XML 37 R20.htm IDEA: XBRL DOCUMENT
v3.8.0.1

QUARTERLY FINANCIAL INFORMATION (Unaudited) | 12 Months Ended
--- | ---
Jan. 30, 2016
Quarterly Financial Information Disclosure [Abstract] |
QUARTERLY FINANCIAL INFORMATION (Unaudited) | QUARTERLY FINANCIAL INFORMATION (Unaudited) The following table sets forth certain items from the Company's unaudited consolidated income statements for each quarter of fiscal year 2017 and 2016. The unaudited information has been prepared on the same basis as the audited consolidated financial statements appearing elsewhere in this report and includes all adjustments, consisting only of normal recurring adjustments, which management considers necessary for a fair presentation of the financial data shown. The operating results for any quarter are not necessarily indicative of results for a full year or for any future period.
(dollars in millions, except diluted net income per share data) |  | First Quarter (1) |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
Fiscal 2017: |  |  |  |  |  |  |  |
Net sales |  | $ | 5,287.1 |  |  | $ | 5,281.2 |  |  | $ | 5,316.6 |  |  | $ | 6,360.6 |
Gross profit |  | $ | 1,627.1 |  |  | $ | 1,627.8 |  |  | $ | 1,666.0 |  |  | $ | 2,101.0 |
Operating income (2) |  | $ | 388.8 |  |  | $ | 419.5 |  |  | $ | 425.2 |  |  | $ | 765.6 |
Net income (3) |  | $ | 200.5 |  |  | $ | 233.8 |  |  | $ | 239.9 |  |  | $ | 1,040.1 |
Diluted net income per share (3) |  | $ | 0.85 |  |  | $ | 0.98 |  |  | $ | 1.01 |  |  | $ | 4.37 |
Stores open at end of quarter |  | 14,482 |  |  | 14,581 |  |  | 14,744 |  |  | 14,835 |
Comparable store net sales change (4) |  | 0.5 | % |  | 2.4 | % |  | 3.3 | % |  | 2.5 | %
Fiscal 2016: |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 5,085.8 |  |  | $ | 4,996.3 |  |  | $ | 5,001.6 |  |  | $ | 5,635.3 |
Gross profit |  | $ | 1,554.6 |  |  | $ | 1,512.4 |  |  | $ | 1,520.5 |  |  | $ | 1,807.0 |
Operating income |  | $ | 418.7 |  |  | $ | 357.2 |  |  | $ | 342.4 |  |  | $ | 586.5 |
Net income |  | $ | 232.7 |  |  | $ | 170.2 |  |  | $ | 171.6 |  |  | $ | 321.8 |
Diluted net income per share |  | $ | 0.98 |  |  | $ | 0.72 |  |  | $ | 0.72 |  |  | $ | 1.36 |
Stores open at end of quarter |  | 13,997 |  |  | 14,129 |  |  | 14,284 |  |  | 14,334 |
Comparable store net sales change (4) |  | 2.2 | % |  | 1.1 | % |  | 1.8 | % |  | 1.3 | %
(1) Easter was observed on April 16, 2017 and March 27, 2016. (2) In the first and second quarters of 2017, the Company incurred $50.9 million and $2.6 million, respectively, in impairment charges related to its divestiture-related receivable from Dollar Express. In the fourth quarter of 2017, the Company settled a lawsuit with Dollar Express related to the divestiture, under which Dollar Express paid the Company $35.0 million of the impaired receivable. (3) In the first, second and fourth quarters of 2017, net income and diluted net income per share were affected, net of tax, by the impairment charges and settlement, respectively, noted in (2) above, in the amounts of $31.6 million and $0.13 per share, $1.6 million and $0.01 per share, and $21.4 million and $0.09 per share, respectively. In the fourth quarter of 2017, the Company reevaluated its workers' compensation insurance reserves. As a result of the effect of rebannered Family Dollar stores, among other factors, the Company determined that the Dollar Tree workers' compensation loss reserves were not as predictable as they were previously. Therefore, the Company concluded that it was no longer appropriate to discount these reserves. The increase in the Dollar Tree workers' compensation reserve resulting from the change to record the reserves on an undiscounted basis decreased fourth quarter 2017 net income and diluted net income per share by $8.0 million and $0.03 per share, respectively. Also, on January 30, 2018, the Company provided an irrevocable notice to the holders of the $750.0 million 2020 Notes to call the 2020 Notes on March 1, 2018. In connection with the early redemption of the 2020 Notes, the Company recorded a redemption premium of $9.8 million, which was payable on the call date of March 1, 2018. The Company paid the $759.8 million on March 1, 2018. As a result of recording the redemption premium on the 2020 Notes, fourth quarter 2017 net income and diluted net income per share decreased by $6.2 million and $0.03 per share, respectively. In addition, as a result of the enactment of the TCJA on December 22, 2017, fourth quarter 2017 net income and diluted net income per share increased by $583.7 million and $2.45 per share, respectively, in the fourth quarter of 2017. (4) Both the Company's Dollar Tree stores and its acquired Family Dollar stores are included in the comparable store net sales calculation beginning in the fourth quarter of fiscal 2016; prior to that, only the Company's Dollar Tree stores were included in the comparable store net sales calculation.

X
- References No definition available. + Details
Name: | us-gaap_QuarterlyFinancialInformationDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
Name: | us-gaap_QuarterlyFinancialInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration