Document_And_Entity_Informatio
Document And Entity Information | 6 Months Ended | |
Aug. 02, 2014 | Aug. 31, 2014 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 2-Aug-14 | ' |
Document Fiscal Year Focus | '2015 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
Entity Registrant Name | 'RADIOSHACK CORP | ' |
Entity Central Index Key | '0000096289 | ' |
Current Fiscal Year End Date | '--01-31 | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 100,687,856 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements Of Comprehensive Income (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Aug. 02, 2014 | Jul. 31, 2013 | Aug. 02, 2014 | Jul. 31, 2013 |
Condensed Consolidated Statements Of Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net sales and operating revenues | $673.80 | $861.40 | $1,410.50 | $1,709.80 |
Cost of products sold (includes depreciation amounts of $2.4 million, $2.1 million, $4.9 million, and $4.4 million, respectively) | 436.2 | 559.9 | 904.2 | 1,067.40 |
Gross profit | 237.6 | 301.5 | 506.3 | 642.4 |
Operating expenses: | ' | ' | ' | ' |
Selling, general and administrative | 323.6 | 334.4 | 659.5 | 668.1 |
Depreciation and amortization | 12.8 | 15.4 | 25.8 | 31.5 |
Impairment of long-lived assets and goodwill | 20.6 | 2.8 | 21.4 | 4.2 |
Total operating expenses | 357 | 352.6 | 706.7 | 703.8 |
Operating loss | -119.4 | -51.1 | -200.4 | -61.4 |
Interest income | 0.3 | 0.3 | 1 | 0.7 |
Interest expense | -16.9 | -14 | -33.5 | -28.7 |
Other loss | ' | ' | ' | -0.3 |
Loss from continuing operations before income taxes | -136 | -64.8 | -232.9 | -89.7 |
Income tax expense (benefit) | 1.4 | -13.4 | 2.8 | -15 |
Loss from continuing operations | -137.4 | -51.4 | -235.7 | -74.7 |
Discontinued operations, net of income taxes | ' | -0.8 | ' | -5.5 |
Net loss | -137.4 | -52.2 | -235.7 | -80.2 |
Basic and diluted net loss per share: | ' | ' | ' | ' |
Loss per share from continuing operations | ($1.35) | ($0.51) | ($2.31) | ($0.74) |
Loss per share from discontinued operations | ' | ' | ' | ($0.05) |
Net loss per share | ($1.35) | ($0.51) | ($2.31) | ($0.79) |
Shares used in computing net loss per share: | ' | ' | ' | ' |
Basic and diluted | 101.9 | 100.7 | 101.9 | 100.7 |
Comprehensive loss | ($137.50) | ($56.20) | ($235.20) | ($79.90) |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements Of Comprehensive Income (Parenthetical) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Aug. 02, 2014 | Jul. 31, 2013 | Aug. 02, 2014 | Jul. 31, 2013 |
Condensed Consolidated Statements Of Comprehensive Income [Abstract] | ' | ' | ' | ' |
Cost of products sold, depreciation | $2.40 | $2.10 | $4.90 | $4.40 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Aug. 02, 2014 | Feb. 01, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | |||
Current assets: | ' | ' | ' |
Cash and cash equivalents | $30.50 | $109.60 | $179.80 |
Accounts and notes receivable, net | 159.7 | 154.1 | 211.9 |
Inventories | 673.4 | 807.8 | 802.3 |
Other current assets | 66.3 | 80.1 | 139 |
Total current assets | 929.9 | 1,151.60 | 1,333 |
Property, plant and equipment, net | 172.2 | 186.3 | 187.2 |
Other assets, net | 47.1 | 72.7 | 71 |
Total assets | 1,149.20 | 1,410.60 | 1,591.20 |
Current liabilities: | ' | ' | ' |
Current maturities of long-term debt | 1.1 | 1.1 | 1.1 |
Accounts payable | 153.3 | 234.7 | 376.4 |
Accrued expenses and other current liabilities | 216.3 | 206.4 | 207.1 |
Total current liabilities | 370.7 | 442.2 | 584.6 |
Long-term debt, excluding current maturities | 656.9 | 613 | 613 |
Other non-current liabilities | 184.6 | 186.7 | 187.2 |
Total liabilities | 1,212.20 | 1,241.90 | 1,384.80 |
Commitments and contingencies (See Note 9) | ' | ' | ' |
Stockholders' (deficit) equity: | ' | ' | ' |
Common stock, $1 par value, 650,000,000 shares authorized; 146,033,000 shares issued | 146 | 146 | 146 |
Additional paid-in capital | 116.8 | 122.9 | 123.6 |
Retained earnings | 687.3 | 923 | 960.6 |
Treasury stock, at cost; 45,352,000, 45,686,000, and 45,735,000 shares, respectively | -1,006.80 | -1,016.40 | -1,017.70 |
Accumulated other comprehensive loss | -6.3 | -6.8 | -6.1 |
Total stockholders' (deficit) equity | -63 | 168.7 | 206.4 |
Total liabilities and stockholders' (deficit) equity | $1,149.20 | $1,410.60 | $1,591.20 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Aug. 02, 2014 | Feb. 01, 2014 | Dec. 31, 2013 |
Condensed Consolidated Balance Sheets [Abstract] | ' | ' | ' |
Preferred stock, no par value | ' | ' | ' |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 | 1,000,000 |
Series A junior participating, shares designated | 300,000 | 300,000 | 300,000 |
Series A junior participating, shares issued | 0 | 0 | 0 |
Common stock, par value | $1 | $1 | $1 |
Common stock, shares authorized | 650,000,000 | 650,000,000 | 650,000,000 |
Common stock, shares issued | 146,033,000 | 146,033,000 | 146,033,000 |
Treasury stock, shares | 45,352,000 | 45,686,000 | 45,735,000 |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements Of Cash Flows (USD $) | 6 Months Ended | |
In Millions, unless otherwise specified | Aug. 02, 2014 | Jul. 31, 2013 |
Cash flows from operating activities: | ' | ' |
Net loss | ($235.70) | ($80.20) |
Adjustments to reconcile net loss to net cash (used in) provided by operating activities: | ' | ' |
Depreciation and amortization | 30.7 | 36.7 |
Deferred income taxes | ' | -0.4 |
Amortization of discounts on long-term debt | 0.9 | 5.9 |
Impairment of long-lived assets and goodwill | 21.4 | 4.2 |
Stock-based compensation | 4.5 | 4.9 |
Provision for credit losses and bad debts | 0.5 | 0.1 |
Other non-cash items | 5.6 | 2 |
Changes in assets and liabilities: | ' | ' |
Accounts and notes receivable | -5.2 | 138.3 |
Inventories | 134.6 | 153 |
Other current assets | 10.7 | 1.6 |
Accounts payable | -109.8 | -92.1 |
Accrued expenses and other | 10.2 | -15.9 |
Income taxes | ' | 0.4 |
Net change in liability for unrecognized tax benefits and accrued interest | 1.9 | -16.5 |
Other | 4.7 | -6.1 |
Net cash (used in) provided by operating activities | -125 | 135.9 |
Cash flows from investing activities: | ' | ' |
Additions to property, plant and equipment | -28.3 | -16.6 |
Proceeds from sale of property, plant and equipment | ' | 6.5 |
Changes in restricted cash | 2.9 | -5.6 |
Net cash used in investing activities | -25.4 | -15.7 |
Cash flows from financing activities: | ' | ' |
Repayment of principal on convertible debt | ' | -72.5 |
Proceeds from issuance of long-term debt | 136.5 | ' |
Repayments of long-term debt | -93.5 | ' |
Changes in cash overdrafts | 28.3 | -11 |
Net cash provided by (used in) financing activities | 71.3 | -83.5 |
Net (decrease) increase in cash and cash equivalents | -79.1 | 36.7 |
Cash and cash equivalents, beginning of period | 109.6 | 403.2 |
Cash and cash equivalents, end of period | $30.50 | $439.90 |
Basis_Of_Presentation
Basis Of Presentation | 6 Months Ended |
Aug. 02, 2014 | |
Basis Of Presentation [Abstract] | ' |
Basis Of Presentation | ' |
NOTE 1 – BASIS OF PRESENTATION | |
In November 2013, our Board of Directors approved a change in our fiscal year end from December 31 to the Saturday nearest January 31 of each year. The change, which aligns our reporting cycle with the National Retail Federation 4-5-4 fiscal calendar and is expected to provide for more consistent quarter-to-quarter comparisons, is effective for our 2015 fiscal year. Our 2015 fiscal year began on February 2, 2014, and will end January 31, 2015, resulting in a transition period, that began January 1, 2014, and ended February 1, 2014, our 2014 fiscal year. This Form 10-Q includes the unaudited results for the 13 weeks and 26 weeks ended August 2, 2014, and the three and six months ended July 31, 2013. Prior period information has been recast to the month end dates that most closely align with the new fiscal calendar. The prior period financial statements have not been recast on a 4-5-4 calendar basis, because it was impractical. | |
Throughout this report, the terms “our,” “we,” “us,” “Company,” and “RadioShack” refer to RadioShack Corporation, including its subsidiaries. We prepared the accompanying unaudited condensed consolidated financial statements, which include the accounts of RadioShack and all majority-owned domestic and foreign subsidiaries, in accordance with the rules of the Securities and Exchange Commission. Accordingly, we did not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In management’s opinion, all adjustments of a normal recurring nature considered necessary for a fair statement are included. However, our operating results for the 13 weeks and 26 weeks ended August 2, 2014, and the three and six months ended July 31, 2013, do not necessarily indicate the results you might expect for the full year. For further information, refer to our consolidated financial statements and management's discussion and analysis of financial condition and results of operations included in our Annual Report on Form 10-K for the year ended December 31, 2013. We have reclassified certain prior period amounts to conform to the current period presentation. | |
LIQUIDITY | |
We have experienced losses for the past two years that continued to accelerate into the second quarter of fiscal 2015, primarily attributed to a prolonged downturn in our business. Our ability to generate cash from operations depends in large part on the level of demand for our products and services. We continue to face an uncertain business environment and face a number of fundamental challenges in our mobility business due to consumer interest in handsets available in the market today, aggressive price competition on these products and intense wireless carrier marketing activities. Our retail business also faces the challenge of revamping our product assortment to anticipate and meet our customers’ needs and wants to produce profitable operating margins. We believe these challenging market conditions will continue for the third quarter and possibly the balance of the year. | |
Given our negative cash flows from operations and in order to meet our expected cash needs for the next twelve months and over the longer term, we will be required to obtain additional liquidity sources, consolidate our store base and possibly restructure our debt and other obligations. We are exploring alternatives and are engaged in discussions with third parties as well as our key financial stakeholders, including our existing lenders, bondholders, shareholders and landlords, in an effort to create a long-term solution. Alternatives include the sale of the company, partnership through a recapitalization and investment agreement, as well as both in and out-of-court restructuring. We presently anticipate announcing a recapitalization alternative, in the near term, which may be our most likely course of action, but we are continuing to evaluate all of our alternatives to restructure existing debt terms and other arrangements to provide additional liquidity. There can be no assurance that we will be able to successfully implement a long-term solution. | |
If acceptable terms of a sale or partnership or out-of court restructuring cannot be accomplished, we may not have enough cash and working capital to fund our operations beyond the very near term, which raises substantial doubt about our ability to continue as a going concern. As a result, we may be required to seek to implement an in-court proceeding under Chapter 11 of the United States Bankruptcy Code (“Bankruptcy Code”). If we commence a voluntary Chapter 11 bankruptcy case, we will attempt to arrange a “pre-packaged” or “pre-arranged” bankruptcy filing. In a “pre-packaged bankruptcy”, we would make arrangements with new and existing creditors for additional liquidity facilities and the restructuring of our existing debt terms, before presenting these arrangements to the bankruptcy court for approval. In the absence of a “pre-packaged” bankruptcy, we would consider a “pre-arranged” bankruptcy filing, in which we would reach agreement on the material terms of a plan of reorganization with key creditors prior to the commencement of the bankruptcy case. An in-court restructuring proceeding would cause a default on our debt with our current lenders. | |
We anticipate that in the near term we will seek to pursue one of the alternatives described above which may include a restructuring of existing debt terms and other arrangements to provide additional liquidity. As part of the various alternatives, we may begin a program to close a number of underperforming stores and other measures to make reductions in our cost structure. However, the actual number of store closures could vary considerably depending on the specific restructuring alternative implemented. Absent an agreed upon restructuring plan, the store closure program would require consent from our lenders. | |
There can be no assurance that any of these efforts will be successful. Each of the foregoing alternatives may have materially adverse effects on our business and on the market price of our securities. In the event the restructuring alternatives described above are not achievable, we would likely be required to liquidate under Chapter 7 of the Bankruptcy Code. | |
New_Accounting_Standards
New Accounting Standards | 6 Months Ended |
Aug. 02, 2014 | |
New Accounting Standards [Abstract] | ' |
New Accounting Standards | ' |
NOTE 2 – NEW ACCOUNTING STANDARDS | |
In April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. Under ASU 2014-08, only disposals representing a strategic shift in operations should be presented as discontinued operations. Those strategic shifts should have a major effect on the organization’s operations and financial results. Additionally, ASU 2014-08 requires expanded disclosures about discontinued operations that will provide financial statement users with more information about the assets, liabilities, income and expenses of discontinued operations. ASU 2014-08 is effective for fiscal and interim periods beginning on or after December 15, 2014. We are currently evaluating the impact of the adoption of ASU 2014-08. | |
In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). ASU 2014-09 provides guidance that companies will recognize revenue to depict the transfer of goods or services to customers in amounts that reflect the payment to which a company expects to be entitled in exchange for those goods or services. The ASU also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. The effective date will be the first quarter of fiscal year 2018 using one of two retrospective application methods. We have not determined the potential effects on the consolidated financial statements. | |
In June 2014, the FASB issued ASU No. 2014-12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period ("ASU 2014-12"). ASU 2014-12 requires that a performance target that affects vesting, and that could be achieved after the requisite service period, be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant date fair value of the award. This update further clarifies that compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered.. The amendments in this ASU are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Earlier adoption is permitted. We are currently evaluating the impact of the adoption of ASU 2014-12. | |
In August 2014, the FABS issued ASU No. 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”). ASU 2014-15 will explicitly require management to assess an entity’s ability to continue as a going concern, and to provide related footnote disclosure in certain circumstances. The new standard will be effective for all entities in the first annual period ending after December 15, 2016. Earlier adoption is permitted. We are currently evaluating the impact of the adoption of ASU 2014-15. | |
Discontinued_Operations
Discontinued Operations | 6 Months Ended |
Aug. 02, 2014 | |
Discontinued Operations [Abstract] | ' |
Discontinued Operations | ' |
NOTE 3 – DISCONTINUED OPERATIONS | |
