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CONSOLIDATED BALANCE SHEETS - USD ($)
Feb. 02, 2020
Apr. 28, 2019
Jan. 27, 2019
Current assets:      
Cash and cash equivalents $ 21,872,000 $ 40,008,000 [1] $ 26,418,000
Short-term investments - Held-To-Maturity 3,171,000 5,001,000 [1] 13,544,000
Short-term investments - Available for Sale 7,580,000 0 0
Accounts receivable, net 26,614,000 23,751,000 [1] 26,142,000
Inventories 57,575,000 50,860,000 [1] 55,415,000
Current income taxes receivable 776,000 776,000 [1]  
Assets held for sale 67,000    
Other current assets 3,219,000 2,849,000 [1] 2,954,000
Total current assets 120,874,000 123,245,000 [1] 124,473,000
Property, plant and equipment, net 46,380,000 48,389,000 [1] 50,129,000
Goodwill 16,011,000 27,222,000 [1] 27,222,000
Intangible assets 7,738,000 10,448,000 [1] 10,542,000
Long-term investments - Rabbi Trust 7,804,000 7,081,000 [1] 6,834,000
Long-term investments - Held-To-Maturity 2,224,000    
Right of use asset 5,524,000    
Noncurrent income taxes receivable 733,000 733,000 [1]  
Deferred income taxes 920,000 457,000 [1] 3,224,000
Investment in unconsolidated joint venture 1,668,000 1,508,000 [1] 1,512,000
Other assets 464,000 643,000 [1] 972,000
Total assets 210,340,000 219,726,000 [1] 224,908,000
Current liabilities:      
Accounts payable-trade 21,835,000 24,377,000 [1] 28,401,000
Accounts payable - capital expenditures 177,000 78,000 [1] 91,000
Operating lease liability - current 2,227,000    
Deferred revenue 398,000 399,000 [1] 492,000
Accrued expenses 7,742,000 9,192,000 [1] 9,740,000
Accrued restructuring costs   124,000 [1] 228,000
Income taxes payable - current 455,000 1,022,000 [1] 642,000
Total current liabilities 32,834,000 35,192,000 [1] 39,594,000
Accrued expenses - long-term 233,000 333,000 [1]  
Subordinated loan payable 925,000 675,000 [1]  
Operating lease liability - noncurrent 3,160,000    
Contingent consideration - earn-out obligation   5,856,000 [1] 5,781,000
Income taxes payable - long-term 3,442,000 3,249,000 [1] 3,294,000
Deferred income taxes 2,013,000 3,176,000 [1] 2,225,000
Deferred compensation 7,637,000 6,998,000 [1] 6,782,000
Total liabilities 50,244,000 55,479,000 [1] 57,676,000
Commitments and Contingencies (Notes 12, 19 and 20) [1]
Shareholders’ equity      
Preferred stock, $0.05 par value, authorized 10,000,000 [1]
Common stock, $0.05 par value, authorized 40,000,000 shares, issued and outstanding 12,361,180 at February 2, 2020; 12,368,413 at January 27, 2019; and 12,391,160 at April 28, 2019 618,000 620,000 [1] 619,000
Capital contributed in excess of par value 43,748,000 43,694,000 [1] 43,961,000
Accumulated earnings 115,373,000 115,579,000 [1] 118,186,000
Accumulated other comprehensive income 104,000 40,000 [1] 9,000
Total shareholders’ equity attributable to Culp Inc. 159,843,000 159,933,000 [1] 162,775,000
Non-controlling interest 253,000 4,314,000 [1] 4,457,000
Total equity 160,096,000 164,247,000 [1] 167,232,000
Total liabilities and shareholders’ equity $ 210,340,000 $ 219,726,000 [1] $ 224,908,000
[1] Derived from audited financial statements.