss has been incurred and has accrued within SG&A a million liability during the first quarter of 2021. As of December 30, 2021, the remaining accrual related to this matter is 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 In December 2020, the Company began contacting individuals who constitute the Savidis Plaintiffs and offered individual settlements in satisfaction of their claims. In April 2021, the Company entered into a Memorandum of Understanding (“Savidis MOU”) with counsel for the lead plaintiffs in the Savidis matter. Under the terms of the Savidis MOU, the Company will pay $0.9 million reduced by a credit of $0.1 million for amounts already paid to the individuals who accepted the Company’s prior settlement offer. The Company accrued an additional $675 thousand related to this matter in the first quarter 2021. In October 2021, notices were mailed to class members advising them of the settlement. Class members who do not exclude themselves from the settlement and who did not receive an individual settlement payment will automatically receive a payment. In January 2022, the Court provided final approval of the settlement and the Company anticipates that the Settlement Administrator will mail checks to the class members who do not opt out of participating in the settlement in the second quarter of 2022 . 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. On December 14, 2020, the court ruled in favor of a motion by the Company to compel arbitration for Michael Visnack under the existing agreement between the Company and Mr. Visnack. The court declined to outright dismiss the putative class claims but stayed the putative class claims and Private Attorneys General Act claims pending arbitration. The court denied plaintiff’s request to conduct discovery. In the first quarter of 2021, the Company received notice that Mr. Visnack has filed an arbitration claim, which the Company intends to defend. Mr. Visnack is a Collective Member of the Mason Putative Class and will have the opportunity to decide whether to participate in the Mason settlement and release his claims against the Company, in which case he would be removed as the lead Plaintiff in the Visnack matter. 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. 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 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 for Antidumping and Countervailing Duties Investigation In October 2010, a conglomeration of domestic manufacturers of multilayered wood flooring (“Petitioners”) 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 3% and 4% of its flooring purchases in 2021 and 2020, respectively. 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. The Company as well as other involved parties have appealed many of the final rate determinations. Certain of 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 ‘December 31, 2021 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. The Company recorded net interest income related to antidumping and countervailing duties of $1.8 million for the year ended December 31, 2021 compared to net interest income of $0.6 million for the year ended December 31, 2020. The amounts for both years are included in other expense on the Statements of Operations. The estimated associated interest payable and receivable for each period is not included in the table below and is included in the same financial statement line item on the Company’s consolidated balance sheet as the associated liability and receivable balance for each period. Review Rates at which December 31, 2021 Period 1 Period Covered Company Final Rate Receivable/Liability Deposited Balance Antidumping 1 May 2011 through 6.78% and 3.3% 0.73% 2 $1.3 million November 2012 receivable 2 2 December 2012 through 3.30% 3.92% 3 $0.2 million November 2013 liability 3 3 December 2013 through 3.3% and 5.92% 0.0% 4 $1.8 million November 2014 recievable 4 6 December 2016 through 17.37% and 0.00% 42.57% and 0.0% 5 $0.5 million receivable November 2017 $1.5 million liability 5 7 December 2017 through 0.00% 0.0% 6 NA November 2018 8 December 2018 through 0.00% 0.0% 7 NA November 2019 9 December 2019 through 0.00% 0.0% 8 NA November 2020 Included on the Consolidated Balance Sheet in Other Current Assets $2.3 million Included on the Consolidated Balance Sheet in Other Assets $1.3 million Included on the Consolidated Balance Sheet in Other Current Liabilities $0.2 million Included on the Consolidated Balance Sheet in Other Long-Term Liabilities $1.5 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% $0.04 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% 9 $0.07 million 9 6 January 2016 through 0.99% and 1.38% Final at 3.10% and 2.96% 10 $0.04 million 10 7 January 2017 through 1.38% and 1.06% 20.75% 11 $1.7 million 11 8 January 2018 through 1.06% 6.13% 12 $0.3 million 12 9 January 2019 through 0.00%, 0.85%, 2.96% 5.50% / 15.71% 13 NA Included on the Consolidated Balance Sheet in Other Current Assets $0.07 million Included on the Consolidated Balance Sheet in Other Assets $0.3 million Included on the Consolidated Balance Sheet in Other Current Liabilities $0.04 million Included on the Consolidated Balance Sheet in Other Long-Term Liabilities $2.0 million 1 The fourth and fifth annual anti-dumping review periods have been settled and are no longer included on the chart above. 2 In the second quarter of 2018, the Court of International Trade (“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 . 3 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% ). The recommendation was accepted by the CIT in the fourth quarter of 2020, and the Company reversed $3.9 million of its $4.1 million liability, with a corresponding reduction of cost of sales. 4 In the third quarter of 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% . The recommendation was accepted by the CIT in the first quarter of 2021, and the Company reversed the entire $4.7 million liability, with a corresponding reduction of cost of sales, and recorded a $1.8 million receivable and favorable adjustment to cost of sales for deposits made at previous preliminary rates. 5 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 0.0% and the remaining balance of $0.5 million as of June 30, 2021 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 December 31, 2021 was included in other long-term liabilities on the condensed consolidated balance sheet. 6 In the first quarter of 2020, the DOC issued a final rate of 0.0% for the seventh annual review period. The final rate is currently under appeal. 7 In April 2021, the DOC issued a preliminary rate of 0.0% for the eighth annual review period. This rate was finalized at 0.0% in October 2021. 8 In the fourth quarter of 2021, the DOC issued a preliminary rate of 0.0% for the ninth annual review period. 9 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 $0.07 million for deposits made at previous preliminary rates, with a corresponding reduction of cost of sales. 10 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 December 31, 2021. 11 In the fourth quarter of 2020, the DOC issued the final rate 20.75% for the seventh annual review period. As a result, the Company recorded a liability of $1.7 million with a corresponding increase to cost of sales during the year ended December 31, 2020. The Company has appealed this final rate during the first quarter of 2021. 12 In October 2021, the DOC issued the final rate of 6.13% for the eighth annual review period . As a result, in October 2021 the Company recorded a $0.3 million liability with a corresponding increase in cost of sales. 13 In the fourth quarter of 2021, the DOC issued preliminary rates of 5.5% and 15.71% for the ninth annual review period. If the preliminary rates remain at 5.5% and 15.71% , the Company will record a liability of $0.2 million in the period in which the ruling is finalized. Litigation Relating to Bamboo Flooring Dana Gold filed a purported class action lawsuit in the United States District Court for the Northern District of California alleging that the Morning Star bamboo flooring that the Company sells was defective (the “Gold Litigation”). In the third quarter of 2019, the parties finalized a settlement agreement that is consistent with the terms of the Memorandum of Understanding previously disclosed by the Company, to resolve the Gold Litigation on a nationwide basis. Under the terms of the settlement agreement, the Company contributed Notice has been disseminated to 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 million within selling, general and administrative expense as the Company became aware that a threshold in the settlement agreement was met. The Company paid the remaining million of the Gold Cash Payment in the fourth quarter of 2020. The vouchers were issued in the middle of the third quarter of 2021. As of December 31, 2021, the remaining accrual related to these matters for vouchers, which has been included in the caption “Accrual for Legal Matters and Settlements” on its consolidated balance sheet. 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. On September 9, 2021, Larry and Kathy Fluharty filed a purported class action lawsuit in the United States District Court for the Eastern District of Arkansas alleging substantially the same allegations as the Gold Litigation, for a class period beginning March 16, 2019 to present (the “Fluharty Litigation”). During the fourth quarter of 2021, the Company filed a motion to dismiss the complaint, or in the alternate strike the class allegations. On December 30, 2021, the court denied the motion to dismiss and noted that the arguments regarding the proposed class were premature. The Company has filed its answer to the complaint and is proceeding to defend the matter vigorously. The Company disputes the claims in the Fluharty Litigation The Company is evaluating the Fluharty Litigation and is unable to determine if a loss is reasonably possible or to estimate the amount or range of possible loss, if any. Litigation Related to Formaldehyde-Abrasion MDLs In 2018, the Company entered into a settlement agreement to resolve claims related to Chinese-manufactured laminate products (the “Formaldehyde-Abrasion MDL”). Under the terms of the settlement agreement, the Company funded $22 million in cash and provided $14 million in store-credit vouchers for an aggregate settlement amount of $36 million to settle claims. The Company will monitor and evaluate the redemption of vouchers on a quarterly basis. The Company’s current expectation is that recipients bargained for this compensation as part of the settlement and therefore will redeem their voucher for product as intended. As of December 31, 2021, the remaining accrual related to these matters was $10.7 million for vouchers, which has been included in the caption “Accrual for Legal Matters and Settlements – Current” on its consolidated balance sheet. As In addition to those purchasers who elected to opt 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. The Company did no t have any expense for these matters for the year ending December 31, 2021, or 2020. As of December 31, 2021 and 2020, the remaining accrual related to these matters was what has been provided. Any such losses could, potentially, have a material adverse effect, individually or collectively, on the Company’s results of operations, financial condition and liquidity. During 2021, the Company reached a settlement with three of its insurance carriers related to legal fees for the MDL matter for a combined amount of $0.9 million and received payment. 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 relating to the Company’s Chinese-manufactured laminate flooring products. 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 further loss associated with the Steele litigation is reasonably possible, the Company is unable to reasonably estimate the amount or range of possible loss. Section 301 Tariffs Since September 2018, pursuant to Section 301 of the Trade Act of 1974, the United States Trade Representative (“USTR”) has imposed tariffs on certain goods imported from China over four tranches or Lists. Products imported by the Company fall within Lists 3 and 4 for which tariffs range from 10% to 25%. On September 10, 2020 several importers of vinyl flooring filed a lawsuit with 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. The Company is unable to predict the timing or outcome of the ruling by the CIT. If these appeals are successful, the Company should qualify for refunds on these Section 301 tariffs. 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 Closure