We account for closed retail locations as discontinued operations when the cash flows of a retail location have been eliminated from our ongoing operations and we do not have any significant continuing involvement in its operations. In reaching the determination as to whether the cash flows of a retail location have been eliminated from our ongoing operations, we consider whether it is likely that customers will migrate to our other retail locations in the same geographic market. | |
We ceased operating all of our Target Mobile centers prior to March 31, 2013. See Note 1 – “Description of Business – Discontinued Operations” included in our Annual Report on Form 10-K for the year ended December 31, 2013, for further information. | |
Net sales and operating revenues related to these discontinued operations were zero for the 13 weeks and 26 weeks ended August 2, 2014, compared with $0.6 million and $46.6 million for the three and six months ended July 31, 2013. The income (loss) before income taxes for these discontinued operations was zero for the 13 weeks and 26 weeks ended August 2, 2014, compared with losses of $0.6 million and $5.2 million for the three and six months ended July 31, 2013. | |
Impairment_And_Restructuring
Impairment And Restructuring | 6 Months Ended |
Aug. 02, 2014 | |
Impairment And Restructuring [Abstract] | ' |
Impairment And Restructuring | ' |
NOTE 4 – IMPAIRMENT AND RESTRUCTURING | |
Impairment. As discussed in Note 1 – “Basis of Presentation – Liquidity,” we have experienced losses for the past two years that continued into the second quarter of fiscal 2015, primarily attributed to a prolonged downturn in our business, which continues to impact our overall liquidity. Also, during the 13 weeks ended August 2, 2014, we were notified by the New York Stock Exchange (“NYSE”) that the average closing price of our common stock had fallen below $1.00 per share over a period of 30 consecutive trading days, which is the minimum average share price for continued listing on the NYSE. See Note 9 – “Commitments and Contingencies” for further discussion. Together, we believe these circumstances are triggering events and require an evaluation of our long-lived assets. | |
We evaluated our goodwill balance, with the goodwill assigned to our Mexican subsidiary being the primary component. | |
In step 1 of the two-step impairment test, we compared the carrying amount, including assigned goodwill, to the fair value of our Mexican subsidiary. We estimated fair value by equally weighting the results from the income approach and market approach. The significant assumptions employed in determining fair value included, but were not limited to, projected financial information, growth rates, terminal value, discount rates, and multiples from publicly traded companies that are comparable to our Mexican subsidiary. Due to the less than anticipated operating results of the U.S. operations, we prepared a multi-year projection based upon updated assumptions, which included a reduction in planned expansion. The result of these assumptions was a significant reduction in sales and gross profits in our multi-year projection which was the primary factor determining that the fair value of our Mexican subsidiary was less than the carrying amount. As a result, step 2 of the two-step impairment test was required in order to measure the amount of goodwill impairment, if any. | |
In step 2, the fair value measured in step 1 of our Mexican subsidiary was allocated to its assets and liabilities to determine the implied fair value of the goodwill, if any. We calculated the implied fair value of our Mexican subsidiary’s goodwill to be zero compared to its carrying value of $12.3 million, resulting in an impairment charge of $12.3 million. The impairment charges were recorded in the 13 weeks ended August 2, 2014, in the “Impairment of long-lived assets and goodwill” line within our Condensed Consolidated Statements of Comprehensive Income. | |
Restructuring. As described in Note 1 – “Basis of Presentation”, in order to meet our expected cash needs for the next twelve months and over the longer term, we will be required to obtain additional liquidity sources, consolidate our store base and possibly restructure our debt and other obligations. We are exploring alternatives and are engaged in discussions with third parties as well as our key financial stakeholders, including our existing lenders, bondholders, shareholders and landlords in an effort to create a long-term solution. Alternatives include the sale of the company, partnership through a recapitalization and investment agreement, as well as both in and out-of-court restructuring. There can be no assurance that we will be able to successfully implement a long-term solution. | |
We presently anticipate announcing a recapitalization alternative, in the near term, which may be our most likely course of action and have estimated the restructuring costs under this alternative. There is no assurance this alternative will be achieved and other alternatives could result in materially higher restructuring costs. Estimated store closure costs of $5.7 million relate to the impairment of store leasehold improvements and fixtures. In step 1 of the impairment test, we compared the carrying amount of the underperforming stores to their projected undiscounted future cash flows. The result of step 1 indicated that the undiscounted future cash flows were insufficient to cover the carrying value of the stores leasehold improvements and fixtures and therefore, step 2 of the impairment test was required. In step 2, we first evaluated the appraised fair value of the stores leasehold improvements and fixtures. In our evaluation, the value of the leasehold improvements and fixtures during the liquidation time frame was considered insignificant and given the cash flows of the stores were insufficient to cover the carrying value of the stores leasehold improvements and fixtures, the stores were considered impaired. These charges have been recorded in the “Impairment of long-lived assets and goodwill” line within our Condensed Consolidated Statements of Comprehensive Income. | |
Estimated employee severance costs of $8.6 million relate to the elimination of full-time and part-time positions, primarily at the stores, field management and consolidation of facilities in China. These expenses are included in the “Selling, general and administrative” line within our Condensed Consolidated Statements of Comprehensive Income. Inventory reserves of $2.7 million are based on the estimated liquidation value of the inventory on hand during the liquidation phase of the restructuring plan. These expenses have been recorded in the “Cost of products sold” line within our Condensed Consolidated Statements of Comprehensive Income. In addition to these expenses, we estimate future lease termination costs upon exiting stores to be in the range of $15 million to $25 million. | |
Indebtedness_And_Borrowing_Fac
Indebtedness And Borrowing Facilities | 6 Months Ended | ||||||||||||
Aug. 02, 2014 | |||||||||||||
Indebtedness And Borrowing Facilities [Abstract] | ' | ||||||||||||
Indebtedness And Borrowing Facilities | ' | ||||||||||||
NOTE 5 – INDEBTEDNESS AND BORROWING FACILITIES | |||||||||||||
Debt consists of the following: | |||||||||||||
August 2, | February 1, | December 31, | |||||||||||
(In millions) | 2014 | 2014 | 2013 | ||||||||||
Term loan due in December 2018 | $ | 250.0 | $ | 250.0 | $ | 250.0 | |||||||
Credit facility term loan due in December 2018 | 50.0 | 50.0 | 50.0 | ||||||||||
6.75% unsecured notes due in May 2019 | 325.0 | 325.0 | 325.0 | ||||||||||
2018 Credit Facility | 43.0 | — | — | ||||||||||
Other | 1.2 | 1.2 | 1.4 | ||||||||||
669.2 | 626.2 | 626.4 | |||||||||||
Unamortized debt discounts | -11.2 | -12.1 | -12.3 | ||||||||||
658.0 | 614.1 | 614.1 | |||||||||||
Less current portion of: | |||||||||||||
Other | 1.1 | 1.1 | 1.1 | ||||||||||
Total long-term debt | $ | 656.9 | $ | 613.0 | $ | 613.0 | |||||||
As of August 2, 2014, we had $152.0 million of availability under our 2018 Credit Facility. | |||||||||||||
Net_Loss_Per_Share
Net Loss Per Share | 6 Months Ended | ||||||||||||||||
Aug. 02, 2014 | |||||||||||||||||
Net Loss Per Share [Abstract] | ' | ||||||||||||||||
Net Loss Per Share | ' | ||||||||||||||||
NOTE 6 – NET LOSS PER SHARE | |||||||||||||||||
Basic net loss per share is computed based on the weighted average number of common shares outstanding for each period presented. Diluted net loss per share reflects the potential dilution that would have occurred if securities or other contracts to issue common stock were exercised, converted, or resulted in the issuance of common stock that would have then shared in our earnings. | |||||||||||||||||
The following table reconciles the numerator and denominator used in the basic and diluted net loss per share calculations for the periods presented: | |||||||||||||||||
13 Weeks Ended | Three Months Ended | 26 Weeks Ended | Six Months Ended | ||||||||||||||
August 2, | July 31, | August 2, | July 31, | ||||||||||||||
(In millions) | 2014 | 2013 | 2014 | 2013 | |||||||||||||
Numerator: | |||||||||||||||||
Loss from continuing operations | $ | -137.4 | $ | -51.4 | $ | -235.7 | $ | -74.7 | |||||||||
Discontinued operations, net of taxes | — | -0.8 | — | -5.5 | |||||||||||||
Net loss | $ | -137.4 | $ | -52.2 | $ | -235.7 | $ | -80.2 | |||||||||
Denominator: | |||||||||||||||||
Weighted-average common shares outstanding | 101.9 | 100.7 | 101.9 | 100.7 | |||||||||||||
Dilutive effect of stock-based awards | — | — | — | — | |||||||||||||
Weighted-average shares for diluted net loss per share | 101.9 | 100.7 | 101.9 | 100.7 | |||||||||||||
The following table includes common stock equivalents that were not included in the calculation of diluted net loss per share for the periods presented. These securities could be dilutive in future periods. | |||||||||||||||||
13 Weeks Ended | Three Months Ended | 26 Weeks Ended | Six Months Ended | ||||||||||||||
August 2, | July 31, | August 2, | July 31, | ||||||||||||||
(In millions) | 2014 | 2013 | 2014 | 2013 | |||||||||||||
Employee stock options (1) (2) | 7.9 | 8.5 | 7.9 | 8.5 | |||||||||||||
Warrants to purchase common stock (3) | — | 15.8 | — | 15.8 | |||||||||||||
-1 | Certain employee stock options were excluded from weighted-average shares for diluted net loss per share because the exercise prices exceeded the average market price of our common stock during the period and the effect of their inclusion would be antidilutive. For both the 13 weeks and 26 weeks ended August 2, 2014, 7.9 million employee stock options were excluded for this reason, compared with 5.3 million for both the three and six months ended July 31, 2013. | ||||||||||||||||
-2 | Certain employee stock options were excluded from weighted-average shares for diluted net loss per share because the effect of their inclusion would reduce our net loss per share and would be antidilutive. For the 13 weeks and 26 weeks ended August 2, 2014, no employee stock options were excluded from these periods for this reason. For the three and six months ended July 31, 2013, 3.2 million employee stock options were excluded from these periods for this reason. | ||||||||||||||||
-3 | These common stock equivalents were excluded because the exercise price ($35.88 per share for all periods) exceeded the average market price of our common stock during these periods and the effect of their inclusion would be antidilutive. The warrants expired in March 2014. | ||||||||||||||||
Fair_Value_Measurements
Fair Value Measurements | 6 Months Ended | ||||||||||||||||||||
Aug. 02, 2014 | |||||||||||||||||||||
Fair Value Measurements [Abstract] | ' | ||||||||||||||||||||
Fair Value Measurements | ' | ||||||||||||||||||||
NOTE 7 – FAIR VALUE MEASUREMENTS | |||||||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis | |||||||||||||||||||||
Basis of Fair Value Measurements | |||||||||||||||||||||
Quoted Prices | Significant | ||||||||||||||||||||
in Active | Other | Significant | |||||||||||||||||||
Fair Value | Markets for | Observable | Unobservable | ||||||||||||||||||
of Assets | Identical Items | Inputs | Inputs | ||||||||||||||||||
(In millions) | (Liabilities) | (Level 1) | (Level 2) | (Level 3) | |||||||||||||||||
As of August 2, 2014 | |||||||||||||||||||||
Long-lived assets held and used | $ | 1.0 | — | — | $ | 1.0 | |||||||||||||||
As of February 1, 2014 | |||||||||||||||||||||
Long-lived assets held and used | $ | 0.6 | — | — | $ | 0.6 | |||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||
Long-lived assets held and used | $ | 9.6 | — | — | $ | 9.6 | |||||||||||||||
The FASB’s accounting guidance utilizes a fair value hierarchy that prioritizes the inputs to the valuation techniques used to measure fair value into three broad levels: | |||||||||||||||||||||
· | Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities | ||||||||||||||||||||
· | Level 2: Inputs, other than quoted prices, that are observable for the asset or liability, either directly or indirectly; these include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active | ||||||||||||||||||||
· | Level 3: Unobservable inputs that reflect the reporting entity’s own assumptions | ||||||||||||||||||||
U.S. RadioShack Company-Operated Stores: At August 2, 2014, and February 1, 2014, long-lived assets held and used in certain locations of our U.S. RadioShack company-operated stores segment with a total carrying value of $9.3 million and $1.1 million, were written down to their fair value of $1.0 million and $0.6 million, resulting in impairment charges of $8.3 million, which included $5.7 million related to restructuring and $0.5 million that were included in our operating results for the respective periods mentioned. | |||||||||||||||||||||
The inputs used to calculate the fair value of these long-lived assets included the projected cash flows and a risk-adjusted rate of return that we estimated would be used by a market participant in valuing these assets. The projected cash flows for a particular store are based on average historical cash flows for that store and are projected through the remainder of its lease. The risk-adjusted rates of return used to discount these cash flows range from 15% to 20%. | |||||||||||||||||||||
Fair Value of Financial Instruments: Financial instruments not measured at fair value on a recurring basis include cash and cash equivalents, restricted cash, accounts receivable, accounts payable, accrued liabilities and long-term debt. With the exception of long-term debt, the financial statement carrying amounts of these items approximate their fair values due to their short-term nature. The estimated fair values of our 6.75% unsecured notes due in 2019 (“2019 Notes”) as of August 2, 2014, February 1, 2014, and December 31, 2013, our secured term loans as of August 2, 2014, and for our 2018 Credit Facility as of August 2, 2014, are determined using quoted market prices, when available. If quoted market prices are not available, the fair value is estimated using indicated market prices. The estimated fair values use both observable and unobservable inputs in a cash flow model. The unobservable inputs reflect assumptions regarding expected spreads and discount rates. Observable inputs consist of 1-month and 3-month LIBOR rates. At February 1, 2014, and December 31, 2013, estimated fair values of our secured term loans approximate their carrying values due to the recentness of these borrowings and their Level 3 classification. | |||||||||||||||||||||
Carrying amounts and the related estimated fair values of our long-term debt financial instruments are as follows: | |||||||||||||||||||||
Basis of Fair Value Measurements | |||||||||||||||||||||
Quoted Prices | Significant | ||||||||||||||||||||
in Active | Other | Significant | |||||||||||||||||||
Markets for | Observable | Unobservable | |||||||||||||||||||
Carrying | Fair Value | Identical Items | Inputs | Inputs | |||||||||||||||||
(In millions) | Amount | of Liabilities | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||||
As of August 2, 2014 | |||||||||||||||||||||
2019 Notes | $ | 323.5 | $ | 133.3 | $ | — | $ | 133.3 | $ | — | |||||||||||
Secured term loans | $ | 290.4 | $ | 278.8 | $ | — | $ | — | $ | 278.8 | |||||||||||
2018 Credit Facility | $ | 43.0 | $ | 41.0 | $ | — | $ | — | $ | 41.0 | |||||||||||
Other | $ | 1.1 | $ | 1.1 | $ | — | $ | — | $ | 1.1 | |||||||||||
As of February 1, 2014 | |||||||||||||||||||||
2019 Notes | $ | 323.4 | $ | 195.0 | $ | — | $ | 195.0 | $ | — | |||||||||||
Secured term loans | $ | 289.5 | $ | 289.5 | $ | — | $ | — | $ | 289.5 | |||||||||||
Other | $ | 1.1 | $ | 1.1 | $ | — | $ | — | $ | 1.1 | |||||||||||
As of December 31, 2013 | |||||||||||||||||||||
2019 Notes | $ | 323.3 | $ | 197.9 | $ | — | $ | 197.9 | $ | — | |||||||||||
Secured term loans | $ | 289.4 | $ | 289.4 | $ | — | $ | — | $ | 289.4 | |||||||||||
Other | $ | 1.4 | $ | 1.4 | $ | — | $ | — | $ | 1.4 | |||||||||||
Income_Taxes
Income Taxes | 6 Months Ended |
Aug. 02, 2014 | |
Income Taxes [Abstract] | ' |
Income Taxes | ' |
NOTE 8 – INCOME TAXES | |
We continue to provide a valuation allowance against all of our U.S. federal and state deferred tax assets. As a result, we did not record any U.S. federal or state income tax benefit related to our operating losses for the 26 weeks ended August 2, 2014. We continue to provide a valuation allowance against all of the deferred tax assets of our Mexican subsidiary. We continue to recognize income tax expense or benefit related to our other foreign operations and interest accrued on our liabilities for uncertain tax positions. In addition, we continue to recognize income tax expense in certain state jurisdictions. | |
The consolidated liability of gross unrecognized income tax benefits for uncertain tax positions (excluding interest) was $116.5 million, $116.6 million and $119.1 million at August 2, 2014, February 1, 2014, and December 31, 2013, respectively. At August 2, 2014, $92.1 million of this liability was related to a single uncertain tax position. We anticipate that this uncertain tax position will not be resolved within the next 12 months. | |
Liabilities for unrecognized income tax benefits for uncertain tax positions may result in cash payments to one or more tax authorities in future periods. Such payments would not affect our results of operations. It is reasonably possible that our liability for unrecognized tax benefits related to uncertain tax positions could be reduced over the next 12 months because of settlements or the expiration of the applicable statute of limitations. We are no longer asserting permanent reinvestment of undistributed earnings in our Mexican subsidiary. However, since the subsidiary is in a deficit position, there is no deferred tax liability to record. | |
Our federal and certain state net operating losses and federal general business credit carryforwards may be subject to limitations under Section 382 of the Internal Revenue Code if significant ownership changes occur. | |
Commitments_And_Contingencies
Commitments And Contingencies | 6 Months Ended |
Aug. 02, 2014 | |
Commitments And Contingencies [Abstract] | ' |
Commitments And Contingencies | ' |
NOTE 9 – COMMITMENTS AND CONTINGENCIES | |
Loss Contingencies: FASB Accounting Standards Codification Topic 450 - Contingencies (“ASC 450”) governs our disclosure and recognition of loss contingencies, including pending claims, lawsuits, disputes with third parties, investigations and other actions that are incidental to the operation of our business. ASC 450 uses the following defined terms to describe the likelihood of a future loss: probable – the future event or events are likely to occur, remote – the chance of the future event or events is slight, and reasonably possible – the chance of the future event or events occurring is more than remote but less than likely. ASC 450 also contains certain requirements with respect to how we accrue for and disclose information concerning our loss contingencies. We accrue for a loss contingency when we conclude that the likelihood of a loss is probable and the amount of the loss can be reasonably estimated. When the reasonable estimate of the loss is within a range of amounts and no amount in the range constitutes a better estimate than any other amount, we accrue for the amount at the low end of the range. We adjust our accruals from time to time as we receive additional information, but the loss we incur may be significantly greater than or less than the amount we have accrued. We disclose loss contingencies if there is at least a reasonable possibility that a loss has been incurred. No accrual or disclosure is required for losses that are remote. | |
Brookler v. RadioShack Corporation: In April 2004, plaintiff Morry Brookler filed a putative class action in Los Angeles Superior Court claiming that we violated California's wage and hour laws relating to meal and rest periods. The meal period claim was originally certified as a class action in February 2006. We filed a Motion for Decertification in August 2007 which was denied. After a favorable decision by the California Court of Appeals in a similar case, Brinker Restaurant Corporation v. Superior Court, we filed a Second Motion for Decertification which was granted in October 2008. The plaintiff appealed this ruling and in August 2010, the California Court of Appeals reversed the trial court’s decertification order. In September 2010, we filed a Petition for Review with the California Supreme Court, which granted review and placed the case on hold pending a decision in the Brinker case. In April 2012, the California Supreme Court issued its decision in Brinker and in June 2012, remanded our case to the California Court of Appeals with instructions to vacate its prior order and reconsider its ruling in light of the Supreme Court’s decision in Brinker. In December 2012, the Court of Appeals affirmed the trial court’s decertification of the meal period class. In June 2013, the plaintiff filed a Motion to Amend his Complaint to assert rest and meal period as well as off-the-clock and Private Attorneys General Act claims and to add an additional class representative. In July 2013 the trial court granted the Motion to Amend and the plaintiffs filed a Second Amended Complaint. In August 2013 we removed the case to federal court. In September 2013 the plaintiffs filed a Motion to Remand the case back to state court, which was granted in October 2013. In November 2013 we filed a demurrer in state court to all causes of action in the Second Amended Complaint, which was granted without leave to amend in January 2014. On February 4, 2014, plaintiffs filed a Petition for Writ of Mandate with the Court of Appeals seeking immediate relief from the trial court’s order. On February 11, 2014, the Court of Appeals notified the trial court and parties of its intent to issue a peremptory Writ of Mandate compelling the trial court to vacate its order granting the demurrer and issue a new order denying the demurrer. On February 21, 2014, the trial court reversed its prior decision and denied our demurrer. On February 26, 2014, the Court of Appeals determined that the trial court had not followed proper procedure and ordered it to vacate its February 21, 2014, order to allow us an opportunity to oppose the Appellate Court’s notice. In April 2014, after further briefing by the parties, the trial court again sustained our demurrer without leave to amend. In May 2014, plaintiff appealed the trial court’s order sustaining the demurrer. The appeal has been fully briefed and the parties are awaiting a decision from the Court of Appeals. The outcome of this case is uncertain and the ultimate resolution of it could have a material adverse effect on our consolidated financial statements in the period in which the resolution is recorded. | |
Ordonez v. RadioShack Corporation: In May 2010, we were named as a defendant in a putative class action lawsuit in Los Angeles Superior Court alleging that we violated California’s wage and hour laws by not providing required meal periods and rest breaks, failed to pay for all time worked, failed to pay overtime compensation, failed to pay minimum wage and failed to maintain required records. In September 2010, we removed the case to the U. S. District Court for the Central District of California. In July 2012, plaintiff filed a Motion for Class Certification. In January 2013, the court denied, without prejudice, the Motion for Class Certification as to all claims. In February 2013, plaintiff filed a Motion for Reconsideration of the court’s denial of class certification only with regard to the rest period claim. In April 2013, the court ordered that plaintiff could conduct limited additional discovery and file a renewed Motion for Class Certification. Plaintiff filed the renewed motion in July 2013. A hearing on the motion was held in February 2014, at which time the court issued a tentative ruling granting plaintiff’s motion as to the rest period claim. Following oral argument, the court issued orders requiring the parties to submit supplemental evidence and briefs. In August 2014, the court denied the Motion. We anticipate that the Plaintiff will appeal. The outcome of this case is uncertain and the ultimate resolution of it could have a material adverse effect on our consolidated financial statements in the period in which the resolution is recorded. | |
FLSA Litigation: In April 2012, we were named as a defendant in a putative nationwide collective action under the Fair Labor Standards Act and putative statewide class actions under New York and Ohio state laws in the U. S. District Court for the Northern District of Ohio, claiming that our use of the “fluctuating workweek” method to calculate overtime for certain of our retail store managers violates federal and state laws because the store managers receive bonuses in addition to their fixed salaries. In June 2012, we filed a Motion to Dismiss the lawsuit. In March 2013, the court issued an opinion granting our motion in part, finding that plaintiffs were not entitled to seek overtime based upon our use of the “fluctuating workweek” method prior to April 5, 2011, the date of a U.S. Department of Labor Final Rule (“Final Rule”) addressing, among other things, proposed changes to the federal “fluctuating workweek” regulation finding that, based upon statements in the Final Rule, bonus payments were now incompatible with the “fluctuating workweek” method. The court also dismissed one of the named plaintiffs. Following the court’s decision, we filed a Motion to Certify Order for Interlocutory Appeal and Stay the Action, which the court granted in August 2013. Shortly thereafter we filed a Petition for Permission to Appeal with the U.S. Court of Appeals for the Sixth Circuit, which was granted. The appeal has been fully briefed and we are awaiting further action by the Court of Appeals. | |
In April 2013, plaintiffs in Pennsylvania, New York and New Jersey filed similar lawsuits alleging violations of their respective state laws. In June 2013, we filed Motions to Dismiss in the New York and New Jersey cases. In November 2013, the court in the New York case granted our Motion to Dismiss. In December 2013, the plaintiff in the New York case filed a notice of appeal with the Second Circuit Court of Appeals. The appeal has been fully briefed and we are awaiting further action by the Court of Appeals. In April 2014, the plaintiff in the New Jersey case voluntarily dismissed the case and filed an opt in notice in the Ohio case. | |
In September 2013, the court in the Pennsylvania case ordered the parties to file briefs addressing whether our use of the “fluctuating workweek” method violates Pennsylvania law. The plaintiff filed a Motion for Summary Judgment and we filed a Motion for Judgment on the Pleadings. In July 2014, the court issued an opinion granting plaintiff’s Motion for Summary Judgment and denying our Motion for Judgment on the Pleadings finding that the “fluctuating worksheet” method of compensation violates Pennsylvania law. | |
The outcome of these cases is uncertain and the ultimate resolution of them could have a material adverse effect on our consolidated financial statements in the period in which the resolution is recorded. | |
Additional Disclosure: For certain loss contingencies, we are currently able to estimate the reasonably possible loss or range of loss, including reasonably possible loss amounts in excess of our accruals and we estimate that the aggregate of these amounts could be up to $9.8 million. This amount reflects recent developments in case law that pertain to certain claims currently pending against the Company. Probable and reasonably possible losses that we are currently unable to estimate are not included in this amount. In future periods, we may recognize a loss for all, part, or none of this amount. | |
We are currently unable to estimate the reasonably possible loss or range of loss in respect of certain loss contingencies. Some cases remain in an early stage, with few or no substantive legal decisions by the court defining the scope of the claims, the class (if any), or the potential damages. In addition, in some cases we are not able to estimate the amount of the loss, due to a significant unresolved question of law that is expected to have a significant impact on the probability or amount of loss when resolved. As these matters develop and we receive additional information, we may be able to estimate reasonably possible losses or range of loss for these matters. | |
Our evaluation of our loss contingencies involves subjective assessments, assumptions and judgments, and actual losses incurred in future periods may differ significantly from our estimates. Accordingly, although occasional adverse resolutions may occur and negatively affect our consolidated financial statements in the period of the resolution, we believe that the ultimate resolution of our loss contingencies for which we have not accrued losses will not materially adversely affect our financial condition. | |
NYSE Delisting Notice: On July 24, 2014, we were notified by the NYSE that the average closing price of our common stock had fallen below $1.00 per share over a period of 30 consecutive trading days, which is the minimum average share price for continued listing on NYSE under Rule 802.01C of the NYSE Listed Company Manual. | |
Under NYSE rules, we have six months following receipt of the notification to regain compliance with the minimum share price requirement. We can regain compliance at any time during the six-month cure period if our common stock has a closing share price of at least $1.00 on the last trading day of any calendar month during the period and also has an average closing share price of at least $1.00 over the 30 trading-day period ending on the last trading day of that month or on the last day of the cure period. | |
The notice has no immediate impact on the listing of our common stock, which will continue to trade on NYSE under the symbol “RSH”. We intend to actively monitor the closing price of our common stock and will consider available options to resolve the deficiency and regain compliance with Rule 802.01C of the NYSE Listed Company Manual. | |
If our common stock ultimately were to be delisted for any reason, it could: (1) reduce the liquidity and market price of our common stock and (2) negatively impact our ability to conduct equity financings and access the public capital markets. | |
Segment_Reporting
Segment Reporting | 6 Months Ended | ||||||||||||||||
Aug. 02, 2014 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Segment Reporting | ' | ||||||||||||||||
NOTE 10 – SEGMENT REPORTING | |||||||||||||||||
The U.S. RadioShack company-operated stores segment consists solely of our 4,228 U.S. company-operated retail stores, all operating under the RadioShack brand name. We evaluate the performance of our segments based on operating income, which is defined as sales less cost of products sold and certain direct operating expenses, including labor, rent and occupancy costs. Asset balances by segment have not been included in the table below, as these are managed on a company-wide level and are not fully allocated to segments for management reporting purposes. Amounts in the other category reflect our business activities that are not separately reportable, which include sales to our independent dealers and franchisees, sales generated by our Mexican subsidiary and our www.radioshack.com website, sales to commercial customers and sales to other third parties through our global sourcing operations. | |||||||||||||||||
Revenue by reportable segment is as follows: | |||||||||||||||||
13 Weeks Ended | Three Months Ended | 26 Weeks Ended | Six Months Ended | ||||||||||||||
August 2, | July 31, | August 2, | July 31, | ||||||||||||||
(In millions) | 2014 | 2013 | 2014 | 2013 | |||||||||||||
U.S. RadioShack company-operated stores | $ | 607.1 | $ | 784.7 | $ | 1,281.2 | $ | 1,560.9 | |||||||||
Other | 66.7 | 76.7 | 129.3 | 148.9 | |||||||||||||
$ | 673.8 | $ | 861.4 | $ | 1,410.5 | $ | 1,709.8 | ||||||||||
Operating income (loss) by reportable segment and the reconciliation to loss from continuing operations before income taxes are as follows: | |||||||||||||||||
13 Weeks Ended | Three Months Ended | 26 Weeks Ended | Six Months Ended | ||||||||||||||
August 2, | July 31, | August 2, | July 31, | ||||||||||||||
(In millions) | 2014 | 2013 | 2014 | 2013 | |||||||||||||
U.S. RadioShack company-operated stores | $ | -8.8 | $ | 26.5 | $ | 10.8 | $ | 94.1 | |||||||||
Other | -11.9 | 2.9 | -12.3 | 9.3 | |||||||||||||
-20.7 | 29.4 | -1.5 | 103.4 | ||||||||||||||
Unallocated (1) | -98.7 | -80.5 | -198.9 | -164.8 | |||||||||||||
Operating loss | -119.4 | -51.1 | -200.4 | -61.4 | |||||||||||||
Interest income | 0.3 | 0.3 | 1.0 | 0.7 | |||||||||||||
Interest expense | -16.9 | -14 | -33.5 | -28.7 | |||||||||||||
Other loss | — | — | — | -0.3 | |||||||||||||
Loss from continuing operations before income taxes | $ | -136 | $ | -64.8 | $ | -232.9 | $ | -89.7 | |||||||||
-1 | The unallocated category included in operating income relates to our overhead and corporate expenses that are not allocated to our operating segments for management reporting purposes. Unallocated costs include corporate departmental expenses such as labor and benefits, advertising, insurance, distribution and information technology costs, plus certain unusual or infrequent gains or losses. | ||||||||||||||||
Supplemental_Guarantor_Financi
Supplemental Guarantor Financial Information | 6 Months Ended | ||||||||||||||||||||
Aug. 02, 2014 | |||||||||||||||||||||
Supplemental Guarantor Financial Information [Abstract] | ' | ||||||||||||||||||||
Supplemental Guarantor Financial Information | ' | ||||||||||||||||||||
NOTE 11 – SUPPLEMENTAL GUARANTOR FINANCIAL INFORMATION | |||||||||||||||||||||
The obligation to pay principal and interest on our 2019 Notes is jointly and severally guaranteed on a full and unconditional basis, subject to customary release provisions, by all of the guarantors under our 2018 Credit Facility. The 2019 Notes are guaranteed by all of our 100%-owned domestic subsidiaries except Tandy Life Insurance Company. Refer to Note 5 – “Indebtedness and Borrowing Facilities” included in our Annual Report on Form 10-K for the year ended December 31, 2013, for additional information on the 2019 Notes and the related exchange offer and the 2018 Credit Facility. | |||||||||||||||||||||
The following condensed consolidating financial information represents the financial information of RadioShack, its guarantor subsidiaries and its non-guarantor subsidiaries prepared on the equity basis of accounting. Earnings of subsidiaries are, therefore, reflected in the parent company's investment accounts and earnings. The elimination entries primarily eliminate investments in subsidiaries and intercompany balances and transactions. The non-guarantor subsidiaries are comprised of the foreign subsidiaries of the Company and Tandy Life Insurance Company. The financial information may not necessarily be indicative of results of operations, cash flows or financial position had the guarantor or non-guarantor subsidiaries operated as independent entities. | |||||||||||||||||||||
Subsequent to the issuance of our consolidated financial statements for year ended December 31, 2013, we identified an immaterial error in the presentation of the Condensed Consolidating Statements of Cash Flows contained in Note 11 - "Guarantor Consolidating Financial Statements" in our Annual Report on Form 10-K for the year ended December 31, 2013. The error is related to a $6.3 million adjustment between the Parent and Guarantor Subsidiaries for the proceeds for the sale of a building and fixtures. This adjustment did not have an impact on the consolidated financial statements for the year ended December 31, 2013, for the 26 weeks ended August 2, 2014, or for the six months ended July 31, 2013. | |||||||||||||||||||||
Condensed Consolidating Statements of Comprehensive Income (unaudited) | |||||||||||||||||||||
For the 13 Weeks Ended August 2, 2014 | |||||||||||||||||||||
RadioShack | Non- | ||||||||||||||||||||
Corporation | Guarantor | Guarantor | |||||||||||||||||||
(In millions) | (Parent Co.) | Subsidiaries | Subsidiaries | Eliminations | Consolidated | ||||||||||||||||
Net sales and operating revenues | $ | 643.0 | $ | 433.0 | $ | 31.4 | $ | -433.6 | $ | 673.8 | |||||||||||
Cost of products sold | 429.3 | 419.8 | 20.7 | -433.6 | 436.2 | ||||||||||||||||
Gross profit | 213.7 | 13.2 | 10.7 | — | 237.6 | ||||||||||||||||
Operating expenses: | |||||||||||||||||||||
Selling, general and administrative | 297.8 | 1.7 | 24.1 | — | 323.6 | ||||||||||||||||
Depreciation and amortization | 11.9 | — | 0.9 | — | 12.8 | ||||||||||||||||
Impairment of long-lived assets and goodwill | 8.3 | — | 12.3 | — | 20.6 | ||||||||||||||||
Total operating expenses | 318.0 | 1.7 | 37.3 | — | 357.0 | ||||||||||||||||
Operating (loss) income | -104.3 | 11.5 | -26.6 | — | -119.4 | ||||||||||||||||
Interest income | 0.2 | 3.0 | -0.4 | -2.5 | 0.3 | ||||||||||||||||
Interest expense | -19.3 | — | -0.1 | 2.5 | -16.9 | ||||||||||||||||
(Loss) income from continuing operations | |||||||||||||||||||||
before income taxes | -123.4 | 14.5 | -27.1 | — | -136 | ||||||||||||||||
Income tax (benefit) expense | -1.7 | 5.9 | -2.8 | — | 1.4 | ||||||||||||||||
Equity in earnings of subsidiaries, net of income taxes | -15.7 | -16.2 | — | 31.9 | — | ||||||||||||||||
Loss from continuing operations | -137.4 | -7.6 | -24.3 | 31.9 | -137.4 | ||||||||||||||||
Net loss | $ | -137.4 | $ | -7.6 | $ | -24.3 | $ | 31.9 | $ | -137.4 | |||||||||||
Comprehensive loss | $ | -137.5 | $ | -7.6 | $ | -24.4 | $ | 32.0 | $ | -137.5 | |||||||||||
Condensed Consolidating Statements of Comprehensive Income (unaudited) | |||||||||||||||||||||
For the Three Months Ended July 31, 2013 | |||||||||||||||||||||
RadioShack | Non- | ||||||||||||||||||||
Corporation | Guarantor | Guarantor | |||||||||||||||||||
(In millions) | (Parent Co.) | Subsidiaries | Subsidiaries | Eliminations | Consolidated | ||||||||||||||||
Net sales and operating revenues | $ | 827.9 | $ | 517.2 | $ | 31.9 | $ | -515.6 | $ | 861.4 | |||||||||||
Cost of products sold | 546.1 | 508.4 | 21.0 | -515.6 | 559.9 | ||||||||||||||||
Gross profit | 281.8 | 8.8 | 10.9 | — | 301.5 | ||||||||||||||||
Operating expenses: | |||||||||||||||||||||
Selling, general and administrative | 320.6 | 0.7 | 13.1 | — | 334.4 | ||||||||||||||||
Depreciation and amortization | 14.5 | — | 0.9 | — | 15.4 | ||||||||||||||||
Impairment of long-lived assets and goodwill | 2.8 | — | — | — | 2.8 | ||||||||||||||||
Total operating expenses | 337.9 | 0.7 | 14.0 | — | 352.6 | ||||||||||||||||
Operating (loss) income | -56.1 | 8.1 | -3.1 | — | -51.1 | ||||||||||||||||
Interest income | 0.2 | 2.8 | 1.4 | -4.1 | 0.3 | ||||||||||||||||
Interest expense | -17.9 | — | -0.2 | 4.1 | -14 | ||||||||||||||||
(Loss) income from continuing operations | |||||||||||||||||||||
before income taxes | -73.8 | 10.9 | -1.9 | — | -64.8 | ||||||||||||||||
Income tax (benefit) expense | -13.1 | -0.6 | 0.3 | — | -13.4 | ||||||||||||||||
Equity in earnings of subsidiaries, net of income taxes | 8.5 | -2.5 | — | -6 | — | ||||||||||||||||
(Loss) income from continuing operations | -52.2 | 9.0 | -2.2 | -6 | -51.4 | ||||||||||||||||
Discontinued operations, net of income taxes | — | -0.8 | — | — | -0.8 | ||||||||||||||||
Net (loss) income | $ | -52.2 | $ | 8.2 | $ | -2.2 | $ | -6 | $ | -52.2 | |||||||||||
Comprehensive (loss) income | $ | -56.2 | $ | 4.3 | $ | -6.2 | $ | 1.9 | $ | -56.2 | |||||||||||
Condensed Consolidating Statements of Comprehensive Income (unaudited) | |||||||||||||||||||||
For the 26 Weeks Ended August 2, 2014 | |||||||||||||||||||||
RadioShack | Non- | ||||||||||||||||||||
Corporation | Guarantor | Guarantor | |||||||||||||||||||
(In millions) | (Parent Co.) | Subsidiaries | Subsidiaries | Eliminations | Consolidated | ||||||||||||||||
Net sales and operating revenues | $ | 1,354.6 | $ | 968.2 | $ | 56.9 | $ | -969.2 | $ | 1,410.5 | |||||||||||
Cost of products sold | 891.4 | 944.9 | 37.1 | -969.2 | 904.2 | ||||||||||||||||
Gross profit | 463.2 | 23.3 | 19.8 | — | 506.3 | ||||||||||||||||
Operating expenses: | |||||||||||||||||||||
Selling, general and administrative | 621.5 | 3.0 | 35.0 | — | 659.5 | ||||||||||||||||
Depreciation and amortization | 24.2 | — | 1.6 | — | 25.8 | ||||||||||||||||
Impairment of long-lived assets and goodwill | 9.1 | — | 12.3 | — | 21.4 | ||||||||||||||||
Total operating expenses | 654.8 | 3.0 | 48.9 | — | 706.7 | ||||||||||||||||
Operating (loss) income | -191.6 | 20.3 | -29.1 | — | -200.4 | ||||||||||||||||
Interest income | 0.9 | 5.8 | 0.9 | -6.6 | 1.0 | ||||||||||||||||
Interest expense | -39.9 | — | -0.2 | 6.6 | -33.5 | ||||||||||||||||
(Loss) income from continuing operations | |||||||||||||||||||||
before income taxes | -230.6 | 26.1 | -28.4 | — | -232.9 | ||||||||||||||||
Income tax (benefit) expense | -5.4 | 10.7 | -2.5 | — | 2.8 | ||||||||||||||||
Equity in earnings of subsidiaries, net of income taxes | -10.5 | -18.4 | — | 28.9 | — | ||||||||||||||||
Loss from continuing operations | -235.7 | -3 | -25.9 | 28.9 | -235.7 | ||||||||||||||||
Net loss | $ | -235.7 | $ | -3 | $ | -25.9 | $ | 28.9 | $ | -235.7 | |||||||||||
Comprehensive loss | $ | -235.2 | $ | -2.3 | $ | -25.4 | $ | 27.7 | $ | -235.2 | |||||||||||
Condensed Consolidating Statements of Comprehensive Income (unaudited) | |||||||||||||||||||||
For the Six Months Ended July 31, 2013 | |||||||||||||||||||||
RadioShack | Non- | ||||||||||||||||||||
Corporation | Guarantor | Guarantor | |||||||||||||||||||
(In millions) | (Parent Co.) | Subsidiaries | Subsidiaries | Eliminations | Consolidated | ||||||||||||||||
Net sales and operating revenues | $ | 1,690.6 | $ | 1,276.5 | $ | 61.6 | $ | -1,318.90 | $ | 1,709.8 | |||||||||||
Cost of products sold | 1,092.3 | 1,253.5 | 40.5 | -1,318.90 | 1,067.4 | ||||||||||||||||
Gross profit | 598.3 | 23.0 | 21.1 | — | 642.4 | ||||||||||||||||
Operating expenses: | |||||||||||||||||||||
Selling, general and administrative | 642.9 | 0.3 | 24.9 | — | 668.1 | ||||||||||||||||
Depreciation and amortization | 29.8 | — | 1.7 | — | 31.5 | ||||||||||||||||
Impairment of long-lived assets and goodwill | 4.2 | — | — | — | 4.2 | ||||||||||||||||
Total operating expenses | 676.9 | 0.3 | 26.6 | — | 703.8 | ||||||||||||||||
Operating (loss) income | -78.6 | 22.7 | -5.5 | — | -61.4 | ||||||||||||||||
Interest income | 0.4 | 5.4 | 2.9 | -8 | 0.7 | ||||||||||||||||
Interest expense | -36.3 | — | -0.4 | 8.0 | -28.7 | ||||||||||||||||
Other loss | -0.3 | — | — | — | -0.3 | ||||||||||||||||
(Loss) income from continuing operations | |||||||||||||||||||||
before income taxes | -114.8 | 28.1 | -3 | — | -89.7 | ||||||||||||||||
Income tax (benefit) expense | -16.2 | 1.4 | -0.2 | — | -15 | ||||||||||||||||
Equity in earnings of subsidiaries, net of income taxes | 18.4 | -3.6 | — | -14.8 | — | ||||||||||||||||
(Loss) income from continuing operations | -80.2 | 23.1 | -2.8 | -14.8 | -74.7 | ||||||||||||||||
Discontinued operations, net of income taxes | — | -5.5 | — | — | -5.5 | ||||||||||||||||
Net (loss) income | $ | -80.2 | $ | 17.6 | $ | -2.8 | $ | -14.8 | $ | -80.2 | |||||||||||
Comprehensive (loss) income | $ | -79.9 | $ | 17.8 | $ | -2.6 | $ | -15.2 | $ | -79.9 | |||||||||||
Condensed Consolidating Balance Sheets (unaudited) | |||||||||||||||||||||
At August 2, 2014 | |||||||||||||||||||||
RadioShack | Non- | ||||||||||||||||||||
Corporation | Guarantor | Guarantor | |||||||||||||||||||
(In millions) | (Parent Co.) | Subsidiaries | Subsidiaries | Eliminations | Consolidated | ||||||||||||||||
Assets | |||||||||||||||||||||
Current assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 24.7 | $ | 0.5 | $ | 5.3 | $ | — | $ | 30.5 | |||||||||||
Accounts and notes receivable, net | 155.1 | — | 4.6 | — | 159.7 | ||||||||||||||||
Inventories | 627.9 | 15.9 | 29.6 | — | 673.4 | ||||||||||||||||
Other current assets | 57.5 | 2.1 | 6.7 | — | 66.3 | ||||||||||||||||
Intercompany receivables | — | 315.7 | — | -315.7 | — | ||||||||||||||||
Intercompany notes receivable | — | 1,795.2 | — | -1,795.20 | — | ||||||||||||||||
Total current assets | 865.2 | 2,129.4 | 46.2 | -2,110.90 | 929.9 | ||||||||||||||||
Property, plant and equipment, net | 161.7 | 0.6 | 9.9 | — | 172.2 | ||||||||||||||||
Other assets, net | 41.3 | 2.5 | 3.3 | — | 47.1 | ||||||||||||||||
Investment in subsidiaries | 2,050.0 | 16.9 | — | -2,066.90 | — | ||||||||||||||||
Total assets | $ | 3,118.2 | $ | 2,149.4 | $ | 59.4 | $ | -4,177.80 | $ | 1,149.2 | |||||||||||
Liabilities and Stockholders’ (Deficit) Equity | |||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||
Current maturities of long-term debt | $ | 1.1 | $ | — | $ | — | $ | — | $ | 1.1 | |||||||||||
Accounts payable | 101.5 | 34.9 | 16.9 | — | 153.3 | ||||||||||||||||
Accrued expenses and other current liabilities | 183.5 | 25.2 | 7.6 | — | 216.3 | ||||||||||||||||
Intercompany payables | 301.7 | — | 14.0 | -315.7 | — | ||||||||||||||||
Intercompany notes payable | 1,795.2 | — | — | -1,795.20 | — | ||||||||||||||||
Total current liabilities | 2,383.0 | 60.1 | 38.5 | -2,110.90 | 370.7 | ||||||||||||||||
Long-term debt, excluding current maturities | 656.9 | — | — | — | 656.9 | ||||||||||||||||
Other non-current liabilities | 141.3 | 41.1 | 2.2 | — | 184.6 | ||||||||||||||||
Total liabilities | 3,181.2 | 101.2 | 40.7 | -2,110.90 | 1,212.2 | ||||||||||||||||
Stockholders’ (deficit) equity | -63 | 2,048.2 | 18.7 | -2,066.90 | -63 | ||||||||||||||||
Total liabilities and stockholders’ (deficit) equity | $ | 3,118.2 | $ | 2,149.4 | $ | 59.4 | $ | -4,177.80 | $ | 1,149.2 | |||||||||||
Condensed Consolidating Balance Sheets (unaudited) | |||||||||||||||||||||
At February 1, 2014 | |||||||||||||||||||||
RadioShack | Non- | ||||||||||||||||||||
Corporation | Guarantor | Guarantor | |||||||||||||||||||
(In millions) | (Parent Co.) | Subsidiaries | Subsidiaries | Eliminations | Consolidated | ||||||||||||||||
Assets | |||||||||||||||||||||
Current assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 32.7 | $ | 61.1 | $ | 15.8 | $ | — | $ | 109.6 | |||||||||||
Accounts and notes receivable, net | 150.3 | — | 3.8 | — | 154.1 | ||||||||||||||||
Inventories | 772.4 | 13.5 | 21.9 | — | 807.8 | ||||||||||||||||
Other current assets | 74.9 | 0.8 | 4.4 | — | 80.1 | ||||||||||||||||
Intercompany receivables | — | 295.7 | — | -295.7 | — | ||||||||||||||||
Intercompany notes receivable | — | 1,735.5 | — | -1,735.50 | — | ||||||||||||||||
Total current assets | 1,030.3 | 2,106.6 | 45.9 | -2,031.20 | 1,151.6 | ||||||||||||||||
Property, plant and equipment, net | 174.6 | 0.8 | 10.9 | — | 186.3 | ||||||||||||||||
Other assets, net | 47.1 | 2.2 | 23.4 | — | 72.7 | ||||||||||||||||
Investment in subsidiaries | 2,061.8 | 36.9 | — | -2,098.70 | — | ||||||||||||||||
Total assets | $ | 3,313.8 | $ | 2,146.5 | $ | 80.2 | $ | -4,129.90 | $ | 1,410.6 | |||||||||||
Liabilities and Stockholders’ Equity | |||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||
Current maturities of long-term debt | $ | 1.1 | $ | — | $ | — | $ | — | $ | 1.1 | |||||||||||
Accounts payable | 192.3 | 29.0 | 13.4 | — | 234.7 | ||||||||||||||||
Accrued expenses and other current liabilities | 172.4 | 26.2 | 7.8 | — | 206.4 | ||||||||||||||||
Intercompany payables | 287.1 | — | 8.6 | -295.7 | — | ||||||||||||||||
Intercompany notes payable | 1,735.5 | — | — | -1,735.50 | — | ||||||||||||||||
Total current liabilities | 2,388.4 | 55.2 | 29.8 | -2,031.20 | 442.2 | ||||||||||||||||
Long-term debt, excluding current maturities | 613.0 | — | — | — | 613.0 | ||||||||||||||||
Other non-current liabilities | 143.7 | 40.7 | 2.3 | — | 186.7 | ||||||||||||||||
Total liabilities | 3,145.1 | 95.9 | 32.1 | -2,031.20 | 1,241.9 | ||||||||||||||||
Stockholders’ equity | 168.7 | 2,050.6 | 48.1 | -2,098.70 | 168.7 | ||||||||||||||||
Total liabilities and stockholders’ equity | $ | 3,313.8 | $ | 2,146.5 | $ | 80.2 | $ | -4,129.90 | $ | 1,410.6 | |||||||||||
Condensed Consolidating Balance Sheets | |||||||||||||||||||||
At December 31, 2013 | |||||||||||||||||||||
RadioShack | Non- | ||||||||||||||||||||
Corporation | Guarantor | Guarantor | |||||||||||||||||||
(In millions) | (Parent Co.) | Subsidiaries | Subsidiaries | Eliminations | Consolidated | ||||||||||||||||
Assets | |||||||||||||||||||||
Current assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 37.9 | $ | 121.2 | $ | 20.7 | $ | — | $ | 179.8 | |||||||||||
Accounts and notes receivable, net | 206.7 | 1.6 | 3.6 | — | 211.9 | ||||||||||||||||
Inventories | 762.4 | 14.7 | 25.2 | — | 802.3 | ||||||||||||||||
Other current assets | 132.8 | 0.9 | 5.3 | — | 139.0 | ||||||||||||||||
Intercompany receivables | — | 312.3 | 6.2 | -318.5 | — | ||||||||||||||||
Intercompany notes receivable | — | 1,675.0 | — | -1,675.00 | — | ||||||||||||||||
Total current assets | 1,139.8 | 2,125.7 | 61.0 | -1,993.50 | 1,333.0 | ||||||||||||||||
Property, plant and equipment, net | 175.0 | 0.8 | 11.4 | — | 187.2 | ||||||||||||||||
Other assets, net | 43.2 | 2.5 | 25.3 | — | 71.0 | ||||||||||||||||
Investment in subsidiaries | 2,060.6 | 37.9 | — | -2,098.50 | — | ||||||||||||||||
Total assets | $ | 3,418.6 | $ | 2,166.9 | $ | 97.7 | $ | -4,092.00 | $ | 1,591.2 | |||||||||||
Liabilities and Stockholders’ Equity | |||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||
Current maturities of long-term debt | $ | 1.1 | $ | — | $ | — | $ | — | $ | 1.1 | |||||||||||
Accounts payable | 304.9 | 50.2 | 21.3 | — | 376.4 | ||||||||||||||||
Accrued expenses and other current liabilities | 173.0 | 26.5 | 7.6 | — | 207.1 | ||||||||||||||||
Intercompany payables | 300.7 | — | 17.8 | -318.5 | — | ||||||||||||||||
Intercompany notes payable | 1,675.0 | — | — | -1,675.00 | — | ||||||||||||||||
Total current liabilities | 2,454.7 | 76.7 | 46.7 | -1,993.50 | 584.6 | ||||||||||||||||
Long-term debt, excluding current maturities | 613.0 | — | — | — | 613.0 | ||||||||||||||||
Other non-current liabilities | 144.5 | 40.5 | 2.2 | — | 187.2 | ||||||||||||||||
Total liabilities | 3,212.2 | 117.2 | 48.9 | -1,993.50 | 1,384.8 | ||||||||||||||||
Stockholders’ equity | 206.4 | 2,049.7 | 48.8 | -2,098.50 | 206.4 | ||||||||||||||||
Total liabilities and stockholders’ equity | $ | 3,418.6 | $ | 2,166.9 | $ | 97.7 | $ | -4,092.00 | $ | 1,591.2 | |||||||||||
Condensed Consolidating Statements of Cash Flows (unaudited) | |||||||||||||||||||||
For the 26 Weeks Ended August 2, 2014 | |||||||||||||||||||||
RadioShack | Non- | ||||||||||||||||||||
Corporation | Guarantor | Guarantor | |||||||||||||||||||
(In millions) | (Parent Co.) | Subsidiaries | Subsidiaries | Eliminations | Consolidated | ||||||||||||||||
Net cash (used in) provided by operating activities | $ | -128.8 | $ | 19.1 | $ | -15.3 | $ | — | $ | -125 | |||||||||||
Cash flows from investing activities: | |||||||||||||||||||||
Additions to property, plant and equipment | -27.9 | — | -0.4 | — | -28.3 | ||||||||||||||||
Changes in restricted cash | 2.9 | — | — | — | 2.9 | ||||||||||||||||
Return of capital from subsidiary | 0.2 | 0.2 | — | -0.4 | — | ||||||||||||||||
Net cash (used in) provided by investing activities | -24.8 | 0.2 | -0.4 | -0.4 | -25.4 | ||||||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||
Proceeds from issuance of long-term debt | 136.5 | — | — | — | 136.5 | ||||||||||||||||
Repayments of long-term debt | -93.5 | — | — | — | -93.5 | ||||||||||||||||
Changes in cash overdrafts | 28.3 | — | — | — | 28.3 | ||||||||||||||||
Payment of capital distribution | — | -0.2 | -0.2 | 0.4 | — | ||||||||||||||||
Change in intercompany receivable/payable | 74.3 | -79.7 | 5.4 | — | — | ||||||||||||||||
Net cash provided by (used in) financing activities | 145.6 | -79.9 | 5.2 | 0.4 | 71.3 | ||||||||||||||||
Net decrease in cash and cash equivalents | -8 | -60.6 | -10.5 | — | -79.1 | ||||||||||||||||
Cash and cash equivalents, beginning of period | 32.7 | 61.1 | 15.8 | — | 109.6 | ||||||||||||||||
Cash and cash equivalents, end of period | $ | 24.7 | $ | 0.5 | $ | 5.3 | $ | — | $ | 30.5 | |||||||||||
Condensed Consolidating Statements of Cash Flows (unaudited) | |||||||||||||||||||||
For the Six Months Ended July 31, 2013 | |||||||||||||||||||||
RadioShack | Non- | ||||||||||||||||||||
Corporation | Guarantor | Guarantor | |||||||||||||||||||
(In millions) | (Parent Co.) | Subsidiaries | Subsidiaries | Eliminations | Consolidated | ||||||||||||||||
Net cash provided by operating activities | $ | 24.6 | $ | 112.4 | $ | 0.6 | $ | -1.7 | $ | 135.9 | |||||||||||
Cash flows from investing activities: | |||||||||||||||||||||
Additions to property, plant and equipment | -15.7 | — | -0.9 | — | -16.6 | ||||||||||||||||
Proceeds from sale of property, plant and equipment | 0.2 | 6.3 | — | — | 6.5 | ||||||||||||||||
Changes in restricted cash | -5.6 | — | — | — | -5.6 | ||||||||||||||||
Return of capital from subsidiary | 6.0 | 6.0 | — | -12 | — | ||||||||||||||||
Net cash (used in) provided by investing activities | -15.1 | 12.3 | -0.9 | -12 | -15.7 | ||||||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||
Repayment of principal on convertible debt | -72.5 | — | — | — | -72.5 | ||||||||||||||||
Payments of dividends | — | — | -1.7 | 1.7 | — | ||||||||||||||||
Changes in cash overdrafts | -11 | — | — | — | -11 | ||||||||||||||||
Payment of capital distribution | — | -6 | -6 | 12.0 | — | ||||||||||||||||
Change in intercompany receivable/payable | 74.3 | -83 | 8.7 | — | — | ||||||||||||||||
Net cash (used in) provided by financing activities | -9.2 | -89 | 1.0 | 13.7 | -83.5 | ||||||||||||||||
Net increase in cash and cash equivalents | 0.3 | 35.7 | 0.7 | — | 36.7 | ||||||||||||||||
Cash and cash equivalents, beginning of period | 78.9 | 306.4 | 17.9 | — | 403.2 | ||||||||||||||||
Cash and cash equivalents, end of period | $ | 79.2 | $ | 342.1 | $ | 18.6 | $ | — | $ | 439.9 | |||||||||||
Discontinued_Operations_Policy
Discontinued Operations (Policy) | 6 Months Ended |
Aug. 02, 2014 | |
Discontinued Operations [Abstract] | ' |
Discontinued Operations Policy | ' |
We account for closed retail locations as discontinued operations when the cash flows of a retail location have been eliminated from our ongoing operations and we do not have any significant continuing involvement in its operations. In reaching the determination as to whether the cash flows of a retail location have been eliminated from our ongoing operations, we consider whether it is likely that customers will migrate to our other retail locations in the same geographic market. | |
We ceased operating all of our Target Mobile centers prior to March 31, 2013. See Note 1 – “Description of Business – Discontinued Operations” included in our Annual Report on Form 10-K for the year ended December 31, 2013, for further information. | |
Indebtedness_And_Borrowing_Fac1
Indebtedness And Borrowing Facilities (Tables) | 6 Months Ended | ||||||||||||
Aug. 02, 2014 | |||||||||||||
Indebtedness And Borrowing Facilities [Abstract] | ' | ||||||||||||
Long-Term Debt | ' | ||||||||||||
August 2, | February 1, | December 31, | |||||||||||
(In millions) | 2014 | 2014 | 2013 | ||||||||||
Term loan due in December 2018 | $ | 250.0 | $ | 250.0 | $ | 250.0 | |||||||
Credit facility term loan due in December 2018 | 50.0 | 50.0 | 50.0 | ||||||||||
6.75% unsecured notes due in May 2019 | 325.0 | 325.0 | 325.0 | ||||||||||
2018 Credit Facility | 43.0 | — | — | ||||||||||
Other | 1.2 | 1.2 | 1.4 | ||||||||||
669.2 | 626.2 | 626.4 | |||||||||||
Unamortized debt discounts | -11.2 | -12.1 | -12.3 | ||||||||||
658.0 | 614.1 | 614.1 | |||||||||||
Less current portion of: | |||||||||||||
Other | 1.1 | 1.1 | 1.1 | ||||||||||
Total long-term debt | $ | 656.9 | $ | 613.0 | $ | 613.0 | |||||||
Net_Loss_Per_Share_Tables
Net Loss Per Share (Tables) | 6 Months Ended | ||||||||||||||||
Aug. 02, 2014 | |||||||||||||||||
Net Loss Per Share [Abstract] | ' | ||||||||||||||||
Schedule Of Basic And Diluted Net Loss Per Share Calculations | ' | ||||||||||||||||
13 Weeks Ended | Three Months Ended | 26 Weeks Ended | Six Months Ended | ||||||||||||||
August 2, | July 31, | August 2, | July 31, | ||||||||||||||
(In millions) | 2014 | 2013 | 2014 | 2013 | |||||||||||||
Numerator: | |||||||||||||||||
Loss from continuing operations | $ | -137.4 | $ | -51.4 | $ | -235.7 | $ | -74.7 | |||||||||
Discontinued operations, net of taxes | — | -0.8 | — | -5.5 | |||||||||||||
Net loss | $ | -137.4 | $ | -52.2 | $ | -235.7 | $ | -80.2 | |||||||||
Denominator: | |||||||||||||||||
Weighted-average common shares outstanding | 101.9 | 100.7 | 101.9 | 100.7 | |||||||||||||
Dilutive effect of stock-based awards | — | — | — | — | |||||||||||||
Weighted-average shares for diluted net loss per share | 101.9 | 100.7 | 101.9 | 100.7 | |||||||||||||
Common Stock Equivalents That Were Not Included In The Calculation Of Diluted Net Loss Per Share | ' | ||||||||||||||||
13 Weeks Ended | Three Months Ended | 26 Weeks Ended | Six Months Ended | ||||||||||||||
August 2, | July 31, | August 2, | July 31, | ||||||||||||||
(In millions) | 2014 | 2013 | 2014 | 2013 | |||||||||||||
Employee stock options (1) (2) | 7.9 | 8.5 | 7.9 | 8.5 | |||||||||||||
Warrants to purchase common stock (3) | — | 15.8 | — | 15.8 | |||||||||||||
-1 | Certain employee stock options were excluded from weighted-average shares for diluted net loss per share because the exercise prices exceeded the average market price of our common stock during the period and the effect of their inclusion would be antidilutive. For both the 13 weeks and 26 weeks ended August 2, 2014, 7.9 million employee stock options were excluded for this reason, compared with 5.3 million for both the three and six months ended July 31, 2013. | ||||||||||||||||
-2 | Certain employee stock options were excluded from weighted-average shares for diluted net loss per share because the effect of their inclusion would reduce our net loss per share and would be antidilutive. For the 13 weeks and 26 weeks ended August 2, 2014, no employee stock options were excluded from these periods for this reason. For the three and six months ended July 31, 2013, 3.2 million employee stock options were excluded from these periods for this reason. | ||||||||||||||||
These common stock equivalents were excluded because the exercise price ($35.88 per share for all periods) exceeded the average market price of our common stock during these periods and the effect of their inclusion would be antidilutive. The warrants expired in March 2014. | |||||||||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 6 Months Ended | ||||||||||||||||||||
Aug. 02, 2014 | |||||||||||||||||||||
Fair Value Measurements [Abstract] | ' | ||||||||||||||||||||
Assets And Liabilities Measured At Fair Value On A Nonrecurring Basis | ' | ||||||||||||||||||||
Basis of Fair Value Measurements | |||||||||||||||||||||
Quoted Prices | Significant | ||||||||||||||||||||
in Active | Other | Significant | |||||||||||||||||||
Fair Value | Markets for | Observable | Unobservable | ||||||||||||||||||
of Assets | Identical Items | Inputs | Inputs | ||||||||||||||||||
(In millions) | (Liabilities) | (Level 1) | (Level 2) | (Level 3) | |||||||||||||||||
As of August 2, 2014 | |||||||||||||||||||||
Long-lived assets held and used | $ | 1.0 | — | — | $ | 1.0 | |||||||||||||||
As of February 1, 2014 | |||||||||||||||||||||
Long-lived assets held and used | $ | 0.6 | — | — | $ | 0.6 | |||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||
Long-lived assets held and used | $ | 9.6 | — | — | $ | 9.6 | |||||||||||||||
Carrying Amounts And Related Estimated Fair Value Of Debt Instruments | ' | ||||||||||||||||||||
Basis of Fair Value Measurements | |||||||||||||||||||||
Quoted Prices | Significant | ||||||||||||||||||||
in Active | Other | Significant | |||||||||||||||||||
Markets for | Observable | Unobservable | |||||||||||||||||||
Carrying | Fair Value | Identical Items | Inputs | Inputs | |||||||||||||||||
(In millions) | Amount | of Liabilities | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||||
As of August 2, 2014 | |||||||||||||||||||||
2019 Notes | $ | 323.5 | $ | 133.3 | $ | — | $ | 133.3 | $ | — | |||||||||||
Secured term loans | $ | 290.4 | $ | 278.8 | $ | — | $ | — | $ | 278.8 | |||||||||||
2018 Credit Facility | $ | 43.0 | $ | 41.0 | $ | — | $ | — | $ | 41.0 | |||||||||||
Other | $ | 1.1 | $ | 1.1 | $ | — | $ | — | $ | 1.1 | |||||||||||
As of February 1, 2014 | |||||||||||||||||||||
2019 Notes | $ | 323.4 | $ | 195.0 | $ | — | $ | 195.0 | $ | — | |||||||||||
Secured term loans | $ | 289.5 | $ | 289.5 | $ | — | $ | — | $ | 289.5 | |||||||||||
Other | $ | 1.1 | $ | 1.1 | $ | — | $ | — | $ | 1.1 | |||||||||||
As of December 31, 2013 | |||||||||||||||||||||
2019 Notes | $ | 323.3 | $ | 197.9 | $ | — | $ | 197.9 | $ | — | |||||||||||
Secured term loans | $ | 289.4 | $ | 289.4 | $ | — | $ | — | $ | 289.4 | |||||||||||
Other | $ | 1.4 | $ | 1.4 | $ | — | $ | — | $ | 1.4 | |||||||||||
Segment_Reporting_Tables
Segment Reporting (Tables) | 6 Months Ended | ||||||||||||||||
Aug. 02, 2014 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Schedule Of Operating Income (Loss) By Reportable Segment And Reconciliation To Loss From Continuing Operations Before Income Taxes | ' | ||||||||||||||||
Revenue by reportable segment is as follows: | |||||||||||||||||
13 Weeks Ended | Three Months Ended | 26 Weeks Ended | Six Months Ended | ||||||||||||||
August 2, | July 31, | August 2, | July 31, | ||||||||||||||
(In millions) | 2014 | 2013 | 2014 | 2013 | |||||||||||||
U.S. RadioShack company-operated stores | $ | 607.1 | $ | 784.7 | $ | 1,281.2 | $ | 1,560.9 | |||||||||
Other | 66.7 | 76.7 | 129.3 | 148.9 | |||||||||||||
$ | 673.8 | $ | 861.4 | $ | 1,410.5 | $ | 1,709.8 | ||||||||||
Operating income (loss) by reportable segment and the reconciliation to loss from continuing operations before income taxes are as follows: | |||||||||||||||||
13 Weeks Ended | Three Months Ended | 26 Weeks Ended | Six Months Ended | ||||||||||||||
August 2, | July 31, | August 2, | July 31, | ||||||||||||||
(In millions) | 2014 | 2013 | 2014 | 2013 | |||||||||||||
U.S. RadioShack company-operated stores | $ | -8.8 | $ | 26.5 | $ | 10.8 | $ | 94.1 | |||||||||
Other | -11.9 | 2.9 | -12.3 | 9.3 | |||||||||||||
-20.7 | 29.4 | -1.5 | 103.4 | ||||||||||||||
Unallocated (1) | -98.7 | -80.5 | -198.9 | -164.8 | |||||||||||||
Operating loss | -119.4 | -51.1 | -200.4 | -61.4 | |||||||||||||
Interest income | 0.3 | 0.3 | 1.0 | 0.7 | |||||||||||||
Interest expense | -16.9 | -14 | -33.5 | -28.7 | |||||||||||||
Other loss | — | — | — | -0.3 | |||||||||||||
Loss from continuing operations before income taxes | $ | -136 | $ | -64.8 | $ | -232.9 | $ | -89.7 | |||||||||
The unallocated category included in operating income relates to our overhead and corporate expenses that are not allocated to our operating segments for management reporting purposes. Unallocated costs include corporate departmental expenses such as labor and benefits, advertising, insurance, distribution and information technology costs, plus certain unusual or infrequent gains or losses. | |||||||||||||||||
Supplemental_Guarantor_Financi1
Supplemental Guarantor Financial Information (Tables) | 6 Months Ended | ||||||||||||||||||||
Aug. 02, 2014 | |||||||||||||||||||||
Supplemental Guarantor Financial Information [Abstract] | ' | ||||||||||||||||||||
Condensed Consolidating Statements Of Comprehensive Income | ' | ||||||||||||||||||||
Condensed Consolidating Statements of Comprehensive Income (unaudited) | |||||||||||||||||||||
For the 13 Weeks Ended August 2, 2014 | |||||||||||||||||||||
RadioShack | Non- | ||||||||||||||||||||
Corporation | Guarantor | Guarantor | |||||||||||||||||||
(In millions) | (Parent Co.) | Subsidiaries | Subsidiaries | Eliminations | Consolidated | ||||||||||||||||
Net sales and operating revenues | $ | 643.0 | $ | 433.0 | $ | 31.4 | $ | -433.6 | $ | 673.8 | |||||||||||
Cost of products sold | 429.3 | 419.8 | 20.7 | -433.6 | 436.2 | ||||||||||||||||
Gross profit | 213.7 | 13.2 | 10.7 | — | 237.6 | ||||||||||||||||
Operating expenses: | |||||||||||||||||||||
Selling, general and administrative | 297.8 | 1.7 | 24.1 | — | 323.6 | ||||||||||||||||
Depreciation and amortization | 11.9 | — | 0.9 | — | 12.8 | ||||||||||||||||
Impairment of long-lived assets and goodwill | 8.3 | — | 12.3 | — | 20.6 | ||||||||||||||||
Total operating expenses | 318.0 | 1.7 | 37.3 | — | 357.0 | ||||||||||||||||
Operating (loss) income | -104.3 | 11.5 | -26.6 | — | -119.4 | ||||||||||||||||
Interest income | 0.2 | 3.0 | -0.4 | -2.5 | 0.3 | ||||||||||||||||
Interest expense | -19.3 | — | -0.1 | 2.5 | -16.9 | ||||||||||||||||
(Loss) income from continuing operations | |||||||||||||||||||||
before income taxes | -123.4 | 14.5 | -27.1 | — | -136 | ||||||||||||||||
Income tax (benefit) expense | -1.7 | 5.9 | -2.8 | — | 1.4 | ||||||||||||||||
Equity in earnings of subsidiaries, net of income taxes | -15.7 | -16.2 | — | 31.9 | — | ||||||||||||||||
Loss from continuing operations | -137.4 | -7.6 | -24.3 | 31.9 | -137.4 | ||||||||||||||||
Net loss | $ | -137.4 | $ | -7.6 | $ | -24.3 | $ | 31.9 | $ | -137.4 | |||||||||||
Comprehensive loss | $ | -137.5 | $ | -7.6 | $ | -24.4 | $ | 32.0 | $ | -137.5 | |||||||||||
Condensed Consolidating Statements of Comprehensive Income (unaudited) | |||||||||||||||||||||
For the Three Months Ended July 31, 2013 | |||||||||||||||||||||
RadioShack | Non- | ||||||||||||||||||||
Corporation | Guarantor | Guarantor | |||||||||||||||||||
(In millions) | (Parent Co.) | Subsidiaries | Subsidiaries | Eliminations | Consolidated | ||||||||||||||||
Net sales and operating revenues | $ | 827.9 | $ | 517.2 | $ | 31.9 | $ | -515.6 | $ | 861.4 | |||||||||||
Cost of products sold | 546.1 | 508.4 | 21.0 | -515.6 | 559.9 | ||||||||||||||||
Gross profit | 281.8 | 8.8 | 10.9 | — | 301.5 | ||||||||||||||||
Operating expenses: | |||||||||||||||||||||
Selling, general and administrative | 320.6 | 0.7 | 13.1 | — | 334.4 | ||||||||||||||||
Depreciation and amortization | 14.5 | — | 0.9 | — | 15.4 | ||||||||||||||||
Impairment of long-lived assets and goodwill | 2.8 | — | — | — | 2.8 | ||||||||||||||||
Total operating expenses | 337.9 | 0.7 | 14.0 | — | 352.6 | ||||||||||||||||
Operating (loss) income | -56.1 | 8.1 | -3.1 | — | -51.1 | ||||||||||||||||
Interest income | 0.2 | 2.8 | 1.4 | -4.1 | 0.3 | ||||||||||||||||
Interest expense | -17.9 | — | -0.2 | 4.1 | -14 | ||||||||||||||||
(Loss) income from continuing operations | |||||||||||||||||||||
before income taxes | -73.8 | 10.9 | -1.9 | — | -64.8 | ||||||||||||||||
Income tax (benefit) expense | -13.1 | -0.6 | 0.3 | — | -13.4 | ||||||||||||||||
Equity in earnings of subsidiaries, net of income taxes | 8.5 | -2.5 | — | -6 | — | ||||||||||||||||
(Loss) income from continuing operations | -52.2 | 9.0 | -2.2 | -6 | -51.4 | ||||||||||||||||
Discontinued operations, net of income taxes | — | -0.8 | — | — | -0.8 | ||||||||||||||||
Net (loss) income | $ | -52.2 | $ | 8.2 | $ | -2.2 | $ | -6 | $ | -52.2 | |||||||||||
Comprehensive (loss) income | $ | -56.2 | $ | 4.3 | $ | -6.2 | $ | 1.9 | $ | -56.2 | |||||||||||
Condensed Consolidating Statements of Comprehensive Income (unaudited) | |||||||||||||||||||||
For the 26 Weeks Ended August 2, 2014 | |||||||||||||||||||||
RadioShack | Non- | ||||||||||||||||||||
Corporation | Guarantor | Guarantor | |||||||||||||||||||
(In millions) | (Parent Co.) | Subsidiaries | Subsidiaries | Eliminations | Consolidated | ||||||||||||||||
Net sales and operating revenues | $ | 1,354.6 | $ | 968.2 | $ | 56.9 | $ | -969.2 | $ | 1,410.5 | |||||||||||
Cost of products sold | 891.4 | 944.9 | 37.1 | -969.2 | 904.2 | ||||||||||||||||
Gross profit | 463.2 | 23.3 | 19.8 | — | 506.3 | ||||||||||||||||
Operating expenses: | |||||||||||||||||||||
Selling, general and administrative | 621.5 | 3.0 | 35.0 | — | 659.5 | ||||||||||||||||
Depreciation and amortization | 24.2 | — | 1.6 | — | 25.8 | ||||||||||||||||
Impairment of long-lived assets and goodwill | 9.1 | — | 12.3 | — | 21.4 | ||||||||||||||||
Total operating expenses | 654.8 | 3.0 | 48.9 | — | 706.7 | ||||||||||||||||
Operating (loss) income | -191.6 | 20.3 | -29.1 | — | -200.4 | ||||||||||||||||
Interest income | 0.9 | 5.8 | 0.9 | -6.6 | 1.0 | ||||||||||||||||
Interest expense | -39.9 | — | -0.2 | 6.6 | -33.5 | ||||||||||||||||
(Loss) income from continuing operations | |||||||||||||||||||||
before income taxes | -230.6 | 26.1 | -28.4 | — | -232.9 | ||||||||||||||||
Income tax (benefit) expense | -5.4 | 10.7 | -2.5 | — | 2.8 | ||||||||||||||||
Equity in earnings of subsidiaries, net of income taxes | -10.5 | -18.4 | — | 28.9 | — | ||||||||||||||||
Loss from continuing operations | -235.7 | -3 | -25.9 | 28.9 | -235.7 | ||||||||||||||||
Net loss | $ | -235.7 | $ | -3 | $ | -25.9 | $ | 28.9 | $ | -235.7 | |||||||||||
Comprehensive loss | $ | -235.2 | $ | -2.3 | $ | -25.4 | $ | 27.7 | $ | -235.2 | |||||||||||
Condensed Consolidating Statements of Comprehensive Income (unaudited) | |||||||||||||||||||||
For the Six Months Ended July 31, 2013 | |||||||||||||||||||||
RadioShack | Non- | ||||||||||||||||||||
Corporation | Guarantor | Guarantor | |||||||||||||||||||
(In millions) | (Parent Co.) | Subsidiaries | Subsidiaries | Eliminations | Consolidated | ||||||||||||||||
Net sales and operating revenues | $ | 1,690.6 | $ | 1,276.5 | $ | 61.6 | $ | -1,318.90 | $ | 1,709.8 | |||||||||||
Cost of products sold | 1,092.3 | 1,253.5 | 40.5 | -1,318.90 | 1,067.4 | ||||||||||||||||
Gross profit | 598.3 | 23.0 | 21.1 | — | 642.4 | ||||||||||||||||
Operating expenses: | |||||||||||||||||||||
Selling, general and administrative | 642.9 | 0.3 | 24.9 | — | 668.1 | ||||||||||||||||
Depreciation and amortization | 29.8 | — | 1.7 | — | 31.5 | ||||||||||||||||
Impairment of long-lived assets and goodwill | 4.2 | — | — | — | 4.2 | ||||||||||||||||
Total operating expenses | 676.9 | 0.3 | 26.6 | — | 703.8 | ||||||||||||||||
Operating (loss) income | -78.6 | 22.7 | -5.5 | — | -61.4 | ||||||||||||||||
Interest income | 0.4 | 5.4 | 2.9 | -8 | 0.7 | ||||||||||||||||
Interest expense | -36.3 | — | -0.4 | 8.0 | -28.7 | ||||||||||||||||
Other loss | -0.3 | — | — | — | -0.3 | ||||||||||||||||
(Loss) income from continuing operations | |||||||||||||||||||||
before income taxes | -114.8 | 28.1 | -3 | — | -89.7 | ||||||||||||||||
Income tax (benefit) expense | -16.2 | 1.4 | -0.2 | — | -15 | ||||||||||||||||
Equity in earnings of subsidiaries, net of income taxes | 18.4 | -3.6 | — | -14.8 | — | ||||||||||||||||
(Loss) income from continuing operations | -80.2 | 23.1 | -2.8 | -14.8 | -74.7 | ||||||||||||||||
Discontinued operations, net of income taxes | — | -5.5 | — | — | -5.5 | ||||||||||||||||
Net (loss) income | $ | -80.2 | $ | 17.6 | $ | -2.8 | $ | -14.8 | $ | -80.2 | |||||||||||
Comprehensive (loss) income | $ | -79.9 | $ | 17.8 | $ | -2.6 | $ | -15.2 | $ | -79.9 | |||||||||||
Condensed Consolidating Balance Sheets | ' | ||||||||||||||||||||
Condensed Consolidating Balance Sheets (unaudited) | |||||||||||||||||||||
At August 2, 2014 | |||||||||||||||||||||
RadioShack | Non- | ||||||||||||||||||||
Corporation | Guarantor | Guarantor | |||||||||||||||||||
(In millions) | (Parent Co.) | Subsidiaries | Subsidiaries | Eliminations | Consolidated | ||||||||||||||||
Assets | |||||||||||||||||||||
Current assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 24.7 | $ | 0.5 | $ | 5.3 | $ | — | $ | 30.5 | |||||||||||
Accounts and notes receivable, net | 155.1 | — | 4.6 | — | 159.7 | ||||||||||||||||
Inventories | 627.9 | 15.9 | 29.6 | — | 673.4 | ||||||||||||||||
Other current assets | 57.5 | 2.1 | 6.7 | — | 66.3 | ||||||||||||||||
Intercompany receivables | — | 315.7 | — | -315.7 | — | ||||||||||||||||
Intercompany notes receivable | — | 1,795.2 | — | -1,795.20 | — | ||||||||||||||||
Total current assets | 865.2 | 2,129.4 | 46.2 | -2,110.90 | 929.9 | ||||||||||||||||
Property, plant and equipment, net | 161.7 | 0.6 | 9.9 | — | 172.2 | ||||||||||||||||
Other assets, net | 41.3 | 2.5 | 3.3 | — | 47.1 | ||||||||||||||||
Investment in subsidiaries | 2,050.0 | 16.9 | — | -2,066.90 | — | ||||||||||||||||
Total assets | $ | 3,118.2 | $ | 2,149.4 | $ | 59.4 | $ | -4,177.80 | $ | 1,149.2 | |||||||||||
Liabilities and Stockholders’ (Deficit) Equity | |||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||
Current maturities of long-term debt | $ | 1.1 | $ | — | $ | — | $ | — | $ | 1.1 | |||||||||||
Accounts payable | 101.5 | 34.9 | 16.9 | — | 153.3 | ||||||||||||||||
Accrued expenses and other current liabilities | 183.5 | 25.2 | 7.6 | — | 216.3 | ||||||||||||||||
Intercompany payables | 301.7 | — | 14.0 | -315.7 | — | ||||||||||||||||
Intercompany notes payable | 1,795.2 | — | — | -1,795.20 | — | ||||||||||||||||
Total current liabilities | 2,383.0 | 60.1 | 38.5 | -2,110.90 | 370.7 | ||||||||||||||||
Long-term debt, excluding current maturities | 656.9 | — | — | — | 656.9 | ||||||||||||||||
Other non-current liabilities | 141.3 | 41.1 | 2.2 | — | 184.6 | ||||||||||||||||
Total liabilities | 3,181.2 | 101.2 | 40.7 | -2,110.90 | 1,212.2 | ||||||||||||||||
Stockholders’ (deficit) equity | -63 | 2,048.2 | 18.7 | -2,066.90 | -63 | ||||||||||||||||
Total liabilities and stockholders’ (deficit) equity | $ | 3,118.2 | $ | 2,149.4 | $ | 59.4 | $ | -4,177.80 | $ | 1,149.2 | |||||||||||
Condensed Consolidating Balance Sheets (unaudited) | |||||||||||||||||||||
At February 1, 2014 | |||||||||||||||||||||
RadioShack | Non- | ||||||||||||||||||||
Corporation | Guarantor | Guarantor | |||||||||||||||||||
(In millions) | (Parent Co.) | Subsidiaries | Subsidiaries | Eliminations | Consolidated | ||||||||||||||||
Assets | |||||||||||||||||||||
Current assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 32.7 | $ | 61.1 | $ | 15.8 | $ | — | $ | 109.6 | |||||||||||
Accounts and notes receivable, net | 150.3 | — | 3.8 | — | 154.1 | ||||||||||||||||
Inventories | 772.4 | 13.5 | 21.9 | — | 807.8 | ||||||||||||||||
Other current assets | 74.9 | 0.8 | 4.4 | — | 80.1 | ||||||||||||||||
Intercompany receivables | — | 295.7 | — | -295.7 | — | ||||||||||||||||
Intercompany notes receivable | — | 1,735.5 | — | -1,735.50 | — | ||||||||||||||||
Total current assets | 1,030.3 | 2,106.6 | 45.9 | -2,031.20 | 1,151.6 | ||||||||||||||||
Property, plant and equipment, net | 174.6 | 0.8 | 10.9 | — | 186.3 | ||||||||||||||||
Other assets, net | 47.1 | 2.2 | 23.4 | — | 72.7 | ||||||||||||||||
Investment in subsidiaries | 2,061.8 | 36.9 | — | -2,098.70 | — | ||||||||||||||||
Total assets | $ | 3,313.8 | $ | 2,146.5 | $ | 80.2 | $ | -4,129.90 | $ | 1,410.6 | |||||||||||
Liabilities and Stockholders’ Equity | |||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||
Current maturities of long-term debt | $ | 1.1 | $ | — | $ | — | $ | — | $ | 1.1 | |||||||||||
Accounts payable | 192.3 | 29.0 | 13.4 | — | 234.7 | ||||||||||||||||
Accrued expenses and other current liabilities | 172.4 | 26.2 | 7.8 | — | 206.4 | ||||||||||||||||
Intercompany payables | 287.1 | — | 8.6 | -295.7 | — | ||||||||||||||||
Intercompany notes payable | 1,735.5 | — | — | -1,735.50 | — | ||||||||||||||||
Total current liabilities | 2,388.4 | 55.2 | 29.8 | -2,031.20 | 442.2 | ||||||||||||||||
Long-term debt, excluding current maturities | 613.0 | — | — | — | 613.0 | ||||||||||||||||
Other non-current liabilities | 143.7 | 40.7 | 2.3 | — | 186.7 | ||||||||||||||||
Total liabilities | 3,145.1 | 95.9 | 32.1 | -2,031.20 | 1,241.9 | ||||||||||||||||
Stockholders’ equity | 168.7 | 2,050.6 | 48.1 | -2,098.70 | 168.7 | ||||||||||||||||
Total liabilities and stockholders’ equity | $ | 3,313.8 | $ | 2,146.5 | $ | 80.2 | $ | -4,129.90 | $ | 1,410.6 | |||||||||||
Condensed Consolidating Balance Sheets | |||||||||||||||||||||
At December 31, 2013 | |||||||||||||||||||||
RadioShack | Non- | ||||||||||||||||||||
Corporation | Guarantor | Guarantor | |||||||||||||||||||
(In millions) | (Parent Co.) | Subsidiaries | Subsidiaries | Eliminations | Consolidated | ||||||||||||||||
Assets | |||||||||||||||||||||
Current assets: | |||||||||||||||||||||
Cash and cash equivalents | $ | 37.9 | $ | 121.2 | $ | 20.7 | $ | — | $ | 179.8 | |||||||||||
Accounts and notes receivable, net | 206.7 | 1.6 | 3.6 | — | 211.9 | ||||||||||||||||
Inventories | 762.4 | 14.7 | 25.2 | — | 802.3 | ||||||||||||||||
Other current assets | 132.8 | 0.9 | 5.3 | — | 139.0 | ||||||||||||||||
Intercompany receivables | — | 312.3 | 6.2 | -318.5 | — | ||||||||||||||||
Intercompany notes receivable | — | 1,675.0 | — | -1,675.00 | — | ||||||||||||||||
Total current assets | 1,139.8 | 2,125.7 | 61.0 | -1,993.50 | 1,333.0 | ||||||||||||||||
Property, plant and equipment, net | 175.0 | 0.8 | 11.4 | — | 187.2 | ||||||||||||||||
Other assets, net | 43.2 | 2.5 | 25.3 | — | 71.0 | ||||||||||||||||
Investment in subsidiaries | 2,060.6 | 37.9 | — | -2,098.50 | — | ||||||||||||||||
Total assets | $ | 3,418.6 | $ | 2,166.9 | $ | 97.7 | $ | -4,092.00 | $ | 1,591.2 | |||||||||||
Liabilities and Stockholders’ Equity | |||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||
Current maturities of long-term debt | $ | 1.1 | $ | — | $ | — | $ | — | $ | 1.1 | |||||||||||
Accounts payable | 304.9 | 50.2 | 21.3 | — | 376.4 | ||||||||||||||||
Accrued expenses and other current liabilities | 173.0 | 26.5 | 7.6 | — | 207.1 | ||||||||||||||||
Intercompany payables | 300.7 | — | 17.8 | -318.5 | — | ||||||||||||||||
Intercompany notes payable | 1,675.0 | — | — | -1,675.00 | — | ||||||||||||||||
Total current liabilities | 2,454.7 | 76.7 | 46.7 | -1,993.50 | 584.6 | ||||||||||||||||
Long-term debt, excluding current maturities | 613.0 | — | — | — | 613.0 | ||||||||||||||||
Other non-current liabilities | 144.5 | 40.5 | 2.2 | — | 187.2 | ||||||||||||||||
Total liabilities | 3,212.2 | 117.2 | 48.9 | -1,993.50 | 1,384.8 | ||||||||||||||||
Stockholders’ equity | 206.4 | 2,049.7 | 48.8 | -2,098.50 | 206.4 | ||||||||||||||||
Total liabilities and stockholders’ equity | $ | 3,418.6 | $ | 2,166.9 | $ | 97.7 | $ | -4,092.00 | $ | 1,591.2 | |||||||||||
Condensed Consolidating Statements Of Cash Flows | ' | ||||||||||||||||||||
Condensed Consolidating Statements of Cash Flows (unaudited) | |||||||||||||||||||||
For the 26 Weeks Ended August 2, 2014 | |||||||||||||||||||||
RadioShack | Non- | ||||||||||||||||||||
Corporation | Guarantor | Guarantor | |||||||||||||||||||
(In millions) | (Parent Co.) | Subsidiaries | Subsidiaries | Eliminations | Consolidated | ||||||||||||||||
Net cash (used in) provided by operating activities | $ | -128.8 | $ | 19.1 | $ | -15.3 | $ | — | $ | -125 | |||||||||||
Cash flows from investing activities: | |||||||||||||||||||||
Additions to property, plant and equipment | -27.9 | — | -0.4 | — | -28.3 | ||||||||||||||||
Changes in restricted cash | 2.9 | — | — | — | 2.9 | ||||||||||||||||
Return of capital from subsidiary | 0.2 | 0.2 | — | -0.4 | — | ||||||||||||||||
Net cash (used in) provided by investing activities | -24.8 | 0.2 | -0.4 | -0.4 | -25.4 | ||||||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||
Proceeds from issuance of long-term debt | 136.5 | — | — | — | 136.5 | ||||||||||||||||
Repayments of long-term debt | -93.5 | — | — | — | -93.5 | ||||||||||||||||
Changes in cash overdrafts | 28.3 | — | — | — | 28.3 | ||||||||||||||||
Payment of capital distribution | — | -0.2 | -0.2 | 0.4 | — | ||||||||||||||||
Change in intercompany receivable/payable | 74.3 | -79.7 | 5.4 | — | — | ||||||||||||||||
Net cash provided by (used in) financing activities | 145.6 | -79.9 | 5.2 | 0.4 | 71.3 | ||||||||||||||||
Net decrease in cash and cash equivalents | -8 | -60.6 | -10.5 | — | -79.1 | ||||||||||||||||
Cash and cash equivalents, beginning of period | 32.7 | 61.1 | 15.8 | — | 109.6 | ||||||||||||||||
Cash and cash equivalents, end of period | $ | 24.7 | $ | 0.5 | $ | 5.3 | $ | — | $ | 30.5 | |||||||||||
Condensed Consolidating Statements of Cash Flows (unaudited) | |||||||||||||||||||||
For the Six Months Ended July 31, 2013 | |||||||||||||||||||||
RadioShack | Non- | ||||||||||||||||||||
Corporation | Guarantor | Guarantor | |||||||||||||||||||
(In millions) | (Parent Co.) | Subsidiaries | Subsidiaries | Eliminations | Consolidated | ||||||||||||||||
Net cash provided by operating activities | $ | 24.6 | $ | 112.4 | $ | 0.6 | $ | -1.7 | $ | 135.9 | |||||||||||
Cash flows from investing activities: | |||||||||||||||||||||
Additions to property, plant and equipment | -15.7 | — | -0.9 | — | -16.6 | ||||||||||||||||
Proceeds from sale of property, plant and equipment | 0.2 | 6.3 | — | — | 6.5 | ||||||||||||||||
Changes in restricted cash | -5.6 | — | — | — | -5.6 | ||||||||||||||||
Return of capital from subsidiary | 6.0 | 6.0 | — | -12 | — | ||||||||||||||||
Net cash (used in) provided by investing activities | -15.1 | 12.3 | -0.9 | -12 | -15.7 | ||||||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||
Repayment of principal on convertible debt | -72.5 | — | — | — | -72.5 | ||||||||||||||||
Payments of dividends | — | — | -1.7 | 1.7 | — | ||||||||||||||||
Changes in cash overdrafts | -11 | — | — | — | -11 | ||||||||||||||||
Payment of capital distribution | — | -6 | -6 | 12.0 | — | ||||||||||||||||
Change in intercompany receivable/payable | 74.3 | -83 | 8.7 | — | — | ||||||||||||||||
Net cash (used in) provided by financing activities | -9.2 | -89 | 1.0 | 13.7 | -83.5 | ||||||||||||||||
Net increase in cash and cash equivalents | 0.3 | 35.7 | 0.7 | — | 36.7 | ||||||||||||||||
Cash and cash equivalents, beginning of period | 78.9 | 306.4 | 17.9 | — | 403.2 | ||||||||||||||||
Cash and cash equivalents, end of period | $ | 79.2 | $ | 342.1 | $ | 18.6 | $ | — | $ | 439.9 | |||||||||||
Basis_Of_Presentation_Details
Basis Of Presentation (Details) | 6 Months Ended |
Aug. 02, 2014 | |
Basis Of Presentation [Abstract] | ' |
Transition period financial information, explanatory disclosure | 'In November 2013, our Board of Directors approved a change in our fiscal year end from DecemberB 31 to the Saturday nearest JanuaryB 31 of each year. The change, which aligns our reporting cycle with the National Retail Federation 4-5-4 fiscal calendar and is expected to provide for more consistent quarter-to-quarter comparisons, is effective for our 2015 fiscal year. |
Transition period financial information, transition period | 'Our 2015 fiscal year began on FebruaryB 2, 2014, and will end JanuaryB 31, 2015, resulting in a transition period, that began JanuaryB 1, 2014, and ended February 1, 2014, our 2014 fiscal year. |
Discontinued_Operations_Detail
Discontinued Operations (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Aug. 02, 2014 | Jul. 31, 2013 | Aug. 02, 2014 | Jul. 31, 2013 |
Discontinued Operations [Abstract] | ' | ' | ' | ' |
Net sales and operating revenues from discontinued operations | $0 | $0.60 | $0 | $46.60 |
Income (loss) before income taxes from discontinued operations | $0 | ($0.60) | $0 | ($5.20) |
Impairment_And_Restructuring_D
Impairment And Restructuring (Details) (USD $) | 6 Months Ended | 3 Months Ended | |||
Aug. 02, 2014 | Aug. 02, 2014 | Aug. 02, 2014 | Aug. 02, 2014 | Aug. 02, 2014 | |
Minimum [Member] | Maximum [Member] | Facility Closing [Member] | Radio Shack de Mexico [Member] | ||
Restructuring and Related Cost [Abstract] | ' | ' | ' | ' | ' |
NYSE minimum average closing share price | $1 | ' | ' | ' | ' |
NYSE minimum average closing share price deficiency, number of consecutive business days | '30 days | ' | ' | ' | ' |
Goodwill, fair value | ' | ' | ' | ' | $0 |
Goodwill, carrying value | ' | ' | ' | ' | 12,300,000 |
Impairment charge | ' | ' | ' | ' | 12,300,000 |
Estimated store closure costs | ' | ' | ' | 5,700,000 | ' |
Estimated employee severance costs | 8,600,000 | ' | ' | ' | ' |
Inventory reserves | 2,700,000 | ' | ' | ' | ' |
Estimated future lease termination costs | ' | $15,000,000 | $25,000,000 | ' | ' |
Indebtedness_And_Borrowing_Fac2
Indebtedness And Borrowing Facilities (Details) (USD $) | 6 Months Ended | ||
Aug. 02, 2014 | Feb. 01, 2014 | Dec. 31, 2013 | |
Debt Instrument [Line Items] | ' | ' | ' |
Debt instrument face amount | $669,200,000 | $626,200,000 | $626,400,000 |
Unamortized debt discounts | -11,200,000 | -12,100,000 | -12,300,000 |
Long-term Debt, Total | 658,000,000 | 614,100,000 | 614,100,000 |
Less current portion of: Other | 1,100,000 | 1,100,000 | 1,100,000 |
Total long-term debt | 656,900,000 | 613,000,000 | 613,000,000 |
Term Loan Due December 2018 [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Debt instrument face amount | 250,000,000 | 250,000,000 | 250,000,000 |
Maturity date | 1-Dec-18 | ' | ' |
Credit Facility Term Loan Due December 2018 [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Debt instrument face amount | 50,000,000 | 50,000,000 | 50,000,000 |
Maturity date | 1-Dec-18 | ' | ' |
6.75% Unsecured Notes Due In May 2019 [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Debt instrument face amount | 325,000,000 | 325,000,000 | 325,000,000 |
Maturity date | 1-May-19 | ' | ' |
2018 Credit Facility [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Debt instrument face amount | 43,000,000 | ' | ' |
Long-term Debt, Total | 43,000,000 | ' | ' |
Availability under credit facility | 152,000,000 | ' | ' |
Other [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Debt instrument face amount | 1,200,000 | 1,200,000 | 1,400,000 |
Less current portion of: Other | $1,100,000 | $1,100,000 | $1,100,000 |
Net_Loss_Per_Share_Schedule_Of
Net Loss Per Share (Schedule Of Basic And Diluted Net (Loss) Income Per Share Calculations) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Aug. 02, 2014 | Jul. 31, 2013 | Aug. 02, 2014 | Jul. 31, 2013 |
Numerator: | ' | ' | ' | ' |
Loss from continuing operations | ($137.40) | ($51.40) | ($235.70) | ($74.70) |
Discontinued operations, net of taxes | ' | -0.8 | ' | -5.5 |
Net loss | ($137.40) | ($52.20) | ($235.70) | ($80.20) |
Denominator: | ' | ' | ' | ' |
Weighted-average common shares outstanding | 101.9 | 100.7 | 101.9 | 100.7 |
Weighted-average shares for diluted net loss per share | 101.9 | 100.7 | 101.9 | 100.7 |
Net_Loss_Per_Share_Common_Stoc
Net Loss Per Share (Common Stock Equivalents That Were Not Included In The Calculation Of Diluted Net (Loss) Income Per Share) (Details) | 3 Months Ended | 6 Months Ended | ||||||
Aug. 02, 2014 | Jul. 31, 2013 | Aug. 02, 2014 | Jul. 31, 2013 | |||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' | ||||
Exercise price of warrants (per share) | 35.88 | 35.88 | 35.88 | 35.88 | ||||
Employee Stock Options [Member] | ' | ' | ' | ' | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' | ||||
Common stock equivalents excluded | 7,900,000 | [1],[2] | 8,500,000 | [1],[2] | 7,900,000 | [1],[2] | 8,500,000 | [1],[2] |
Warrants To Purchase Common Stock [Member] | ' | ' | ' | ' | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' | ||||
Common stock equivalents excluded | ' | 15,800,000 | ' | 15,800,000 | ||||
Exceed Average Market Price [Member] | Employee Stock Options [Member] | ' | ' | ' | ' | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' | ||||
Common stock equivalents excluded | 7,900,000 | 5,300,000 | 7,900,000 | 5,300,000 | ||||
Reduce Net Loss Per Share [Member] | Employee Stock Options [Member] | ' | ' | ' | ' | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' | ||||
Common stock equivalents excluded | 0 | 3,200,000 | 0 | 3,200,000 | ||||
[1] | Certain employee stock options were excluded from weighted-average shares for diluted net loss per share because the exercise prices exceeded the average market price of our common stock during the period and the effect of their inclusion would be antidilutive. For both the 13 weeks and 26 weeks ended August 2, 2014, 7.9 million employee stock options were excluded for this reason, compared with 5.3 million for both the three and six months ended July 31, 2013. | |||||||
[2] | Certain employee stock options were excluded from weighted-average shares for diluted net loss per share because the effect of their inclusion would reduce our net loss per share and would be antidilutive. For the 13 weeks and 26 weeks ended August 2, 2014, no employee stock options were excluded from these periods for this reason. For the three and six months ended July 31, 2013, 3.2 million employee stock options were excluded from these periods for this reason. |
Fair_Value_Measurements_Narrat
Fair Value Measurements (Narrative) (Details) (USD $) | 3 Months Ended | 6 Months Ended | 6 Months Ended | 1 Months Ended | 6 Months Ended | |||||||||
In Millions, unless otherwise specified | Aug. 02, 2014 | Jul. 31, 2013 | Aug. 02, 2014 | Jul. 31, 2013 | Feb. 01, 2014 | Dec. 31, 2013 | Aug. 02, 2014 | Feb. 01, 2014 | Dec. 31, 2013 | Feb. 01, 2014 | Aug. 02, 2014 | Aug. 02, 2014 | Aug. 02, 2014 | Aug. 02, 2014 |
2019 Notes [Member] | 2019 Notes [Member] | 2019 Notes [Member] | U.S. RadioShack Company-Operated Stores [Member] | U.S. RadioShack Company-Operated Stores [Member] | U.S. RadioShack Company-Operated Stores [Member] | U.S. RadioShack Company-Operated Stores [Member] | Facility Closing [Member] | |||||||
Minimum [Member] | Maximum [Member] | |||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Carrying value of long-lived assets before impairment | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1.10 | $9.30 | ' | ' | ' |
Fair value of long-lived assets after impairment | 1 | ' | 1 | ' | 0.6 | 9.6 | ' | ' | ' | 0.6 | 1 | ' | ' | ' |
Impairment of long-lived assets | 20.6 | 2.8 | 21.4 | 4.2 | ' | ' | ' | ' | ' | 0.5 | 8.3 | ' | ' | ' |
Restructuring charges | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $5.70 |
Risk-adjusted rate of return | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15.00% | 20.00% | ' |
Interest rate of debt instrument | ' | ' | ' | ' | ' | ' | 6.75% | 6.75% | 6.75% | ' | ' | ' | ' | ' |
Due date | ' | ' | ' | ' | ' | ' | 1-May-19 | ' | ' | ' | ' | ' | ' | ' |
Fair_Value_Measurements_Assets
Fair Value Measurements (Assets And Liabilities Measured At Fair Value On A Nonrecurring Basis) (Details) (USD $) | Aug. 02, 2014 | Feb. 01, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Long-lived assets held and used | $1 | $0.60 | $9.60 |
Quoted Prices In Active Markets For Identical Items (Level 1) [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Long-lived assets held and used | ' | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Long-lived assets held and used | ' | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Long-lived assets held and used | $1 | $0.60 | $9.60 |
Fair_Value_Measurements_Carryi
Fair Value Measurements (Carrying Amounts And Related Estimated Fair Value Of Debt Instruments) (Details) (USD $) | Aug. 02, 2014 | Feb. 01, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Long-term debt, Carrying Amount | $658 | $614.10 | $614.10 |
2019 Notes [Member] | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Long-term debt, Carrying Amount | 323.5 | 323.4 | 323.3 |
Long-term debt, Fair Value | 133.3 | 195 | 197.9 |
2019 Notes [Member] | Quoted Prices In Active Markets For Identical Items (Level 1) [Member] | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Long-term debt, Fair Value | ' | ' | ' |
2019 Notes [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Long-term debt, Fair Value | 133.3 | 195 | 197.9 |
2019 Notes [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Long-term debt, Fair Value | ' | ' | ' |
Secured Term Loans [Member] | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Long-term debt, Carrying Amount | 290.4 | 289.5 | 289.4 |
Long-term debt, Fair Value | 278.8 | 289.5 | 289.4 |
Secured Term Loans [Member] | Quoted Prices In Active Markets For Identical Items (Level 1) [Member] | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Long-term debt, Fair Value | ' | ' | ' |
Secured Term Loans [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Long-term debt, Fair Value | ' | ' | ' |
Secured Term Loans [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Long-term debt, Fair Value | 278.8 | 289.5 | 289.4 |
2018 Credit Facility [Member] | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Long-term debt, Carrying Amount | 43 | ' | ' |
Long-term debt, Fair Value | 41 | ' | ' |
2018 Credit Facility [Member] | Quoted Prices In Active Markets For Identical Items (Level 1) [Member] | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Long-term debt, Fair Value | ' | ' | ' |
2018 Credit Facility [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Long-term debt, Fair Value | ' | ' | ' |
2018 Credit Facility [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Long-term debt, Fair Value | 41 | ' | ' |
Other [Member] | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Long-term debt, Carrying Amount | 1.1 | 1.1 | 1.4 |
Long-term debt, Fair Value | 1.1 | 1.1 | 1.4 |
Other [Member] | Quoted Prices In Active Markets For Identical Items (Level 1) [Member] | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Long-term debt, Fair Value | ' | ' | ' |
Other [Member] | Significant Other Observable Inputs (Level 2) [Member] | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Long-term debt, Fair Value | ' | ' | ' |
Other [Member] | Significant Unobservable Inputs (Level 3) [Member] | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Long-term debt, Fair Value | $1.10 | $1.10 | $1.40 |
Income_Taxes_Details
Income Taxes (Details) (USD $) | Aug. 02, 2014 | Feb. 01, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | |||
Income Tax Contingency [Line Items] | ' | ' | ' |
Unrecognized tax benefits | $116.50 | $116.60 | $119.10 |
Single Uncertain Tax Position [Member] | ' | ' | ' |
Income Tax Contingency [Line Items] | ' | ' | ' |
Unrecognized tax benefits | $92.10 | ' | ' |
Commitments_And_Contingencies_
Commitments And Contingencies (Details) (USD $) | 3 Months Ended | 6 Months Ended |
In Millions, except Per Share data, unless otherwise specified | Nov. 01, 2014 | Aug. 02, 2014 |
Commitments And Contingencies [Abstract] | ' | ' |
Loss contingency, estimated reasonably possible loss amount | ' | $9.80 |
Receipt date of notification from the New York Stock Exchange | 24-Jul-14 | ' |
NYSE minimum average closing share price | ' | $1 |
NYSE minimum average closing share price deficiency, number of consecutive business days | ' | '30 days |
Deficiency cure period | ' | '6 months |
Cure price level, requisite trading period | ' | '30 days |
Segment_Reporting_Narrative_De
Segment Reporting (Narrative) (Details) (U.S. RadioShack Company-Operated Stores [Member]) | Aug. 02, 2014 |
store | |
U.S. RadioShack Company-Operated Stores [Member] | ' |
Segment Reporting Information [Line Items] | ' |
Number of retail stores | 4,228 |
Segment_Reporting_Schedule_Of_
Segment Reporting (Schedule Of Segment Reporting Information) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Aug. 02, 2014 | Jul. 31, 2013 | Aug. 02, 2014 | Jul. 31, 2013 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Revenue by reportable segment | $673.80 | $861.40 | $1,410.50 | $1,709.80 |
Operating loss | -119.4 | -51.1 | -200.4 | -61.4 |
Interest income | 0.3 | 0.3 | 1 | 0.7 |
Interest expense | -16.9 | -14 | -33.5 | -28.7 |
Other (loss) | ' | ' | ' | -0.3 |
Loss from continuing operations before income taxes | -136 | -64.8 | -232.9 | -89.7 |
Severance costs related to departure of CEO and headcount reductions | ' | ' | 8.6 | ' |
U.S. RadioShack Company-Operated Stores [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Revenue by reportable segment | 607.1 | 784.7 | 1,281.20 | 1,560.90 |
Operating loss | -8.8 | 26.5 | 10.8 | 94.1 |
Other [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Revenue by reportable segment | 66.7 | 76.7 | 129.3 | 148.9 |
Operating loss | -11.9 | 2.9 | -12.3 | 9.3 |
Operating Segments Subtotal [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Operating loss | -20.7 | 29.4 | -1.5 | 103.4 |
Unallocated [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Operating loss | ($98.70) | ($80.50) | ($198.90) | ($164.80) |
Supplemental_Guarantor_Financi2
Supplemental Guarantor Financial Information (Narrative) (Details) (USD $) | 6 Months Ended | 12 Months Ended | ||
In Millions, unless otherwise specified | Aug. 02, 2014 | Jul. 31, 2013 | Jul. 31, 2013 | Dec. 31, 2013 |
Guarantor Subsidiaries [Member] | Guarantor Subsidiaries [Member] | |||
Adjustment [Member] | ||||
Subsidiary ownership percentage by parent | 100.00% | ' | ' | ' |
Proceeds from sale of property, plant and equipment | ' | $6.50 | $6.30 | $6.30 |
Supplemental_Guarantor_Financi3
Supplemental Guarantor Financial Information (Condensed Consolidating Statements Of Comprehensive Income) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Aug. 02, 2014 | Jul. 31, 2013 | Aug. 02, 2014 | Jul. 31, 2013 |
Condensed Income Statements, Captions [Line Items] | ' | ' | ' | ' |
Net sales and operating revenues | $673.80 | $861.40 | $1,410.50 | $1,709.80 |
Cost of products sold | 436.2 | 559.9 | 904.2 | 1,067.40 |
Gross profit | 237.6 | 301.5 | 506.3 | 642.4 |
Selling, general and administrative | 323.6 | 334.4 | 659.5 | 668.1 |
Depreciation and amortization | 12.8 | 15.4 | 25.8 | 31.5 |
Impairment of long-lived assets and goodwill | 20.6 | 2.8 | 21.4 | 4.2 |
Total operating expenses | 357 | 352.6 | 706.7 | 703.8 |
Operating loss | -119.4 | -51.1 | -200.4 | -61.4 |
Interest income | 0.3 | 0.3 | 1 | 0.7 |
Interest expense | -16.9 | -14 | -33.5 | -28.7 |
Other (loss) | ' | ' | ' | -0.3 |
Loss from continuing operations before income taxes | -136 | -64.8 | -232.9 | -89.7 |
Income tax (benefit) expense | 1.4 | -13.4 | 2.8 | -15 |
Loss from continuing operations | -137.4 | -51.4 | -235.7 | -74.7 |
Discontinued operations, net of income taxes | ' | -0.8 | ' | -5.5 |
Net loss | -137.4 | -52.2 | -235.7 | -80.2 |
Comprehensive (loss) income | -137.5 | -56.2 | -235.2 | -79.9 |
RadioShack Corporation [Member] | ' | ' | ' | ' |
Condensed Income Statements, Captions [Line Items] | ' | ' | ' | ' |
Net sales and operating revenues | 643 | 827.9 | 1,354.60 | 1,690.60 |
Cost of products sold | 429.3 | 546.1 | 891.4 | 1,092.30 |
Gross profit | 213.7 | 281.8 | 463.2 | 598.3 |
Selling, general and administrative | 297.8 | 320.6 | 621.5 | 642.9 |
Depreciation and amortization | 11.9 | 14.5 | 24.2 | 29.8 |
Impairment of long-lived assets and goodwill | 8.3 | 2.8 | 9.1 | 4.2 |
Total operating expenses | 318 | 337.9 | 654.8 | 676.9 |
Operating loss | -104.3 | -56.1 | -191.6 | -78.6 |
Interest income | 0.2 | 0.2 | 0.9 | 0.4 |
Interest expense | -19.3 | -17.9 | -39.9 | -36.3 |
Other (loss) | ' | ' | ' | -0.3 |
Loss from continuing operations before income taxes | -123.4 | -73.8 | -230.6 | -114.8 |
Income tax (benefit) expense | -1.7 | -13.1 | -5.4 | -16.2 |
Equity in earnings of subsidiaries, net of income taxes | -15.7 | 8.5 | -10.5 | 18.4 |
Loss from continuing operations | -137.4 | -52.2 | -235.7 | -80.2 |
Net loss | -137.4 | -52.2 | -235.7 | -80.2 |
Comprehensive (loss) income | -137.5 | -56.2 | -235.2 | -79.9 |
Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Condensed Income Statements, Captions [Line Items] | ' | ' | ' | ' |
Net sales and operating revenues | 433 | 517.2 | 968.2 | 1,276.50 |
Cost of products sold | 419.8 | 508.4 | 944.9 | 1,253.50 |
Gross profit | 13.2 | 8.8 | 23.3 | 23 |
Selling, general and administrative | 1.7 | 0.7 | 3 | 0.3 |
Total operating expenses | 1.7 | 0.7 | 3 | 0.3 |
Operating loss | 11.5 | 8.1 | 20.3 | 22.7 |
Interest income | 3 | 2.8 | 5.8 | 5.4 |
Loss from continuing operations before income taxes | 14.5 | 10.9 | 26.1 | 28.1 |
Income tax (benefit) expense | 5.9 | -0.6 | 10.7 | 1.4 |
Equity in earnings of subsidiaries, net of income taxes | -16.2 | -2.5 | -18.4 | -3.6 |
Loss from continuing operations | -7.6 | 9 | -3 | 23.1 |
Discontinued operations, net of income taxes | ' | -0.8 | ' | -5.5 |
Net loss | -7.6 | 8.2 | -3 | 17.6 |
Comprehensive (loss) income | -7.6 | 4.3 | -2.3 | 17.8 |
Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Condensed Income Statements, Captions [Line Items] | ' | ' | ' | ' |
Net sales and operating revenues | 31.4 | 31.9 | 56.9 | 61.6 |
Cost of products sold | 20.7 | 21 | 37.1 | 40.5 |
Gross profit | 10.7 | 10.9 | 19.8 | 21.1 |
Selling, general and administrative | 24.1 | 13.1 | 35 | 24.9 |
Depreciation and amortization | 0.9 | 0.9 | 1.6 | 1.7 |
Impairment of long-lived assets and goodwill | 12.3 | ' | 12.3 | ' |
Total operating expenses | 37.3 | 14 | 48.9 | 26.6 |
Operating loss | -26.6 | -3.1 | -29.1 | -5.5 |
Interest income | -0.4 | 1.4 | 0.9 | 2.9 |
Interest expense | -0.1 | -0.2 | -0.2 | -0.4 |
Loss from continuing operations before income taxes | -27.1 | -1.9 | -28.4 | -3 |
Income tax (benefit) expense | -2.8 | 0.3 | -2.5 | -0.2 |
Loss from continuing operations | -24.3 | -2.2 | -25.9 | -2.8 |
Net loss | -24.3 | -2.2 | -25.9 | -2.8 |
Comprehensive (loss) income | -24.4 | -6.2 | -25.4 | -2.6 |
Eliminations [Member] | ' | ' | ' | ' |
Condensed Income Statements, Captions [Line Items] | ' | ' | ' | ' |
Net sales and operating revenues | -433.6 | -515.6 | -969.2 | -1,318.90 |
Cost of products sold | -433.6 | -515.6 | -969.2 | -1,318.90 |
Interest income | -2.5 | -4.1 | -6.6 | -8 |
Interest expense | 2.5 | 4.1 | 6.6 | 8 |
Equity in earnings of subsidiaries, net of income taxes | 31.9 | -6 | 28.9 | -14.8 |
Loss from continuing operations | 31.9 | -6 | 28.9 | -14.8 |
Net loss | 31.9 | -6 | 28.9 | -14.8 |
Comprehensive (loss) income | $32 | $1.90 | $27.70 | ($15.20) |
Supplemental_Guarantor_Financi4
Supplemental Guarantor Financial Information (Condensed Consolidating Balance Sheets) (Details) (USD $) | Aug. 02, 2014 | Feb. 01, 2014 | Dec. 31, 2013 | Jul. 31, 2013 | Jan. 31, 2013 |
In Millions, unless otherwise specified | |||||
Condensed Balance Sheet Statements, Captions [Line Items] | ' | ' | ' | ' | ' |
Cash and cash equivalents | $30.50 | $109.60 | $179.80 | $439.90 | $403.20 |
Accounts and notes receivable, net | 159.7 | 154.1 | 211.9 | ' | ' |
Inventories | 673.4 | 807.8 | 802.3 | ' | ' |
Other current assets | 66.3 | 80.1 | 139 | ' | ' |
Total current assets | 929.9 | 1,151.60 | 1,333 | ' | ' |
Property, plant and equipment, net | 172.2 | 186.3 | 187.2 | ' | ' |
Other assets, net | 47.1 | 72.7 | 71 | ' | ' |
Total assets | 1,149.20 | 1,410.60 | 1,591.20 | ' | ' |
Current maturities of long-term debt | 1.1 | 1.1 | 1.1 | ' | ' |
Accounts payable | 153.3 | 234.7 | 376.4 | ' | ' |
Accrued expenses and other current liabilities | 216.3 | 206.4 | 207.1 | ' | ' |
Total current liabilities | 370.7 | 442.2 | 584.6 | ' | ' |
Long-term debt, excluding current maturities | 656.9 | 613 | 613 | ' | ' |
Other non-current liabilities | 184.6 | 186.7 | 187.2 | ' | ' |
Total liabilities | 1,212.20 | 1,241.90 | 1,384.80 | ' | ' |
Stockholders' (deficit) equity | -63 | 168.7 | 206.4 | ' | ' |
Total liabilities and stockholders' (deficit) equity | 1,149.20 | 1,410.60 | 1,591.20 | ' | ' |
RadioShack Corporation [Member] | ' | ' | ' | ' | ' |
Condensed Balance Sheet Statements, Captions [Line Items] | ' | ' | ' | ' | ' |
Cash and cash equivalents | 24.7 | 32.7 | 37.9 | 79.2 | 78.9 |
Accounts and notes receivable, net | 155.1 | 150.3 | 206.7 | ' | ' |
Inventories | 627.9 | 772.4 | 762.4 | ' | ' |
Other current assets | 57.5 | 74.9 | 132.8 | ' | ' |
Total current assets | 865.2 | 1,030.30 | 1,139.80 | ' | ' |
Property, plant and equipment, net | 161.7 | 174.6 | 175 | ' | ' |
Other assets, net | 41.3 | 47.1 | 43.2 | ' | ' |
Investment in subsidiaries | 2,050 | 2,061.80 | 2,060.60 | ' | ' |
Total assets | 3,118.20 | 3,313.80 | 3,418.60 | ' | ' |
Current maturities of long-term debt | 1.1 | 1.1 | 1.1 | ' | ' |
Accounts payable | 101.5 | 192.3 | 304.9 | ' | ' |
Accrued expenses and other current liabilities | 183.5 | 172.4 | 173 | ' | ' |
Intercompany payables | 301.7 | 287.1 | 300.7 | ' | ' |
Intercompany notes payable | 1,795.20 | 1,735.50 | 1,675 | ' | ' |
Total current liabilities | 2,383 | 2,388.40 | 2,454.70 | ' | ' |
Long-term debt, excluding current maturities | 656.9 | 613 | 613 | ' | ' |
Other non-current liabilities | 141.3 | 143.7 | 144.5 | ' | ' |
Total liabilities | 3,181.20 | 3,145.10 | 3,212.20 | ' | ' |
Stockholders' (deficit) equity | -63 | 168.7 | 206.4 | ' | ' |
Total liabilities and stockholders' (deficit) equity | 3,118.20 | 3,313.80 | 3,418.60 | ' | ' |
Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' |
Condensed Balance Sheet Statements, Captions [Line Items] | ' | ' | ' | ' | ' |
Cash and cash equivalents | 0.5 | 61.1 | 121.2 | 342.1 | 306.4 |
Accounts and notes receivable, net | ' | ' | 1.6 | ' | ' |
Inventories | 15.9 | 13.5 | 14.7 | ' | ' |
Other current assets | 2.1 | 0.8 | 0.9 | ' | ' |
Intercompany receivables | 315.7 | 295.7 | 312.3 | ' | ' |
Intercompany notes receivable | 1,795.20 | 1,735.50 | 1,675 | ' | ' |
Total current assets | 2,129.40 | 2,106.60 | 2,125.70 | ' | ' |
Property, plant and equipment, net | 0.6 | 0.8 | 0.8 | ' | ' |
Other assets, net | 2.5 | 2.2 | 2.5 | ' | ' |
Investment in subsidiaries | 16.9 | 36.9 | 37.9 | ' | ' |
Total assets | 2,149.40 | 2,146.50 | 2,166.90 | ' | ' |
Accounts payable | 34.9 | 29 | 50.2 | ' | ' |
Accrued expenses and other current liabilities | 25.2 | 26.2 | 26.5 | ' | ' |
Total current liabilities | 60.1 | 55.2 | 76.7 | ' | ' |
Other non-current liabilities | 41.1 | 40.7 | 40.5 | ' | ' |
Total liabilities | 101.2 | 95.9 | 117.2 | ' | ' |
Stockholders' (deficit) equity | 2,048.20 | 2,050.60 | 2,049.70 | ' | ' |
Total liabilities and stockholders' (deficit) equity | 2,149.40 | 2,146.50 | 2,166.90 | ' | ' |
Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' |
Condensed Balance Sheet Statements, Captions [Line Items] | ' | ' | ' | ' | ' |
Cash and cash equivalents | 5.3 | 15.8 | 20.7 | 18.6 | 17.9 |
Accounts and notes receivable, net | 4.6 | 3.8 | 3.6 | ' | ' |
Inventories | 29.6 | 21.9 | 25.2 | ' | ' |
Other current assets | 6.7 | 4.4 | 5.3 | ' | ' |
Intercompany receivables | ' | ' | 6.2 | ' | ' |
Total current assets | 46.2 | 45.9 | 61 | ' | ' |
Property, plant and equipment, net | 9.9 | 10.9 | 11.4 | ' | ' |
Other assets, net | 3.3 | 23.4 | 25.3 | ' | ' |
Total assets | 59.4 | 80.2 | 97.7 | ' | ' |
Accounts payable | 16.9 | 13.4 | 21.3 | ' | ' |
Accrued expenses and other current liabilities | 7.6 | 7.8 | 7.6 | ' | ' |
Intercompany payables | 14 | 8.6 | 17.8 | ' | ' |
Total current liabilities | 38.5 | 29.8 | 46.7 | ' | ' |
Other non-current liabilities | 2.2 | 2.3 | 2.2 | ' | ' |
Total liabilities | 40.7 | 32.1 | 48.9 | ' | ' |
Stockholders' (deficit) equity | 18.7 | 48.1 | 48.8 | ' | ' |
Total liabilities and stockholders' (deficit) equity | 59.4 | 80.2 | 97.7 | ' | ' |
Eliminations [Member] | ' | ' | ' | ' | ' |
Condensed Balance Sheet Statements, Captions [Line Items] | ' | ' | ' | ' | ' |
Intercompany receivables | -315.7 | -295.7 | -318.5 | ' | ' |
Intercompany notes receivable | -1,795.20 | -1,735.50 | -1,675 | ' | ' |
Total current assets | -2,110.90 | -2,031.20 | -1,993.50 | ' | ' |
Investment in subsidiaries | -2,066.90 | -2,098.70 | -2,098.50 | ' | ' |
Total assets | -4,177.80 | -4,129.90 | -4,092 | ' | ' |
Intercompany payables | -315.7 | -295.7 | -318.5 | ' | ' |
Intercompany notes payable | -1,795.20 | -1,735.50 | -1,675 | ' | ' |
Total current liabilities | -2,110.90 | -2,031.20 | -1,993.50 | ' | ' |
Total liabilities | -2,110.90 | -2,031.20 | -1,993.50 | ' | ' |
Stockholders' (deficit) equity | -2,066.90 | -2,098.70 | -2,098.50 | ' | ' |
Total liabilities and stockholders' (deficit) equity | ($4,177.80) | ($4,129.90) | ($4,092) | ' | ' |
Supplemental_Guarantor_Financi5
Supplemental Guarantor Financial Information (Condensed Consolidating Statements Of Cash Flows) (Details) (USD $) | 6 Months Ended | |
In Millions, unless otherwise specified | Aug. 02, 2014 | Jul. 31, 2013 |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' |
Net cash (used in) provided by operating activities | ($125) | $135.90 |
Additions to property, plant and equipment | -28.3 | -16.6 |
Proceeds from sale of property, plant and equipment | ' | 6.5 |
Changes in restricted cash | 2.9 | -5.6 |
Net cash used in investing activities | -25.4 | -15.7 |
Repayment of principal on convertible debt | ' | -72.5 |
Proceeds from issuance of long-term debt | 136.5 | ' |
Repayments of long-term debt | -93.5 | ' |
Changes in cash overdrafts | 28.3 | -11 |
Net cash provided by (used in) financing activities | 71.3 | -83.5 |
Net (decrease) increase in cash and cash equivalents | -79.1 | 36.7 |
Cash and cash equivalents, beginning of period | 109.6 | 403.2 |
Cash and cash equivalents, end of period | 30.5 | 439.9 |
RadioShack Corporation [Member] | ' | ' |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' |
Net cash (used in) provided by operating activities | -128.8 | 24.6 |
Additions to property, plant and equipment | -27.9 | -15.7 |
Proceeds from sale of property, plant and equipment | ' | 0.2 |
Changes in restricted cash | 2.9 | -5.6 |
Return of capital from subsidiary | 0.2 | 6 |
Net cash used in investing activities | -24.8 | -15.1 |
Repayment of principal on convertible debt | ' | -72.5 |
Proceeds from issuance of long-term debt | 136.5 | ' |
Repayments of long-term debt | -93.5 | ' |
Changes in cash overdrafts | 28.3 | -11 |
Change in intercompany receivable/payable | 74.3 | 74.3 |
Net cash provided by (used in) financing activities | 145.6 | -9.2 |
Net (decrease) increase in cash and cash equivalents | -8 | 0.3 |
Cash and cash equivalents, beginning of period | 32.7 | 78.9 |
Cash and cash equivalents, end of period | 24.7 | 79.2 |
Guarantor Subsidiaries [Member] | ' | ' |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' |
Net cash (used in) provided by operating activities | 19.1 | 112.4 |
Proceeds from sale of property, plant and equipment | ' | 6.3 |
Return of capital from subsidiary | 0.2 | 6 |
Net cash used in investing activities | 0.2 | 12.3 |
Payment of capital distribution | -0.2 | -6 |
Change in intercompany receivable/payable | -79.7 | -83 |
Net cash provided by (used in) financing activities | -79.9 | -89 |
Net (decrease) increase in cash and cash equivalents | -60.6 | 35.7 |
Cash and cash equivalents, beginning of period | 61.1 | 306.4 |
Cash and cash equivalents, end of period | 0.5 | 342.1 |
Non-Guarantor Subsidiaries [Member] | ' | ' |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' |
Net cash (used in) provided by operating activities | -15.3 | 0.6 |
Additions to property, plant and equipment | -0.4 | -0.9 |
Net cash used in investing activities | -0.4 | -0.9 |
Payments of dividends | ' | -1.7 |
Payment of capital distribution | -0.2 | -6 |
Change in intercompany receivable/payable | 5.4 | 8.7 |
Net cash provided by (used in) financing activities | 5.2 | 1 |
Net (decrease) increase in cash and cash equivalents | -10.5 | 0.7 |
Cash and cash equivalents, beginning of period | 15.8 | 17.9 |
Cash and cash equivalents, end of period | 5.3 | 18.6 |
Eliminations [Member] | ' | ' |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' |
Net cash (used in) provided by operating activities | ' | -1.7 |
Return of capital from subsidiary | -0.4 | -12 |
Net cash used in investing activities | -0.4 | -12 |
Payments of dividends | ' | 1.7 |
Payment of capital distribution | 0.4 | 12 |
Net cash provided by (used in) financing activities | $0.40 | $13.70 |