Cover
Cover | 12 Months Ended |
Jan. 28, 2023 | |
Document Information [Line Items] | |
Document Type | DEF 14A |
Amendment Flag | false |
Entity Information [Line Items] | |
Entity Registrant Name | BUCKLE, INC |
Entity Central Index Key | 0000885245 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) | 12 Months Ended | ||
Jan. 28, 2023 | Jan. 29, 2022 | Jan. 30, 2021 | |
Pay vs Performance Disclosure [Table] | |||
Pay vs Performance [Table Text Block] | Pay Versus Performance Table As required by Item 402(v) of Regulation S-K, the Company is providing the following information about the relationship between executive "Compensation Actually Paid" ("CAP"), as defined by SEC rules, and certain financial performance measures of the Company. For further information about how the Company seeks to align executive compensation with the Company’s performance, see “Compensation Discussion and Analysis” above. The amounts in the table below are calculated in accordance with SEC rules and do not represent amounts actually earned or realized by our Principal Executive Officer ("PEO") and our other Named Executive Officers ("Non-PEO NEOs"), including with respect to Non-Vested Stock. In determining the CAP to our PEO and our Non-PEO NEOs, various adjustments to the total compensation amounts that have been reported in the Summary Compensation Table ("SCT") are needed because the SEC’s valuation methods for this section differ from those required in the SCT. Details regarding the adjustment amounts that were deducted from, and added to, the SCT totals to arrive at the values presented for CAP, are provided in the footnotes to the table. Compensation for the Non-PEO NEOs is reported as an average. Value of Initial Fixed $100 Investment Based On: Fiscal Year Summary Compensation Table Total for PEO Compensation Actually Paid to PEO Average Summary Compensation Table Total for Non-PEO NEOs Average Compensation Actually Paid to Non-PEO NEOs Total Shareholder Return Peer Group Total Shareholder Return Net Income (in thousands) Pre-Bonus Net Income (in thousands) (1) ($) ($) (2) ($) ($) (3) ($) (4) ($) (4) (5) ($) ($) (6) 2022 10,997,640 14,683,800 2,480,327 3,030,439 250 168 254,626 384,410 2021 11,994,209 12,689,404 2,738,951 2,851,334 191 189 254,820 393,625 2020 5,655,228 8,064,518 1,403,904 1,806,625 176 207 130,139 196,525 | ||
Company Selected Measure Name | Pre-Bonus Net Income | ||
Named Executive Officers, Footnote [Text Block] | (1) During 2022, Dennis H. Nelson was the Company’s President and CEO (PEO), the remaining Non-PEO NEOs were Thomas B. Heacock, Kari G. Smith, Brett P. Milkie, and Kelli D. Molczyk. During 2021 and 2020, Dennis H. Nelson was the Company’s President and CEO (PEO), the remaining Non-PEO NEOs were Thomas B. Heacock, Kari G. Smith, Brett P. Milkie, and Robert M. Carlberg. | ||
Peer Group Issuers, Footnote [Text Block] | (4) Cumulative total shareholder return (“TSR”) is calculated assuming a fixed investment of $100, including the reinvestment of dividends (as applicable), measured from the market close on January 31, 2020 (the last trading day prior to fiscal 2020) through and including the end of the fiscal year for each year reported in the table. (5) The peer group used for this purpose is the following published industry index: S&P Retail Select Industry Index. | ||
PEO Total Compensation Amount | $ 10,997,640 | $ 11,994,209 | $ 5,655,228 |
PEO Actually Paid Compensation Amount | $ 14,683,800 | 12,689,404 | 8,064,518 |
Adjustment To PEO Compensation, Footnote [Text Block] | (2) In accordance with the requirements of Item 402(v), the adjustments in the table below were made to our PEO's total compensation for each year to determine the compensation actually paid: PEO Fiscal 2022 Fiscal 2021 Fiscal 2020 ($) ($) ($) Total Compensation as reported in the Summary Compensation Table 10,997,640 11,994,209 5,655,228 (Deduct): Fair value of equity compensation granted during the covered fiscal year as reported in the Summary Compensation Table (4,382,400) (4,718,400) (2,929,200) Add: Fair value at year end of equity compensation granted in the covered fiscal year that was outstanding and unvested at the covered fiscal year end 5,115,300 4,309,360 4,639,760 Add or (Deduct): The change in fair value of any awards granted in prior years that were outstanding and unvested as of the end of the covered fiscal year 737,640 (256,200) 872,235 Add: Fair value as of the vesting date of awards granted and vested during the covered fiscal year 86,700 73,040 78,640 Add or (Deduct): For awards granted in prior years for which all applicable vesting conditions were satisfied at the end of or during the covered fiscal year, the change in the fair value from the end of the prior fiscal year to the vesting date 560,145 (148,460) 654,505 Deduct: For awards granted in prior years that failed to meet the applicable vesting conditions during the covered fiscal year (i.e., were forfeited), the amount equal to the fair value at the end of the prior fiscal year — — (1,342,550) Add: Dollar value of any dividends or other earnings paid during the covered fiscal year prior to the vesting date that are not otherwise included in total compensation for the covered fiscal year 1,568,775 1,435,855 435,900 Compensation Actually Paid to PEO 14,683,800 12,689,404 8,064,518 | ||