Canadian and U.S. Store Closure Costs | 12 Months Ended |
Dec. 31, 2021 | |
Canadian and U.S. Store Closure Costs [Abstract] | |
Canadian and U.S. Store Closure Costs | Note 11. Canadian 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 U.S. stores were underperforming and their prospects for improvement were uncertain due to local market conditions, demographics, and/or the competitive landscape. The stores collectively represented approximately of the Company’s annualized revenue and their absence did not have a meaningful impact on cash flow. The Company incurred expense of million reclassification of cumulative translation adjustments to earnings that were previously included in Other Comprehensive Loss on its consolidated balance sheet. Approximately A summary of the store closure costs incurred during 2020 is as follows: Year Ended December 31, 2020 Cost of Merchandise Sold: Inventory write-down and other inventory adjustments $ 822 Cost of Merchandise Sold Subtotal 822 Selling, General, & Administrative Expenses: Employee termination benefits 411 Write-downs of lease and fixed assets 1,362 Reclassification of Foreign Currency Translation to Earnings 757 Other SG&A store closure costs 432 Selling, General, & Administrative Expenses Subtotal 2,962 Total Store Closure Costs $ 3,784 There are no remaining liabilities for employee termination benefits and accrued store closure costs as of December 31, 2021. |
Schedule II - Analysis of Valua
Schedule II - Analysis of Valuation and Qualifying Accounts | 12 Months Ended |
Dec. 31, 2021 | |
Schedule II - Analysis of Valuation and Qualifying Accounts [Abstract] | |
Schedule II - Analysis of Valuation and Qualifying Accounts | LL Flooring Holdings, Inc. Schedule II – Analysis of Valuation and Qualifying Accounts For the Years Ended December 31, 2021, 2020 and 2019 (in thousands) Additions Balance Charged to Beginning Cost and Balance End of Year Expenses Deductions (1) Other of Year For the Year Ended December 31, 2019 Reserve deducted from assets to which it applies Inventory reserve for loss or obsolescence $ 6,807 $ 1,888 $ (1,795) $ — $ 6,900 Income tax valuation allowance $ 26,318 $ 668 $ — $ — $ 26,986 For the Year Ended December 31, 2020 Reserve deducted from assets to which it applies Inventory reserve for loss or obsolescence $ 6,900 $ 3,036 $ (3,199) $ — $ 6,737 Income tax valuation allowance $ 26,986 $ — $ (21,363) $ — $ 5,623 For the Year Ended December 31, 2021 Reserve deducted from assets to which it applies Inventory reserve for loss or obsolescence $ 6,737 $ 2,345 $ (3,530) $ — $ 5,552 Income tax valuation allowance $ 5,623 $ — $ (3,218) $ — $ 2,405 1 Deductions for the inventory reserve are for the purposes for which the reserve was created. The deductions for the income tax valuation allowance is described in Item 8. Note 8. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Summary of Significant Accounting Policies [Abstract] | |
Nature of Business | Nature of Business LL Flooring Holdings, Inc., formerly Lumber Liquidators Holding, 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 vinyl plank, solid and engineered hardwood, laminate, bamboo, porcelain tile, and cork, with a wide range of flooring enhancements and accessories to complement direct to the consumer. The Company also provides in-home delivery and installation services to its customers. The Company primarily sells to homeowners or to Pros on behalf of homeowners through a network of store locations in metropolitan areas. The Company’s stores spanned 47 states in the United States (“U.S.”) at December 31, 2021. 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 digital platform, LLFlooring.com |
Organization and Basis of Financial Statement Presentation | Organization and Basis of Financial Statement Presentation The consolidated financial statements of LL Flooring Holdings, Inc., a Delaware corporation, include the accounts of its wholly owned subsidiaries. All significant intercompany transactions have been eliminated in consolidation. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. The Company estimates that it has sufficient liquidity through amounts available under its forecasted cash flows from operations and Revolving Credit Facility to fund its working capital. The Company prepares its forecasted cash flow and liquidity estimates based on assumptions that it believes to be reasonable but are also inherently uncertain. Actual future cash flows could differ from these estimates. |
Cash and Cash Equivalents | Cash and Cash Equivalents The Company had cash and cash equivalents of $85 million and $170 million at December 31, 2021 and 2020, respectively. The Company maintained a high cash and cash equivalents balance at the end of 2020 to provide financial flexibility during the COVID-19 uncertainty; it repaid all $101 million of its outstanding debt during 2021. The Company considers all highly liquid investments with a maturity date of three months or less when purchased to be cash equivalents, of which there were zero at December 31, 2021 and 2020, respectively. The Company accepts a range of debit and credit cards, and these transactions are generally transmitted to a bank for reimbursement within 24 hours. The payments due from the banks for these debit and credit card transactions are generally received, or settled, within 24 to 48 hours of the transmission date. The Company considers all debit and credit card transactions that settle in less than seven days to be cash and cash equivalents. Amounts due from the banks for these transactions classified as cash equivalents totaled $7.2 million and $7.9 million at December 31, 2021 and 2020, respectively. |
Credit Programs | Credit Programs Credit is offered to the Company’s customers through a credit card, underwritten by a third-party financial institution and at no recourse to the Company. A credit line is offered to the Company’s professional customers through the LL Flooring Commercial Credit Program. This commercial credit program is underwritten by a third-party financial institution, generally with no recourse to the Company. As part of the credit program, the Company’s customers may tender their LL Flooring credit card to receive installation services. As of December 31, 2021, the Company utilized a network of associates to perform certain customer-facing, consultative services and coordinate the installation of its flooring products by third-party independent contractors in all of its stores. |
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 approximates fair value because of the short-term nature of these items. |
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 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. Merchandise inventories as of both December 31, 2021, and 2020 were below historic levels as a result of supply chain constraints and COVID-19. The Company plans to return to more historic levels of merchandise inventory in 2022. Inventory cost includes the costs of bringing an article to its existing condition and location such as shipping and handling and import tariffs. The Company maintains an inventory reserve for loss or obsolescence based on historical results and current sales trends. This reserve was $5.6 million and $6.7 million at December 31, 2021 and 2020, respectively. Included in merchandise inventories are tariff related costs, including Section 301 tariffs on certain products imported from China in recent years. A subset of these imports for certain click vinyl and other engineered products (the “Subset Products”) received an exemption that was made retroactive to the beginning of the Section 301 Tariffs for a period of time. The Company has deployed strategies to mitigate tariffs and improve gross margin, including alternative country sourcing, partnering with current vendors to lower costs and introduce new products, and adjusting its pricing. |
Impairment of Long-Lived Assets | Impairment of Long-Lived Assets The Company evaluates potential impairment losses on long-lived assets and right-of-use assets used in operations when events and circumstances indicate that the assets may be impaired, and the undiscounted cash flows estimated to be generated by those assets are less than the carrying amounts of those assets. If impairment exists an impairment loss is recorded based on the difference between the carrying value and fair value of the assets. The Company recorded a |
Goodwill and Other Indefinite-Lived Intangibles | Goodwill and Other Indefinite-Lived Intangibles Goodwill represents the costs in excess of the fair value of net assets acquired associated with acquisitions by the Company. The Company evaluates goodwill for impairment on an annual basis, or whenever events or changes in circumstance indicate that the asset carrying value for the reporting unit exceeds its fair value. Based on the analysis performed, the Company has concluded that impairment in the value of goodwill has occurred. |
Self-Insurance | Self-Insurance The Company is self-insured for certain employee health benefit claims and for certain workers’ compensation claims. The Company estimates a liability for aggregate losses below stop-loss coverage limits based on estimates of the ultimate costs to be incurred to settle known claims and claims incurred but not reported as of the balance sheet date. The estimated liability is not discounted and is based on a number of assumptions and factors including historical and industry trends and economic conditions. This liability could be affected if future occurrences and claims differ from these assumptions and historical trends. As of December 31, 2021 and 2020, the Company had accruals of $3.2 million and $2.9 million, respectively, related to estimated claims included in other current liabilities. |
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 424 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 service 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 consolidated balance sheet caption “Customer Deposits and Store Credits”. The following table shows the activity in this account for the periods noted: Year Ended December 31, 2021 2020 2019 Customer Deposits and Store Credits, Beginning Balance $ (61,389) $ (41,571) $ (40,332) New Deposits (1,238,157) (1,191,673) (1,163,691) Recognition of Revenue 1,152,344 1,097,702 1,092,602 Sales Tax included in Customer Deposits 69,860 68,681 67,029 Other 10,279 5,472 2,821 Customer Deposits and Store Credits, Ending Balance $ (67,063) $ (61,389) $ (41,571) Subject to the Company’s policy, return of unopened merchandise is generally accepted for 90 days, subject to the discretion of the store manager. 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 consolidated balance sheet. 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 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: Year Ended December 31, 2021 2020 2019 Manufactured Products 1 $ 531,947 46 % $ 505,333 46 % $ 452,914 41 % Solid and Engineered Hardwood 291,458 25 % 299,012 27 % 319,582 29 % Moldings and Accessories and Other 170,538 15 % 170,484 16 % 183,545 17 % Installation and Delivery Services 158,401 14 % 122,873 11 % 136,561 13 % Total $ 1,152,344 100 % $ 1,097,702 100 % $ 1,092,602 100 % 1 Includes laminate, vinyl, engineered vinyl plank and porcelain tile. |
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 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. |
Advertising Costs | Advertising costs charged to selling, general and administrative (“SG&A”) expenses, net of vendor allowances, were $62 million, $62 million and $75 million in 2021, 2020 and 2019, respectively. The Company uses various types of media to brand its name and advertise its products. Media production costs are generally expensed as incurred, except for direct mail, which is expensed when the finished piece enters the postal system. Media placement costs are generally expensed in the month the advertising occurs, except for contracted endorsements and sports agreements, which are generally expensed ratably over the contract period. Amounts paid in advance are included in prepaid expenses and totaled $1 million and $0.4 million at December 31, 2021 and 2020, respectively. |
Store Opening Costs | Store Opening Costs Costs to open new store locations are charged to SG&A expenses as incurred, net of any vendor support. |
Other Vendor Consideration | Other Vendor Consideration Consideration from non-merchandise vendors, including royalties and rebates, are generally recorded as an offset to SG&A expenses when earned. |
Depreciation and Amortization | Depreciation and Amortization Property and equipment is carried at cost and depreciated on the straight-line method over the estimated useful lives. The estimated useful lives for leasehold improvements are the shorter of the estimated useful lives or the remainder of the lease terms. For leases with optional renewal periods for which renewal is not reasonably certain, the Company uses the original lease term, excluding optional renewal periods, to determine the appropriate estimated useful lives. Capitalized software costs are capitalized from the time that technological feasibility is established until the software is ready for use. The estimated useful lives are generally as follows: Years Buildings and Building Improvements 7 to 40 Property and Equipment 3 to 10 Computer Software and Hardware 3 to 10 Leasehold Improvements 1 to 10 |
Leases | Leases The Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets and operating lease liabilities on the consolidated balance sheet. The operating lease ROU assets and operating lease liabilities are recognized as the present value of the future minimum lease payments over the lease term at commencement date. As most of the leases do not provide an implicit rate, the Company used its incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. The operating lease ROU asset also is adjusted for any lease payments made and excludes lease incentives and initial direct costs incurred. The Company’s lease terms may include options to extend or terminate the lease at certain dates, typically at the Company’s own discretion. The Company regularly evaluates the renewal options and when they are reasonably certain of exercise, the Company includes the renewal period in its lease term. Many of the Company’s leases include both lease (e.g., payments including rent, taxes, and insurance costs) and non-lease components (e.g., common-area or other maintenance costs) which are accounted for as a single lease component as the Company has elected the practical expedient to group lease and non-lease components for all leases. Lease expense for minimum lease payments is recognized on a straight-line basis over the term of the agreement. The Company made an accounting policy election that payments under agreements with an initial term of 12 months or less will not be included on the consolidated balance sheet but will be recognized in the consolidated statements of income on a straight-line basis over the term of the agreement. 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 consolidated balance sheet is the remaining 2020. The deferred payments will be made in accordance with each concession agreement for periods up the remainder of the lease term. |
Stock-Based Compensation | Stock-Based Compensation The Company records compensation expense associated with stock options and other forms of equity compensation in accordance with ASC 718. The Company may issue incentive awards, including performance-based awards, in the form of stock options, restricted shares and other equity awards to employees, non-employee directors and other service providers. The Company recognizes expense for the majority of its stock-based compensation based on the fair value of the awards that are granted. For awards granted to non-employee directors, expense is recognized based on the fair value of the award at the end of a reporting period. For performance-based awards granted to certain members of senior management, the Company recognizes expense after assessing the probability of the achievement of certain financial metrics on a periodic basis. Compensation expense is recognized only for those awards expected to vest, with forfeitures estimated at the date of grant based on historical experience and future expectations. Measured compensation cost is recognized ratably over the requisite service period of the entire related stock-based compensation award. |
Business Interruption Insurance Proceeds | Business Interruption Insurance Proceeds In August 2019, the Company experienced a network security incident caused by malware that prevented access to several of the Company’s information technology systems and data. In 2020 the company recorded |
Foreign Currency Translation | Foreign Currency Translation The Company’s former Canadian operations used the Canadian dollar as the functional currency. Assets and liabilities were translated at exchange rates in effect at the balance sheet date. Revenues and expenses were translated at the average monthly exchange rates during the year. Resulting translation adjustments have been recorded as a component of accumulated other comprehensive income on the consolidated balance sheets. As discussed in Note 11 to the consolidated financial statements, we closed all our stores in Canada in December 2020. The Company realized expense of |
Income Taxes | Income Taxes Income taxes are accounted for in accordance with ASC 740 (“ASC 740”). Income taxes are provided for under the asset and liability method and consider differences between the tax and financial accounting bases. The tax effects of these differences are reflected on the consolidated balance sheets as deferred income taxes and measured using the effective tax rate expected to be in effect when the differences reverse. ASC 740 also requires that deferred tax assets be reduced by a valuation allowance if it is more likely than not that some portion of the deferred tax asset will not be realized. In evaluating the need for a valuation allowance, the Company takes into account various factors, including the nature, frequency and severity of current and cumulative losses, expected level of future taxable income, the duration of statutory carryforward periods and tax planning alternatives. In future periods, any valuation allowance will be re-evaluated in accordance with ASC 740, and a change, if required, will be recorded through income tax expense in the period such determination is made. The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the relevant taxing authorities, based on the technical merits of its position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The Company classifies interest and penalties related to income tax matters as a component of income tax expense. |
Net Income per Common Share | Net Income per Common Share Basic net income per common share is determined by dividing net income by the weighted average number of common shares outstanding during the year. Diluted net income per common share is determined by dividing net income by the weighted average number of common shares outstanding during the year, plus the dilutive effect of common stock equivalents, including stock options and restricted shares. Common stock and common stock equivalents included in the computation represent shares issuable upon assumed exercise of outstanding stock options and release of restricted shares, except when the effect of their inclusion would be antidilutive. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
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: Year Ended December 31, 2021 2020 2019 Customer Deposits and Store Credits, Beginning Balance $ (61,389) $ (41,571) $ (40,332) New Deposits (1,238,157) (1,191,673) (1,163,691) Recognition of Revenue 1,152,344 1,097,702 1,092,602 Sales Tax included in Customer Deposits 69,860 68,681 67,029 Other 10,279 5,472 2,821 Customer Deposits and Store Credits, Ending Balance $ (67,063) $ (61,389) $ (41,571) |
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: Year Ended December 31, 2021 2020 2019 Manufactured Products 1 $ 531,947 46 % $ 505,333 46 % $ 452,914 41 % Solid and Engineered Hardwood 291,458 25 % 299,012 27 % 319,582 29 % Moldings and Accessories and Other 170,538 15 % 170,484 16 % 183,545 17 % Installation and Delivery Services 158,401 14 % 122,873 11 % 136,561 13 % Total $ 1,152,344 100 % $ 1,097,702 100 % $ 1,092,602 100 % 1 Includes laminate, vinyl, engineered vinyl plank and porcelain tile. |
Estimated Useful Lives of Property Plant and Equipment | Years Buildings and Building Improvements 7 to 40 Property and Equipment 3 to 10 Computer Software and Hardware 3 to 10 Leasehold Improvements 1 to 10 |
Property and Equipment (Tables)
Property and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Property and Equipment [Abstract] | |
Schedule of Property and Equipment | Property and equipment consisted of: December 31, 2021 2020 Land $ 4,937 $ 4,937 Building 44,588 44,527 Property and Equipment 59,322 58,371 Computer Software and Hardware 66,037 61,581 Leasehold Improvement 59,922 55,311 Assets under Construction 3,430 1,508 238,236 226,235 Less: Accumulated Depreciation and Amortization 141,310 128,678 Property and Equipment, net $ 96,926 $ 97,557 |
Other Liabilities (Tables)
Other Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Other Liabilities [Abstract] | |
Other Long-Term Liabilities | Other long-term liabilities consisted of: December 31, 2021 2020 Antidumping and Countervailing Duties Accrual, Including Accrued Interest $ 4,105 $ 10,136 Deferred Payroll Taxes — 2,566 Other 163 591 Other Long Term Liabilities $ 4,268 $ 13,293 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Leases | |
Schedule of cost components of operating leases | The cost components of the Company’s operating leases recorded in SG&A on the consolidated statement of operations were as follows for the periods shown: Year Ended December 31, 2021 Year Ended December 31, 2020 Year Ended December 31, 2019 Store Leases Other Leases Total Store Leases Other Leases Total Store Leases Other Leases Total Operating lease costs $ 33,247 $ 3,898 $ 37,145 $ 33,652 $ 3,905 $ 37,557 $ 32,759 $ 4,078 $ 36,837 Variable lease costs 8,622 1,341 9,963 8,604 771 9,375 8,381 1,007 9,388 Total $ 41,869 $ 5,239 $ 47,108 $ 42,256 $ 4,676 $ 46,932 $ 41,140 $ 5,085 $ 46,225 |
Schedule of other information related to leases | Other information related to leases were as follows: Year Ended December 31, 2021 Year Ended December 31, 2020 Year Ended December 31, 2019 Store Leases Other Leases Total Store Leases Other Leases Total Store Leases Other Leases Total Supplemental Cash Flows Information Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 36,276 $ 4,329 $ 40,605 $ 31,284 $ 4,199 $ 35,483 $ 33,590 $ 4,252 $ 37,842 Right-of-use assets obtained or modified in exchange for operating lease obligations $ 41,407 $ 157 $ 41,564 $ 16,363 $ 1,124 $ 17,487 $ 25,745 $ 9,828 $ 35,573 Weighted Average Remaining Lease Term (years) 4.73 5.94 4.89 4.66 6.63 4.99 4.81 7.60 5.28 Weighted Average Discount Rate 4.9 % 5.3 % 5.0 % 5.7 % 5.3 % 5.6 % 5.8 % 5.5 % 5.7 % |
Schedule of future minimum rental payments under noncancelable operating leases | At December 31, 2021, the future minimum rental payments under non-cancellable operating leases were as follows: Operating Leases Total Other Operating Store Leases Leases Leases 2022 $ 34,080 $ 4,127 $ 38,207 2023 28,578 4,105 32,683 2024 22,148 3,593 25,741 2025 17,149 1,560 18,709 2026 10,788 1,603 12,391 Thereafter 13,803 5,077 18,880 Total minimum lease payments 126,546 20,065 146,611 Less imputed interest (13,586) (2,802) (16,388) Total $ 112,960 $ 17,263 $ 130,223 |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
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 per common share: Year Ended December 31, 2021 2020 2019 Net Income $ 41,698 $ 61,427 $ 9,663 Weighted Average Common Shares Outstanding—Basic 29,041 28,830 28,689 Effect of Dilutive Securities: Common Stock Equivalents 484 417 104 Weighted Average Common Shares Outstanding—Diluted 29,525 29,247 28,793 Net Income per Common Share—Basic $ 1.44 $ 2.13 $ 0.34 Net Income per Common Share—Diluted $ 1.41 $ 2.10 $ 0.34 |
Anti-Dilutive Securities Excluded from Computation of Weighted Average Common Shares Outstanding Diluted | As of December 31, 2021 2020 2019 Stock Options 184 209 604 Restricted Shares 102 118 187 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Stock-Based Compensation [Abstract] | |
Summary of Activity Related to Stock Options | Remaining Weighted Average Aggregate Average Contractual Intrinsic Shares Exercise Price Term (Years) Value Balance, December 31, 2018 732,585 $ 22.97 7.3 $ — Granted 110,535 8.47 Forfeited (149,657) 25.16 Balance, December 31, 2019 693,463 $ 20.18 7.1 $ 144 Granted 236,307 12.00 Exercised (39,824) 17.04 Forfeited (335,990) 18.27 Balance, December 31, 2020 553,956 $ 18.08 7.8 $ 8,508 Granted 111,355 23.49 Exercised (5,798) 10.98 Forfeited (34,586) 16.91 Balance, December 31, 2021 624,927 $ 19.17 7.0 $ 1,979 Exercisable at December 31, 2021 331,123 $ 22.03 5.7 $ 801 Vested and expected to vest December 31, 2021 624,927 $ 19.17 7.0 $ 1,979 |
Ranges of Assumptions | Year Ended December 31, 2021 2020 2019 Expected dividend rate — % — % — % Expected stock price volatility 65 % 57 % 55 % Risk-free interest rate 1.0 % 1.1 % 2.1 % Expected term of options 5.5 years 5.5 years 5.5 years |
Summary of Activity Related to Restricted Stock Awards | Weighted Average Grant Date Fair Shares Value Nonvested, December 31, 2018 487,212 $ 20.54 Granted 661,784 10.35 Released (130,721) 11.09 Forfeited (107,309) 14.71 Nonvested, December 31, 2019 910,966 $ 15.18 Granted 474,877 10.53 Released (230,696) 12.85 Forfeited (283,121) 13.70 Nonvested, December 31, 2020 872,026 $ 15.18 Granted 285,317 22.76 Released (300,915) 13.05 Forfeited (95,513) 14.49 Nonvested, December 31, 2021 760,915 $ 17.31 |
Taxes (Tables)
Taxes (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Income Taxes [Abstract] | |
Components of (Loss) Income Before Income Taxes | Year Ended December 31, 2021 2020 2019 United States $ 52,780 $ 55,874 $ 13,830 Foreign 10 (2,234) (878) Total Income before Income Taxes $ 52,790 $ 53,640 $ 12,952 |
(Benefit) Provision for Income Taxes | Year Ended December 31, 2021 2020 2019 Current Federal $ 9,444 $ 1,868 $ 2,550 State 1,290 2,315 1,015 Foreign 82 67 90 Total Current 10,816 4,250 3,655 Deferred Federal 961 (9,671) (203) State (685) (2,366) (163) Total Deferred 276 (12,037) (366) Income Tax Expense (Benefit) $ 11,092 $ (7,787) $ 3,289 |
Reconciliation of Significant Differences Between Income Tax Expenses Applying Federal Statutory Rate to Actual Income Tax Expense at Effective Rate | A reconciliation to the statutory tax rate is as follows: Year Ended December 31, 2021 2020 2019 Income Tax Expense at Federal Statutory Rate $ 11,088 21.0 % $ 11,264 21.0 % $ 2,720 21.0 % Increases (Decreases): State Income Taxes, Net of Federal Income Tax Benefit 2,086 4.0 % 1,949 3.6 % 425 3.3 % Change in Valuation Allowance and Loss Carryforwards (2,698) (5.1) % (21,363) (39.8) % 668 5.2 % Foreign Operations 365 0.7 % 2,431 4.5 % 90 0.7 % Uncertain Tax Positions 242 0.4 % — — % 174 1.3 % Non-Deductible Fines and Penalties — — % 2 — % 6 — % CARES Act Rate Differential — — % (1,751) (3.3) % — — % Other 9 — % (319) (0.5) % (794) (6.1) % Income Tax Expense (Benefit) $ 11,092 21.0% % $ (7,787) (14.5) % $ 3,289 25.4 % |
Tax Effects of Temporary Differences that Result in Significant Portions of Deferred Tax Accounts | December 31, 2021 2020 Deferred Tax Liabilities: Operating Lease Right-of-Use Assets $ (31,374) $ (28,579) Depreciation and Amortization and Other (14,324) (14,532) Total Gross Deferred Tax Liabilities (45,698) (43,111) Deferred Tax Assets: Operating Lease Liabilities 34,021 31,365 Stock-Based Compensation Expense 2,381 2,155 Legal Settlement Reserves 8,850 7,998 Other Accruals and Reserves 2,809 4,718 Employee Benefits 2,117 3,616 Inventory Reserves 927 1,241 Inventory Capitalization 4,088 2,790 Foreign Net Operating Loss Carryforwards 2,405 2,674 Net Operating Loss Carryforwards 1,186 250 Capital Loss Carryforwards and Other 655 3,538 Total Gross Deferred Tax Assets 59,439 60,345 Less: Valuation Allowance (2,405) (5,623) Total Deferred Tax Assets 57,034 54,722 Net Deferred Tax Asset $ 11,336 $ 11,611 |
Reconciliation of the Beginning and Ending Amount of Gross Unrecognized Tax Benefits, Excluding Interest and Penalties | Year Ended December 31, 2021 2020 Balance at beginning of year $ 225 $ 225 Increase for tax positions related to current year 375 — Decrease for tax positions related to prior years (133) — Settlements (92) — Balance at end of year $ 375 $ 225 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Commitments and Contingencies [Abstract] | |
Schedule of activity related to the Balance Sheet Accrual for Legal Matters and Settlements | January 1, 2021 December 31, 2021 Litigation Matter Accrual for Legal Matters Settlement Vouchers Accrual for Legal Matters Description and Settlements - Current Accruals Payments Redeemed and Settlements - Current MDL $ 14,000 $ — $ — $ (3,344) $ 10,656 Mason — 7,000 — — 7,000 Gold 16,000 — — (1,115) 14,885 Other Matters 398 773 (101) — 1,070 $ 30,398 $ 7,773 $ (101) $ (4,459) $ 33,611 January 1, 2020 December 31, 2020 Litigation Matter Accrual for Legal Matters Settlement Vouchers Accrual for Legal Matters Description and Settlements - Current Accruals Payments Redeemed and Settlements - Current MDL $ 35,500 $ — $ (21,500) 1 $ — $ 14,000 Gold 27,000 2,000 (13,000) — 16,000 Kramer 4,750 — (4,750) — — Other Matters 221 507 (330) — 398 $ 67,471 $ 2,507 $ (39,580) $ — $ 30,398 1 $21.5 million was paid into an escrow account for MDL in 2019 and recorded as “Deposit Legal Settlement” on the consolidated balance sheet. In the fourth quarter of 2020, the liability and deposit were relieved as the funds were distributed. |
Schedule of Other Commitments | Review Rates at which December 31, 2021 Period 1 Period Covered Company Final Rate Receivable/Liability Deposited Balance Antidumping 1 May 2011 through 6.78% and 3.3% 0.73% 2 $1.3 million November 2012 receivable 2 2 December 2012 through 3.30% 3.92% 3 $0.2 million November 2013 liability 3 3 December 2013 through 3.3% and 5.92% 0.0% 4 $1.8 million November 2014 recievable 4 6 December 2016 through 17.37% and 0.00% 42.57% and 0.0% 5 $0.5 million receivable November 2017 $1.5 million liability 5 7 December 2017 through 0.00% 0.0% 6 NA November 2018 8 December 2018 through 0.00% 0.0% 7 NA November 2019 9 December 2019 through 0.00% 0.0% 8 NA November 2020 Included on the Consolidated Balance Sheet in Other Current Assets $2.3 million Included on the Consolidated Balance Sheet in Other Assets $1.3 million Included on the Consolidated Balance Sheet in Other Current Liabilities $0.2 million Included on the Consolidated Balance Sheet in Other Long-Term Liabilities $1.5 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% $0.04 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% 9 $0.07 million 9 6 January 2016 through 0.99% and 1.38% Final at 3.10% and 2.96% 10 $0.04 million 10 7 January 2017 through 1.38% and 1.06% 20.75% 11 $1.7 million 11 8 January 2018 through 1.06% 6.13% 12 $0.3 million 12 9 January 2019 through 0.00%, 0.85%, 2.96% 5.50% / 15.71% 13 NA Included on the Consolidated Balance Sheet in Other Current Assets $0.07 million Included on the Consolidated Balance Sheet in Other Assets $0.3 million Included on the Consolidated Balance Sheet in Other Current Liabilities $0.04 million Included on the Consolidated Balance Sheet in Other Long-Term Liabilities $2.0 million 1 The fourth and fifth annual anti-dumping review periods have been settled and are no longer included on the chart above. 2 In the second quarter of 2018, the Court of International Trade (“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 . 3 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% ). The recommendation was accepted by the CIT in the fourth quarter of 2020, and the Company reversed $3.9 million of its $4.1 million liability, with a corresponding reduction of cost of sales. 4 In the third quarter of 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% . The recommendation was accepted by the CIT in the first quarter of 2021, and the Company reversed the entire $4.7 million liability, with a corresponding reduction of cost of sales, and recorded a $1.8 million receivable and favorable adjustment to cost of sales for deposits made at previous preliminary rates. 5 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 0.0% and the remaining balance of $0.5 million as of June 30, 2021 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 December 31, 2021 was included in other long-term liabilities on the condensed consolidated balance sheet. 6 In the first quarter of 2020, the DOC issued a final rate of 0.0% for the seventh annual review period. The final rate is currently under appeal. 7 In April 2021, the DOC issued a preliminary rate of 0.0% for the eighth annual review period. This rate was finalized at 0.0% in October 2021. 8 In the fourth quarter of 2021, the DOC issued a preliminary rate of 0.0% for the ninth annual review period. 9 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 $0.07 million for deposits made at previous preliminary rates, with a corresponding reduction of cost of sales. 10 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 December 31, 2021. 11 In the fourth quarter of 2020, the DOC issued the final rate 20.75% for the seventh annual review period. As a result, the Company recorded a liability of $1.7 million with a corresponding increase to cost of sales during the year ended December 31, 2020. The Company has appealed this final rate during the first quarter of 2021. 12 In October 2021, the DOC issued the final rate of 6.13% for the eighth annual review period . As a result, in October 2021 the Company recorded a $0.3 million liability with a corresponding increase in cost of sales. 13 In the fourth quarter of 2021, the DOC issued preliminary rates of 5.5% and 15.71% for the ninth annual review period. If the preliminary rates remain at 5.5% and 15.71% , the Company will record a liability of $0.2 million in the period in which the ruling is finalized. |
Canadian and U.S. Store Closu_2
Canadian and U.S. Store Closure Costs (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Canadian and U.S. Store Closure Costs [Abstract] | |
Summary of Store Exit Costs Incurred | A summary of the store closure costs incurred during 2020 is as follows: Year Ended December 31, 2020 Cost of Merchandise Sold: Inventory write-down and other inventory adjustments $ 822 Cost of Merchandise Sold Subtotal 822 Selling, General, & Administrative Expenses: Employee termination benefits 411 Write-downs of lease and fixed assets 1,362 Reclassification of Foreign Currency Translation to Earnings 757 Other SG&A store closure costs 432 Selling, General, & Administrative Expenses Subtotal 2,962 Total Store Closure Costs $ 3,784 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies (Narrative) (Details) | 12 Months Ended | ||
Dec. 31, 2021USD ($)storestate | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | |
Organization And Business Operations [Line Items] | |||
Number of states in which stores operates | state | 47 | ||
Cash and Cash Equivalents | $ 85,189,000 | $ 169,941,000 | |
Cash equivalents | 85,000,000 | 170,000,000 | |
Due from Banks | 7,200,000 | 7,900,000 | |
Inventory valuation reserves | 5,600,000 | 6,700,000 | |
Tariff Recovery Receivable | 4,078,000 | ||
Long-lived asset impairment charge | 0 | 900,000 | $ 0 |
Goodwill impairment | 0 | ||
Current self insurance reserve | $ 3,200,000 | 2,900,000 | |
Minimum years of product warranty | 1 year | ||
Maximum years of product warranty | 100 years | ||
Right to recover merchandise asset | $ 1,300,000 | 1,300,000 | |
Product warranty reserve | 900,000 | 1,100,000 | |
Advertising expense | 62,000,000 | 62,000,000 | $ 75,000,000 |
Prepaid advertising | 1,000,000 | 400,000 | |
Deferred Income Tax Assets, Net | 11,336,000 | 11,611,000 | |
Deferred Tax Liabilities, Gross | 45,698,000 | 43,111,000 | |
Proceeds received from final settlement of business interruption insurance claim | 2,500,000 | ||
Reclassification of Canada currency translation to earnings | 757,000 | ||
Repayments of Debt | 101,000,000 | ||
Operating Lease, Deferred Rent Current | $ 600,000 | 2,900,000 | |
U.S. | |||
Organization And Business Operations [Line Items] | |||
Number of stores | store | 424 | ||
Short-term Investments [Member] | |||
Organization And Business Operations [Line Items] | |||
Cash equivalents | $ 0 | $ 0 |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies (Schedule of Deferred Revenues) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Customer Deposits and Store Credits, Beginning Balance | $ (61,389) | ||
Recognition of Revenue | 1,152,344 | $ 1,097,702 | $ 1,092,602 |
Customer Deposits and Store Credits, Ending Balance | (67,063) | (61,389) | |
Net Services Sales | |||
Recognition of Revenue | 158,401 | 122,873 | 136,561 |
Customer Deposits and Store Credits [Member] | |||
Customer Deposits and Store Credits, Beginning Balance | (61,389) | (41,571) | (40,332) |
New Deposits | (1,238,157) | (1,191,673) | (1,163,691) |
Recognition of Revenue | 1,152,344 | 1,097,702 | 1,092,602 |
Sales Tax included in Customer Deposits | 69,860 | 68,681 | 67,029 |
Other | 10,279 | 5,472 | 2,821 |
Customer Deposits and Store Credits, Ending Balance | $ (67,063) | $ (61,389) | $ (41,571) |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies (Sales Mix by Major Product) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Product Information [Line Items] | |||
Net Sales | $ 1,152,344 | $ 1,097,702 | $ 1,092,602 |
Sales Revenue, Product Line [Member] | |||
Product Information [Line Items] | |||
Net Sales | 1,152,344 | 1,097,702 | 1,092,602 |
Product [Member] | |||
Product Information [Line Items] | |||
Net Sales | $ 993,943 | $ 974,829 | $ 956,041 |
Product [Member] | Sales Revenue, Product Line [Member] | Product Concentration Risk [Member] | |||
Product Information [Line Items] | |||
Percent | 100.00% | 100.00% | 100.00% |
Manufactured Products | Sales Revenue, Product Line [Member] | |||
Product Information [Line Items] | |||
Net Sales | $ 531,947 | $ 505,333 | $ 452,914 |
Manufactured Products | Sales Revenue, Product Line [Member] | Product Concentration Risk [Member] | |||
Product Information [Line Items] | |||
Percent | 46.00% | 46.00% | 41.00% |
Solid and Engineered Hardwood [Member] | Sales Revenue, Product Line [Member] | |||
Product Information [Line Items] | |||
Net Sales | $ 291,458 | $ 299,012 | $ 319,582 |
Solid and Engineered Hardwood [Member] | Sales Revenue, Product Line [Member] | Product Concentration Risk [Member] | |||
Product Information [Line Items] | |||
Percent | 25.00% | 27.00% | 29.00% |
Moldings and Accessories [Member] | Sales Revenue, Product Line [Member] | |||
Product Information [Line Items] | |||
Net Sales | $ 170,538 | $ 170,484 | $ 183,545 |
Moldings and Accessories [Member] | Sales Revenue, Product Line [Member] | Product Concentration Risk [Member] | |||
Product Information [Line Items] | |||
Percent | 15.00% | 16.00% | 17.00% |
Installation and Delivery Services | Sales Revenue, Product Line [Member] | |||
Product Information [Line Items] | |||
Net Sales | $ 158,401 | $ 122,873 | $ 136,561 |
Installation and Delivery Services | Sales Revenue, Product Line [Member] | Product Concentration Risk [Member] | |||
Product Information [Line Items] | |||
Percent | 14.00% | 11.00% | 13.00% |
Summary of Significant Accoun_7
Summary of Significant Accounting Policies (Estimated Useful Lives) (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Property and Equipment [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, plant and equipment, useful life | 3 years |
Property and Equipment [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, plant and equipment, useful life | 10 years |
Building and Building Improvements [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, plant and equipment, useful life | 7 years |
Building and Building Improvements [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, plant and equipment, useful life | 40 years |
Computer Software and Hardware [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, plant and equipment, useful life | 3 years |
Computer Software and Hardware [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, plant and equipment, useful life | 10 years |
Leasehold Improvement [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, plant and equipment, useful life | 1 year |
Leasehold Improvement [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Property, plant and equipment, useful life | 10 years |
Property and Equipment (Narrati
Property and Equipment (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Property and Equipment [Abstract] | |||
Capitalized Computer Software, Gross | $ 51 | $ 48 | |
Capitalized Computer Software, Amortization | $ 4.4 | $ 4.4 | $ 4.6 |
Property and Equipment (Schedul
Property and Equipment (Schedule of Property and Equipment) (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Property, Plant and Equipment [Line Items] | ||
Property and Equipment, Gross | $ 238,236 | $ 226,235 |
Less: Accumulated Depreciation and Amortization | 141,310 | 128,678 |
Property and Equipment, net | 96,926 | 97,557 |
Land [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and Equipment, Gross | 4,937 | 4,937 |
Building [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and Equipment, Gross | 44,588 | 44,527 |
Property and Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and Equipment, Gross | 59,322 | 58,371 |
Computer Software and Hardware [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and Equipment, Gross | 66,037 | 61,581 |
Leasehold Improvement [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and Equipment, Gross | 59,922 | 55,311 |
Asset under Construction [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and Equipment, Gross | $ 3,430 | $ 1,508 |
Other Liabilities (Other Long-T
Other Liabilities (Other Long-Term Liabilities) (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 |
Other Liabilities [Abstract] | ||
Antidumping and Countervailing Duties Accrual, Including Accrued Interest | $ 4,105 | $ 10,136 |
Deferred Payroll Taxes | 2,566 | |
Other | 163 | 591 |
Other Long Term Liabilities | $ 4,268 | $ 13,293 |
Other Liabilities (Narrative) (
Other Liabilities (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Debt Instrument [Line Items] | |||
Deferred Payroll Taxes | $ (2,542) | $ 5,131 | |
Income Taxes Paid, Net | 11,000 | 10,000 | $ 200 |
Deferred Payroll Taxes | $ 2,566 | ||
To Be Paid By End of 2021 [Member] | |||
Debt Instrument [Line Items] | |||
Deferred Payroll Taxes | 2,500 | ||
To Be Paid By End of 2022 [Member] | |||
Debt Instrument [Line Items] | |||
Deferred Payroll Taxes, current | $ 2,600 |
Credit Agreement (Narrative) (D
Credit Agreement (Narrative) (Details) - USD ($) | 4 Months Ended | 8 Months Ended | 12 Months Ended | |||
Apr. 29, 2021 | Dec. 31, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Apr. 30, 2021 | |
Line of Credit Facility [Line Items] | ||||||
Payments on Credit Agreement | $ 101,000,000 | $ 26,000,000 | $ 87,500,000 | |||
Second Amendment | ||||||
Line of Credit Facility [Line Items] | ||||||
Percent Decrease in interest rate from amendment | 1.25% | |||||
Revolving Credit Facility [Member] | ||||||
Line of Credit Facility [Line Items] | ||||||
Letters of credit outstanding | $ 0 | 0 | ||||
Credit facility remaining borrowing capacity | 142,300,000 | 142,300,000 | ||||
Payments on Credit Agreement | 101,000,000 | |||||
Revolving Credit Facility [Member] | Credit Agreement [Member] | ||||||
Line of Credit Facility [Line Items] | ||||||
Credit facility, unused capacity, commitment fee percentage | 0.50% | |||||
Line of Credit Covenant Trigger | $ 17,500,000 | $ 17,500,000 | ||||
Line of credit covenant trigger percentage | 10.00% | 10.00% | ||||
Revolving Credit Facility [Member] | Second Amendment | ||||||
Line of Credit Facility [Line Items] | ||||||
Maximum borrowing capacity | $ 200,000,000 | |||||
Credit facility, unused capacity, commitment fee percentage | 0.25% | |||||
Option to increase aggregate amount | $ 250,000,000 | |||||
Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Credit Agreement [Member] | ||||||
Line of Credit Facility [Line Items] | ||||||
Margin (as a percent) | 1.25% | |||||
Libor Floor Rate | 1.00% | |||||
Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Second Amendment | ||||||
Line of Credit Facility [Line Items] | ||||||
Margin (as a percent) | 1.75% | |||||
Libor Floor Rate | 0.25% | |||||
Letter of Credit [Member] | Credit Agreement [Member] | ||||||
Line of Credit Facility [Line Items] | ||||||
Letters of credit outstanding | $ 3,000,000 | $ 3,000,000 |
Leases (Narrative) (Details)
Leases (Narrative) (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021USD ($)item | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | |
Property, Plant and Equipment [Line Items] | |||
Rent Expense | $ | $ 37 | $ 37 | $ 37 |
Store Leases | |||
Property, Plant and Equipment [Line Items] | |||
Option to renew | true | ||
Store Leases | Minimum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Term | 5 years | ||
Number of renewal periods, minimum | item | 1 | ||
Store Leases | Maximum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Term | 7 years |
Leases - Cost components (Detai
Leases - Cost components (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Cost components: | |||
Operating lease costs | $ 37,145 | $ 37,557 | $ 36,837 |
Variable lease costs | 9,963 | 9,375 | 9,388 |
Total | 47,108 | 46,932 | 46,225 |
Store Leases | |||
Cost components: | |||
Operating lease costs | 33,247 | 33,652 | 32,759 |
Variable lease costs | 8,622 | 8,604 | 8,381 |
Total | 41,869 | 42,256 | 41,140 |
Other Leases | |||
Cost components: | |||
Operating lease costs | 3,898 | 3,905 | 4,078 |
Variable lease costs | 1,341 | 771 | 1,007 |
Total | $ 5,239 | $ 4,676 | $ 5,085 |
Leases cost - Other information
Leases cost - Other information related to leases (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Lessee, Lease, Description [Line Items] | |||
Operating cash flows from operating leases | $ 40,605 | $ 35,483 | $ 37,842 |
Right-of-use assets obtained or modified in exchange for operating lease obligations | $ 41,564 | $ 17,487 | $ 35,573 |
Weighted Average Remaining Lease Term (years) | 4 years 10 months 20 days | 4 years 11 months 26 days | 5 years 3 months 10 days |
Weighted Average Discount Rate | 5.00% | 5.60% | 5.70% |
Store Leases | |||
Lessee, Lease, Description [Line Items] | |||
Operating cash flows from operating leases | $ 36,276 | $ 31,284 | $ 33,590 |
Right-of-use assets obtained or modified in exchange for operating lease obligations | $ 41,407 | $ 16,363 | $ 25,745 |
Weighted Average Remaining Lease Term (years) | 4 years 8 months 23 days | 4 years 7 months 28 days | 4 years 9 months 21 days |
Weighted Average Discount Rate | 4.90% | 5.70% | 5.80% |
Other Leases | |||
Lessee, Lease, Description [Line Items] | |||
Operating cash flows from operating leases | $ 4,329 | $ 4,199 | $ 4,252 |
Right-of-use assets obtained or modified in exchange for operating lease obligations | $ 157 | $ 1,124 | $ 9,828 |
Weighted Average Remaining Lease Term (years) | 5 years 11 months 8 days | 6 years 7 months 17 days | 7 years 7 months 6 days |
Weighted Average Discount Rate | 5.30% | 5.30% | 5.50% |
Leases - Future minimum rental
Leases - Future minimum rental payments under non-cancellable operating leases (Details) $ in Thousands | Dec. 31, 2020USD ($) |
Future minimum rental payments under non-cancellable operating leases: | |
2022 | $ 38,207 |
2023 | 32,683 |
2024 | 25,741 |
2025 | 18,709 |
2026 | 12,391 |
Thereafter | 18,880 |
Total future minimum lease payments | 146,611 |
Less imputed interest | (16,388) |
Total | 130,223 |
Store Leases | |
Future minimum rental payments under non-cancellable operating leases: | |
2022 | 34,080 |
2023 | 28,578 |
2024 | 22,148 |
2025 | 17,149 |
2026 | 10,788 |
Thereafter | 13,803 |
Total future minimum lease payments | 126,546 |
Less imputed interest | (13,586) |
Total | 112,960 |
Other Leases | |
Future minimum rental payments under non-cancellable operating leases: | |
2022 | 4,127 |
2023 | 4,105 |
2024 | 3,593 |
2025 | 1,560 |
2026 | 1,603 |
Thereafter | 5,077 |
Total future minimum lease payments | 20,065 |
Less imputed interest | (2,802) |
Total | $ 17,263 |
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 | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Stockholders' Equity [Abstract] | |||
Net Income (Loss) | $ 41,698 | $ 61,427 | $ 9,663 |
Weighted Average Common Shares Outstanding-Basic | 29,041 | 28,830 | 28,689 |
Effect of Dilutive Securities: | |||
Common Stock Equivalents | 484 | 417 | 104 |
Weighted Average Common Shares Outstanding-Diluted | 29,525 | 29,247 | 28,793 |
Net Income per Common Share-Basic | $ 1.44 | $ 2.13 | $ 0.34 |
Net Income per Common Share-Diluted | $ 1.41 | $ 2.10 | $ 0.34 |
Stockholders' Equity (Anti-Dilu
Stockholders' Equity (Anti-Dilutive Securities Excluded from Computation of Weighted Average Common Shares Outstanding-Diluted) (Details) - shares shares in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 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 | 184 | 209 | 604 |
Restricted Shares [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Anti-dilutive securities excluded from computation of earning per share | 102 | 118 | 187 |
Stockholders' Equity (Narrative
Stockholders' Equity (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Feb. 28, 2022 | |
Stockholders' Equity [Abstract] | ||||
Stock repurchase program, authorized amount | $ 50 | |||
Common stock repurchased, remaining authorized amount | $ 14.7 | |||
Shares repurchased | 0 | 0 | 0 |
Stock Based Compensation (Narra
Stock Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||
Stock options exercised intrinsic value | $ 35 | $ 500 | $ 0 |
Unrecognized compensation cost related to unvested option | $ 1,500 | ||
Weighted average period of recognition | 2 years 6 months | ||
Weighted average fair value of option granted | $ 13.30 | $ 6.20 | $ 4.32 |
Two Thousand And Eleven Plan [Member] | |||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||
Common stock shares authorized for issuance | 7,800,000 | ||
Common stock available for future grant | 2,300,000 | ||
Two Thousand And Eleven Plan [Member] | Maximum [Member] | |||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||
Share based compensation stock options expiration period | 10 years | ||
Non Employee Director [Member] | |||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||
Deferred stock units outstanding | 177,448 | 183,851 | |
Non Employee Director [Member] | Maximum [Member] | |||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||
Deferred percentage of director fees invested in deferred stock units | 100.00% | ||
Restricted Shares [Member] | |||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||
Weighted average period of recognition | 2 years | ||
Fair value of restricted stock awards released | $ 6,800 | $ 2,000 | $ 1,500 |
Unrecognized compensation cost related to unvested restricted stock awards | $ 5,300 | ||
Awards granted | 285,317 | 474,877 | 661,784 |
Forfeited | 95,513 | 283,121 | 107,309 |
Performance-Base Restricted Stock Awards [Member] | |||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||
Awards granted | 47,768 | 94,591 | |
Grant date fair value of awards | $ 1,100 | $ 900 | |
Forfeited | 14,450 | 105,165 |
Stock-Based Compensation (Summa
Stock-Based Compensation (Summary of Activity Related to Stock Options) (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Shares | ||||
Beginning Balance | 553,956 | 693,463 | 732,585 | |
Granted | 111,355 | 236,307 | 110,535 | |
Exercised | (5,798) | (39,824) | ||
Forfeited | (34,586) | (335,990) | (149,657) | |
Ending Balance | 624,927 | 553,956 | 693,463 | 732,585 |
Ending Balance, Exercisable | 331,123 | |||
Ending Balance, Vested and expected to vest | 624,927 | |||
Weighted Average Exercise Price | ||||
Beginning Balance | $ 18.08 | $ 20.18 | $ 22.97 | |
Granted | 23.49 | 12 | 8.47 | |
Exercised | 10.98 | 17.04 | ||
Forfeited | 16.91 | 18.27 | 25.16 | |
Ending Balance | 19.17 | $ 18.08 | $ 20.18 | $ 22.97 |
Ending Balance, Exercisable | 22.03 | |||
Ending Balance, Vested and expected to vest | $ 19.17 | |||
Remaining Average Contractual Term (Years) for outstanding shares | ||||
Remaining Average Contractual Term (Years) Exercisable | 5 years 8 months 12 days | |||
Remaining Average Contractual Term (Years) for outstanding shares | 7 years | 7 years 9 months 18 days | 7 years 1 month 6 days | 7 years 3 months 18 days |
Aggregate Intrinsic Value | ||||
Aggregate Intrinsic Value | $ 1,979 | $ 8,508 | $ 144 | |
Aggregate Intrinsic Value, Exercisable | 801 | |||
Aggregate Intrinsic Value, Vested and expected to vest | $ 1,979 | |||
Restricted Shares [Member] | ||||
Shares | ||||
Beginning Balance | 872,026 | 910,966 | 487,212 | |
Granted | 285,317 | 474,877 | 661,784 | |
Released | (300,915) | (230,696) | (130,721) | |
Forfeited | (95,513) | (283,121) | (107,309) | |
Ending Balance | 760,915 | 872,026 | 910,966 | 487,212 |
Stock-Based Compensation (Range
Stock-Based Compensation (Ranges of Assumptions) (Details) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Stock-Based Compensation [Abstract] | |||
Expected dividend rate | 0.00% | 0.00% | 0.00% |
Expected stock price volatility | 65.00% | 57.00% | 55.00% |
Risk-free interest rate | 1.00% | 1.10% | 2.10% |
Expected term of options | 5 years 6 months | 5 years 6 months | 5 years 6 months |
Stock-Based Compensation (Sum_2
Stock-Based Compensation (Summary of Activity Related to Restricted Stock Awards) (Details) - Restricted Shares [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Weighted Average Grant Date Fair Value | |||
Beginning Balance | $ 15.18 | $ 15.18 | $ 20.54 |
Granted | 22.76 | 10.53 | 10.35 |
Released | 13.05 | 12.85 | 11.09 |
Forfeited | 14.49 | 13.70 | 14.71 |
Ending Balance | $ 17.31 | $ 15.18 | $ 15.18 |
Taxes (Narrative) (Details)
Taxes (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Income Taxes [Line Items] | ||||
Effective tax rate | 21.00% | (14.50%) | 25.40% | |
U.S. Federal corporate tax rate | 21.00% | 21.00% | 21.00% | |
Valuation allowance | $ 5,623 | $ 2,405 | $ 5,623 | $ 27,000 |
Income Tax (Benefit) Expense | 20,000 | 11,092 | (7,787) | 3,289 |
Income tax paid | 11,000 | 10,000 | 200 | |
Unrecognized tax benefits | 225 | 375 | 225 | $ 225 |
Uncertain tax position | 200 | 400 | 200 | |
Net tax expense (benefit) of Tax Act | 1,800 | |||
Reduction of tax expense | 2,400 | |||
Domestic Tax Authority [Member] | ||||
Income Taxes [Line Items] | ||||
Net operating losses carryforwards | 0 | 0 | 0 | |
State and Local Jurisdiction [Member] | ||||
Income Taxes [Line Items] | ||||
Net operating losses carryforwards | 14,000 | 13,000 | 14,000 | |
Foreign Tax Authority [Member] | ||||
Income Taxes [Line Items] | ||||
Net operating losses carryforwards | $ 29,000 | $ 18,000 | $ 29,000 | |
Operating loss carryforwards, expiration year | 2025 |
Taxes (Components of Income (Lo
Taxes (Components of Income (Loss) Before Income Taxes) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Income Taxes [Abstract] | |||
United States | $ 52,780 | $ 55,874 | $ 13,830 |
Foreign | 10 | (2,234) | (878) |
Income Before Income Taxes | $ 52,790 | $ 53,640 | $ 12,952 |
Taxes ((Benefit) Provision for
Taxes ((Benefit) Provision for Income Taxes) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Current | ||||
Federal | $ 9,444 | $ 1,868 | $ 2,550 | |
State | 1,290 | 2,315 | 1,015 | |
Foreign | 82 | 67 | 90 | |
Total Current | 10,816 | 4,250 | 3,655 | |
Deferred | ||||
Federal | 961 | (9,671) | (203) | |
State | (685) | (2,366) | (163) | |
Total Deferred | 276 | (12,037) | (366) | |
Income Tax Expense (Benefit) | $ 20,000 | $ 11,092 | $ (7,787) | $ 3,289 |
Taxes (Effective Income Tax Rec
Taxes (Effective Income Tax Reconciliation) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Income Taxes [Abstract] | ||||
Income Tax Expense (Benefit) at Federal Statutory Rate | $ 11,088 | $ 11,264 | $ 2,720 | |
State Income Taxes, Net of Federal Income Tax Benefit | 2,086 | 1,949 | 425 | |
Change in Valuation Allowance and Loss Carryforwards | (2,698) | (21,363) | 668 | |
Foreign Operations | 365 | 2,431 | 90 | |
Uncertain Tax Positions | 242 | 174 | ||
Non-Deductible Fines and Penalties | 2 | 6 | ||
CARES Act Rate Differential | (1,751) | |||
Other | 9 | (319) | (794) | |
Income Tax Expense (Benefit) | $ 20,000 | $ 11,092 | $ (7,787) | $ 3,289 |
Effective Income Tax Rate Reconciliation, Percent [Abstract] | ||||
Income Tax Expense at Federal Statutory Rate | 21.00% | 21.00% | 21.00% | |
State Income Taxes, Net of Federal Income Tax Benefit | 4.00% | 3.60% | 3.30% | |
Change in Valuation Allowance and Loss Carryforwards | (5.10%) | (39.80%) | 5.20% | |
Foreign Operations | 0.70% | 4.50% | 0.70% | |
Uncertain Tax Positions | 0.40% | 1.30% | ||
CARES Act Rate Differential | (3.30%) | |||
Other | (0.50%) | (6.10%) | ||
Total | 21.00% | (14.50%) | 25.40% |
Taxes (Tax Effects of Temporary
Taxes (Tax Effects of Temporary Differences Result in Significant Portions of Deferred Tax Accounts) (Details) - USD ($) $ in Thousands | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Deferred Tax Liabilities: | |||
Operating Lease Right-of-Use Assets | $ (31,374) | $ (28,579) | |
Depreciation and Amortization and Other | (14,324) | (14,532) | |
Total Gross Deferred Tax Liabilities | (45,698) | (43,111) | |
Deferred Tax Assets: | |||
Operating Lease Liabilities | 34,021 | 31,365 | |
Stock-Based Compensation Expense | 2,381 | 2,155 | |
Legal Settlement Reserves | 8,850 | 7,998 | |
Other Accruals and Reserves | 2,809 | 4,718 | |
Employee Benefits | 2,117 | 3,616 | |
Inventory Reserves | 927 | 1,241 | |
Inventory Capitalization | 4,088 | 2,790 | |
Foreign Net Operating Loss Carryforwards | 2,405 | 2,674 | |
Net Operating Loss Carryforwards | 1,186 | 250 | |
Capital Loss Carryforwards and Other | 655 | 3,538 | |
Total Gross Deferred Tax Assets | 59,439 | 60,345 | |
Less Valuation Allowance | (2,405) | (5,623) | $ (27,000) |
Total Net Deferred Tax Assets | 57,034 | 54,722 | |
Net Deferred Tax Asset | $ 11,336 | $ 11,611 |
Taxes (Reconciliation of Unreco
Taxes (Reconciliation of Unrecognized Tax Benefits) (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2021USD ($) | |
Income Taxes [Abstract] | |
Balance at beginning of year | $ 225 |
Increases for tax positions related to current year | 375 |
Decrease for tax positions related to prior years | (133) |
Settlements | (92) |
Balance at end of year | $ 375 |
401(K) Plan (Narrative) (Detail
401(K) Plan (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | 84 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2021 | |
401(K) Plan [Abstract] | ||||
Eligible service period for profit-sharing plan | 3 months | |||
Eligible service age for profit-sharing plan | 21 years | |||
Employer matching contribution percentage | 100.00% | |||
Employer contribution percentage | 3.00% | |||
Employer matching contribution Additional percentage | 50.00% | |||
Employer contribution Additional percentage | 90.00% | 2.00% | ||
Company matching contribution percentage vested | 100.00% | |||
Company matching contribution to benefit plans | $ 3.3 | $ 3.8 | $ 2.8 |
Commitments and Contingencies_2
Commitments and Contingencies (Narrative) (Details) | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||||
Apr. 30, 2021USD ($) | Dec. 31, 2019USD ($) | Mar. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Sep. 30, 2020USD ($) | Jun. 30, 2020USD ($) | Sep. 30, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Jan. 06, 2021claim | |
Loss Contingencies [Line Items] | |||||||||||||
Payment of litigation settlement | $ 101,000 | $ 18,080,000 | $ 34,729,000 | ||||||||||
Litigation Settlement, Amount | 21,500,000 | ||||||||||||
Accrued expenses | 7,773,000 | 2,507,000 | |||||||||||
Accrual for Legal Matters and Settlements - Current | $ 67,471,000 | $ 30,398,000 | 33,611,000 | 30,398,000 | 67,471,000 | ||||||||
Vouchers Accrued or (Redeemed) During Period | (4,459,000) | ||||||||||||
Gross profit | $ 440,042,000 | $ 427,712,000 | 403,686,000 | ||||||||||
Antidumping Duties [Member] | |||||||||||||
Loss Contingencies [Line Items] | |||||||||||||
Loss Contingency Multilayered Hardwood Products Purchase Percentage | 3.00% | 4.00% | |||||||||||
Antidumping Duties [Member] | Other Current Liabilities | |||||||||||||
Loss Contingencies [Line Items] | |||||||||||||
Contingent Liability | $ 200,000 | ||||||||||||
Antidumping Duties [Member] | Other Expense [Member] | |||||||||||||
Loss Contingencies [Line Items] | |||||||||||||
Interest income | 1,800,000 | $ 600,000 | |||||||||||
Litigation Relating to Formaldehyde Abrasion MDL's [Member] | |||||||||||||
Loss Contingencies [Line Items] | |||||||||||||
Litigation Settlement, Expense | 0 | 0 | |||||||||||
Litigation Settlement, Amount | $ 36,000,000 | ||||||||||||
Accrual for Legal Matters and Settlements - Current | 35,500,000 | 14,000,000 | 10,656,000 | 14,000,000 | 35,500,000 | ||||||||
Vouchers Accrued or (Redeemed) During Period | (3,344,000) | ||||||||||||
Estimated Litigation Liability, Noncurrent | 100,000 | 100,000 | $ 100,000 | ||||||||||
Recovery from insurance carrier | 900,000 | ||||||||||||
Litigation Relating to Formaldehyde Abrasion MDL's [Member] | Accrual for Legal Matters and Settlements Current [Member] | |||||||||||||
Loss Contingencies [Line Items] | |||||||||||||
Estimated Litigation Liability, Noncurrent | 10,700,000 | ||||||||||||
Litigation Relating to Formaldehyde Abrasion MDL's [Member] | Selling, General and Administrative Expenses [Member] | |||||||||||||
Loss Contingencies [Line Items] | |||||||||||||
Gross profit | 1,300,000 | ||||||||||||
Litigation Relating to Bamboo Flooring | |||||||||||||
Loss Contingencies [Line Items] | |||||||||||||
Payment of litigation settlement | 1,000,000 | ||||||||||||
Litigation Settlement, Amount | $ 30,000,000 | ||||||||||||
Vouchers Accrued or (Redeemed) During Period | (1,100,000) | ||||||||||||
Litigation Relating to Bamboo Flooring | Other Current Liabilities | |||||||||||||
Loss Contingencies [Line Items] | |||||||||||||
Accrual for Legal Matters and Settlements - Current | 14,900,000 | ||||||||||||
Litigation Relating to Bamboo Flooring | Selling, General and Administrative Expenses [Member] | |||||||||||||
Loss Contingencies [Line Items] | |||||||||||||
Payment of litigation settlement | $ 400,000 | ||||||||||||
Accrued expenses | $ 2,000,000 | $ 28,000,000 | |||||||||||
Visnack Litigation Matters [Member] | |||||||||||||
Loss Contingencies [Line Items] | |||||||||||||
Litigation Settlement, Expense | $ 50,000 | ||||||||||||
Kramer Litigation Matters | |||||||||||||
Loss Contingencies [Line Items] | |||||||||||||
Payment of litigation settlement | $ 4,750,000 | ||||||||||||
Accrual for Legal Matters and Settlements - Current | $ 4,750,000 | $ 4,750,000 | |||||||||||
Mason | |||||||||||||
Loss Contingencies [Line Items] | |||||||||||||
Collective action period sought by plaintiffs | 3 years | ||||||||||||
Class action period sought by plaintiffs | 6 years | ||||||||||||
Litigation Settlement, Amount | $ 7,000,000 | ||||||||||||
Accrued expenses | $ 7,000,000 | ||||||||||||
Number of claims of opt-in plaintiffs excluded | claim | 55 | ||||||||||||
Accrual for Legal Matters and Settlements - Current | 7,000,000 | ||||||||||||
Mason | Accrual for Legal Matters and Settlements Current [Member] | |||||||||||||
Loss Contingencies [Line Items] | |||||||||||||
Accrual for Legal Matters and Settlements - Current | $ 7,000,000 | ||||||||||||
Mason | Selling, General and Administrative Expenses [Member] | |||||||||||||
Loss Contingencies [Line Items] | |||||||||||||
Probable loss incurred | 7,000,000 | ||||||||||||
Savidis | |||||||||||||
Loss Contingencies [Line Items] | |||||||||||||
Class action period sought by plaintiffs | 4 years | ||||||||||||
Litigation Settlement, Amount | 900,000 | ||||||||||||
Settlement amount reduced | $ 100,000 | ||||||||||||
Contingent Liability | $ 675,000 | ||||||||||||
Savidis Waiting Time Subclass [Member] | |||||||||||||
Loss Contingencies [Line Items] | |||||||||||||
Class action period sought by plaintiffs | 3 years | ||||||||||||
Cash and or Common Stock [Member] | Litigation Relating to Formaldehyde Abrasion MDL's [Member] | |||||||||||||
Loss Contingencies [Line Items] | |||||||||||||
Litigation Settlement, Amount | 22,000,000 | ||||||||||||
Cash Payments [Member] | Litigation Relating to Bamboo Flooring | |||||||||||||
Loss Contingencies [Line Items] | |||||||||||||
Payment of litigation settlement | $ 13,000,000 | ||||||||||||
Litigation Settlement, Amount | 14,000,000 | ||||||||||||
In Store Credit [Member] | Litigation Relating to Formaldehyde Abrasion MDL's [Member] | |||||||||||||
Loss Contingencies [Line Items] | |||||||||||||
Litigation Settlement, Amount | $ 14,000,000 | ||||||||||||
In Store Credit [Member] | Litigation Relating to Bamboo Flooring | |||||||||||||
Loss Contingencies [Line Items] | |||||||||||||
Litigation Settlement, Amount | $ 16,000,000 |
Commitments and Contingencies -
Commitments and Contingencies - Litigation matters (rollforward) (Details) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||||
Apr. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2018 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2018 | |
Loss Contingencies [Line Items] | |||||||
Accrual for Legal Matters and Settlements - Current | $ 30,398 | $ 67,471 | |||||
Accruals During Period | 7,773 | 2,507 | |||||
Settlement Payments During Period | (101) | (39,580) | |||||
Vouchers Accrued or (Redeemed) During Period | (4,459) | ||||||
Accrual for Legal Matters and Settlements - Current | 33,611 | 30,398 | |||||
Litigation Settlement, Amount | 21,500 | ||||||
Litigation Relating to Bamboo Flooring | |||||||
Loss Contingencies [Line Items] | |||||||
Vouchers Accrued or (Redeemed) During Period | (1,100) | ||||||
Litigation Settlement, Amount | $ 30,000 | ||||||
Litigation Relating to Bamboo Flooring | Selling, General and Administrative Expenses [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Accruals During Period | $ 2,000 | $ 28,000 | |||||
Litigation Relating to Bamboo Flooring | Cash Payments [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Litigation Settlement, Amount | 14,000 | ||||||
Litigation Relating to Bamboo Flooring | In Store Credit [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Litigation Settlement, Amount | $ 16,000 | ||||||
Litigation Relating to Bamboo Flooring | Other Current Liabilities | |||||||
Loss Contingencies [Line Items] | |||||||
Accrual for Legal Matters and Settlements - Current | 14,900 | ||||||
Litigation Relating to Formaldehyde Abrasion MDL's [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Accrual for Legal Matters and Settlements - Current | 14,000 | 35,500 | |||||
Settlement Payments During Period | (21,500) | ||||||
Vouchers Accrued or (Redeemed) During Period | (3,344) | ||||||
Accrual for Legal Matters and Settlements - Current | 10,656 | 14,000 | |||||
Litigation Settlement, Amount | $ 36,000 | ||||||
Litigation Relating to Formaldehyde Abrasion MDL's [Member] | Cash and or Common Stock [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Litigation Settlement, Amount | 22,000 | ||||||
Litigation Relating to Formaldehyde Abrasion MDL's [Member] | In Store Credit [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Litigation Settlement, Amount | $ 14,000 | ||||||
Gold | |||||||
Loss Contingencies [Line Items] | |||||||
Accrual for Legal Matters and Settlements - Current | 16,000 | 27,000 | |||||
Accruals During Period | 2,000 | ||||||
Settlement Payments During Period | (13,000) | ||||||
Vouchers Accrued or (Redeemed) During Period | (1,115) | ||||||
Accrual for Legal Matters and Settlements - Current | 14,885 | 16,000 | |||||
Mason | |||||||
Loss Contingencies [Line Items] | |||||||
Accruals During Period | 7,000 | ||||||
Accrual for Legal Matters and Settlements - Current | 7,000 | ||||||
Litigation Settlement, Amount | $ 7,000 | ||||||
Mason | Accrual for Legal Matters and Settlements Current [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Accrual for Legal Matters and Settlements - Current | 7,000 | ||||||
Kramer Litigation Matters | |||||||
Loss Contingencies [Line Items] | |||||||
Accrual for Legal Matters and Settlements - Current | 4,750 | ||||||
Settlement Payments During Period | (4,750) | ||||||
Other Matters | |||||||
Loss Contingencies [Line Items] | |||||||
Accrual for Legal Matters and Settlements - Current | 398 | 221 | |||||
Accruals During Period | 773 | 507 | |||||
Settlement Payments During Period | (101) | (330) | |||||
Accrual for Legal Matters and Settlements - Current | $ 1,070 | $ 398 |
Commitments and Contingencies_3
Commitments and Contingencies (Schedule of Other Commitments) (Details) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | 19 Months Ended | 21 Months Ended | ||||||||||||||||||||||
Oct. 31, 2021 | Apr. 30, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Sep. 30, 2019 | Jun. 30, 2018 | Mar. 31, 2018 | Nov. 30, 2020 | Dec. 31, 2019 | Nov. 30, 2019 | Dec. 31, 2018 | Nov. 30, 2018 | Dec. 31, 2017 | Nov. 30, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Nov. 30, 2014 | Dec. 31, 2013 | Nov. 30, 2013 | Nov. 30, 2012 | Dec. 31, 2012 | Jun. 30, 2021 | Mar. 31, 2021 | |
Antidumping Duties [Member] | Other Current Assets [Member] | |||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||
Contingent Receivable | $ 2,300 | ||||||||||||||||||||||||||
Antidumping Duties [Member] | Other Assets [Member] | |||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||
Contingent Receivable | 1,300 | ||||||||||||||||||||||||||
Antidumping Duties [Member] | Other Current Liabilities | |||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||
Contingent Liability | 200 | ||||||||||||||||||||||||||
Antidumping Duties [Member] | Other Noncurrent Liabilities [Member] | |||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||
Contingent Liability | 1,500 | ||||||||||||||||||||||||||
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 Receivable | 1,300 | $ 1,300 | |||||||||||||||||||||||||
Contingent Liability | $ 800 | ||||||||||||||||||||||||||
Antidumping Duties [Member] | Second Annual Review [Member] | |||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||
Loss Contingency Modified Purchase Price Of Antidumping Duty Rate | 3.92% | 13.74% | 3.92% | ||||||||||||||||||||||||
Contingent Receivable | 200 | ||||||||||||||||||||||||||
Contingent Liability | $ 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% | 0.00% | ||||||||||||||||||||||||
Contingent Receivable | 1,800 | $ 1,800 | |||||||||||||||||||||||||
Contingent Liability | $ 4,700 | ||||||||||||||||||||||||||
Antidumping Duties [Member] | Sixth Annual Review [Member] | |||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||
Contingent Receivable | 500 | $ 500 | |||||||||||||||||||||||||
Contingent Liability | 1,500 | $ 800 | |||||||||||||||||||||||||
Antidumping Duties [Member] | Sixth Annual Review [Member] | Other Noncurrent Liabilities [Member] | |||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||
Contingent Liability | $ 1,500 | ||||||||||||||||||||||||||
Antidumping Duties [Member] | Seventh Annual Review [Member] | |||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||
Loss Contingency Modified Purchase Price Of Antidumping Duty Rate | 0.00% | 0.00% | |||||||||||||||||||||||||
Antidumping Duties [Member] | Eighth 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% | 0.00% | |||||||||||||||||||||||||
Antidumping Duties [Member] | Ninth 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% | ||||||||||||||||||||||||||
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% | ||||||||||||||||||||||||||
Countervailing Duties [Member] | Other Current Assets [Member] | |||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||
Contingent Receivable | $ 70 | ||||||||||||||||||||||||||
Countervailing Duties [Member] | Other Assets [Member] | |||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||
Contingent Receivable | 300 | ||||||||||||||||||||||||||
Countervailing Duties [Member] | Other Current Liabilities | |||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||
Contingent Liability | 40 | ||||||||||||||||||||||||||
Countervailing Duties [Member] | Other Noncurrent Liabilities [Member] | |||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||
Contingent Liability | 2,000 | ||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||
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 | 40 | ||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||
Countervailing Duties [Member] | Fifth Annual Review [Member] | |||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||
Contingent Receivable | 70 | ||||||||||||||||||||||||||
Countervailing Duties [Member] | Sixth Annual Review [Member] | |||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||
Loss Contingency Modified Purchase Price Of Countervailing Duties Rate | 2.96% | ||||||||||||||||||||||||||
Contingent Liability | 40 | $ 400 | |||||||||||||||||||||||||
Countervailing Duties [Member] | Seventh Annual Review [Member] | |||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||
Loss Contingency Modified Purchase Price Of Countervailing Duties Rate | 20.75% | 20.75% | |||||||||||||||||||||||||
Contingent Liability | 1,700 | $ 1,700 | |||||||||||||||||||||||||
Countervailing Duties [Member] | Eighth Annual Review [Member] | |||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||
Loss Contingency Purchase Price Of Countervailing Duties Rate | 1.06% | ||||||||||||||||||||||||||
Loss Contingency Modified Purchase Price Of Countervailing Duties Rate | 6.13% | 6.13% | |||||||||||||||||||||||||
Contingent Liability | $ 300 | 300 | |||||||||||||||||||||||||
Countervailing Duties [Member] | Ninth Annual Review [Member] | |||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||
Contingent Liability | $ 200 | ||||||||||||||||||||||||||
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% | 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% | 3.10% | |||||||||||||||||||||||||
Countervailing Duties [Member] | Minimum [Member] | Ninth Annual Review [Member] | |||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||
Loss Contingency Modified Purchase Price Of Countervailing Duties Rate | 5.50% | ||||||||||||||||||||||||||
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% | 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% | ||||||||||||||||||||||||||
Countervailing Duties [Member] | Maximum [Member] | Ninth Annual Review [Member] | |||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||
Loss Contingency Modified Purchase Price Of Countervailing Duties Rate | 15.71% | ||||||||||||||||||||||||||
Deposit One [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] | Second Annual Review [Member] | |||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||
Loss Contingency Purchase Price Of Antidumping Duty Rate | 3.30% | ||||||||||||||||||||||||||
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] | 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] | Antidumping Duties [Member] | Seventh Annual Review [Member] | |||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||
Loss Contingency Purchase Price Of Antidumping Duty Rate | 0.00% | ||||||||||||||||||||||||||
Deposit One [Member] | Antidumping Duties [Member] | Eighth Annual Review [Member] | |||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||
Loss Contingency Purchase Price Of Antidumping Duty Rate | 0.00% | ||||||||||||||||||||||||||
Deposit One [Member] | Antidumping Duties [Member] | Ninth Annual Review [Member] | |||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||
Loss Contingency Purchase Price Of Antidumping Duty Rate | 0.00% | ||||||||||||||||||||||||||
Deposit One [Member] | Countervailing Duties [Member] | Fourth Annual Review [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% | ||||||||||||||||||||||||||
Contingent Receivable | $ 70 | ||||||||||||||||||||||||||
Deposit One [Member] | Countervailing Duties [Member] | Sixth Annual Review [Member] | |||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||
Loss Contingency Purchase Price Of Countervailing Duties Rate | 0.99% | ||||||||||||||||||||||||||
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 One [Member] | Countervailing Duties [Member] | Ninth Annual Review [Member] | |||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||
Loss Contingency Purchase Price Of Countervailing Duties Rate | 0.00% | ||||||||||||||||||||||||||
Loss Contingency Modified Purchase Price Of Countervailing Duties Rate | 5.50% | ||||||||||||||||||||||||||
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] | 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] | Fourth Annual Review [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% | ||||||||||||||||||||||||||
Deposit Two [Member] | Countervailing Duties [Member] | Sixth Annual Review [Member] | |||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||
Loss Contingency Purchase Price Of Countervailing Duties Rate | 1.38% | ||||||||||||||||||||||||||
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 Two [Member] | Countervailing Duties [Member] | Ninth Annual Review [Member] | |||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||
Loss Contingency Purchase Price Of Countervailing Duties Rate | 0.85% | ||||||||||||||||||||||||||
Loss Contingency Modified Purchase Price Of Countervailing Duties Rate | 15.71% | ||||||||||||||||||||||||||
Deposit Three [Member] | Countervailing Duties [Member] | Ninth Annual Review [Member] | |||||||||||||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||
Loss Contingency Purchase Price Of Countervailing Duties Rate | 2.96% |
Canadian and U.S. Store Closu_3
Canadian and U.S. Store Closure Costs (Narrative) (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Sep. 30, 2020store | Dec. 31, 2020USD ($)store | Dec. 31, 2021USD ($)store | Dec. 31, 2020USD ($)store | Dec. 31, 2019USD ($) | |
Restructuring Cost and Reserve [Line Items] | |||||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Parent, Total | $ 823 | $ (195) | |||
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% | ||||
Expected expense incurred on stores closing | $ 3,800 | 3,800 | |||
Cumulative foreign exchange losses | $ 800 | ||||
Liabilities for restructuring | $ 0 | ||||
Store exit expense | $ 0 | $ 3,784 | |||
Facility Closing [Member] | Canadian and United States Store Exit Costs [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Number of Stores | store | 14 | 14 | |||
Store exit expense | $ 2,600 | ||||
U.S. | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Number of Stores | store | 424 | ||||
U.S. | Facility Closing [Member] | Canadian and United States Store Exit Costs [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Number of Stores | store | 6 | ||||
CANADA | Facility Closing [Member] | Canadian and United States Store Exit Costs [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Number of Stores | store | 8 |
Canadian and U.S. Store Closu_4
Canadian and U.S. Store Closure Costs (Summary of Store Exit Costs Incurred) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Restructuring Cost and Reserve [Line Items] | |||
Provision for Inventory Obsolescence Reserves | $ 2,345 | $ 3,036 | $ 1,888 |
Reclassification of Canada currency translation to earnings | 757 | ||
Canadian and United States Store Exit Costs [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Provision for Inventory Obsolescence Reserves | 822 | ||
Total Store Exit Costs | $ 0 | 3,784 | |
Canadian and United States Store Exit Costs [Member] | Cost of Sales [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Provision for Inventory Obsolescence Reserves | 822 | ||
Canadian and United States Store Exit Costs [Member] | Selling, General and Administrative Expenses [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Employee termination benefits | 411 | ||
Write-downs of lease and fixed assets | 1,362 | ||
Reclassification of Canada currency translation to earnings | 757 | ||
Other SG&A store exit costs | 432 | ||
Total Store Exit Costs | $ 2,962 |
Schedule II - Analysis of Val_2
Schedule II - Analysis of Valuation and Qualifying Accounts (Valuation of Qualifying Accounts) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Inventory Reserve for Loss or Obsolescence [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Balance Beginning of Year | $ 6,737 | $ 6,900 | $ 6,807 |
Additions Charged to Cost and Expenses | 2,345 | 3,036 | 1,888 |
Deductions | (3,530) | (3,199) | (1,795) |
Other | |||
Balance End of Year | 5,552 | 6,737 | 6,900 |
Income Tax Valuation Allowance [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Balance Beginning of Year | 5,623 | 26,986 | 26,318 |
Additions Charged to Cost and Expenses | 668 | ||
Deductions | (3,218) | (21,363) | |
Other | |||
Balance End of Year | $ 2,405 | $ 5,623 | $ 26,986 |