10-K
Annual Report
HOOKER FURNISHINGS CORPORATION
HOFT
NASDAQ
CIK: 1077688
File #: 000-25349
Balance Sheet
44 line items · 2 periods
XBRL
| Item | Jan 28, 2024 | Jan 29, 2023 |
|---|---|---|
Assets | ||
Current assets | ||
Cash and cash equivalents | 43,159,000 | 19,002,000 |
Trade accounts receivable, net (See notes 5 and 6) | 51,280,000 | 62,129,000 |
Inventories (see note 7) | 61,815,000 | 96,675,000 |
Income tax recoverable | 3,014,000 | 3,079,000 |
Prepaid expenses and other current assets | 5,530,000 | 6,418,000 |
Total current assets | 164,798,000 | 187,303,000 |
Property, plant and equipment, net (See note 8) | 29,142,000 | 27,010,000 |
Cash surrender value of life insurance policies (See note 11) | 28,528,000 | 27,576,000 |
Fair Value, Inputs, Level 1 | 0 | 0 |
Fair Value, Inputs, Level 2 | 28,528,000 | 27,576,000 |
Fair Value, Inputs, Level 3 | 0 | 0 |
Deferred taxes (See note 17) | 12,005,000 | 14,484,000 |
Operating leases right-of-use assets (See note 12) | 50,801,000 | 68,949,000 |
Real Estate | 49,968,000 | 68,212,000 |
Property, Plant and Equipment | 833,000 | 737,000 |
Intangible assets, net (See note 10) | 28,622,000 | 31,779,000 |
Goodwill (See note 10) | 15,036,000 | 14,952,000 |
Sunset HWM, LLC | — | 14,462,000 |
Other assets | 14,654,000 | 9,663,000 |
Total non-current assets | 178,788,000 | 194,413,000 |
Total assets | 343,586,000 | 381,716,000 |
Liabilities and Shareholders’ Equity | ||
Current liabilities | ||
Current portion of long-term debt (See note 13) | 1,393,000 | 1,393,000 |
Trade accounts payable | 16,470,000 | 16,090,000 |
Accrued salaries, wages and benefits | 7,400,000 | 9,290,000 |
Customer deposits | 5,920,000 | 8,511,000 |
Current portion of operating lease liabilities (See note 12) | 6,964,000 | 7,316,000 |
Other accrued expenses | 3,262,000 | 7,438,000 |
Total current liabilities | 41,409,000 | 50,038,000 |
Long term debt (See note 13) | 21,481,000 | 22,874,000 |
Deferred compensation (See note 14) | 7,418,000 | 8,178,000 |
Operating lease liabilities (See note 12) | 46,414,000 | 63,762,000 |
Other long-term liabilities (See note 4) | 889,000 | 843,000 |
Total long-term liabilities | 76,202,000 | 95,657,000 |
Total liabilities | 117,611,000 | 145,695,000 |
Shareholders’ equity | ||
Common stock, no par value, 20,000 shares authorized, 10,672 and 11,197 shares issued and outstanding on each date | 49,524,000 | 50,770,000 |
Retained earnings | 175,717,000 | 184,386,000 |
Accumulated other comprehensive income | 734,000 | 865,000 |
Total shareholders’ equity | 225,975,000 | 236,021,000 |
Total liabilities and shareholders’ equity | 343,586,000 | 381,716,000 |