Non-PEO NEO Average Total Compensation Amount | $ 2,480,327 | 2,738,951 | 1,403,904 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 3,030,439 | 2,851,334 | 1,806,625 |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | (3) In accordance with the requirements of Item 402(v), the adjustments in the table below were made to the Non-PEO NEOs’ total compensation for each year to determine the compensation actually paid: Non-PEO Named Executive Officer Averages Fiscal 2022 Fiscal 2021 Fiscal 2020 ($) ($) ($) Total Compensation as reported in the Summary Compensation Table 2,480,327 2,738,951 1,403,904 (Deduct): Fair value of equity compensation granted during the covered fiscal year as reported in the Summary Compensation Table (662,838) (737,250) (457,688) Add: Fair value at year end of equity compensation granted in the covered fiscal year that was outstanding and unvested at the covered fiscal year end 765,994 666,490 717,590 Add or (Deduct): The change in fair value of any awards granted in prior years that were outstanding and unvested as of the end of the covered fiscal year 110,544 (40,005) 135,867 Add: Fair value as of the vesting date of awards granted and vested during the covered fiscal year 20,808 18,260 19,660 Add or (Deduct): For awards granted in prior years for which all applicable vesting conditions were satisfied at the end of or during the covered fiscal year, the change in the fair value from the end of the prior fiscal year to the vesting date 82,675 (23,383) 104,998 Deduct: For awards granted in prior years that failed to meet the applicable vesting conditions during the covered fiscal year (i.e., were forfeited), the amount equal to the fair value at the end of the prior fiscal year — — (186,126) Add: Dollar value of any dividends or other earnings paid during the covered fiscal year prior to the vesting date that are not otherwise included in total compensation for the covered fiscal year 232,929 228,271 68,420 Compensation Actually Paid to Non-PEO NEOs 3,030,439 2,851,334 1,806,625 | ||
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | Relationship Between Compensation Actually Paid and Cumulative Company TSR | ||
Compensation Actually Paid vs. Net Income [Text Block] | Relationship Between Compensation Actually Paid and Company Net Income | ||
Compensation Actually Paid vs. Company Selected Measure [Text Block] | Relationship Between Compensation Actually Paid and Pre-Bonus Net Income | ||
Total Shareholder Return Vs Peer Group [Text Block] | Relationship Between three year cumulative TSR and three year cumulative TSR of Peer Group | ||
Tabular List [Table Text Block] | Financial Performance Measures The financial measures used by the Company to link compensation actually paid (as defined by SEC rules) to the Company’s Named Executive Officers for the most recently completed fiscal year to the Company’s performance are: • Pre-Bonus Net Income; • Increase in Pre-Bonus Net Income; and • Adjusted Net Income from Operations as a Percentage of Net Sales. | ||
Total Shareholder Return Amount | $ 250 | 191 | 176 |
Peer Group Total Shareholder Return Amount | 168 | 189 | 207 |
Net Income (Loss) | $ 254,626,000 | $ 254,820,000 | $ 130,139,000 |
Company Selected Measure Amount | 384,410,000 | 393,625,000 | 196,525,000 |
PEO Name | Dennis H. Nelson | Dennis H. Nelson | Dennis H. Nelson |
Measure [Axis]: 1 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Pre-Bonus Net Income | ||
Non-GAAP Measure Description [Text Block] | (6) The Company-selected measure is Pre-Bonus Net Income, which is a non-GAAP financial metric. Pre-Bonus Net Income is defined as the Company’s Net Income from Operations after the deduction of all expenses, excluding: (i) administrative and store manager percentage bonuses; (ii) book accruals for all Non-Vested Stock compensation expense; and (iii) income taxes. In addition, Pre-Bonus Net Income excludes the full effect of any unusual, non-recurring or infrequent item of expense, including, but not limited to, an impairment charge, a restructuring charge, a change to GAAP, a regulatory change, a fine, a judgment or related litigation costs, if any such unusual, non-recurring and infrequent item exceeds $1,000,000. | ||
Measure [Axis]: 2 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Increase in Pre-Bonus Net Income | ||
Measure [Axis]: 3 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Adjusted Net Income from Operations as a Percentage of Net Sales | ||
PEO [Member] | Fair Value of Equity Compensation Granted [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ (4,382,400) | $ (4,718,400) | $ (2,929,200) |
PEO [Member] | Fair Value of Equity Compensation Granted Outstanding and Unvested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 5,115,300 | 4,309,360 | 4,639,760 |
PEO [Member] | Add or Deduct for Change in Fair Value of Prior Year Awards Outstanding and Unvested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 737,640 | (256,200) | 872,235 |
PEO [Member] | Add Fair Value of Vesting Date of Awards Granted and Vested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 86,700 | 73,040 | 78,640 |
PEO [Member] | Add or Deduct For Change in Fair Value for Prior Year Awards Vested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 560,145 | (148,460) | 654,505 |
PEO [Member] | Deduct For Change in Fair Value for Prior Year Awards Forfeited [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 0 | (1,342,550) |
PEO [Member] | Add Value of Dividends on Unvested Shares [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 1,568,775 | 1,435,855 | 435,900 |
Non-PEO NEO [Member] | Fair Value of Equity Compensation Granted [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (662,838) | (737,250) | (457,688) |
Non-PEO NEO [Member] | Fair Value of Equity Compensation Granted Outstanding and Unvested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 765,994 | 666,490 | 717,590 |
Non-PEO NEO [Member] | Add or Deduct for Change in Fair Value of Prior Year Awards Outstanding and Unvested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 110,544 | (40,005) | 135,867 |
Non-PEO NEO [Member] | Add Fair Value of Vesting Date of Awards Granted and Vested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 20,808 | 18,260 | 19,660 |
Non-PEO NEO [Member] | Add or Deduct For Change in Fair Value for Prior Year Awards Vested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 82,675 | (23,383) | 104,998 |
Non-PEO NEO [Member] | Deduct For Change in Fair Value for Prior Year Awards Forfeited [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 0 | (186,126) |
Non-PEO NEO [Member] | Add Value of Dividends on Unvested Shares [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ 232,929 | $ 228,271 | $ 68,420 |